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NEWS ABOUT: housing crisis

housing crisis stories: 149 news summaries

121 - 140 of 149 Stories | << Prev 1 ... 3 4 5 6 7 8 Next >>

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Greenspan Signs On With Mortgage Profiteer

Ex-Fed honcho will advise hedge fund

Jan 15, 08 12:20 PM CST
(Newser) - Paulson & Co. made a fortune as the mortgage crisis unfolded, and now the hedge fund has hired the man some say caused the meltdown. Alan Greenspan, whose actions as chairman of the Fed have been under fire lately, today agreed to advise the firm, which saw one fund rise... More »

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Alan Greenspan • hedge fund • housing crisis • John Paulson • Paulson and Co • subprime crisis

Chicago's Spire Condos May
Be a Tough Sell

Developer plunges pricey skyscraper into lousy housing market

Jan 14, 08 12:00 PM CST
(Newser) - The Chicago Spire residential tower isn't even under construction yet, but its luxury condos—slated to be sold for unprecedented prices—will come face-to-face with a lousy housing market when the sales office opens today. Prices for units in the twisting skyscraper start at $1,400 per square foot, but... More »

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Chicago • housing market • skyscraper • Chicago Spire • condominium • housing crisis • new construction

Economists Fear It's Too Late to Save Economy

Measures now won't have impact for months

Jan 13, 08 7:41 AM CST
(Newser) - It may already be too late to quickly stop the economic tailspin triggered by the implosion of the housing market and booming energy prices, several experts believe, reports the New York Times. Perhaps the best that can be done is to make the crunch hurt a little less. “The... More »

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housing market • recession • US economy • crude oil • housing crisis

Congress, Bush Push Stimulus Plan

Smelling recession, two parties step up effort for economic relief package

Jan 12, 08 8:55 AM CST
(Newser) - With Democrats and Republicans increasingly spooked about a looming recession, the two sides appear ready to work together on an economic stimulus package of about  $100 billion in tax cuts and spending, the New York Times reports. Reps. Nancy Pelosi and Harry Reid yesterday wrote to President Bush, "We... More »

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Nancy Pelosi • Harry Reid • recession • US economy • housing crisis • economic stimulus package • George W. Bush

Pending Home Sales
Take Giant Plunge

Experts recommend buying a house immediately

Jan 8, 08 12:25 PM CST
(Newser) - Pending home sales fell 2.6% in November from a revised 3.7% October gain, Bloomberg reports, far outstripping the 0.7% fall analysts predicted after an originally reported 0.6% October gain. The figures support Henry Paulson’s gloomy outlook on the housing market. “There is no evidence... More »

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Henry Paulson • home resales • borrowers • housing crisis

Paulson Calls for More Housing Relief

Treasury secretary suggests aid for prime-rate borrowers

Jan 7, 08 9:17 PM CST
(Newser) - Treasury Secretary Henry Paulson advised the mortgage industry today to give help to millions of financially stressed homeowners whose mortgages are set to rise. His comments signal that the Bush administration is starting to push lenders to expand relief beyond subprime borrowers to homeowners with other adjustable-rate loans, reports the... More »

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Bush administration • subprime mortgages • Henry Paulson • US economy • home loans • Treasury Department • default • adjustable rates • borrowers • housing crisis

Given Rent Prices, Homes Still Too High

Expect another 15% drop if historical relationship holds

Jan 3, 08 10:21 AM CST
(Newser) - If rent prices are any indication, home prices aren’t done falling, according to one former and two current Federal Reserve economists. Annual rents have historically held steady at about 5% of home prices, but since 1996 home prices have left rents in the dust, the Wall Street Journal ... More »

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housing market • Federal Reserve • rent • Congressional Budget Office • home prices • homeowners • housing crisis

Fed Remains Open to More Rate Cuts

Minutes from last meeting display growing concern about markets

Jan 2, 08 7:33 PM CST
(Newser) - Fed officials will consider deeper rate cuts and a "substantial further easing of policy" if the turmoil in the credit and housing markets continues, according to minutes of last month's meeting. Officials displayed surprise at the extent of the housing crisis and acknowledged that market strains "could persist... More »

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inflation • Ben Bernanke • Federal Reserve • US economy • interest rate • discount rate • Federal Open Market Committee • housing crisis • interest rate cut

Declines in Home Prices Could Triple

Economist see US
in danger of recession; losses could last years

Dec 31, 07 5:00 PM CST
(Newser) - A top economist says the US is in danger of slipping into a lengthy recession, the Times of London reports. Robert Shiller, who co-developed the index that measures home prices, says losses from the housing recession could triple over the next few years. “This is a much bigger issue... More »

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Florida • California • Las Vegas • economic indicators • Case Shiller price index • Robert Shiller • housing crisis

New Home Sales Hit 12-Year Low

Decline tops even worst estimate

Dec 28, 07 11:00 AM CST
(Newser) - New home sales fell much farther than expected in November, hitting their lowest point since 1995, Bloomberg reports, and the slide only likely to get worse. Sales fell to an annual pace of 647,000, a 9% drop from October’s revised-down 711,000 rate. Prices are falling, but buyers... More »

