The folks at HUD felt that my blog of yesterday left out some key points, namely, their side of the story, so I am happy to post a reply directly from them.
Betting on real estate these days is not for the faint of heart. Between the housing correction, economic uncertainty, the credit crisis and predicted softening in the commercial property markets, determining where to invest for future returns requires an extra dose of due diligence and, let's face it, good old-fashioned courage.
Cramer makes the call on viewers' favorite stocks.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
U.S. stocks closed lower Monday as major Dow components and financials outweighed hopes for a Fed rate cut and a government plan to rescue at-risk homeowners.
Shares of homebuilder stocks were trading higher on Tuesday after Pulte Homes reaffirmed its fourth-quarter outlook late Monday.
Stocks closed higher after another volatile session, helped by a rally among energy shares as oil soared to a record high close of $98 a barrel.
D.R. Horton, the largest U.S. home builder, Tuesday reported a quarterly loss after taking charges for the lower value of land and other housing-related inventory, a reflection of the sagging U.S. housing market.
One of my mother's favorite lines is the one about not saying anything if you can't think of something nice to say. Well that was the story of the markets Monday. What a day of angst. Look at this headline from a note sent by MF Global's Andy Brenner Monday afternoon: "The market has traded like a crazed man with no liquidity." Yikes.
Stocks fell after Fed Chairman Ben Bernanke said the housing slump is likely act as a drag on to U.S. economic growth, sparking investor concerns. "It was just last month Bernanke was saying things were contained, but now he's saying housing troubles can spread," said Brian Hicks, president of Wealth Daily. "This-flip flop in the last month has really spooked the markets."
D.R. Horton, the largest US home builder, Tuesday said orders for new homes plunged 39 percent in its fourth quarter amid a spike in cancellations, as the US housing market continued to skip along rock bottom.
The problems today: 1) Financials. For a view of why traders are now very worried about Q4 earnings for financials, look no farther than KeyCorp. Q3 earnings and Q4 guidance were both below expectations; there were strains from fixed income markets particularly in commercial real estate, and rising problems with residential construction loans.
PCP and Goodrich aren't just aerospace plays. Add them to the list of booming infrastructure names, too, Cramer said. Also, the best way to buy homebuilders - and the best homebuilder to buy.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Forgive me for posting a little bit late today, but I’ve been waiting for a call back from the press contact at D.R. Horton all morning, and now that it’s afternoon, I’ve decided to give up. I called the company (three times) to ask for a bit more information regarding an auction of 53 new D.R. Horton-built homes in San Diego this weekend.
There was more bad news for the housing sector Tuesday. Both sales and prices of existing homes continued to fall, while inventories rose.
The slump in housing stocks to new four-year lows is hurting some well-known investors who recently added home builders and housing-related stocks such as KB Home and Pulte Homes to their positions.
We reported some pretty nasty numbers from the Mortgage Bankers Association yesterday: A 51% rise in new foreclosures nationwide to the highest rate in the history of the MBA survey. And it’s a big bad number like that that is going to add more fuel to the fire in Washington among all those folks who have been bandying about the idea of some kind of government...
The two weak links in yesterday's market--housing and brokerage stocks--continued to be the weak links today. House prices declined 3.2% in Q2 from a year earlier, according to the S&P/Case-Shiller U.S. National Home Price Index. Home builders like Centex, Lennar and DR Horton down 4%-6% this morning; most builders are at multiyear lows.
From commodities and construction materials to interest rates and mortgage lenders, the state of real estate is at the forefront of most business and financial debates. But some say opportunities still exist -- if you know where to look. CNBC's crack team of reporters dug into the real estate market from every angle. Here is a sampling of what they found.