Archive for the 'Arizona' Category

Not like it’s really a suprising fact, but definitely a sobering one. I previously wrote about the game my children and I play where we guess the number of For Sale signs we’ll count on a street as we’re driving. It’s times like that when you realize the housing bubble and credit crisis [...]

The finance industry continues to suffer losses and as a result, it seems that some forecasting has shown it’s time to trim the fat where it can still be trimmed.

JPMorgan Chase on Tuesday said it plans to transfer 420 customer-service jobs from the Valley to locations outside Arizona as part of an ongoing workforce-efficiency drive.
Affected [...]

Around town, new home builders tend to raise incentives before dropping price. After all, they report the full sales price, so dropping prices for them is a slippery slope of loss. With incentives, they can give deep “discounts” to buyers, while artificially inflating the price so that their other communities can sell higher.
However, [...]

I had covered earlier, that Bush had announced plans to help borrowers avoid foreclosure. At the moment it was rhetoric as we didn’t quite understand what would be required of homeowners in order to qualify for the assistance.
Well, today those details have come. Big thanks to CreditBloggers for breaking it:

It’s been tricky trying [...]

Still on brief haitus, but the Arizona Mortgage Guru and Naked Capitalism had some interesting thoughts on causes of the lending meltdown we’ve been witnessing:

Yves Smith – Naked Capitalism
It suggests that many of the people who took out subprimes weren’t people who bought more housing than they could afford. It says they were already overstressed [...]

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