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Started by S Goldstein; Last updated Feb 29, 08 6:23 AM CST by D Lim | View history

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Housing Market

Navigating today's real estate market is a tricky task for buyers, sellers and those whittling away at that 30-year mortgage; steer yourself in the right direction with these relevant articles

Stories

Stories 141 - 160 of 191

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December 2007
- Home Resales See Small Surprise Rise
  
  newser | Bloomberg | Dec 31, 07 12:48 PM CST
  
  Existing-home sales rose unexpectedly in November, although not enough to suggest that the economy is over the housing slump, Bloomberg reports. Resales rose 0.4% to an annual rate of 5 million, up from October’s record-low pace, but the year-over-year figure represents a 20% drop. The median price dropped 3.3% relative to November 2006, to $210,200. More »
- New Home Sales Hit 12-Year Low
  
  newser | Bloomberg | Dec 28, 07 11:00 AM CST
  
  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 either aren’t interested or can’t get loans because of tighter credit conditions. More »
- Home Prices Suffer Record Monthly Drop
  
  newser | Bloomberg | Dec 26, 07 12:25 PM CST
  
  Home prices plummeted 6.1% in October, a record year-over-year drop that exceeded forecasts. The index of prices in 20 major markets has dropped every month this year and fell 1.4% from the September figure, another record. The trend threatens overall consumer spending, making it more difficult for homeowners to dig into home equity funds, Bloomberg reports. More »
- Most Secure American Cities
  
  newser | Bestplaces.net | Dec 21, 07 7:48 PM CST
  
  There's no place like home, especially if home is nestled safely in one of the most secure places in America. The bestplaces.net website breaks down the top 20 small towns, mid-size cities, and large metro areas: Population less than 150,000 Corvallis, Ore. Harrisonburg, Va. Ithaca, NY More »
- Nov. Housing Starts Fall 3.7%
  
  newser | Bloomberg | Dec 18, 07 10:30 AM CST
  
  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 to a 14-year low, Bloomberg reports. More »
- Senate Votes to Aid At-Risk Homeowners
  
  newser | Associated Press | Dec 14, 07 4:44 PM CST
  
  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 lenders by lowering minimum down payments and offering homeowner counseling. More »
- Pending Home Sales Rise Slightly
  
  newser | Wall Street Journal | Dec 10, 07 11:11 AM CST
  
  US home sales jumped in October and will rise slightly overall next year, beating forecasts, the Wall Street Journal reports. The National Association of Realtors' index for pending sales of existing homes spiked 0.6% in October over September, which was up 1.4% over August—but those increases are still part of a recovery from a year-long plunge, the third-biggest on record, Reuters reports. More »
- Bad Credit? Buy a Piece of Someone Else's
  
  newser | Los Angeles Times | Dec 8, 07 8:22 PM CST
  
  Americans struggling with bad credit records may have a new route to a better score: For as little as $1,199, a San Diego company is offering the chance for customers to add their names to already-paid-off loans in order to boost their rating, the Los Angeles Times reports. The company says it's "100% legal," but not everyone agrees. More »
- Some Critics of Rate Freeze May Be Angry Investors
  
  newser | Wall Street Journal | Dec 8, 07 1:34 PM CST
  
  Critics of the government’s new rescue plan for strapped homeowners may be investors who would cash in on a foreclosure-ridden market, one of the plan’s chief architects charges. Sheila Blair, head of the FDIC, speculated that naysayers may have a conflict of interest, the Wall Street Journal reports. “I do worry that some of the investors have taken short positions” on the subprime-mortgage securities index. More »
- Housing Crash Pushes Home Builder Into Red
  
  newser | Bloomberg | Dec 6, 07 7:49 AM CST
  
  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, or $0.52 per share, but the shares actually rose 1.7%, because analysts had predicted losses of $0.71 per share. More »
November 2007
- Home Sales Hit Record Low Despite Dropping Prices
  
  newser | CNN | Nov 28, 07 12:41 PM CST
  
  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 process,” an economist told CNN, “but we have a lot of healing to do.” More »
- Home Prices Suffer Record Quarterly Drop
  
  newser | MarketWatch | Nov 27, 07 1:41 PM CST
  
  The housing slump deepened in September as home prices plummeted, posting a record 4.5% decline from third quarter 2006 to third quarter 2007, Marketwatch reports. The 1.7% decline from the second to the third quarter was also a record in the 21 years the bellwether index has been in use. "There is no real positive news in today's data," said Robert Shiller, who co-developed the index. More »
- Housing Permits at 10-Year Low
  
