Miami, Orlando and Jacksonville top Forbes’ list of cities with most over-priced properties … and more

1. Miami, Orlando and Jacksonville top Forbes’ list of cities with most over-priced properties [Forbes via Realtor Mag] 
2. Nationwide apartment starts drop to record low [National Mortgage News] 

3. Noteholders debating options in Six Flags Chapter 11 reorganization plan [Crain’s]
4. Long-term fixed mortgage rates reach average level of 4.71 percent [Realty Times]
5. HUD secretary Shaun Donovan says housing market is seeing “light at the end of the tunnel” [National Mortgage News]
6. With big banks leaving TARP control, some have doubts over their financial stability [Credit Writedowns via Naked Capitalism] 

7. More homeowners opt to invest in improvements, rather than flip houses [CNNMoney]

8. Banks see huge losses on short sales [Bloomberg]
9. MBS will fall more, according to Paolo Pellegrini, head of PSQR Management [Crain’s]
10. More young renters prefer prime locations over posh spaces [Washington Post]
11. Citigroup needs Treasury to sell shares to pay back bailout funds, industry experts say [Bloomberg]
12. FBI reports more instances of mortgage fraud [Christian Science Monitor via Realtor Mag]
13. As Obama pushes for more permanent loan modifications, some question how will effect permanent modifications can be [WSJ]
14. New rent-pay start-up allows tenants to submit monthly checks to landlords online [Crain’s]