housing

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New Home Sales Drop 12.4% in July
 New Home Sales 
 Drop 12.4% in July 




SLOWEST PACE ON RECORD
Aug 25, 2010 9:22 AM CDT

New Home Sales Drop 12.4% in July

Sales pace falls way short of 330K expected

(Newser) - Sales of new US homes dropped sharply last month to the slowest pace on record, the latest sign that the economic recovery is fading. The Commerce Department says new home sales fell 12.4% in July from a month earlier to a seasonally adjusted annual sales pace of 276,600....

30K-Strong Mob Swarms Housing Wait List

Small crowd arrives today to drop them off

(Newser) - A mob of 30,000 people swarmed over an Atlanta parking lot in a heat wave yesterday, clamoring for an application to get on a waiting list for Section 8 housing assistance. Fights broke out, and children were reportedly trampled, with police stepping in to stop the onslaught, according to...

What Rebuilding Haiti Will Mean
 What Rebuilding Haiti Will Mean 
Jan 19, 2010 4:45 AM CST

What Rebuilding Haiti Will Mean

Debt relief, housing quality, and a better government are key

(Newser) - World leaders have vowed to rebuild Haiti's infrastructure into something better than it was before; the Independent takes a look at what this would mean in practice:
  • Higher-quality housing: Haiti has no building codes; international donors should insist the new dwellings their funds build for those left homeless in the
...

How Australia Dodged the Recession

How one country ducked the economic downturn

(Newser) - Australia has weathered the financial crisis better than any other developed country. Last week its central bank raised interest rates, indicating its primary concern is now inflation, not growth. What were the keys? Phil Dobbie of BNET explains:
  • Befriending China: Australia used to export much of what it made to
...

Lawsuits Over Chinese Drywall Mounting

More homeowners cite damage, sickness, as feds finish inquiry

(Newser) - With the controversy over Chinese drywall about to come to a head, the New York Times checks in on the issue and finds hundreds of lawsuits piling up around the country. The imported material, which became common as builders scrambled for supplies during the housing boom, is said to be...

Dow Dips 2 Points
 Dow Dips 2 Points 
MARKETS
Sep 17, 2009 3:20 PM CDT

Dow Dips 2 Points

Housing starts rise, but come in below expectations

(Newser) - Stocks posted small losses today as the modest rally of the last two weeks ran out of steam, the Wall Street Journal reports. Housing starts for August rose 1.5%, less than expected. FedEx shares dropped after the company reported a 53% drop in quarterly profit. The Dow fell 2...

Fed Housing Policy Shift: Rent, Don't Own

Jackhammers Bush "ownership" policy

(Newser) - In a major housing policy shift, President Barack Obama will steer billions of economic stimulus dollars to create tens of thousands of federally subsidized rental units in American cities, reports the Boston Globe. The $4.25 billion initiative is a stark departure from former president George Bush's push to create...

Dow Ends Solid Week Up 32
 Dow Ends Solid Week Up 32 
MARKETS
Jul 17, 2009 3:17 PM CDT

Dow Ends Solid Week Up 32

Indices all up at least 7% for the week

(Newser) - Stocks were generally flat today as investors stepped back from a 4-day rally. IBM boosted the Dow, rising 4.3% after reporting strong quarterly profits, the Wall Street Journal reports. GE and Bank of America both trended lower after reporting declining earnings. Housing data showed home construction rose in June,...

Get Ready for New Wave of Foreclosures

(Newser) - Another wave of foreclosures is on the way, possibly as early as this summer, threatening to upend a housing market that had begun to stabilize, the LA Times reports. Though loan defaults are up sharply, banks have been delaying foreclosures lately thanks to the Obama administration’s home-stability plan. Now...

Celebs Headed for Foreclosure

Jacko, Canseco, Ed McMahon fight for roofs over their heads

(Newser) - Even the famous aren't immune to foreclosure, as these celebrities, listed in Forbes, prove:
  • Xzibit: A pimped ride hasn’t been enough to pay the bills on his $536,000 Woodland Hills, Calif., home.
  • Jose Canseco: The ex-ballplayer, who penned a book on big-league steroids, stands to lose his $2.
...

