home prices

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Existing-Home Sales Plummet Past Predictions

(Newser) - The housing market absorbed more bad news today. Existing-home sales dropped 8% in September, hitting their lowest level since at least 1999, as tighter credit standards kept buyers away. The 5.04 million annual rate was far below projections, bolstering predictions of another rate cut by the Fed next week....

Top Chicago Homebuilder Goes Bankrupt

Neumann becomes second largest builder to fall in subprime collapse

(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...

Credit Crisis Could Torpedo UK Housing Market, Too

Prices more inflated than US, agency warns

(Newser) - Britain risks its own housing price crash, according to an International Monetary Fund report. The UK is in a credit crunch similar to the ongoing US version, and its housing is more overpriced than the US market before the crisis. In fact, "a number of advanced economies' housing markets...

Where to Find Housing Bargains
Where to Find Housing Bargains
Sep 26, 2007 1:48 PM CDT

Where to Find Housing Bargains

Where to look to make sure your next home is a solid asset—and where not to

(Newser) - Taking into account current affordability, projected growth, and employment opportunities, BusinessWeek pick the best and worst prospects for bargains in the US housing market. The best, in alphabetical order:
  1. Austin-Round Rock, Texas
  2. Baton Rouge, La.
  3. Birmingham-Hoover, Ala.

Largest US Homebuilder Posts Biggest Losses Ever

Lennar stock drops after worse-than-expected earnings report

(Newser) - The atrophied housing market has sent America’s largest homebuilder into even more of tailspin than expected. Lennar announced today it lost $513.9 million last quarter, or $3.25 per share—the worst losses in its 53-year history. Lennar says home discounting and the dismal mortgage situation will force...

US Median Home Price to Drop
US Median Home Price
to Drop
Aug 26, 2007 3:08 PM CDT

US Median Home Price to Drop

Projected 1-2% decline for 2007 would be the first since 1950

(Newser) - The median cost of an American home, now $220,000, is expected to drop this year for the first time since tracking began in 1950, reports the New York Times. The decline will be modest—1 to 2%—but could last into 2008 and 2009, meaning that, adjusting for inflation,...

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