Supplies are at levels not seen since the frenzy of the last housing boom while the median price for a new home hit a record high, further signs that housing is recovering.» Read More
Even as Americans suffer rising unemployment, foreclosure rates in three states hit hardest by the housing bust stabilized in June, offering fresh hope that the worst is over.
New-home sales rose by the largest amount in nearly nine years last month, in another sign the housing market is finally bouncing back from the worst downturn in decades.
Ameriprise Financial Services on Friday agreed to pay more than $17 million to settle federal regulators' charges that it failed to disclose nearly $31 million received for selling certain investments to its brokerage customers.
With bad home mortgages on the back burner, the big threat to the economy is now believed to be troubled credit card, commercial real estate and commercial industrial debt.
A floor used by Madoff in the midtown Manhattan high-rise known as the Lipstick Building has been emptied out and put up for lease.
The developer of the World Trade Center site has threatened to go to arbitration to settle a monthslong impasse to rebuild ground zero.
Federal prosecutors in North Carolina filed criminal fraud conspiracy charges against Beazer Homes USA on Wednesday, but they agreed to dismiss the case if the company complies with an agreement accepting responsibility for certain wrongdoing and pays millions to victims.
Battered mortgage giant Freddie Mac received $6.1 billion in new funds from the Treasury Department to help offset its mounting liabilities, according to a regulatory filing submitted Wednesday.
The real estate market's troubles are hitting close to home for Treasury Secretary Timothy Geithner.
Thousands of first-time homebuyers will be able to get short-term loans so they can quickly make use of a new $8,000 tax credit to pay for some of the costs of buying a home purchase.
Mortgage rates at some lenders spiked by as much as 1 percent on Wednesday and saw little relief on Thursday, mortgage brokers said.
Diane Peek and Andrew Bou are part of a small but growing number of homeowners who are turning to the Internet to swap properties.
Many of the nation's largest public housing authorities fear they will be left out when the government distributes hundreds of millions of dollars for new plumbing, roofing and other capital improvements sought by Congress in the name of economic stimulus.
"My wife and I had thought of this as more of an in-between house," says one Cincinnati homeowner. "Now we have decided to concentrate on making our current home exactly like we want it."
The Federal Reserve announced Friday that it will launch a much-awaited program in June to bolster commercial real-estate lending. And, to help make the program more attractive to investors, the Fed will provide longer, five-year loans
The following is the full text of U.S. Federal Reserve Chairman Ben Bernanke's "Housing, Mortgage Markets and Foreclosures" speech issued in Washington Thursday and delivered before before the Fed conference on Housing and Mortgage Markets:
New US home sales dipped slightly last month, but still beat expectations as builders start to see long-awaited encouraging signs about the housing market.
New U.S. home sales dipped slightly last month, but still beat expectations as builders start to see long-awaited encouraging signs about the housing market.
The owners of ground zero, locked in a new round of heated talks with a private developer about how and when to build office towers at the World Trade Center site, have proposed indefinitely putting off two of three planned skyscrapers until the real estate market recovers, officials familiar with the negotiations say.
In a deal that will create the nation's biggest homebuilder, Pulte Homes is buying Centex for $1.3 billion in stock as both companies try to survive the worst real estate recession in a generation.