The New England economy showed clear signs of improvement over the past several weeks as employers began to gain confidence that a recovery is on the way, according to a survey of businesses by the Federal Reserve.
The survey, known as the Beige Book, reported rising home sales in the region and increased demand for temporary [...]
Americans borrowed less for the sixth consecutive month in July, fueling concerns that strained consumers will stall an economic recovery.
People shed debt by choice and by force, reflecting a combination of the thrifty attitudes and tighter lending conditions that have defined the recession. Total borrowing, which includes most consumer loans except real estate, decreased at [...]
The central bank on Wednesday reduced its target for the federal funds rate, the interest banks charge on overnight loans, to 1 percent, a low last seen in 2003-2004. The funds rate has not been lower since 1958, when Dwight Eisenhower was president.
In a brief statement explaining Wednesdays action, the Fed said the “intensification of [...]
Integrated Asset Services, LLC (IAS, www.iasreo.com), a leader in default management and residential collateral valuation, today released its IAS360 House Price Index for August 2008. The monthly report, which includes the most current and granular data available in the industry, showed a 0.2 % decline in house prices on a national level in August, and [...]
Gov. Jon Corzine today said the impact from the recent stock market plunge and credit crisis has yet to be fully realized and will likely bring “rising levels of unemployment,” adding New Jersey may even try to purchase homes to protect residents from foreclosure.
Speaking this morning on NBC’s “Meet the Press,” Corzine proposed the federal [...]
Here is the prepared statement of U.S. Treasury Secretary Henry Paulson on Wednesday, as released by the Treasury.
Good afternoon. Last Friday Congress finalized and President Bush signed into law the bipartisan Emergency Economic Stabilization Act. The EESA provides the Treasury, the Federal Reserve and the FDIC with important new authorities to complement existing ones. We [...]
Home foreclosure rates in the Rio Grande Valley are the highest in the state of Texas. But as homeowners lose their properties, others benefit by buying and then reselling them. A local investor says although it is a foreclosure market, trying to sell the home he just renovated has become more difficult.
Ever since entering the [...]
The Bush administration’s pledge to rescue ailing housing finance giants Fannie Mae and Freddie Mac raises anew questions about just when the nation’s dismal housing market will hit bottom.
Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson have suggested over the past year that an end is in sight. But with each prediction, things [...]
Home sellers, agents and brokers nervously tuned in Monday to news of Wall Street titans collapsing or teetering, as Lehman Brothers Holdings Inc. filed for bankruptcy, Merrill Lynch & Co. was sold to Bank of America Corp. and New York-based insurance giant American International Group Inc. struggled to stabilize its finances.
Until now, the New York [...]
The real estate business runs on jobs.
Oh sure, you need low interest rates and a ready supply of debt to do property market deals.
But for the industry to do really well, there has to be a sound economy and job growth.
Fortunately for Dallas-Fort Worth real estate developers and investors, this area leads the country in [...]