real estate

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Consumer Confidence, New Home Sales Slump

Grim economic indicators continue to stack up

(Newser) - Indicating that the topsy-turvy economy probably won't be righting itself anytime soon, consumer confidence dropped in May, as did new home sales, a signal that the reeling housing market has yet to hit bottom. The Fed will likely take up consumer worries at a 2-day meeting that starts tomorrow, Bloomberg...

Home Sales Plunge to 4-Year Low
Home Sales Plunge to
4-Year Low
Jun 25, 2007 6:27 PM CDT

Home Sales Plunge to 4-Year Low

Inventory glut, rising mortgage rates bode ill for quick rebound

(Newser) - Sales of existing homes fell again last month, while the number of homes languishing on the market hit a 15-year high. The median price sank to $223,700, the AP reports, and thanks in part to the woes of the subprime mortgage sector, overall sales were 10.3% below last...

Home Foreclosures Hit Record
Home Foreclosures Hit Record
Jun 14, 2007 3:16 PM CDT

Home Foreclosures Hit Record

A dreary real estate market is fueling an all-time high rate of foreclosures

(Newser) - Home foreclosures hit a record high in first-quarter 2007 as more subprime borrowers failed to make their mortgage payments. The number of mortgages entering foreclosure spiked four basis points to 0.58% and over 2.4% of subprime mortgage holders defaulted, up from 2% last quarter, according to a report...

Largest Oil Spill in US Seeps Under Brooklyn

Exxon owns up to a century of leaks and dumping over 55 acres

(Newser) - Underneath the ground of Greenpoint, Brooklyn, is a dark blob of gasoline, solvents, and associated poisons that composes the biggest oil spill in US history.  It's accumulated from a century's worth of smaller leaks and waste dumping, reports New York magazine, and ExxonMobil has quietly accepted the blame, but...

Tishman, Lehman Close REIT Deal
Tishman, Lehman Close REIT Deal
May 29, 2007 11:50 AM CDT

Tishman, Lehman Close REIT Deal

$13.5B offer for apartment giant marks major privatization

(Newser) - In a penthouse-level play, real estate developer Tishman Speyer Properties and investment bank Lehman Brothers will spend $13.5 billion to buy the nation's second-largest apartment owner. The $60.75 per share offer for real estate trust Archstone-Smith, confirmed this morning, will take the company private in a deal worth...

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.

Newmark Brains Scammers
Newmark Brains Scammers
Mar 5, 2007 6:20 PM CST

Newmark Brains Scammers

Craig's List founder tracks online swindlers the old-fashioned way— brainpower

(Newser) - “We are not really that high-tech of a company,” the man who brought classifieds into the Internet age, Craig’s List founder Newmark, tells the New York Observer, explaining why he uses a combo of customer feedback and his own memory—instead of techie solutions like IP-address blockers...

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