housing market

Stories 281 - 300 | << Prev   Next >>

And to Your Right, You'll See Another Foreclosure...

Bus tours take prospectors, and the merely curious, through ruins of mortgage crisi

(Newser) - Looking for cheap real estate? Hop on a foreclosure bus tour, a trend sweeping the nation in the wake of the mortgage crisis, the AP reports. The excursions typically include experts who educate buyers while showing empty homes: some bargain beauties, some fixer-uppers. "We're kind of a seminar on...

Agents Use 'Cash for Keys' to Stem Owner Vandalism

Foreclosed properties bear marks of parting shots

(Newser) - Banks and mortgage companies are hoping a “cash for keys” policy will stem a growing problem for lenders taking possession of foreclosed homes: dispossessed homeowners trashing their houses on the way out the door. Cheaper and faster than eviction proceedings, the policy is "win-win for both parties,"...

Shining Sun Belt Beckons to Rust Belt's Weary

Southern populations, particularly in Texas, continue to explode

(Newser) - Americans are continuing to flock to the Sun Belt, reports the AP. Almost all of the 50 fastest-growing metro areas in 2006 and 2007 were in the South and West, and four of the top 10 were in Texas. None were in the Northeast. Experts say the Sun Belt's strong...

Durable Goods, New Homes Take Hit in February

Orders for business equipment key larger-than-expected drop

(Newser) - Durable goods took an unexpected tumble in February, the Commerce Department announced today, with a 1.7% drop headlining a raft of bad economic news. Analysts expected a 0.8% increase. “Businesses definitely have shown they are beginning to retrench,” one analyst told Bloomberg. “Demand is weakening....

The Great Depression It's Not
 The Great Depression It's Not 
Analysis
Mar 25, 2008 11:21 AM CDT

The Great Depression It's Not

What if the end isn't near for the global economy?

(Newser) - Certainly, the 8-month-old credit crisis is serious, but the market turmoil is unlikely to kick off the next Great Depression, financial markets editor Mike Dolan writes for Reuters. "You could be forgiven for thinking we will all soon be hoarding food and reverting to a barter economy," he...

Surprise! Existing Home Sales Jump

February's 2.9% rise surprises analysts; median price tumbles unprecedented 8.2%

(Newser) - Existing home sales stunned Wall Street today with an unexpected spike, Bloomberg reports. The metric rose 2.9% in February to an annual pace of 5.03 million. Analysts had predicted yet another decline, to a 4.85 million pace. But one economist said this was only a “temporary...

Condo Glut Floods Cities
 Condo Glut Floods Cities 
Mar 22, 2008 8:17 AM CDT

Condo Glut Floods Cities

Bargains abound as boom-time projects completed

(Newser) - A deluge of new condos is about to hit many American cities already flooded with an unprecedented number of unsold units, the Wall Street Journal reports. This year, thousands of projects started at the height of the housing boom will be completed; oversupply and economic slowdown are likely to cause...

Mortgage Meltdown Hits Small Builders

Wave of bankruptcies could in turn weaken regional banks

(Newser) - The housing market collapse that's sending homeowners into foreclosure is starting to hit small- and medium-size builders left with developments they're unable to sell, the Wall Street Journal reports. Buyers are canceling contracts and builders are missing mortgage payments on often highly leveraged projects. Small regional banks, in turn, could...

Housing Starts Down; Producer Prices Up

Housing will hurt '08 growth

(Newser) - Housing starts fell yet again in February, and building permits hit a 16-year low, Bloomberg reports. The annual housing start rate fell to 1.065 million homes, a 0.6% drop from January, while permits sank 7.8%, indicating still bigger declines to come. “We don’t see it...

Retail Sales Sank in February
Retail Sales
Sank in
February
Mar 13, 2008 9:15 AM CDT

Retail Sales Sank in February

Surprise drop, after January rise, stokes slowdown fears

(Newser) - Stoking fears of recession, US retail sales fell in February by .6%, the Wall Street Journal reports, despite economists' predictions of a 0.1% increase. Sales had been up a revised 0.4% in January. Factors cited in the decline include rising gas prices, falling home values, the credit crunch,...

