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July 25, 2008 6:07:04 PM CDT

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Stories related to: housing market

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  • July 2008

    • Housing, Labor Pummel Stocks

      newser  |  Wall Street Journal  |  Jul 24, 08 3:29 PM CDT

      Housing, Labor Pummel Stocks

      Stocks saw big losses today as bad news on housing and employment soured investors’ hopes of a looming economic turnaround, the Wall Street Journal reports. The Dow fell 283.10—a 2.43% drop—to close at 11,349.28; the Nasdaq shed 45.77, to 2,280.11; and the S&P 500 lost 29.65, closing at 1,252.54. More »

      Tags

      S&P 500  • Nasdaq  • housing market  • Dow Jones Industrial Average  • unemployment  • Bank of America  • WaMu

    • In Switch, Bush Will Sign Bill Overhauling Fannie, Freddie

      newser  |  Wall Street Journal  |  Jul 23, 08 11:54 AM CDT

      In Switch, Bush Will Sign Bill Overhauling Fannie, Freddie

      President Bush will support a housing package being considered in the Senate, the Wall Street Journal reports. Bush threatened to veto the bill, which includes as much as $300 billion of insurance for Fannie Mae and Freddie Mac, but decided, given market turmoil, that now “is not the time for a prolonged veto fight” press secretary Dana Perino said today. More »

      Tags

      George W. Bush  • Bush administration  • housing market  • Henry Paulson  • Fannie Mae  • Freddie Mac  • housing legislation

    • FBI Begins Fraud Probe of IndyMac Mortgages

      newser  |  Bloomberg  |  Jul 16, 08 7:11 PM CDT

      FBI Begins Fraud Probe of IndyMac Mortgages

      The FBI is investigating failed bank IndyMac for possible fraud related to its mortgage-lending business, Bloomberg reports. The agency is looking into whether the bank gave improper loans to people with shaky credit. It is working closely with the FDIC, which seized the bank's assets last week. IndyMac specialized in so-called Alt-A mortgages that did not require people to document their incomes, Bloomberg notes. More »

      Tags

      housing market  • bank fraud  • IndyMac  • bank failure  • FDIC

    • US Smacked by the Invisible Hand

      newser  |  Los Angeles Times  |  Jul 16, 08 2:12 PM CDT

      US Smacked by the Invisible Hand

      Are we losing confidence in market mechanisms? Years of unfettered free markets contributed to the current gloomy economic situation, and even the market-championing White House has lurched into government regulation of the financial world, the Los Angeles Times reports. With housing prices falling and oil prices rising, “the message that Americans are getting is that something went wrong with the markets and you got hurt," said one economist. More »

      Tags

      oil price  • housing market  • economy  • regulation  • oil prices  • bank regulation  • speculators  • free markets

    • Tough Job Market May Last Through Late 2009

      newser  |  New York Times  |  Jul 2, 08 8:42 AM CDT

      Tough Job Market May Last Through Late 2009

      US jobs are eroding and they're unlikely to rebound until late 2009, reports the New York Times . May’s 5.5% unemployment rate is a point higher than a year ago and the 9.7% underemployed rate is up from 8.3% in May 2007, reports the Labor Department—which tomorrow releases a report expected to show a decline of 60,000 jobs in June. More »

      Tags

      recession  • credit crisis  • housing market  • economy  • unemployment

  • June 2008

    • Retirees Scoop Up Bargains in Housing Slump

      newser  |  New York Times  |  Jun 27, 08 2:05 AM CDT

      Retirees Scoop Up Bargains in Housing Slump

      Retired Americans who can afford new bargains are enjoying the drop in housing value in once-exorbitant sun havens where prices have plunged as much as 25%. Miami, Phoenix and Las Vegas—formerly at the forefront of soaring prices—are now leading the decline, the New York Times reports. Homebuyers who waited to purchase took a risk because prices could have surged, but were rewarded with more than $100,000 in savings. More »

