housing market

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Foreclosure Scandal Messing Up Home Sales
Foreclosure Scandal Messing Up Home Sales
UPDATED
Oct 8, 2010 9:41 AM CDT

Foreclosure Scandal Messing Up Home Sales

Thousands of sales thrown into limbo

(Newser) - Hundreds of thousands of foreclosures have been thrown into limbo in the wake of revelations that major lenders didn’t properly review the foreclosure documents, creating a big mess for people trying to buy those homes, the New York Times reports. JPMorgan and GMAC have suspended foreclosures in the 23...

Home Prices Up 3.2% Over July 2009
 Home Prices Up 3.2% 
 Over July 2009 

but downturn looms
Sep 28, 2010 8:47 AM CDT

Home Prices Up 3.2% Over July 2009

July numbers up .6% from June, but demand weakening

(Newser) - Home prices rose in July for the fourth straight month, but many cities are bracing for declines in the year ahead. The Standard & Poor's/Case-Shiller 20-city home price index increased 0.6% in July from June and 3.2% from a year ago. Twelve cities showed monthly price gains. However,...

Home Repos Hit Recession High

US on track for 1M foreclosures this year

(Newser) - Lenders took back more homes in August than any month since the start of the US mortgage crisis. The increase in home repossessions came even as the number of properties entering the foreclosure process slowed for the seventh month in a row, RealtyTrac said today. In all, banks repossessed 95,...

Hands Off, Obama: Let Housing Prices Fall
Hands Off, Obama:
Let Housing Prices Fall
opinion
Aug 28, 2010 1:07 PM CDT

Hands Off, Obama: Let Housing Prices Fall

False incentives will hurt us in the long run

(Newser) - In case you missed it, be advised that home sales have fallen off a cliff. This week's grim numbers will no doubt raise the call for the Obama administration to reach into its bag of tricks (bring back that tax credit, maybe?) to encourage people to buy and thus keep...

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....

July Home Sales Plummet 27.2%
 July Home Sales 
 Plummet 27.2% 


LOWEST LEVEL SINCE '95
Aug 24, 2010 9:20 AM CDT

July Home Sales Plummet 27.2%

Largest drop since records began in 1968

(Newser) - Sales of previously occupied US homes fell to the lowest level in 15 years last month as the economy weakened. The National Association of Realtors says July's sales fell by more than 27% to a seasonally adjusted annual rate of 3.83 million. It is the largest monthly drop noted...

Your House Isn't Going to Appreciate Like Mad

Those days are done, say economists

(Newser) - In the good old days, a house was generally synonymous with "cash cow," a rapidly appreciating investment that all but guaranteed a comfortable retirement and paid for college tuition and vacations along the way. Those days of quick appreciation are gone, say economists, and have been replaced by...

Tax Credits Gone, New Home Sales Plunge 33%

May numbers are lowest since 1963

(Newser) - Sales of new homes collapsed last month, sinking 33% to the lowest level on record as potential buyers stopped shopping for homes once they could no longer get government incentives. The Commerce Department says new home sales fell in May from a month earlier to a seasonally adjusted annual sales...

Troubled Homeowners Try New Policy: Just Don't Pay

With 438 days before the average eviction, why bother?

(Newser) - Some homeowners in foreclosure are done with trying to wrangle loan modification from the banks. They've adopted a different policy: evict me if you dare. With more than 1.7 million households in foreclosure, it can take a long time for the courts to actually eject homeowners. Last year, the...

New Home Sales Take Huge Leap
 New Home Sales 
 Take Huge Leap 

Apr 23, 2010 10:08 AM CDT

New Home Sales Take Huge Leap

Crucial metric scores biggest jump in 47 years

(Newser) - Sales of new homes surged 27% last month, bouncing off the previous month's record low and blowing past expectations as better weather and government incentives boosted sales. In all, new home sales rose to a seasonally adjusted annual pace of 411,000 in March, the biggest monthly jump in 47...

