At a Glance Robbie Whelan says the continued decline in pending home sales (or signed contracts on new home purchases) spells more gloom for the housing market. In a pleasant surprise, the Federal Housing Administration tells Congress its mortgage insurance claims are down, though if home prices plummet the story could change pretty quickly.
Biking Statesman, cont. With the Democratic candidate for governor in Colorado making biking a top issue in his campaign, his Republican counterpart warns that bicycle initiatives are a slippery slope to UN control, according to the Denver Post. Agree? Come to Denver in September and speak your mind.
Foreclosures Hurt, cont. According to Housing Wire, the Obama Administration has authorized $500 million for the “Hardest Hit Fund,” to support 5 states that are experiencing foreclosures at extreme rates. Meanwhile, HuffPo continues its almost daily onslaught of the administration’s HAMP anti-foreclosure initiative. And John Atlas thinks Chicago may have found a partial solution to the foreclosure crisis: making banks foot the bill.
Image: Pee-Wee fends of the bike police, via bikesnobnyc.blogspot.com