Pulte Homes is rushing to build more so-called active adult communities catering to baby boomers, many who still work full time.» Read More
Not to sound like a broken record, but only when we work through the vast inventory and shadow inventory of foreclosed properties, can home prices bottom and housing overall recovery. Obviously certain states/markets are more burdened by the distress than others, but it's a universal truth.
Existing home sales were basically flat in April, down close to one percent month to month and down nearly 13 percent year over year, but you have to remember last year we were heavily under the influence of the home buyer tax credit. Now we are heavily under the influence of the mortgage market, or lack thereof.
Foreclosure activity decreased in April for the seventh straight month, bringing total foreclosure activity to a 40-month low, according to a new report from RealtyTrac. This is not to say that default notices, scheduled auctions and bank repossessions aren't running well above the norms, with one in every 593 U.S. households receiving a foreclosure filing in April. The numbers are actually quite deceptive.
The percentage of underwater mortgages has hit a new high. Will that accelerate foreclosures? CNBC's Diana Olick has the details.
CNBC's Diana Olick has the details on the drop of home value and insight on whether banks are standing in the way, with Matt McCormick, Bahl & Gaynor Investment Counsel and Susan Wachter, Wharton Business School.
The buyers’ market for vacation homes is likely to continue for years, with activity largely limited to buyers with enough cash to circumvent a tighter, post-recession lending environment.
Home prices have double dipped nationwide, now lower than their March 2009 trough, according to a new report from Clear Capital.
For the first time in years, the man who quantifies the foreclosure crisis got to report some good news. This month he got to report a drop in mortgage delinquencies, down more than 11 percent month-over month, to the lowest level since 2008.
If there’s one takeaway from the banks’ first-quarter earnings this week, it’s got to be this: Mortgages are still a real problem.
As federal regulators clamp down on foreclosure procedures at the big banks, and the government sets new lender requirements for risk retention in residential mortgages, the cry from the industry is that this will only hamper the housing recovery and price more borrowers out of home ownership.
As foreclosures continue to mount, BofA's CEO is expressing skepticism about loan modifications, with Kathleen Day, Center for Responsible Lending, and Mark Calabria, Cato Institute.
You would think that mortgage lenders would be chastened by the financial crisis and prolonged economic slump. After all, mortgage loans played a central role in the calamity from which we are still struggling to recover.
The severe and prolonged downturn in housing likely will have one notable beneficiary: Demand for multi-family dwellings is expected to rise as more owners switch to renting.
The risk retention standards under the Dodd-Frank Act being voted on this week by federal regulators are an important part of revitalizing our housing finance system, but they will only work well if we get the rest of housing finance reform right.
Tens of billions of dollars remain unspent and hundreds of thousands of homeowners have been rejected in the Obama administration's foreclosure prevention effort. Now the existence of the main program, the Home Assistance Modification Program, is in doubt. The New York Times reports.
The five biggest US mortgage servicers were told this week at a private meeting with regulators to consider paying delinquent borrowers up to $21,000 each as part of a broader settlement of the foreclosure crisis. The Financial Times reports.
The sales pace of newly built homes is now at the lowest on record. Sales dropped nearly 17 percent in February after a big drop in January. Put that on top of the nearly 10 percent February drop in existing home sales reported earlier this week and the incredibly low level of mortgage purchase applications, and you get a clear case for a double dip in housing.
In what may be the best anti-bank rant yet, North Carolina realtor Leigh Brown goes off on Bank of America.
The CNBC All-America Economic Survey finds deep pessimism about future economic growth enveloping Americans as they hunker down from the effects of higher gas and food prices and fear that those prices could remain elevated for years.
If history repeats itself, the worldwide stock market could tumble even more this Friday—a week after a Japan was devastated by an earthquake and tsunami, Yale economist Robert Shiller told CNBC Monday.