TWO NASTY HEADLINES

The second one is worse.

Historic fall in home prices
The decline, the biggest in the US since World War II, is deepening.
By Mark Trumbull Staff writer of The Christian Science Monitor
from the August 31, 2007 edition

(Via Tom at Atrios' place)

H&R Block warns on US mortgages
By Daniel Pimlottin New York
Published: August 31 2007 03:00 Last updated: August 31 2007 03:00
The Financial Times Limited 2007

H&R Block, the US tax preparer, on Thursday warned that the US mortgage market may be suffering the worst collapse since the era of the Great Depression, as it revealed that the sale of its subprime lending unit is under threat.
"The mortgage origination market is in the midst of the most severe dislocation that it has seen in years, maybe the most severe since the 1930s," said Mark Ernst, chief executive.