With recent signs that housing may be slowing down a bit, Nobel Prize-winning economist Robert Shiller told CNBC on Tuesday that he'd still describe the recovery as strong.» Read More
Pending sales of previously owned U.S. homes plummeted by 4.7 percent in May, far more than expected and a sign of more trouble ahead for the beleaguered housing market, a real estate trade group report showed on Tuesday.
We started to hear rumblings last week about how residential construction loans are weighing heavily on local banks because, big surprise, some of the builders are having trouble keeping up with the payments.
So Hope Now is doing well. But in all the data and arguing over the data, let’s look at the data for a second. Of the 170,000 mortgages saved in May, 100,000 were repayment plans and 70,000 were modifications.
Many U.S. cities where home values have taken a double-digit drop have seen their sales rise by a similar measure as foreclosed homes -- usually a sign of market distress -- are sold off at a discount, paving the way for a recovery.
It's my favorite day of every quarter. Whether Central Park is turning amber or tulips are rising in the islands of Park Avenue, the quarterly Manhattan Residential Market Report is always the tastiest morsel of the season (who loves her job more than me??).
So what do you do if you’re a developer and the credit crunch is keeping your potential customers away? Well, how about giving buyers the loan yourself! That’s precisely what the developers of a posh Harlem condo building are doing.
A lawsuit filed by a Wisconsin couple against their mortgage lender could have major implications for banks should a U.S. appeals court agree that borrowers can cancel their loans en masse when their lenders violate a federal lending disclosure law.
The idea is that instead of trying to sell your home in a down market, waiting perhaps months and months and lowering the price, thereby lowering your potential buying power for the next home, you simply find someone who has something you want, and you trade.
In the midst of reporting earnings from KB Home and Lennar this week, neither of which were particularly pretty, I saw a press release for an auction in Houston that tweaked my interest. The title reads: Greater Houston Real Estate Auction: Sign of the Times.
According to the Realtors, a full one third of sales are distressed properties. Think about that. Five million home sales expected this year and of those about 1.65 million will be homes that a seller couldn’t afford to keep.
New home sales in May fell 2.5 percent, and everyone is now wondering if rising gas prices are adding fuel, so to speak, to the meltdown in housing. A big article in the New York Times today features a few families who claim it just isn't worth living in the suburbs anymore.
The real estate market remains a question mark after the Standard & Poor's/ Case Shiller home price index reported annual losses in every top metropolitan area. This, along with the 66,000 job cuts that hit the financial sector through May, brought the experts to CNBC's Squawk Box to discuss the national real estate picture.
S&P C-S looks at prices in the top ten and top twenty markets, and those indexes are down 16.3 percent and 15.3 percent respectively on an annual basis for April. The OFHEO index shows prices nationwide down 4.7 percent from a year ago.
How about a silver lining in the housing crisis? According to the Harvard Joint Center for Housing Studies’ “State of the Nation’s Housing 2008,” things are bad now, but social trends will save the day. Here's why...
I like to think I know everything about home prices, but I learned a few things from Prof. Chip Case at a conference yesterday (one of the men behind the Case-Shiller Home Price Index).
Bob Toll doesn't buy the numbers from Commerce. The CEO of Toll Bros. says there's no way new home sales are running as high as the census bean counters claim because they don't include cancellations which are still running around 30 percent.
More than 400 real estate industry players have been indicted since March—including dozens over the last two days—in a federal crackdown on mortgage fraud.
U.S. 30-year mortgage rates continued their ascent this week, reaching their highest level since September 2007, according to a survey released on Thursday by home funding company Freddie Mac.
CFO Bill Wheat says they want to sell $400 million worth of land, the bulk of it in Florida, California, Arizona and New Mexico. That would get them to a three year supply.
Still here at the BofA homebuilders conference. I met with an analyst down in the lobby from a competing investment bank. He's here meeting with reps from the builders and just did Ryland. He says they told him, "We have nothing positive to say about the housing market."
The housing market is one of the pillars of the U.S. economy and there may be no better indication of how the market is doing than housing starts.
You may have heard this term in the aftermath of the real estate bubble. So what is an underwater mortgage?
Sometimes financial terms sound exactly like what they are. CNBC explains jumbo mortgages.