WHY PEOPLE MOVE Among those who moved between 2009 and 2010, Census said almost 44% of them (16.4m) did so for housing-related reasons, such as the desire to live in a new or better home or apartment. Thirty percent moved for family reasons (including marital status), and 16% for employment. In 2010, 37.5m people 1 [...]

78 Failed Banks In 2010 Five more banks disappeared Friday, bringing the total to 78. Bank of Florida Corp.’s three lenders were closed by regulators today who sold about $1.2 billion in deposits to EverBank Financial. Out west, City National (Los Angeles) enveloped Sun West Bank (Las Vegas), and in Sacramento Granite Community Bank became [...]

I am very excited, because last night I received news that I had won $5 million in the Netherlands lotto! Unfortunately I will receive $5 a year for a million years… Seriously, not a day goes by that I don’t receive some e-mail like, “Wherein your email address emerged as one of the online Winning [...]

Having a home office can be difficult. Last week my daughter came in and told me that, due to cost cutting measures, the board of directors was considering replacing me: with voice mail. “In fact, Dad,” she continued, “if things don’t pick up around here, every day would be casual Friday for you – you [...]

“Holy Good Faith Estimate, Bat Man!” Here are HUD’s answers to all your questions about the new Good Faith Estimates & RESPA. In the old days, hurricanes were named after women. Why? Because when they arrive, they’re wet and wild, but when they go, they take your house and car. We now have Hurricane Bill [...]

First I find out that TANG (the orange drink that I was raised on) was not developed in space or for astronauts. It actually came along a year before NASA was created, and marketing wizards tied the two together! Now Cheerios is under fire. The FDA posted a warning letter to General Mills saying that [...]

In Joseph Heller’s “Catch-22”, Milo Minderbender sets up a syndicate for selling seven-cent Maltese eggs to the mess halls at a price of only five cents an egg while still making a profit. How? Seven-cent Maltese eggs cost the sellers in Malta four and one-quarter cents each to procure. Milo is actually buying the eggs [...]

Contents of Stimulus Bill The $790 billion economic stimulus plan is on track for vote today in the House, and the Senate will either vote later today or over the weekend. There will be $4 billion to repair and make more energy efficient public housing projects; $2 billion for the redevelop foreclosed and abandoned homes; [...]

Citi + Morgan Stanley To Be Called CITIMORG According to current financial reports, a deal to combine the brokerages of Citigroup and Morgan Stanley — which would give Citi more cash, and Morgan Stanley more manpower — appears just days away. In light of the new venture with Morgan Stanley, the new entity name will [...]

WSJ reports today that midsized lenders have stepped into the gap left by some of the larger firms hard hit by the credit crunch. According to the story: “Jay Brinkmann, chief economist for the Mortgage Bankers Association, says many medium-size mortgage lenders are well-positioned for the turbulent environment because of their specialization in loans sold [...]