      Tags

      housing market  • Las Vegas  • real estate  • Miami  • Phoenix

    • Energy Prices Hammer Suburban Housing Market

      newser  |  New York Times  |  Jun 25, 08 8:17 AM CDT

      Energy Prices Hammer Suburban Housing Market

      The soaring cost of energy has started the buck the half-century-old trend of migration to suburbs and exurbs, the New York Times reports. The cost of reaching a far-off home, let alone heating and cooling it, is becoming untenable for many. From Atlanta and Philadelphia to San Francisco and Minneapolis, prices of homes outside the urban core have fallen faster than those downtown. More »

      Tags

      gas prices  • housing market  • energy  • suburbs  • urban planning  • exurbs

    • Housing Slump Won't Ease Anytime Soon, Says Study

      newser  |  Reuters  |  Jun 23, 08 7:48 AM CDT

      Housing Slump Won't Ease Anytime Soon, Says Study

      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 tight, and foreclosures on the rise, they will likely wait until the market hits bottom, and it appears to have a ways to go.  More »

      Tags

      Federal Reserve  • housing market  • foreclosure  • interest rate  • home prices

    • Rise in Renters Wiping Out Gains in Homeownership

      newser  |  New York Times  |  Jun 21, 08 7:29 AM CDT

      Rise in Renters Wiping Out Gains in Homeownership

      Americans are shifting from being homeowners to renters in rising numbers, the New York Times reports, all but wiping out gains made during the boom. The percentage of homes headed by homeowners dropped from 69.1% to 67.8% this year, which sounds modest, but is, in fact, the biggest decline in 20 years. President Bush's ambitious "ownership society" plan hoped to see more low-income and minority families own their own homes, but these groups have been hardest hit by the subprime crisis. More »

      Tags

      subprime mortgages  • housing market  • mortgage  • home sales  • homeownership  • rent  • property

    • Stealing Home: Five Signs It's Time to Lowball

      newser  |  Newsweek  |  Jun 20, 08 1:18 PM CDT

      Stealing Home: Five Signs It's Time to Lowball

      It's not always the economy, stupid. Even in a weak market, buyers should consider a homeowner's situation before hurling a lowball bid, writes Daniel McGinn in Newsweek . One real estate broker offers five sure signs that a seller is ready to deal: Nobody's home. Sellers who have moved on, or will soon, probably want to unload the property fast.   More »

      Tags

      list  • housing market  • business  • real estate  • home sales  • homeowners

    • Consumer Mood More Downbeat Than Economy

      newser  |  Washington Post  |  Jun 18, 08 3:17 PM CDT

      Consumer Mood More Downbeat Than Economy

      The economy, statistically speaking, is sluggish, but hardly Great Depression-like—though American consumers seem to disagree, the Washington Post reports. They're paying more for everything from gasoline to grapefruit, are watching the value of their homes decline and fear their jobs may be disappearing—which, policy-makers worry, could breed behaviors that will make all the doom and gloom come true. More »

      Tags

      recession  • gas prices  • credit crisis  • housing market  • food prices

    • TV Home Shows Boom During Bust

      newser  |  New York Times  |  Jun 12, 08 9:20 AM CDT

      TV Home Shows Boom During Bust

      Home shows are becoming the heavyweights of reality television, even as the housing market continues to plummet, the New York Times reports. HGTV and TLC have million-plus nightly audiences as shows that provide step-by-step guidance to potential homesellers and buyers appeal to viewers weary of past hits that traded on big bucks through real-estate speculation. More »

      Tags

      housing market  • housing crisis  • real estate values  • home resales  • reality television  • home renovation  • A&E  • TLC

    • New Wave of Foreclosures Expected in '09

      newser  |  BusinessWeek  |  Jun 7, 08 10:44 AM CDT

      New Wave of Foreclosures Expected in '09

      America’s subprime victims may have grudgingly accepted their fate, but there’s a new class of borrowers primed to suffer, BusinessWeek reports. Homeowners who took out ARMs, or adjustable rate mortgages, will soon face skyrocketing payments as their loans reset. About a million people have the mortgages, but only a small number have already fallen due. “It's a ticking time bomb inside your house that you can't get rid of,” one insider said. More »

      Tags

      US economy  • housing market  • foreclosure  • debt  • home sales  • subprime mortgage crisis  • homeownership  • lending practices  • adjustable-rate mortgages

  • May 2008
  • April 2008

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