Lenders sent California homeowners the highest number of mortgage default notices in more than a decade during the second quarter, the result of flat or falling prices, anemic sales and a market struggling with the excesses of the 2004-2005 home-buyi
Meet your future landlord: Thanks to the Federal Reserve and our own profigacy, Washington is looking to China to bail out the distressed mortgage industry.
Warnings from homebuilders continue to pile up, indicating a bottom in the housing downturn is still nowhere in sight. Ryland Group became the latest victim, warning it expects to post a sharp loss because of the continued deterioration in the
In what the online financial news site MarketWatch called "a huge harpoon into the heart of the mortgage credit bubble," S&P would likely cut the ratings on about $12 billion in debt and announced it would revise its criteria for assigning
Fresh troubles in the subprime segment of the US housing market have reignited fears of contagion that could affect the broad financial sector and possibly the broader economy, analysts say.
The shortcomings of Fannie Mae have been overlooked on the basis that Fannie plays a critical role in driving the housing sector, and thus the American economy. As Fannie goes, so goes the nation. Fannie means housing, and accordingly, Fannie
Merrill Lynch & Co.'s threat to sell $800 million of mortgage securities seized from Bear Stearns Cos. hedge funds is sending shudders across Wall Street.
US foreclosure filings surged 90 percent in May from a year earlier as more homeowners fell behind on their monthly mortgage payments, RealtyTrac. said. There were 176,137 notices of default scheduled auctions and bank repossessions last month
On Kentucky Derby Drive in Moreno Valley, CA, the houses with "for sale" signs on their lawns boast Craftsman-style facades, roomy floor plans and granite-countered kitchens. Four of the nine have something else in common: They're owne
Ben Bernanke's speech on the real estate market was an exercise in futility. He did not refer to the obvious: his predecessor's monetary policy, which created a real estate bubble. He promised new regulatory measures, which are old measures w
We are pleased to announce the Implode-O-Meter's Premium service, "Housing Finance Watch".
Don’t buy the spin- sales are DOWN- sales typically rise month-over-month this time of year. As temperatures rise in the spring, so do home sales- it is important to compare the year-over-year data as this is the more significant comparison. Also n
A gauge of future economic activity showed the U.S. economy will slow in coming months, reversing recent gains and suggesting higher gas prices and a sluggish construction industry are beginning to take their toll.
Judy Weil submits: Here's our summary of articles and data points on the housing market. It's part of Seeking Alpha's coverage of the real estate market and homebuilder stocks.
Maybe you guessed it, but now it's official: The housing market has not hit bottom. Poor home sales in cold-and-quiet February may be excusable; but in March, April, and May, they are a sure sign of distress. The latest numbers indicate that the
The home-loan industry, facing the worst housing downturn since the early 1990s, is ramping up efforts to help strapped borrowers stay in their homes. The goal is to restrain a gathering wave of foreclosures that carries big costs for both lenders
Sales of existing homes plunged in March by the largest amount in nearly two decades, reflecting bad weather and increasing problems in the subprime mortgage market, an real estate trade group reported Tuesday. The Nat Ass of Realtors
Freddie Mac's chairman and chief executive, said the company is "working on a major effort to develop more consumer-friendly subprime products that will provide stable financing alternatives going forward," which are expected by midsumm
Two years ago, anyone who wrote about the housing bubble was dismissed as a conspiracy nut. Now hardly a day goes by that the headlines aren’t splattered with the details of the massive meltdown in the real estate market. What changed? The facts a
WASHINGTON (MarketWatch) -- U.S. home prices will probably fall this year for the first time in at least 38 years, the National Association of Realtors said Wednesday.
(This is the SPIN Story) Fannie Mae and Freddie Mac have made progress in addressing the problems from their massive accounting scandals, though it is taking "much more time and money" to correct them than expected, the companies' regul
Mortgage mess spreads to Alt-A segment - Subprime turmoil ensnaring companies that lend to people with good credit
As many as 130,000 homeowners – the most in 30 years – are going into foreclosure each month. Experts worry that entire neighborhoods will decline – similar to what happened in the 1960s and '70s – as abandoned foreclosed homes cause property val
"...businesses are having cash flow problems, reflecting the erosion of the economy as a whole,” North continued. He believes that credit managers are starting to feel the effects of a deflating housing bubble and a slowdown in the economy...**Q
Sheriff Leo McGuire presides over foreclosure auctions in Bergen County, New Jersey, where the bidding for a home reaches $1.2 million last June -- a record for one of the wealthiest counties in the nation.
Sales of new homes fell for a second consecutive month in February, dimming hopes for a rebound soon in the troubled housing market and raising fears about the health of the overall economy. The Commerce Department reported that sales of single-fa
They ran out of money first. Then, they ran out of time. Soon, they'll almost certainly be out of a home. A number of subprime lenders, saddled by failed loans and a shortage of cash, have folded or staggered.
In a sign of the spreading economic fallout of mortgage foreclosures, several suburbs of Cleveland, one of the nation’s hardest-hit cities, are spending millions of dollars to maintain vacant houses to try to contain blight and real-estate panic.
In a sign of the spreading economic fallout of mortgage foreclosures, several suburbs of Cleveland, one of the nation’s hardest-hit cities, are spending millions of dollars to maintain vacant houses as they try to contain blight and real-estate panic