August Housing Starts Fall More than Expected
August Housing Starts Fall More than Expected
By Jason Lange, Reuters, Sept. 20, 2011
Housing starts decreased the most since April, down 5.0 percent to a seasonally adjusted annual rate of 571,000 units, the Commerce Department said on Tuesday. An overhang of previously owned homes on the market has left builders with little appetite to break ground on new projects and is frustrating the economy's recovery from the 2007-09 recession.
The Newest Threat to Home Prices
By Janice Revell, Fortune Magazine, Sept. 19, 2011
The rancorous debate about how to address our escalating national debt has dominated the conversation in Washington lately. What isn't getting much attention inside the Beltway -- but should -- is a looming event that could have major consequences not only for your home's value but also for the overall economic recovery. Barring last-minute action by Congress, upscale housing is about to take another punch to the solar plexus -- just as it's struggling to stabilize.
Foreclosure Complaint? Call 1-800-ROBO
By Alan Zibel, Wall Street Journal, Sept. 19, 2011
It probably won’t include “1-800-ROBO,” but big banks are preparing to launch a toll-free number to find consumers harmed by problems in foreclosure processing. The effort to find consumers is an outgrowth of the controversy over so-called robo-signing and other problematic foreclosure practices. Also, read this Wall Street Journal article.
Where's the Federal Plan to Tackle Crippling Housing Problem?
By Kevin Hall, McClatchy Newspapers, Sept. 19, 2011
While lawmakers and the president scrap over deficit reduction and jobs plans, they're largely overlooking one of the biggest drags on employment and a major cause of our national economic woes: the moribund housing sector. There's a growing cry in economic circles for new steps to revive this sector, which year after year has been the subject of optimistic predictions about soon hitting a bottom that turns out to be, well, bottomless.
The New Face of Foreclosure: Strategic Defaults
By Laura Rowley, Fox News, Sept. 19, 2011
Gene Kessler, 67, may be the new face of mortgage default. The tech industry retiree is in the process of walking away from the home he purchased for $166,000 in 2004 in a small town 75 miles southwest of Minneapolis.
Thinking About Buying a Vacation Home?
By Shelagh McNally, Times & Transcript, Sept. 20, 2011
When the U.S. real estate bubble burst, housing prices plummeted and foreclosures surged. It's still a buyer's market, particularly in Arizona and Florida, and Canadians are taking advantage of our strong dollar and shopping for real estate in these sun belt destinations.
Law Firm Warns of Foreclosure Ruling's Effect
By Kimberly Miller, Palm Beach Post, Sept. 16, 2011
The national law firm of Greenberg Traurig issued an alert this week warning its lawyers that a 4th District Court of Appeal ruling in favor of Palm Beach County homeowners could "dramatically change the foreclosure landscape in Florida."