Goldman Sachs Investor Made Billions on Housing Mess

Paulson not charged in SEC's takedown

(Newser) - As the housing market imploded, John Paulson laughed all the way to the bank, pocketing billions on his correct prediction of impending doom. But when the SEC charged Goldman Sachs yesterday with defrauding investors by not disclosing Paulson's bets against the mortgage-backed securities Goldman was peddling, one name was noticeably...

Foreclosures Hit New High as Banks Clean House

One in every 138 homes taken

(Newser) - A record number of US homes were lost to foreclosure in the first three months of this year, a sign that banks are starting to wade through the backlog of troubled home loans at a faster pace, according to a new report. RealtyTrac said today that the number of homes...

After 5 Quarters of Decline, Rent Just Went Up

Stabilizing prices might signal ravaged sector has found bottom

(Newser) - Rents crept up nationally in the first quarter, notching a 0.3% increase that ended five straight quarters of decline in a sector that's been particularly battered by the recession. The vacancy rate—closely linked to unemployment—held steady at 8%, while 60 of the 79 markets surveyed reported higher...

NPR's New Pet: A Toxic Asset
 NPR's New Pet: A Toxic Asset 
'WATCH IT DIE'
Mar 12, 2010 5:54 PM CST

NPR's New Pet: A Toxic Asset

Reporters buy a window into the financial crisis

(Newser) - Despite being widely blamed for the financial crisis, the bundled mortgage bonds commonly known as "toxic" assets still exist, and trading is beginning to recover. In hopes of getting a new perspective on the financial crisis, NPR's Planet Money decided to buy a toxic asset. After some searching—the...

Obama Weighs Foreclosure Ban

Proposal would require HAMP to review all delinquent mortgage loans

(Newser) - The Obama administration is considering kicking up the fight against foreclosures by banning any that haven't been reviewed by its Home Affordable Modification program. The move would prevent lenders from initiating foreclosure unless HAMP had screened the loan and found it unsalvageable. it would also require them to halt existing...

New Home Sales Plummet 11.2%, Erase All '09 Gains

Drop surprises analysts, wipes out recent gains

(Newser) - New home sales took a stunning plunge in January, dropping 11.2% to a new record low, wiping out all the gains the housing market had made over the past year. The figure blindsided analysts, who had expected a 3.8% increase, according to a Wall Street Journal poll. The...

Millions Considering Walking Away From Mortgages

10% of mortgages expected to be underwater by June

(Newser) - The long slide in property values has left huge numbers of homeowners considering just walking away from their mortgages. People start thinking about jumping ship when their home value falls below 75% of what they paid for it, according to new research. Over 5 million Americans are expected to be...

Now's the Time to Buy a New Home
 Now's the Time to 
 Buy a New Home 
analysis
Dec 29, 2009 5:35 PM CST

Now's the Time to Buy a New Home

Prices and mortgage rates are down—a 'winning combination'

(Newser) - Today's new stats on housing prices yield one shakable fact amid tons of useless information: If you’re in the market for a house, this could be your moment. “Homes are now cheap,” writes Brett Arends. The combination of a 30% drop in home prices since 2005 and...

Home Sales Jump 7.4%
 Home Sales Jump 7.4% 
Dec 22, 2009 9:14 AM CST

Home Sales Jump 7.4%

November figures up a record 44% from 2008

(Newser) - Home resales surged to the highest level in nearly three years, reflecting an extraordinary level of federal support that has pulled the housing market back from the worst downturn since the Great Depression. The National Association of Realtors says sales rose 7.4% to a seasonally adjusted annual rate of...

Mortgage Defaults Top 1M, Keep Rising

Even those with lowered payments are defaulting

(Newser) - The number of troubled home loans continued to rise in the third quarter, despite the Obama camp's efforts to stem the tide by mortgage modification. For the first quarter ever, the number of homes in foreclosure with mortgages serviced by US banks topped the 1 million mark, the Los Angeles ...

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