From the Los Angeles Times: "The number of Californians defaulting on their mortgage loans is rising rapidly, according to figures released Tuesday, providing striking evidence that more people are at risk of losing their homes.
Default notices read more 
The L.A. Times has this grim report on the bubble bursting in California's 'Inland Empire':
"HERE'S what Dave Hennigan knows about the four-bedroom house tucked away on a tranquil Corona street: The owner is a woman, and she's $8,155 behin read more
The Atlantic Free Press has an excellent (and long) read on the macro-picture of the current bubble:
"The hoopla over the “rise in new homes sales” ignores the “real”story which appears in many of the same articles; that is, “In 2006 read more
Mike Whitney writes in the Dissident Voice: " The American people appear to be oblivious to the economic hurricane that is expected to touchdown in late 2007. That’s when $1 trillion in ARMs (Adjustable Rate Mortgages) will “reset” triggering read more
``It's not just a housing recession anymore, it looks more and more like an economic recession,'' said Nouriel Roubini, a Clinton administration Treasury Department director and economic adviser who now runs Roubini Global Economics in New York. read more
Reuters reports on a mortgage banking stock that just dropped a whopping 60+%! If this is any indication of things to come, the entire banking industry itself could be in grave danger: "ew Century Financial Inc. (NEW.N: Quote, Profile, Research) s read more
CNN Money has this warning to mainstream America, "Don't Expect a Quick Rebound". "Is the housing slump really that bad? After all, the S&P 500 last week fell more in a single day (3.5 percent) than home prices have fallen in the past year nati read more
The Market Oracle has a must-read, terrifying analysis on the current state of the US Housing meltdown: "This week’s data on the sagging real estate market leaves no doubt that the housing bubble is quickly crashing to earth and that hard times a read more
CNN reports: "Home sales saw the biggest drop in 17 years last year, according to a trade group report on the battered real estate market, but the reading also showed the the decline in home prices may have bottomed out in December.
The National read more
