MoneyHowl.com

You would think with home prices still dropping like hailstones in most areas, that homes would be bargains.

The present buyer’s market obscures a key fact about the housing crisis though: millions sought the refuge of cheap credit, subprime and adjustable loans during the boom because they were the easiest routes to homeownership in a time when house prices far outpaced income growth.

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  June 3 (Bloomberg) — Toyota Motor Corp. and Honda Motor Co.posted sales declines of more than 40 percent in May from a yearearlier, when they were aided by rising fuel prices, as Asianautomakers lost U.
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  DETROIT - General Motors Corp. said Tuesday its U.S. sales in May fell 30 percent from a year ago, but they improved 11 percent from April as consumers shrugged off concerns…
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  WASHINGTON — President Barack Obama will announce on Monday the bankruptcy of General Motors Corp., launching a complicated, $59-billion effort to prevent the century-old juggernaut of American manufacturing from collapse.
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  Federal Reserve Chairman Ben S. Bernanke’s efforts to bring down borrowing costs to revive the housing market and help the economy are stalling. Mortgage rates are almost…