Money Matters - Simplified

housing sector

US new homes register fastest rate of sales in 5 years

In what may be construed as a sign of recovery in the US housing sector, last month new buyers lapped up the single-family homes at the fastest pace in five years.

US consumer credit rose in May -- report

Led by a spurt in credit card use and student loans, consumer borrowing in the United States rose by $5.08 billion in May. Consumer credit had risen by $5.67 billion in April.

Still Too Early to Cheer Housing Starts

 We recently learned that housing starts "beat" expectations in November, rising 3.9% over the previous month. I am not a housing expert, but I thought increasing supply in an already oversaturated market with depressed demand is a bad thing. However, a recent Bloomberg article discusses why more homebuilding is a positive for the economy as it would add a significant amount of jobs to the economy. While this may be true, I believe improvement would be offset by a continuing decline in home prices.

Economy Still Tottery: Is it Presaging Another Recession?

If you're rejoicing that the worst of the economic crisis is over, hold on! Though Fed is giving the impression that nation's economy is resuming growth, all is not as rosy as it seems.

Existing home sales fall 2.2% in May

The negative impact of the withdrawal of the federal tax credit, which was offered to boost the sagging housing market, is showing too sooner than expected.

California's economic problems to linger throughout 2010--report

Despite the nation's economy recovering from recession, California will remain mired in economic woes throughout this fiscal year, according to the quarterly report by UCLA Anderson Forecast.

US to witness growth--economists

According to a survey conducted by National Association for Business Economics (NABE), the U.S. economy is expected to expand in current year and next year, along with, increase in consumer spending.

Home sales decline to 7-month low--report

Dashing hopes that the housing sector is rebounding, a report released Friday shows that the sale of previously-owned homes slipped in January, stumbling for the second month consecutively.

Business Assistance Act of 2009: Builders Get Treated, Tax Payers Pick up the Tab

The new bill makes provision for builders suffering losses in 2008 and 2009 to claim refunds from the tax paid in the previous five years.

Home prices up, consumer confidence still down

Washington, October 28 -- The gains in U.S. home prices in recent months have failed to buoy the confidence amongt consumers.