Kenneth Harney: Barring veto, relief is likely for homeowners, buyers (Arizona Daily Star)
WASHINGTON Congress left town for the July Fourth recess with a half-baked cake in its legislative oven one that has huge potential significance for the housing and mortgage markets.
We’re riddled with debt… but the cure is a killer (Independent)
Gordon Brown has campaigned forcefully for a 100 per cent write-off for Third World debt. Yet, while cancelling foreign loans, he has presided over an unprecedented 10-year explosion in domestic debt.
Some homeowners face ruin (News 24 South Africa)
With house prices down 11% in June, some are already in a position where their mortgage debt exceeds the value of their property.
Pensioners who banked on a home sale windfall ‘are biggest losers in housing slump’ (Daily Mail)
Pensioners relying on selling their home to pay for their retirement are the biggest losers in the housing crisis, experts warned yesterday.