Skip navigation

Realty Check

 

  Current Housing Indicators
CURRENTPREVIOUS
Existing Home Sales4.49m4.74m
New Home Sales309,000344,000
Housing Starts583,000477,000
Building Permits547,000531,000
HMI9UNCH9
Existing Home Prices$170,300▼ (annually)$199,800
New Home Prices$201,100▼ (annually)$232,400
 
Realty Check Video Gallery
CNBC's Diana Olick takes a look at the top issues for builders, which include financing for future developments.
CNBC's Jim Cramer shares six stocks to watch, and reveals them in under 60 seconds.
 
HOMEBUILDERS TOP 10 INDEX
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...
Loading...

#DIANAOLICK ON TWITTER


Current DateTime: 09:02:12 10 Feb 2012
LinksList Documentid: 23279692
Expiration DateTime: 2/10/2012 9:03:52 AM

Current DateTime: 09:02:12 10 Feb 2012
LinksList Documentid: 35933407
  • The 10 Emptiest US Cities

      It’s no secret that the U.S. housing market has seen better days. So, what are the emptiest major U.S. cities?

  • Most Expensive States

      Your dollar won't get as far in these ten states. Which states are the most expensive to live in?

  • Inspired Homes

      From the Simpsons TV show, to the White House to Snow White, here are homes inspired by others.

MOST SHARED


Current DateTime: 09:02:12 10 Feb 2012
LinksList Documentid: 31330905
Expiration DateTime: 2/10/2012 9:03:45 AM

Current DateTime: 09:02:12 10 Feb 2012
LinksList Documentid: 23452000
Expiration DateTime: 2/10/2012 9:03:40 AM

Current DateTime: 09:02:12 10 Feb 2012
LinksList Documentid: 23452764
Expiration DateTime: 2/10/2012 9:03:24 AM

REALTY CHECK VIDEO

» More

Current DateTime: 09:02:13 10 Feb 2012
LinksList Documentid: 30871294
Expiration DateTime: 2/10/2012 9:03:34 AM

RSS FEED

» Help

Current DateTime: 09:02:13 10 Feb 2012
LinksList Documentid: 30871303

Countrywide: No Remorse, Just Still Living The High Life

Published: Friday, 22 Feb 2008 | 11:20 AM ET
Text Size
By: Diana Olick
CNBC Real Estate Reporter

There’s something called remorse. Maybe you’ve heard of it. Clearly Countrywide Financial [CFC  Loading...      ()   ] is not in touch with that emotion right now.

While many Americans are struggling to pay mortgages they never should have been offered or are staring down the face of foreclosure--and while many Countrywide stockholders are staring at holdings that are worth 1/5th of what they were a year ago--and while 11,400 former Countrywide employees are trolling the want-ads, Countrywide execs are going skiing.

Yep, that’s right. Next week Countrywide will “host about 30 representatives of smaller mortgage banks for three nights at the Ritz-Carlton Bachelor Gulch ski resort in Avon, CO,” according to a report in the Wall Street Journal.

The meeting, billed as the “2008 Advisory Council”, includes dinner at Spago, hotel rooms, ski rentals, lift tickets and of course cocktails. There are two four-hour business meetings, followed by skiing and dinner at “Zach’s Cabin, where diners arrive by sled.”

Clearly I’m in the wrong business. The DC bureau of CNBC is having a belated Christmas party tonight. We’re going bowling downtown. And our company made money this year! I realize that the folks at Countrywide don’t see themselves as the least bit to blame for any of the troubles in the subprime mortgage market and the greater credit markets. Maybe they shouldn’t.

Nobody HAD to buy its mortgages. But given the company’s current situation, being sold off to Bank of America [BAC  Loading...      ()   ] , and the stock price and the poor earnings and the high foreclosure rate, well maybe this year they could have held the big meeting at a Cleveland Ramada or something. They usually have great mozzarella sticks.

Questions?  Comments? 

© 2012 CNBC, Inc. All Rights Reserved


Current DateTime: 05:18:53 10 Feb 2012
LinksList Documentid: 29778428

Current DateTime: 04:14:52 10 Feb 2012
LinksList Documentid: 29779196

Current DateTime: 08:50:28 10 Feb 2012
LinksList Documentid: 29779197

Current DateTime: 04:14:52 10 Feb 2012
LinksList Documentid: 29779199
CNBCCNBC
About CNBC  |  Site Map  |  Video Reprints   |  Advertise  |  Help  |  Contact
Privacy Policy  |     |  Terms of Service  |  Independent Programming Report
  Data is a real-time snapshot  *Data is delayed at least 15 minutes
Global Business and Financial News, Stock Quotes, and Market Data and Analysis

© 2012 CNBC LLC.  All Rights Reserved.
A Division of NBCUniversal
Thomson ReutersThomson Reuters