These Are The 10 NEW Most Expensive Cities In The World – Business Insider
FHA defaults up for ninth straight month – HousingWire
Bay Area’s hefty share of mortgage settlement – SF Chronicle
According to estimates from the California attorney general’s office, homeowners in the nine-county Bay Area are due to split $3.1 billion of the $18 billion to be distributed statewide. Alameda County is down to get the most – $757 million – followed by Contra Costa County ($651 million) and Santa Clara County ($588 million).
San Francisco should be receiving $147 million, according to the attorney general’s spreadsheet.
Under the settlement, approximately half a million California homeowners will be getting some sort of financial relief, in the form of principal reduction and easier refinancing for those currently underwater, or loan forgiveness and cash compensation (approximately $2,000) for those who have been foreclosed.
Obama Housing Plans vs. Reality – ProPublica
Economy & Europe
Greece is broken, and can’t be fixed – Felix Salmon
Next Up: Portugal- Dollar Collapse
Euro-Area Economy Shrinks – Bloomberg
Many parents who co-signed loans or borrowed money on their own for their children’s education now face the loss of their retirement nest eggs, homes and other assets. As student loan debt has topped U.S. credit card debt, “America faces the very real possibility of another major threat on par with the devastating home mortgage crisis,” according to a new study by the National Association of Consumer Bankruptcy Attorneys (NACBA).
We are constantly being told how much better the economy is doing. It’s incredible what the January employment report did to people’s perceptions of the macro landscape. It’s as if we were just transported to the mentality that prevailed this time last year.
How Paul Attracts The Young - Andrew Sullivan