Green Homes Gain Heat in Cool Housing Market

Buyers willing to pay for eco-upgrades, survey says

(Newser) - Eco-friendly homebuilders are faring well despite the plunging US housing market, Newsweek reports. With home sales at a 15-year low, a national survey showed that buyers last year were ready to spend an extra $8,964 on a home that cuts utility bills. "It's taken almost as a fait ...

Fed Pumps Money Into Reeling Banks
Fed Pumps Money Into Reeling Banks
Mar 7, 2008 12:02 PM CST

Fed Pumps Money Into Reeling Banks

It will loan billions more this month to ease credit crisis

(Newser) - The Federal Reserve will lend more money to banks in March in a bid to ease the worsening credit crisis, Bloomberg reports. By dramatically increasing the funds available in two upcoming auctions—from $30 billion to $50 billion—the Fed hopes to convince banks to loosen up and lend more.

Depression-Era FHA Tries to Save Mortgages

Long-sidelined agency now a central player in the credit crisis

(Newser) - It’s been a while since the Federal Housing Administration was relevant. But now policymakers are counting on the Depression-era agency, which mostly insures mortgages, to once again solve a housing crisis. FHA-insured loans are swiftly becoming substantially cheaper than their Fannie Mae or Freddie Mac backed counterparts. “The...

Investors Angered as WaMu Shields Exec Bonuses

Bank's board of directors extracts subprime losses from bonus formula

(Newser) - Washington Mutual’s directors have decided to limit the hit its executive management team can take from the subprime credit fiasco, setting cash bonus targets that exclude costs from foreclosures and mortgage-related losses, reports the Wall Street Journal. The move angered some shareholders who’ve seen their investment shrink as...

Fannie, Freddie OK Appraisal Deal
Fannie,
Freddie OK Appraisal Deal
Mar 4, 2008 8:20 AM CST

Fannie, Freddie OK Appraisal Deal

New code will discourage inflated appraisals for home mortgages

(Newser) - The nation’s two largest backers of home loans have reached a deal with New York Attorney General Andrew Cuomo that could help eliminate inflated mortgage appraisals, the Wall Street Journal reports. Fannie Mae and Freddie Mac have agreed to buy mortgages only from banks that follow a new code...

Bernanke Signals New Rate Cuts
Bernanke Signals New Rate Cuts
Feb 27, 2008 9:15 AM CST

Bernanke Signals New Rate Cuts

Says central bank 'will act as needed' to further minimize economic risks

(Newser) - Federal Reserve Chairman Ben Bernanke today said that the board stands ready to cut interest rates again to give the economy "adequate insurance against downside risks," reports the Wall Street Journal. The move, which follows 2.25% in cuts to the key rate since September, is widely expected...

Home Prices Decline Across Country
Home Prices Decline Across Country
Feb 26, 2008 10:38 AM CST

Home Prices Decline Across Country

8.9% declines posted for fourth quarter in 10 biggest markets

(Newser) - Home prices in the top 10 metro areas slumped 8.9% over the previous year, the largest decline in 20 years, according to the closely watched S&P/Case-Shiller price index, released today. "Wherever you look things look bleak," one economist tells the Wall Street Journal, noting that declines...

Dour Housing Market Slams Home Depot Q4 Results

Profits drop 27%, and the company says 2008 isn't looking very bright

(Newser) - Continuing US housing market woes, showing no signs of letting up, helped drag Home Depot’s fourth quarter profits down 27% over the same quarter last year, to $671 million from $925 million. The world’s largest home-improvement retailer also predicted fiscal-year earnings will drop 19% to 24%, more than...

Families Swap Houses to Beat Slow Market

Buyers and sellers are turning to an unusual alternative

(Newser) - Struggling with a troubled housing market, some would-be sellers are opting for a novel solution: trading houses. The strategy is nothing drastic, ABC News reports—in separate transactions, two families sell their homes to each other. Buyers say the downside is reduced selection—but it can be convenient, and it...

During Bust, Green Groups Make Land Grab

Conservationists snatch idle land from developers' hands

(Newser) - As the subprime debacle rips through real estate, leveling home values and clogging the market with unsold property, an unlikely group of vultures is descending, reports Newsweek. Conservation groups and local governments alike, which sat on the bench during the last boom, are snapping up land from would-be developers to...

Stories 281 - 300 | << Prev   Next >>
Most Read on Newser