Posts Tagged ‘Housing’

U.S. housing starts continue rise in August

Despite the stalled economy, the housing market shows little sign of slowing down as construction on new homes in August increased by 2.3 per cent, driven by single-family home starts that grew at the fastest rate in more than two years indicating that the U.S. real estate market has not yet lost its momentum. Article […]

Sliding home values knock 40 percent from U.S. household median net worth

Diane Alter – Fourth Estate Cooperative Reporter New York, N.Y., United States (4E) – Sinking home values have contributed to a 39 percent decline in the median U.S. household from 2007 to 2010. A Federal Reserve report Monday underscored the impact of the financial crisis and the recession on the average American. Taking the biggest […]

Pending sales rise for existing homes

In another sign that the ailing U.S. housing market is showing some signs of life, the number of Americans signing contracts to buy previously owned homes rose more than expected in January. Article © AHN – All Rights Reserved Economy, Business And Finance Stories

SEC Warns Top Banker of Charges Over Magnetar Deal

According to the Wall Street Journal, the Securities and Exchange Commission has warned a top banker that it may bring civil charges against him for his role in creating a risky collateralized debt obligation, or CDO, that exploded spectacularly as the housing market crashed. It’s the first public evidence that the SEC is considering charges […]

How Citibank Dumped Lousy Mortgages on the Government

Citigroup agreed yesterday to pay $ 158 million to settle a lawsuit over bad loans that the bank passed on to the Federal Housing Administration to insure. The whistle-blower who originally brought the case, Sherry Hunt, an employee of Citi’s mortgage department, said the company actively undermined the process that was supposed to check for […]

U.S. stocks fall Tuesday following housing report

Diane Alter – AHN News Reporter New York, NY, United States (AHN) – U.S. stocks slumped on the open Tuesday following a three-day rally for the Standard and Poor’s 500 Index after a report showed that home prices dropped more than forecast. Just after 10 a.m. the Dow Jones Industrial Average was down 136 points, […]

U.S. to sue big banks over risky mortgages

The U.S. government is ready to sue a dozen big banks over risky mortgages they sold and lost value during the housing collapse. View full post on Banking Stories

Watchdog sues 17 groups over securities

US Federal Housing Finance Agency alleges the financial groups mis-sold almost $200bn of mortgage-backed securities and demands compensation View full post on UK Business Stories

Housing bust deals double blow to small businesses

Keith Sutton has been building homes in Cleveland since 1991 and was selling 20 houses a year at the top of the boom. Today he’s sitting on 50 lots he can’t get rid of and is $3.5 million in debt, including close to $1… View full post on Business Stories

First time buyers ‘shut out’ of housing market

A typical first-time buyer would have to save every penny they earned for more than two years in order to get on to the housing ladder. Related Stories House prices drop for third month in a row Remortgage level at ten-year low Housing market ‘subdued’ View full post on UK Business Stories