  newser | Bloomberg | Nov 20, 07 1:45 PM CST
  
  Homebuilding permits fell for the fifth straight month in October to their lowest point since 1993, another signal that single-family home construction is drying up. Housing starts were unexpectedly up, but those were mostly work on condo projects. “All of us are ratcheting down our expectations for the bottom of the housing sector,” an economist told Bloomberg. “I don’t think we’re there yet.” More »
- Housing Slump Tarnishes Trump Name
  
  newser | Wall Street Journal | Nov 16, 07 10:03 PM CST
  
  Proving no one is safe from the housing market downdraft, Donald Trump is experiencing some turbulence as tightening credit saps demand and leaves a few Trump Towers in the lurch. Two Florida projects with Trump's name have halted construction—even after one collected deposits from buyers—and a third may soon. A Toronto project suffered years of delays and a downsizing, and 30% of Trump Tower Chicago remains unsold. More »
- Stocks Fall Second Straight Day
  
  newser | Bloomberg | Nov 15, 07 3:46 PM CST
  
  Stocks were down for a second consecutive session today on bad tidings from Wells Fargo, JC Penney, and Exxon Mobil. Mortgage giant Wells called the housing market the worst since the Depression; Exxon fell after a surprise decrease in oil prices. The Dow was down 120.96 to 13,110.05, the Nasdaq 25.81 to 2,618.51, and the S&P off 19.43 to 1,451.15. More »
- Dreary Housing Market Nails Home Depot
  
  newser | Wall Street Journal | Nov 13, 07 7:31 AM CST
  
  A weak housing market hammered Home Depot’s third quarter, sending revenues down 4% and cutting net income 27%, reports the Wall Street Journal. The Atlanta-based retailer today said net income fell to $1.09 billion compared to $1.49 billion a year ago. “We are facing a tough environment as housing indicators continue to deteriorate,” said CEO Frank Black. More »
- Mortgage Rates Drop to 5-Month Low
  
  newser | Associated Press | Nov 9, 07 2:16 AM CST
  
  Rates for 30-year fixed mortgages have slipped for the third week in a row. The dip to 6.24% is the lowest level since May. Mortgage rates have been falling across the board over the last week, which analysts attribute to the slackening economy. The drop follows the Fed's cut in interest rates last week—the second one in six weeks. More »
- Housing Woes May Take Toll on GOP
  
  newser | Los Angeles Times | Nov 6, 07 3:05 PM CST
  
  Having played a central role in the GOP’s 2004 organizing success, America's exurbs are swinging to the left as a result of the housing crunch, the LA Times reports. With sliding home prices and soaring foreclosure rates, voters in high-growth counties across the country are growing anxious and turning away from Republicans. More »
- Calif. Budget Falls Prey to Housing Crisis
  
  newser | Los Angeles Times | Nov 6, 07 9:26 AM CST
  
  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, and income taxes are all down, threatening to balloon the deficit to $10 billion. More »
- Jobs Get Surprise October Bump
  
  newser | Bloomberg | Nov 2, 07 10:25 AM CDT
  
  Job growth in October was unexpectedly robust, with the addition of 166,000 jobs doubling projections and easing recession fears. Analysts had predicted an increase of only 85,000 jobs; one economist said the surprise figure “will increase the Fed's conviction that it should keep rates unchanged” for months to come, Bloomberg reports. The unemployment rate held steady at 4.7%. More »

Stories 141 - 160 of 191

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A house for sale is seen in Somerville, Mass., Tuesday, April 24, 2007. Sales of existing homes plunged in March by the largest amount in nearly two decades, reflecting bad weather and increasing problems... (Associated Press)

Real estate sale signs sit in front of a home in Montpelier, Vt., Tuesday, July 24, 2007. Sales of existing homes fell for a fourth straight month in June and even a small increase in home prices was... (Associated Press)

Real estate sings mounted on homes are shown in Philadelphia, Thursday, Aug. 16, 2007. First-time homebuyers and people with poor credit would have greater access to federally insured mortgages under... (Associated Press)

Jose Flores, who calls himself a "Mexican hillbilly," sits in his real estate office in Dodge City, Kan., April 3, 2007. When he arrived in 1987, the only Mexican-owned business in town was a secondhand... (Associated Press)

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