We estimate that average home prices declined by 6 percent on a national basis during the second quarter of 2008, which translates to an 8 percent total national decline since the beginning of the downturn in the second quarter of 2006. 
Selected and fresh photos from around the web.
-
Editor's pick
-
Georgian soldiers run near a blazing building after a Russian bombardment in Gori, 80 km (50 miles) from Tbilisi, August 9, 2008. A Russian warplane dropped a bomb on an apartment block in the Georgian town of Gori on Saturday, killing at least 5 people, a Reuters reporter said. The bomb hit the five-story building in Gori close to Georgia's embattled breakaway province of South Ossetia when Russian warplanes carried out a raid against military targets around the town.
-
CARSON, CA - JULY 31: Andre Villa practices in the Moto X Freestyle during the summer X Games 14 at Home Depot Center on July 31, 2008 in Carson, California.
-
A woman collects drinking water from a tube well at the flooded village of Godadhar in Faridpur July 27, 2008. Several areas in north and northeastern Bangladesh remain inundated with floodwaters after the embankments of the rivers Jamuna and Padma collapsed due to heavy rainfall earlier this week.
-
LONDON - JULY 25: Reese Hoffa of United States competes in the Men's Shot Put Final during day 1 of the Norwich Union Aviva London Grand Prix at Crystal Palace Stadium on July 25, 2008 in London, England.
-
-
Hot off the wire
-
Paraguay's former President Nicanor Duarte is seen on a TV camera screen as he leaves the Congress in Asuncion, Thursday, Aug. 21, 2008. Duarte, was elected to the Senate during a general election in April but more than half of the senators boycotted his incorporation to the Congress on Thursday.
-
An Egyptian Coptic holds his baby after immersing him in water during a celebration of the Feast of Assumption in Dronka village, outside Assiut, 400 km (310 miles) south of Cairo, August 21, 2008. The Feast of Assumption marks the Virgin Mary's ascension into heaven. Thousands of Coptic pilgrims and a handful of Muslims converged in Dronka village where they believe the Holy Family stayed.
-
NEW HAVEN, CT - AUGUST 21: Andreas Seppi of Italy returns a shot to Luka Gregorc of Slovakia during Day 4 of Pilot Pen Tennis on August 21, 2008 at Connecticut Tennis Center in New Haven, Connecticut.
-
-
Recently starred
-
United States' Jeremy Wariner, front, reacts after United States' LaShawn Merritt, back, won the gold in the men's 400-meter final during the athletics competitions in the National Stadium at the Beijing 2008 Olympics in Beijing, Thursday, Aug. 21, 2008.
-
NAPLES, FL - AUGUST 19: A man hold his shoes while walking home from work in street flooding from Tropical Storm Fay August 19, 2008 in Naples, Florida. Fay moved inland Tuesday after making landfall in southwest Florida, bringing soaking rains and gusty winds but failing to reach the minimal hurricane status that had been predicted.
-
Tropical Storm Fay is pictured over the state of Florida in this satellite image taken on August 19, 2008. Fay, currently located inland about 30 miles east-southeast of Ft Myers on the west side of Lake Okeechobee, is expected to remain over Florida through Saturday.
-
This August 20, 2008 NOAA satellite image shows Tropical Storm Fay located south of Cape Canaveral, Florida. Tropical Storm Fay was heading eastward toward Florida's Atlantic coast early August 20, with forecasters saying it will more than likely make a return trip to the waterlogged state after it finally moves offshore."This storm is going to be with us for a while. That's obvious now," Florida Governor Charlie Crist said late Tuesday."It looks like it could be a boomerang storm." Forecasters said Fay may stick around through Thursday or later. Fay on Tuesday slammed into Florida's southwest coast, buffeting the Sunshine State with severe winds and drenching rains, while also spawning tornadoes and severe flooding.
-
Topics from articles that mention "Joshua Rosner"
Articles sorted by relevance containing "Joshua Rosner"
The staggering losses suffered Thursday by shares of American International Group Inc. put it on a course for its worst one-day decline since May of 1981. Yes, that’s right — this day has been worse than the October 1987 crash for the insurance giant.
NEW
YORK/WASHINGTON: Fannie Mae and Freddie Mac rose after US lawmakers reached a
deal on legislation that authorises Treasury secretary Henry Paulson to bail out
the mortgage-finance providers while placing few restrictions on the companies.
In some cases, though, these moves may only delay the inevitable, easing pressure on the companies' finances in the short term without resolving their troubles.
The two U.S.-government-sponsored guarantors of home loans last week said they will
Business > Americas
NEW YORK -- Bill Gross, who manages the world's biggest bond fund, said the U.S. Treasury will proba
bly be forced to buy as much as US$30 billion of preferred shares in both Fannie Mae and Freddie Mac to help shore up their capital.
Fannie Mae and Freddie Mac rose after U.S. lawmakers reached a deal on legislation that authorizes Treasury Secretary Henry Paulson to bail out the mortgage-finance providers while placing few restrictions on the companies.
Congress isn't requiring the
Fannie Mae, the largest U.S. mortgage-finance company, posted its fourth straight quarterly loss Friday and cut its dividend as record delinquencies pushed up credit costs.
The second-quarter net loss was $2.3 billion, or $2.54 a share. Before a
Fannie, Freddie boost anti-foreclosure efforts. New efforts by Freddie Mac (FRE) and Fannie Mae (FNM) to forestall foreclosures by modifying mortgage terms will be a boon for loan-servicing companies - whose fees for restructuring 'workouts' jump to $8
White House press secretary Dana Perino said the president was persuaded that the parts are of the bill the administration favors -- including broad new authority for the Treasury Department to lend money to troubled mortgage finance giants Fannie Mae
Quotes spotlight for "Joshua Rosner"
We estimate that average home prices declined by 6 percent on a national basis during the second quarter of 2008, which translates to an 8 percent total national decline since the beginning of the downturn in the second quarter of 2006.
was said
in Consumerist
bought loans that . . . were on some level just as risky as what was subprime
said Ritch Workman
in philly.com
It seems they would rather pay servicers to keep the losses rolling into the future even if close to a majority of borrowers redefault because they are unable to handle the mortgages
said Joshua Rosner