1 in 5 Homeowners Underwater
 1 in 5 Homeowners Underwater 
May 6, 2009 7:09 AM CDT

1 in 5 Homeowners Underwater

Negative equity spikes to 21.9% as prices keep dropping

(Newser) - More than one in five American homeowners owe more on their mortgages than their homes are worth, according to a new study. The increase in negative equity has been accompanied by new signs that first-time buyers are taking advantage of lower prices in the housing market. But as prices continue...

Crashed Market Opens Doors for New Homeowners

Foreclosed homes affordable to middle-class families

(Newser) - Since the real estate market collapsed, buying a home has become possible for middle-class families for whom it was previously out of reach, the New York Times reports. Taina Goldman, a Miami nurse, recently paid $187,000 for a house worth $370,000 three years ago. And she’s not...

Fannie Mae's Task: Sell 65K Homes in Buyer's Market

Unloading homes quickly while maintaining value, Fannie walks tightrope

(Newser) - It’s no secret that for US homeowners, it’s not a seller’s market. But imagine having 65,000 properties to sell. That’s the task ahead of Fannie Mae, NPR reports, as its volume of repossessed homes grows by the day. The guarantor of a third of all...

Buyers Lose $32 Million as Trump's Baja Bet Folds

Donald's name drew deposits which couldn't be refunded

(Newser) - Donald Trump lost some very big fans when his  luxury hotel-condo plan in Mexico collapsed, leaving little more than a hole in the ground and investors out of $32.2 million in deposits, the AP reports. Trump and his children heavily promoted the resort on the northern tip of Mexico's...

Capitol Goes Gaga for Pitt
 Capitol Goes Gaga for Pitt 

Mar 6, 2009 8:01 AM CST

Capitol Goes Gaga for Pitt

Brad discusses New Orleans, lawmakers swoon

(Newser) - Brad Pitt was in Washington yesterday for a serious reason, but the effect he had on lawmakers was not entirely professional, with many employees ditching their offices to nonchalantly hang out in the halls hoping to catch a glimpse of the superstar, AP reports. It wasn’t all fun and...

Stocks Mixed; Dow Up 3 Points
 Stocks Mixed; Dow Up 3 Points 
MARKETS
Feb 18, 2009 3:17 PM CST

Stocks Mixed; Dow Up 3 Points

Greenspan comments on nationalization keep financials down

(Newser) - Stocks vacillated between minor gains and losses today, perking up slightly after President Obama announced his housing plan, MarketWatch reports. Financials continued to slide after Alan Greenspan suggested in a Financial Times interview that bank nationalization would be the “least bad” way to solve the crisis. The Dow gained...

Co-Founder of Habitat for Humanity Dies
Co-Founder
of Habitat for Humanity Dies
OBITUARY
Feb 3, 2009 11:28 AM CST

Co-Founder of Habitat for Humanity Dies

Fuller and his wife dumped riches to live out Christian values

(Newser) - Millard Fuller, the millionaire entrepreneur who gave it all away to help found the Christian house-building charity Habitat for Humanity, has died at 74. His wife Linda says her husband was complaining of chest pains, headache, and difficulty swallowing before his death early today. A global 100-house "blitz build"...

McMansions, Like Everything Else, Are Shrinking

Average home size declines in what analysts call 'right-sizing'

(Newser) - Confirming what industry professionals have long suspected, builders and buyers alike are foregoing super-sized “McMansions” for smaller, more economical homes, the Wall Street Journal reports. The average home started in 2008’s third quarter was 2,438 square feet, down from 2,629 in the second quarter. The median...

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...

Job, Housing Woes Sink Stocks
 Job, Housing Woes Sink Stocks 
MARKET Open
Jan 22, 2009 8:53 AM CST

Job, Housing Woes Sink Stocks

(Newser) - Stocks headed south this morning, following worse-than-expected housing and job data. Jobless claims rose by 62,000 last week, and housing starts slid 15.5%, to their slowest pace on record. The Dow sunk 144 points, accompanied by an 18-point decline in the S&P. A strong quarter from Apple...

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