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housing market • subprime mortgages • home sales • home loans • credit crisis • housing crisis

Nov. Housing Starts Fall 3.7%

And permits for new homes fall to 14-year low

Dec 18, 07 10:30 AM CST
(Newser) - Housing starts fell less than expected in November, but fall they did, extending the worst housing slump since 1991. Starts fell 3.7% and, according to one analyst, probably won’t turn around until the third quarter of next year. Permits issued, which give a picture of future construction, fell... More »

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housing market • subprime mortgages • mortgage • Toll Brothers • housing starts • housing crisis

Senate Votes
to Aid At-Risk Homeowners

Bill, approved 93-1, would allow feds to back refinanced loans

Dec 14, 07 4:44 PM CST
(Newser) - In an attempt to quell the ongoing housing crisis, the Senate approved a bill today that would allow the Federal Housing Administration to back refinanced loans for the thousands in danger of defaulting on mortgages. The bill, which passed 93-1, also repositions the FHA as an attractive alternative to subprime... More »

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Charles Schumer • Senate • Harry Reid • subprime mortgages • Federal Housing Administration • refinanced mortgages • housing crisis

Housing Crash Pushes Home Builder Into Red

Toll Brothers has its
first losing quarter
in 21 years

Dec 6, 07 7:49 AM CST
(Newser) - Toll Brothers, the country's largest luxury homebuilder, today reported its first quarterly loss in 21 years, Bloomberg reports, as the housing slump drove away buyers and forced the company to write down land. “Demand has just fallen off the table,” one analyst explains. Toll lost $81.8 million,... More »

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housing market • earnings reports • Toll Brothers • housing crisis

In '08, It's Really the Economy, Stupid

Worried over job, credit, health woes, voters put Iraq on back burner

Dec 4, 07 12:45 PM CST
(Newser) - With gas prices stratospheric, the housing market tanking, and recession looking likely, voters aren't too worried about Iraq, reports the Wall Street Journal. Job concerns have transformed illegal immigration and health care into major issues. “You have to have a health plan even in the Republican primary,... More »

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John McCain • Democrats • Republican • recession • US economy • credit crisis • oil price • housing crisis • Election 2008 • economic adviser

Home Sales Hit Record Low Despite Dropping Prices

Sales of existing properties down 20.7% over last year

Nov 28, 07 12:41 PM CST
(Newser) - Existing-home sales fell for the eighth consecutive month in October, hitting record lows in a survey of realtors. Resales dropped to an annual rate of 4.97 million, down 1.2% from September, despite a huge 5.1% drop in median price. “Price declines are part of the healing... More »

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housing market • home prices • home resales • housing sales • housing crisis

Greenspan Has
'No Particular Regrets'

Former FED chair
calls housing crisis 'a global phenomenon'

Nov 23, 07 5:41 PM CST
(Newser) - The US housing market crisis is not the result of Federal Reserve policies but part of a global phenomenon, former Fed chair Alan Greenspan says. "I have no particular regrets," he said yesterday in Oslo. "The housing bubble is not a reflection of what we did, as... More »

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subprime mortgages • Alan Greenspan • US economy • housing crisis

Bernanke Sees Q4 Slowdown

Fed chief sees economy as 'resilient' but  growth slow through this quarter

Nov 8, 07 9:58 AM CST
(Newser) - Economic growth will slow "noticeably" through the end of the year and into 2008, Fed chief Ben Bernanke said in prepared testimony for a congressional panel today. Bernanke called the economy "resilient," but said the housing slump will intensify before it's over, the Wall Street Journal reports.... More »

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Ben Bernanke • Federal Reserve • subprime mortgages • recession • housing crisis

Calif. Budget
Falls Prey to Housing Crisis

Governator orders across-the-board cuts as deficit nears $10B

Nov 6, 07 9:26 AM CST
(Newser) - With the housing crisis laying waste to California’s coffers, Arnold Schwarzenegger yesterday ordered all state agencies to cut budgets by 10%, the LA Times reports. “We are among a handful of states that has a lot of exposure to the housing crash,” said an economist. Property, sales,... More »

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California • housing market • Arnold Schwarzenegger • subprime mortgages • foreclosure • recession • state spending • housing crisis • state sales tax

Top Chicago Homebuilder Goes Bankrupt

Neumann becomes second largest builder to fall in subprime collapse

Oct 24, 07 5:16 AM CDT
(Newser) - Neumann homes, a top Chicago homebuilder, will file for Chapter 11 bankruptcy protection, the Chicago Tribune reports, making it the second-largest builder felled by the dive in the housing market. The company has laid off all but 20 of its 110 workers. “I’m not overly optimistic about the... More »

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Chicago • housing market • subprime mortgages • Detroit • home prices • housing industry • home builders • housing starts • housing crisis

Housing Ills Ripple Across Pond

Oct 22, 07 2:00 PM CDT
(Newser) - The American housing crisis is echoing in Europe, where home prices are dropping after a decade of rapid growth. The damage is limited, however, by intercontinental differences. High interest rates and shaken confidence are catching up to prices in France, Ireland, and particularly Spain, where new home construction had spurred... More »

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Spain • Germany • Europe • France • mortgage • Ireland • home equity loans • housing crisis

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