housing

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Beijing Olympics Displacing 1.5M
Beijing Olympics Displacing 1.5M
Dec 5, 2007 8:19 AM CST

Beijing Olympics Displacing 1.5M

13,000 a month evicted as Beijing prepares for Games

(Newser) - Construction projects under way for the Beijing Olympics have led to a massive number of displaced citizens—13,000 people each month, reports the AP. The Switzerland-based Center on Housing Rights and Evictions predicts that by the time the Games open next summer, 1.5 million Chinese will have been...

How To Lose Your Home Without Missing a Payment

Renters out in the cold in mortgage crisis

(Newser) - When landlords default on risky subprime loans, renters are the ones left out in the cold, the New York Times reports. Thousands of renters have lost their homes, usually little suspecting they were living on precariously-financed ground. “Renters are collateral damage in the mortgage crisis,” said one lawyer....

Paulson: Economy in Danger
Paulson: Economy in Danger
Oct 16, 2007 12:40 PM CDT

Paulson: Economy in Danger

(Newser) - The ongoing housing implosion poses “a significant risk” to the economy, Treasury Secretary Henry Paulson said in a speech at Georgetown University today, in a sobering about-face from earlier attempts to downplay the crisis. “The ongoing housing correction is not ending as quickly as it appeared,” he...

The Oy Next Door
The Oy
Next Door
Oct 2, 2007 6:14 PM CDT

The Oy Next Door

New site lets users share complaints about those annoying neighbors

(Newser) - Does your neighbor have a yard full of yappy dogs? How about a subwoofer big enough to rattle your china? Now you can report the jerk on RottenNeighbor.com, a site dedicated to letting aggrieved homeowners and renters vent—and warn those considering moving  nearby. The program uses Google Maps...

Largest US Homebuilder Posts Biggest Losses Ever

Lennar stock drops after worse-than-expected earnings report

(Newser) - The atrophied housing market has sent America’s largest homebuilder into even more of tailspin than expected. Lennar announced today it lost $513.9 million last quarter, or $3.25 per share—the worst losses in its 53-year history. Lennar says home discounting and the dismal mortgage situation will force...

Home Resales Down For Fifth Straight Month

Decline lower than expected, but unlikely to stop, experts say

(Newser) - Existing home sales slumped again in July—the fifth straight month the figures have been off and a sign that the market-draining housing downturn will continue. Though the 0.2 percent decline was the smallest movement since 2002, experts expect sales to continue dropping, according to Bloomberg.

Monthly Housing Sales Jump
Monthly Housing Sales Jump
May 24, 2007 2:15 PM CDT

Monthly Housing Sales Jump

But prices are way, way down

(Newser) - The real estate market had a volatile April, with home sales rising at their fastest rate in 14 years. But the 16% spike in sales over the previous month hid a more complicated reality: New home prices dropped by a record 11%, according to Commerce Department figures released today, and...

Home Prices Boom, In Select Cities
Home Prices Boom, In
Select Cities
May 9, 2007 10:28 AM CDT

Home Prices Boom, In Select Cities

Cities that sat out the bubble are showing gains despite overall slump

(Newser) - Despite the real estate slump, several cities are seeing double-digit gains in housing prices: Portland, Boise, Seattle, Salt Lake City, Houston, Austin, Charlotte and Raleigh aren't feeling the bubble blues—in part because they missed out on the bubble.

Housing Sales Plunge In March
Housing
Sales Plunge
In March
Apr 25, 2007 12:15 PM CDT

Housing Sales Plunge In March

Oversupply and tightened lending hit hard in already-weak market

(Newser) - Sales of previously occupied homes fell 8.4 percent in March, marking the biggest monthly drop since 1989 and ending hopes for a spring rebound. The new National Association of Realtors numbers reflect an oversupply of homes, lenders subdued by the sub-prime crisis, and bad winter weather, the Wall Street ...

Detox is Second (or Only) Home for These Addicts

Repeat patients who use it as refuge are costing New York millions

(Newser) - Drug addicts who check into New York hospital detox units dozens of times per year cost the state more than $300 million annually. These frequent fliers are often homeless or mentally ill people who see detox as a source of food and housing. People use it instead of the shelter...

Bernanke Keeps Interest Rate Steady
Bernanke Keeps Interest Rate Steady
Mar 29, 2007 8:15 AM CDT

Bernanke Keeps Interest Rate Steady

Sees housing crisis as risk, but doesn't see recession

(Newser) - With inflation creeping up, Fed chairman Ben Bernanke will keep interest rates steady—at least for now, reports the Wall Street Journal. Soft business investment and weakening housing are becoming serious risks, but the long-term outlook is good, Bernanke told Congress yesterday. "The current stance of monetary policy is...

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