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New Home Sales Tanked 32.7% in May June 23, 2010, CNNMoney.com New home sales plummeted to a record low in May, the first month following the expiration of the homebuyer tax credit. This snapped a two-month streak of gains. New home sales declined 32.7% to a seasonally adjusted rate of 300,000 last month...
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Misguided Housing Subsidies Promote Unfairness, Bailouts June 22, 2010, USA TODAY If there are two things that middle-class taxpayers who behave responsibly don't like, they are (1) having their money go to irresponsible people, and (2) having their money go to richer people. Existing Home Sales...
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Lawmakers Battle Over Foreclosure Remedies June 20, 2010, Press Enterprise The number of mortgage defaults and home foreclosures is falling in the Inland area and around the state, but the tug of war between the lending industry and people pushing for new borrower protections is still going strong at...
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U.S. Foreclosure Filings Rise 16% as Bank Seizures Set Record April 15, 2010, Business Week Foreclosure filings in the U.S. rose 16 percent in the first quarter from a year earlier and bank seizures hit a record as lenders stepped up action against delinquent homeowners, according to RealtyTrac Inc....
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Housing Starts in U.S. Climb 8.9% to 574,000 Pace December 16, 2009, Bloomberg Builders in November broke ground on more U.S. homes, a sign the recovery in homebuilding may carry through into 2010. Housing starts rose 8.9 percent to an annual rate of 574,000, the Commerce Department said today in Washington...
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Demand for U.S. Foreclosure Properties Slips: Survey December 15, 2009, Reuters U.S. home buyers are less willing to buy foreclosed properties than six months ago, citing risks like hidden costs, but demand could grow because of the government's expanded tax credit, a new survey showed on Tuesday...
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U.S., Lenders Seek Ways to Head Off New Mortgage-Default Wave October 7, 2009, Wall Street Journal Lenders and government officials are searching for ways to head off a wave of defaults on pay-option adjustable-rate mortgages, which are threatening to become the next storm to hit the U.S. housing market...
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A Look Ahead To the Great Resetting October 3, 2009, Washington Post Millions of adjustable-rate mortgages are going to reset in the coming years, possibly to higher interest rates, creating the prospect of a new round of foreclosures. About 10 percent of all mortgages in this country are scheduled to...
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Real Estate Slump Isn't Over, Exec Says September 18, 2009, San Diego Union-Tribune Federal Reserve Chairman Ben Bernanke may think the recession is over, but the head of the nation's largest real estate services firm says the slump has two or three years to go in his industry. John C. Cushman...
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New-Home Sales Post Another Strong Gain August 26, 2009, Wall Street Journal New-home sales climbed more than anticipated in July, staging their fourth straight month of strong gains to add to evidence that the housing market is emerging from its long slump. Sales of single-family homes increased by...