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
I'm working the Bank of America home building conference in New York today, moderating the lunch panel and sitting in on presentations by the major builders.
Several new products on the market aim to replace interest payments (and high reverse mortgage costs) with an unknown share of future profits.
Frankly I don’t care if either of these guys got a better rate than I did. Do we really believe that members of Congress don’t get perks?? I do care that everyone else seems to care.
With inventories of new homes at a record high, really nobody should be putting a shovel in the ground unless it’s already pre-ordered and pre-bought. I know that’s not exactly what a big public home builder wants to hear. They build homes for a living, I get that.
U.S. housing starts slid 3.3 percent in May to their lowest level in more than 17 years, while permits for future construction also fell, signaling more weakness ahead for the battered U.S. housing sector.
For many many months now I’ve been suggesting (that’s a nice word for it) that in addition to plenty of predatory lending during the housing boom, a lot of folks just plain didn’t take the time to read their paperwork or even ask when exactly their adjustable rate loans would adjust.
A few weeks ago the folks heading up the mortgage industry’s “Hope Now” initiative, which aims at getting lenders and servicers to refi, modify, or set up repayment plans for borrowers, came over to tell me how wonderful they were doing, and how their numbers were improving.
So there’s a bit of a blurb in the Wall Street Journal today about billionaire hedge-fund manager Edward Lampert and his ESL Investments Inc. buying into a few home builders (Centex and KB Home) as well as a few mortgage lenders (PHH and CIT) and Home Depot just to boot.
Here is a building, completed in 1930 and built to house the headquarters of the once-great American auto manufacturer, being sold to the folks who are holding a death-grip on America’s wallets.
The Abu Dhabi Investment Council is negotiating to buy a 75 percent stake in New York City's landmark Chrysler Building for $800 million, the New York Post reported on Wednesday.
Yes, it's good news that people appear to be buying homes again, but even the NAR admits they're buying homes in the areas where prices have fallen the most. More houses are becoming affordable, but prices are still in a downward spiral.
Back in 2006 the Pending Home Sales Index tracked closely with the real Existing Home Sales numbers, showing that contracts signed did in fact jibe with real closed sales. But come summer of last year (and the start of the credit crisis), you can see those lines diverge, and they’re still going.
More than a year into a U.S. housing market meltdown, prosecutors have yet to bring major cases against mortgage industry leaders — and the slump's worst may pass before any charges are filed.
U.S. home foreclosures and the rate of homes entering the foreclosure process rose to record highs in the first quarter with increases across many loan classes, the Mortgage Bankers Association said on Thursday.
Pending sales of previously owned U.S. homes unexpectedly rose in April as foreclosed properties flooded the market and drove prices sharply lower.
It seems like over the past few months, the media just can’t get enough of showing swanky celeb estates in foreclosure. "Look! They're in trouble just like everybody else!" They are not everybody else.
The net wealth of U.S. households fell 2.9 percent in first three months of 2008 as home values eroded further and share holdings fell sharply, marking the second quarterly drop in a row, the Federal Reserve said Thursday.
I'm sitting outside an abandoned foreclosure in Manassas,VA today, and honestly I don't know what to make of this neighborhood. There are for sale and foreclosure signs literally on every block.
I know everyone is gasping today over news that Ed McMahon is over a half a million dollars behind on his mortgage, but he's really not all that different from these callers, give or take a few million dollars in income.
U.S. home builders, struggling under sinking demand and a credit crisis, now face a fresh obstacle: competition from a flood of homes in foreclosure.
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.