Obama Releases Foreclosure Mitigation Plan

White House releases details of foreclosure-mitigation plan, which features a $75 billion stability program aimed at struggling homeowners. The loan-change aspect of the plan, according to the Obama administration, could benefit 5 million households.

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You can't make this stuff up. They have an answer to everything. Let me dig deeper and find out who (will get it), where (they are getting the money from), and how (they will do it).

Oh my...

Barlow

Housing Starts Plunge almost 17%

WASHINGTON (MarketWatch) - 8:30

Construction on new U.S. housing units plunged 16.8% in January to a seasonally adjusted annual rate of 466,000, the Commerce Department reported Wednesday, far below the weakest levels of the post-World War II era. Housing starts have dropped at double-digit rates for three straight months. At this rate, starts would fall to zero by the end of the year. Starts are down a record 56% in the past year and are down 79% from the peak three years ago. Housing starts in January were much worse than expected. Building permits, less volatile than the housing starts data, fell 4.8% to a seasonally adjusted annual rate of 521,000, also a record low.

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More signs of the times. Don't expect the picture to get brighter. We have not seen the low yet for housing.

Barlow

Good Morning 2.18.09

Good Morning,

The FB 2.0 Trade enters the day Flat.


There will be a face lift To this blog this week. Most of the work is intended to help you navigate the site easier.

Added: There is a new chat window. Use this to talk to other traders.. or me. Testing this to see if others wish to keep this available.

Happy Trading,

Barlow