home prices

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$50B Obama Plan Aims to Give Homeowners Options

Administration to enable cuts in monthly payments, refinancing

(Newser) - Today the Obama administration unveils its plan to help struggling homeowners with cuts in monthly payments, more possibilities for refinancing, and changed bankruptcy rules.  Its central plank is a $50 billion subsidy for mortgage companies to make home loans more affordable. As the Wall Street Journal reports, economists are...

Home Prices Plunge Record 15.3%, Boosting Sales

Median US price was $175,400 in December, off 15.3%

(Newser) - US home prices took an unprecedented dive in December, Bloomberg reports, with prices of existing units dropping 15.3% over the same month last year—the biggest drop on record, and probably the biggest since the Great Depression. Sales, however, unexpectedly ticked up 6.5% in December, the National Association...

Long Way Down for NYC, Boston Home Prices

Cities can't buck market forces forever

(Newser) - New York, Boston, and Charlotte, NC, are at the center of the financial industry, but so far those cities haven’t seen home prices plummet the way they have in the rest of the country. New York’s single-family-home prices are down from their 2006 highs, roughly half the decline...

Dow Rises 184 on GMAC News
 Dow Rises 184 on GMAC News 
MARKETS
Dec 30, 2008 3:32 PM CST

Dow Rises 184 on GMAC News

Dow rises 184 despite drops in home prices, consumer confidence

(Newser) - Stocks rose today as investors were encouraged by the extension of at least $5 billion in bailout money to the financing division of General Motors, MarketWatch reports. GMAC said the aid would allow it to offer loans to more US consumers seeking to buy vehicles. The Dow gained 184.46...

Housing Bust Makes Divorce Too Costly for Many Couples

Couples stick it out as tough market makes splitting too expensive

(Newser) - Breaking up is hard to do, but in a housing bust it can be well nigh impossible. With one in six homes worth less than the mortgage owed on it, couples on the skids are finding divorce plans scuttled by an inability to sell the marital home. And with job...

Home Prices Take Another Nose-Dive

Fall record 18% in year to October

(Newser) - Home prices in 20 US cities plunged 18% in October over the previous year, a record-breaking rate, Bloomberg reports. The S&P/Case-Shiller index, which has declined every month since January 2007, dropped 17.2% in September. "The bear market continues; home prices are back to their March 2004 levels,...

Home Sales, Prices Plunge
 Home Sales, Prices Plunge 
Dec 23, 2008 10:52 AM CST

Home Sales, Prices Plunge

Everyone was really surprised

(Newser) - The housing market had another staggering setback in November, with sales of new and existing homes tumbling while prices took their biggest hit on record, the Wall Street Journal reports. Existing-home sales fell a worse-than-expected 8.6%, while the national median price fell 13.2% to $181,300, the steepest...

Existing-Home Prices Take Record Dive

11.3% decline is biggest on record; sales down again in Oct. after Sept. uptick

(Newser) - After a brief, unexpected rise in September, sales of existing homes plunged again in October, with the median price taking its biggest drop on record, the Wall Street Journal reports. Home resales fell 3.1% to a 4.98 million annual rate, from September’s revised 5.14 million pace....

Home Sales Up 5.5%, Biggest Gain in 5 Years

Inventories still at historic highs

(Newser) - Sales of existing US homes rose by the largest amount in more than five years in last month, a real estate trade group said today. The data offer a glimmer of hope that the housing slump could be starting to bottom out. The National Association of Realtors said sales of...

Housing Prices Look for Basement

(Newser) - A witch’s brew of factors is cursing the US housing market, reports the New York Times, driving home prices ever lower as they search for bottom. Rising unemployment, higher interest rates, lower wages, and a glut of foreclosures are likely to continue to keep the market depressed through much...

Bank Rescue Won't Lift Home Prices, Stop Foreclosures

Continued downward spiral drives consumer spending down, killing net worth

(Newser) - Economists are increasingly concerned that the government rescue plan is missing the root cause of the foundering US economy: still-falling home prices, reports the Wall Street Journal. And, while the bailout of banks and financial institutions could ease the pain of the slump, unless help is extended to the housing...

