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With anxiety over the subprime mortgage market, calls for tighter lending standards, continued high inventory of unsold homes and home prices dropping from coast to coast, to call Tuesday’s housing starts number curious is an understatement. The U.S. Department of Commerce reports housing starts in February jumped 9% from a month ago but are still 28.5% below February 2006. This is the biggest jump since January of last year and comes off a 14% drop in starts in February.
Deepening problems in the subprime mortgage sector chipped away at homebuilder confidence in March, the National Association of Home Builders said.
Here some of Wednesday's big movers on European stock markets: Kingfisher, Carrefour, J. Sainsbury, HBOS, RBS, Deutsche Bank, SEB, Skanska and Holcim.
Mort Zuckerman is not only the owner of U.S. News and World Report and the Daily News, he is also a major player in the business world as chairman of Boston Properties. He's also one of the savviest and most successful real estate magnates around. Zuckerman spoke with...
Irish building supplies firm Grafton Group posted a slightly better-than-expected 15% rise in 2006 earnings on Thursday and said it was confident about the future after a satisfactory start to 2007.
Cement maker Holcim reported a 39.2% increase in net profit for 2006 on Wednesday, saying its recent expansion in India, strong markets and efficiency gains helped boost its performance.
France's Bouygues said Wednesday its net profit rose a higher-than-expected 50% last year, thanks to strong growth from its construction and road-building divisions, and despite losses in its mobile phone operations.
There’s a lot of data out today on existing home prices across the U.S., and I want to quickly make a little sense of it for you. First we get results from the National Association of Realtors, which reports that the median existing home price in the U.S. is $210,600, down 3.1% from January of 2006.
Grupo Ferrovial said Monday its full-year net profit more than tripled, thanks to asset sales and incorporation of recently acquired companies such as British airport operator BAA.
Schindler Holding, a Swiss elevator maker fined by the EU last week for taking part in a cartel, said Monday that full-year net income rose 29% as the company boosted sales of elevators and escalators.
I’m getting frustrated with two words: “Housing Market.” For weeks now I’ve been getting the questions from my friends, the pitches from so-called housing experts and the assignments from my bosses: How is the Housing Market this Spring??
German cement maker HeidelbergCement said Wednesday that sales in 2006 grew 18% as the company benefited from growing economies.
Swedish construction company Skanska on Thursday reported a 22% fall in fourth-quarter net profit on the back of lower sales and tougher conditions on the Danish market.
A bright spot in today’s earnings report from KB Home, one of the nation’s largest home builders: prices on their homes are coming down this quarter. While the company posted some nasty earnings for the fiscal fourth quarter and is showing a 48% cancellation rate, that fact bodes well for the usually busy spring season.
Commercial property development in Britain grew at its slowest rate in 13 months in January due to the first contraction of work on public sector projects in 19 months, data showed on Monday.
This week HSBC Holdings admitted that it would be spending more money than originally anticipated to cover subprime loan defaults -- $1.76 billion more than analysts predicted. Now there’s concern over the mortgage-backed securities that go along with these riskier credit advances, and even more concern over the housing market in general.
Economists sure didn’t call the housing bubble as it inflated – and now as the air is let out, no one seems to know what’s next. What goes bubble must go burst, right? Not so fast says Yale economist Robert Shiller. He was on “Street Signs” to discuss an op-ed piece he wrote in today’s Wall Street Journal about the housing boom.
This morning on "Squawk on the Street" Mark Haines and Erin Burnett spoke to Jon Hilsenrath of The Wall Street Journal about his stocks of the week. This is part of our regular "Five for Five" segment, where we give you, the investor, a list of five stocks to keep your eye on.
Swedish engineering company Atlas Copco said Monday it agreed to buy paving equipment company Dynapac for 6.3 billion kronor (695 million euros; $902 million) from the Altor 2003 Fund.
This morning investors are trying to figure out what today’s jobs report means for the economy and interest rates. According to the U.S. Labor Department, employers added only 111,000 jobs last month, below the 150,000 that had been expected. The reports also says our nation’s unemployment rate reached 4.6%, that’s a four-month high.