Speeding up short sales; Government, lenders try ways to make short sales simpler and quicker http://ow.ly/1qH2V

Citigroup Warns About China

According to Citigroup economists, China appears to be on track for an “asset boom, bubble and bust” that may take three years to play out and probably won’t be thwarted by tighter economic policy. This process is expected to begin in the residential property market before spreading to commercial real estate and ultimately to stocks. This process may take as long as two years for the asset bubble

U.S. sales tax rates hit record high. Top tax is 12 percent; Chicago’s 10.25 percent is highest big-city rate http://ow.ly/1kaVT

Fannie Mae seeks $15.3 billion more in aid; Troubled mortgage finance company posts $16.3 billion quarterly loss http://ow.ly/1duC0

Analysts see the cost of gas rising; ‘There is no legitimate fundamental reason’ http://ow.ly/1duyr