Street Watches Hill; Stocks Fall
 Street Watches Hill; Stocks Fall  
MARKETS
Sep 23, 2008 3:23 PM CDT

Street Watches Hill; Stocks Fall

Investors worry about Congress delaying bailout; home prices decline 0.6% in July

(Newser) - Stocks traded sharply lower at the end of today’s roller-coaster session as investors watched lawmakers balk at quickly enacting the financial bailout plan, the Wall Street Journal reports. The Dow fell 161.52 to close at 10,854.17. The Nasdaq lost 25.64, closing at 2,153.34,...

Housing Will Bottom June 30, 2009: Cramer
Housing Will Bottom June 30, 2009: Cramer
OPINION
Sep 8, 2008 2:29 PM CDT

Housing Will Bottom June 30, 2009: Cramer

Bombastic guru lists 10 signs of a real-estate turnaround

(Newser) - Jim Cramer has spent over a year “shouting in my usual unhinged way” about the bleak real estate market, he writes in New York. But now he’s so confident housing’s headed for a bottom that he’ll name the exact date: June 30, 2009. Why?
  1. New home
...

Home Sales Up in July; Market Glut Begins to Ease

Inventory still high as monthly declines ease

(Newser) - New home sales rebounded a bit in July, according to Commerce Department data released today, and the glut of properties on the market began to ease, Bloomberg reports. The 2.4% uptick in sales fell short of the pace economists were looking for—hitting a 515,000 annual pace rather...

Housing, AIG Spur Losses
 Housing, AIG Spur Losses
MARKETS
Aug 25, 2008 3:27 PM CDT

Housing, AIG Spur Losses

AIG is the troubled financial firm du jour

(Newser) - Stocks fell today as bad news from the housing and financial sectors diminished hopes that the economic slump will lift soon, the Wall Street Journal reports. The Dow fell 241.81 points to 11,386.25, led by a 5.5% loss at beleaguered insurer AIG. The Nasdaq fell 49....

Home Prices Fall Again; Rate of Decline Sets Record

Consumer confidence numbers offer ray of hope

(Newser) - Home prices continued to nosedive in May, a signal that the housing crisis may be worsening and a red flag for the credit markets and Wall Street, reports the New York Times. Every region covered by the S&P/Case-Schiller home-price index showed a drop compared to May 2007, with the...

A Year On, Credit Crisis Lingers
 A Year On, 
 Credit Crisis
 Lingers 
ANALYSIS
Jul 1, 2008 7:09 AM CDT

A Year On, Credit Crisis Lingers

'Vicious circle' threatens broader economy

(Newser) - Despite assurances from some experts that the credit crisis would be short-lived, the forecast remains bleak after more than a year of frustrations, the New York Times reports. In a “vicious circle,” falling home prices lead to more bad loans, which makes credit harder to get so that...

Home Prices Take Steepest Tumble Since 2000

Housing index fell by 15.3% in April versus a year ago

(Newser) - US home prices tumbled in April at the fastest rate since the Standard & Poor's/Case-Shiller index started keeping track in 2000, with all 20 metropolitan areas surveyed posting annual declines for the first time. The index fell by 15.3% in April versus a year ago, according to today's report....

Housing Slump Won't Ease Anytime Soon, Says Study

Tight credit, interest rate worries keep homebuyers on sidelines

(Newser) - Rising mortgage rates and a tenacious slump in sales and home values will continue to depress the worst housing market in decades, reports Reuters. Don't expect potential saviors—new home buyers—to make a dent any time soon, says a Harvard study. With mortgage rates at a 9-month high, credit...

Foreclosure Sales Rebound as Buyers Snap Up Deals

But prices drop drastically as lenders bite the bullet

(Newser) - April generally was not a great month for home sales, the Wall Street Journal reports—except in the areas hardest hit by the subprime crisis as lenders slash prices on foreclosed homes and buyers snap them up. Subprime-riddled Detroit, for example, has seen home sales rise 48% in the past...

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