The Wall Street Journal: "Before we replace angst about housing, mortgages, and credit markets with anxiety about rising oil prices, consider what we've learned in the past several months. We had a housing bubble; that's now obvious. But how did it happen?"
The New York Times: "America's home-buying season, when for-sale signs sprout like dandelions, is shaping up to be even worse than expected this year, with prices falling, sales slowing, and few signs of a turnaround emerging."
The Christian Science Monitor: "Complete with box lunches and lemonade—and a crew of onboard experts including a home inspector, mortgage lender, and representative of a title company—ReMax Haven Realty's foreclosure bus tour takes hopeful homeowners, at $15 a seat, to see the bank-owned homes that are in 'short sale.' "
Associated Press: "Bear Stearns Cos. shareholders on Thursday approved JPMorgan Chase & Co.'s $2.2 billion buyout of the investment bank whose wagers on subprime mortgages made it the largest corporate casualty of the global credit crisis."