Real nonresidential construction tumbled at a record 44 percent annual rate during the first quarter, subtracting over two percentage points from real GDP. A large portion of the drop was due to a pullback in oil & gas drilling and exploration. Building activity is also winding down, particularly in office and commercial construction which includes multi-tenant retail space. The economic downturn ...
The National Association of realtors said on Tuesday that home prices dropped in 134 out of 152 metro areas on a year-over-year basis during the first quarter of this year.
Fannie Mae , the largest provider of funding for U.S. home mortgages, on Friday said it lost $23.2 billion in the first quarter, sending it to the Treasury for a second time for capital to keep it afloat.
Clayton Homes, the largest manufacturer of modular homes in the U.S., officially introduced its i-house (or ihome) which is perhaps the most affordable option for a low-carbon lifestyle at the moment.
Growing demand, cheaper financing and wider participation are expected to double the volume of asset-backed securities issuance in the upcoming round of the Federal Reserve's TALF program in June.
Dreaming of a tropical paradise to call your own? Several Australian islands off the Great Barrier Reef are on sale, and thanks to the global recession, they're cheaper than they used to be.
Interest rates on U.S. 30-year fixed-rate mortgages rose 0.06 percentage point in the latest week, according to a survey released on Thursday by home funding company Freddie Mac.
U.S. mortgage applications rose last week even as interest rates jumped to their highest levels since mid-March, data from an industry group showed on Wednesday.
Home values in the United States extended their fall in the first quarter, with more than one in five homeowners now owing more on their mortgages than their homes are worth, real estate website Zillow.com said on Wednesday.
Total construction spending increased 0.3 percent in March, far exceeding expectations. Residential construction spending fell 4.1 percent. Nonresidential construction spending rose 2.0 percent on the month driven by lodging, power and manufacturing. However, the gain is not expected to stick. Nonresidential will likely post declines well into 2010.
Last month in a Boston foreclosure sale, John Hancock Tower Lenders Took, a 65% Haircut In 3 Years . Boston is back in the news today with another foreclosure auction. This time it's condo related, with Chorus Bank in the thick of things.
Global sales of investment grade real estate plunged 73 percent to $47 billion in the first quarter from a year ago, or just one-sixth of the level two years ago, according to real estate research firm Real Capital Analytics on Friday.
U.S. construction spending rose in March for the first time in six months, edging up 0.3 percent, according to government data on Monday.
In recent months the availability of jumbo loans has decreased while the interest rate spread between jumbo rates and ten-year treasuries has widened. These developments are having a negative effect on the housing market.
The U.S. housing market is showing some early signs of a turnaround, but its too early to say if a full recovery is underway, Housing and Urban Development Secretary Shaun Donovan said on Wednesday.
U.S. real-estate investment trusts (REITs) enjoy strong investor support, despite the slump in U.S. property markets, because they have moved aggressively to repair their balance sheets, ING Real Estate said on Wednesday.
Although we have discussed commercial real estate many times in our comments over the past few years, we have never devoted the whole comment on the subject.
California's housing-market slump showed hints of improvement in March, with sales of existing single-family homes increasing 64% from the prior-year period and median home prices rising month-to-month for the first time since August 2007, according to a trade group report.
The head of a U.S. financial bailout watchdog panel said bankruptcy judges must be allowed to reduce home mortgage debt or the Obama administration's housing rescue efforts could fail in the areas where they are most needed.
The share of U.S. homes privately owned but empty in the first quarter of 2009 fell to levels last seen in mid-2007, a government report on Monday showed in a positive sign for the listless housing sector.
A weird quiet seems to have settled over the country. We're in the midst of the financial crisis, yet it feels like the whole thing has somehow passed. In fact, the ionized air around us suggests we're in the eye of this hurricane—experiencing a moment of calm before the storm whips up again.
Freddie Mac (FRE.P) (FRE.N), the second-largest U.S. home funding company, on Friday said its mortgage investment portfolio grew by an annualized 65.8 percent rate in March, while delinquencies on loans it guarantees accelerated.
California's Riverside County has been one of the most punished areas in the U.S. housing crash and now local leaders are among the first in the nation with a program to buy foreclosed homes and sell them back to young families.
Early signs of a decent spring selling season in the U.S. housing market, as mortgage rates hit near-record lows, have been snuffed out by the latest round of dismal data.
Deflation has arrived but inflation could be flaring up in a couple years. The latest March consumer price index showed the first decline over a 12 month period since the Eisenhower administration. With rising unemployment and excess factory capacity there is virtually no pressure for wages or prices to rise.
U.S. mortgage rates fell in the latest week, nudging closer to a recent record low, helped by government efforts to bring rates down to levels that will spur demand and help the hard-hit housing market begin to recover.
Two California lenders, First Regional Bancorp (FRGB.O) and Bank On It Inc (BKOT.OB), have entered agreements with the Federal Reserve Bank of San Francisco designed to ensure they remain financially sound, the regulator said on Thursday.
The pace of sales of existing homes in the United States fell 3.0 percent in March to a much lower-than-expected annual rate of 4.57 million units, the National Association of Realtors said on Thursday.
Manhattan office tower bought by property investor Harry Macklowe for $498 million nearly three years ago was taken over on Wednesday by one of its lenders, which made the only bid at an auction -- for $100,000.
GMAC LLC, the General Motors Corp financing affiliate that received a government bailout, said its mortgage unit is hiring 1,000 people to handle a surge in refinancings and jumbo loans.
