foreclosures
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Recession Briefing: A Real Teeth-Grinder
What you need to know today to survive and thrive in the recession.
In the wake of the recession more people are grinding and clenching their teeth, dentists say. A new survey by the Chicago Dental Society found that 65 percent of Chicago area dentists reported seeing an increase in jaw-clenching and teeth-grinding among patients in the past year. (Chicago Sun-Times)
“The ongoing Greek financial crisis is the same kind of crisis the United States might face a few years from now if we continue to make the same kinds of mistakes the Greeks have made over the last decade,” writes Anne Applebaum. (Slate)
Experts fear that a new wave of foreclosures will hit this year as prolonged unemployment makes it difficult for millions of homeowners to pay their mortgages — and many of them aren’t likely to get much help from a federal program aimed at keeping them in their houses. (Los Angeles Times)…
Recession Briefing 12.23: In Bank Closings, FDIC Gets Booty
What you need to know today to survive and thrive in the recession.
The recession pushed U.S. bank failures in 2009 to a 17-year high. As a result, the Federal Deposit Insurance Corp. to close came into possession of some interesting booty, including a rapper’s tour bus that reeked of marijuana, a red 2001 Ferrari, an eight-foot palm tree and stacks of unwanted office furniture. (Bloomberg)
In these final shopping days, many parents are reconciling their practical concerns with a deep desire to see delight in their children’s faces on Christmas morning. Spending on gifts is down, but that does not always mean children will feel the difference. (Washington Post)
In states hit hard by the housing crisis, stripping fixtures and appliances from homes in foreclosure has become commonplace. Often, the stripping is not done by strangers. It is done by the owner, just before the bank forecloses on the mortgage and takes the property back. (New York Times)…
Recession Briefing 12.21: Happy Holidays! No Foreclosures
What you need to know today to survive and thrive in the recession.
Mortgage finance companies Fannie Mae and Freddie Mac are suspending foreclosures and evictions for about two weeks in a temporary break for borrowers during the holiday season. (Associated Press)
In nearly 200 years of recorded stock-market history, no calendar decade has seen such a dismal performance as the 2000s. Investors would have been better off investing in pretty much anything else, from bonds to gold or even just stuffing money under a mattress. (Wall Street Journal)
The recession has accentuated what was already a growing home-energy challenge for low-income and many middle-class households across the nation. Rising numbers have had their utilities shut off, causing desperate scrambles to pay arrears and penalties to get them restored. (New York Times)…
Recession Briefing 10.27: Foreclosures Become Art
What you need to know today to survive and thrive in the recession.
A photographer and an architect plan to freeze one of Detroit’s thousands of abandoned homes this winter, encasing it in ice to draw attention to foreclosures that have battered the region. (Associated Press)
House Democrats and the Obama administration are preparing to introduce major legislation that would empower the government to seize troubled firms other than banks that are deemed “too big to fail.” (Washington Post)
Star Trek as a model for recession-busting? Judy Howard Ellis writes that if joblessness in the U.S. hits 10 percent at the end of this year and hovers at 9.5 percent at the end of 2010, some Americans may be quoting Spock to get them through the economic night. (Politics Daily)…
Recession Briefing 6.24
What you need to know today to survive and thrive in the recession.
The recession-driven shift to eating at home more often is giving new life to grocery stores’ most basic offerings. (Wall Street Journal)
Nationally, 27 percent of about 1.6 million graduating college seniors plan to work for nonprofit groups or governments, an increase from 23 percent from 2008. (Bloomberg)
A growing number of American homeowners are falling into financial limbo: They’re badly behind on payments, but their banks have not yet foreclosed. (Washington Post)
Recession Briefing 6.23
What you need to know today to survive and thrive in the recession.
Barely half of Americans are now confident that President Obama’s $787 billion stimulus measure will boost the economy, according to a new poll. (Washington Post)
Lines at soup kitchens are growing across the U.S. as they cater to a growing number of families struggling to make ends meet. (Guardian)
Shelters are struggling to house the increasing numbers of pets being abandoned by cash-strapped owners. (CBS News/Early Show)
Recession Briefing 6.11
What you need to know today to survive and thrive in the recession.
Many strip clubs are shedding their upscale trappings and catering to a thriftier clientele by offering less expensive drinks and waiving cover charges. (Wall Street Journal)
A Florida man has turned a 77-square-foot closet into his home, thus reducing his rent to $150 per month. (WPTV)
The Undies Indicator: During a recession, men’s underwear is among the first things that people stop buying. When underwear sales increase, it should signal an uptick in consumer demand. (CNBC)…
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