Foreclosures are having a mixed impact on shares at Home Depot and Lowe according to the top executives of both. It is of importance as new data about increasing pace of foreclosures is rolling in. The shares of Home Depot (component of Dow) traded down 3.0% at $22.63. The shares of Lowe fell by 3.4% and traded at $18.97.
The general pattern is that sales of Lowe dropped as foreclosures increased.

The foreclosure crisis is prompting calls for change. The administration is being constantly blamed for everything. The Clinton government put pressure on Fannie Mae and Freddie Mac to issue defective loans to people who did not have the income to repay them. This kicked off the ball that set into motion the foreclosure crisis and [...]

Foreclosure news is taking precedence over all other issues – including those coming in from Afghanistan, Iran and South Korea. The international emergency that foreclosures have created poses a greater threat to the stability of the world than blood baths elsewhere in the world. This is the view of Joel p. Trachtman of Fletcher School [...]

NBC News reported that one bright spot in the housing crisis actually favors first time homebuyers. Houses that were out of reach for a lot of people or people looking to buy in better neighborhoods for a long time found it unobtainable. The recent trouble in the real estate market has made it easier for [...]

The foreclosure crisis has exposed the defect in the structure and the system. The unregulated market framework did not work out and if Obama wants effective action and the end of the recession this root cause has to be tackled. The reverse gear action of going back to the unregulated market days is the main [...]

The lenders have had their day and now the administration is baring it teeth. The foreclosure crisis spells nemesis for Countrywide Financial Corporation in New Jersey. As part of an agreement New Jersey will be apportioned $3.6 million from Countrywide. The latter has been blamed for having preyed on gullible borrowers, said Governor Jon Corzine [...]

The fall out from foreclosures affects all and not just the direct players in the game – the lenders and borrows. In Michigan after exiting from the ministry ten years ago, Greg Sterns became the financial manager of Lighthouse, Oakland County. It is a non-profit body based in Pontiac. His job was to help those [...]

The raging foreclosure problem is being tackled with handing out bailout funds to banks. While most of the national banks are rushing with hats in their hands, two local banks on Hampton Road have declined the offer! Old Point National Bank and Chesapeake Bank had not applied for monetary help from TARP (Troubled Asset Relief [...]