New York Times: Off the Charts - Troubled Bank Loans Hit a Record High - The FDIC released statistics this week that show the loan quality at U.S. banks is the worst in 25 years. Old fashioned loans going bad. 7.75 percent of loans are showing some sign of distress, up from 6.9 at the end of 2008 and 4.1 a year earlier. It now exceeds the previous high of 7.26 set in 1990/91 during the S&L crisis.
Calculated Risk: May Economic Summary in Graphs - As always, excellent collection of graphs of economic and real estate market indicators reporting in May.
Wall Street Journal: Economists React: Home Resales at Bottom, Prices Have Further to Fall - Economists and several industry experts weigh in on increasing existing housing inventory and what it means to finding a bottom.
Wall Street Journal: Economists React: New Home Sales Indicate Stability, Not Recovery - Economists point out the obvious good news/bad news - but it's an improvement, nonetheless.
New York Times: Credit Relief May Not Last Long - "2009 is starting to feel a little like 1980. Then, as in recent months, a sudden credit contraction choked off economic activity. When the credit squeeze eased, a sense of relief spread. Within a few months, consumer confidence leaped amid expectations that both employment and business conditions would soon improve. The improvement came, but it did not last long..."
Washington Post: Jumbo Loans, Down-to-Earth Rates -Not long ago, you would have been charged about 8 percent interest on a jumbo loan -- if you could find a lender willing to grant you one. Now, rates on these supersized loans are much more affordable, having settled in the low 6 percent range, on average, for the past few weeks. But taking advantage of the lower rates remains tough.
Slate: The Summer Home Bust - "In recent years, I've approached the summer with something resembling dread... In the late boom, the lack of a second home marked you as a downscale outlier. In 2008, sales of vacation homes and investment properties nose-dived 50 percent from the peak."
Daily Beast: Jay Leno's Greatest Hits - See video clips of some of the funniest interviews on the Tonight Show ...