Foreclosures

Foreclosures

Chicago Cab Industry Collapsing As Medallion Foreclosures Soar

"It feels like the city is just watching us collapse.  Right now, there are a few people, the elderly and some others who refuse to take Uber because they are uncomfortable with it, that keep us going. But how many of those people are out there to sustain us?"

US Household Debt Surpasses 2008 High, Hits Record $12.7 Trillion

“Almost nine years later, household debt has finally exceeded its 2008 peak. This record debt level is neither a reason to celebrate nor a cause for alarm. But it does provide an opportune moment to consider debt performance,” said Donghoon Lee, Research Officer at the New York Fed.

Euro Surges As Trump Fears Slam Dollar; Futures Poised For New Records

In a replica of Monday's early trading, European shares are down, this time led by health-care stocks even as the Euro surges above 1.1050, the highest level since the US election. Asian equities rose, while S&P futures were unchanged although we expect the ramp to kick in any second, and take the NASDAQ to another all time high. Meanwhile, the US dollar weakened for a fifth day.

Where Do You Go In A 'Hurricane'?

We’ve passed the point of whether there’ll be a hurricane; we just can’t be sure how severe it’ll be. The winds are already picking up and those who choose to make a move will need to do so soon.

Peter Schiff: Damn The Deficits, Huge Tax Cuts Ahead!

For once, at least, this does not appear to be Trumpian braggadocio. It really may be the mother of all tax cuts. But if passed, what may this bunker buster do to the economy? While I have rarely met a tax cut I didn’t like, this one just may be more likely to send the economy into a downward spiral than it is to send up to orbit.

Frontrunning: April 21

  • Attack overshadows last campaign day in France (Reuters)
  • Paris Gunman Was Questioned by Police in February (WSJ)
  • French PM knocks Le Pen, Fillon stance on security after Paris shooting (Reuters)
  • Battle zone scenes at Paris Champs Elysees (Reuters)
  • In ‘Buy American’ Push, Trump Is Starting in a Hole (WSJ)

The American Dream, Twice Removed

"The demise of America comes in small steps. But it’s unstoppable. The same is true for every other housing bubble. When no-one can afford to buy a home anymore but a bunch of Russians and Chinese, rental prices surge. And then shortly after that the whole thing goes up in smoke."

Is Bankruptcy For Illinois The Answer?

Could a formal bankruptcy proceeding for the State of Illinois be the answer to it’s fiscal crisis? If you think that’s out of the question, as many do, you’re wrong.

Existing Home Sales Tumble As NAR Warns Prices Becoming Increasingly Unaffordable

"The affordability constraints holding back renters from buying is a signal to many investors that rental demand will remain solid for the foreseeable future. Investors are still making up an above average share of the market right now despite steadily rising home prices and few distressed properties on the market,