Mortgage fiasco led to this (The Charlotte Observer)
Story date: 2008-07-23 03:31:17
Added on: 2008-07-23 15:24:50
Q. What led to this? Wachovia's job cuts and losses represent fallout from problems battering the U.S. economy. Years of lax mortgage lending spurred a building boom and helped drive up home prices. A lot of people got mortgages they couldn't afford. That resulted in waves of foreclosures, which have spooked the stock market, produced a glut of homes for sale and driven down prices. Lenders ...
Read more...
Related Stories:
-
Camping is making a comeback (icWales)
THE humble tent has taken quite a battering in recent years....
2008-06-20 11:55:39 -
Falling Home Prices Spiral Into Deepening Abyss (WTOL 11 Toledo)
Housing prices have declined 15 percent in the last year, but the worst may be yet to come as forces battering the...
2008-06-27 11:02:23 -
House prices fall for first time in two years
This is Money - Mortgages & homes - House prices ... If these people only spend on essentials the economy will go...
2007-09-12 05:57:00 -
France's Economy to Grow at Slowest Pace in Five Years in 2008 - Bloomberg
June 20 (Bloomberg) -- France's economy will expand by 1.6 percent this year, the slowest pace in five years, as rising prices...
2008-06-19 10:46:00 -
Soaring prices pose challenge to G8 finance chiefs (The Japan Times)
Finance chiefs from the Group of Eight countries are expected to discuss Friday in Osaka how their economies can tame the soaring...
2008-06-11 02:21:14 -
Share prices in eight sectors hit yearly low (Express India)
Tremors of the ongoing global financial crisis jolted the country's bourses badly, battering eight of the sectoral indices in the Bombay Stock...
2008-10-06 01:29:40 -
Mortgage crisis: Can't be selective in deciding who gets help - Oak Ridger
The mortgage crisis that is battering the U.S. economy has reached a critical point that could determine whether the housing market stops...
2008-07-27 05:58:00 -
Soaring prices threaten economy
Boston Globe - Mortgage and other borrowing rates climbed, causing a deep recession in the early 1980s. ... That would be the...
2008-02-21 03:00:00