The New York City housing market is more active than others around the country, but that’s working out better for whites and Asians than it is for blacks and Latinos. That’s according to an analysis of recent financial data gathered by the Furman Center for Real Estate and Urban Policy. Director Vicki Been says from [...]
Confidence among U.S. homebuilders slid in October to the lowest level since record-keeping began in 1985, a sign the crisis in credit markets may deepen the worst housing recession in a generation.
The National Association of Home Builders/Wells Fargo index of builder confidence decreased to 14, less than forecast, from 17 in September, the Washington-based association [...]
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 [...]
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 [...]
Governor Charlie Crist today praised more than $1 billion in federal support for Florida’s housing market, made possible by the federal Housing and Economic Recovery Act of 2008 passed by Congress this summer. He also announced that Standard &Poor’s has affirmed a “AAA” rating with a stable outlook to Florida’s general obligation bonds.
“I commend Florida’s [...]
Tracy Dearman has plenty of long-term perspective on the current real estate downturn. She runs a small San Francisco brokerage that was started by her grandmother on Haight Street more than 50 years ago. “We have seen many cycles in the real estate market, but nothing quite like this,” said Dearman, 46. “Our sales and [...]
As voters across the country prepare to head to the polls in November, questions about subprime lending and the solutions to our current housing troubles are coming to the top of the nation’s mind. Do these plans make sense? Are they feasible? Who will pay for them? What will be their long-term consequences?
Fighting Foreclosure
Obama wants [...]
Alan Greenspan has definitely been keeping busy since retiring from the Federal Reserve; apparently he’s been strategizing ways to solve the housing crisis, among other things.
In the Capital column in today’s Wall Street Journal, he shares his thoughts on the real estate market and the housing bailout bill recently signed by President Bush. The column, [...]
The United States is still suffering the worst housing market downturn since the Great Depression, but a slew of factors suggest the worst may soon be over.
Among the strongest signs that the the hard-hit sector could be recovering, home prices in many regions of the country are now falling at a slower rate, after two [...]
Fannie Mae, the largest U.S. mortgage-finance company, reported a $2.3 billion loss for its second quarter, as credit costs swelled to $5.3 billion stemming from higher loan loss provisions and charge-offs amid challenging conditions in the housing and mortgage markets. The company also trimmed its quarterly dividend. Shares of the company were trading down more [...]