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Wed, 12/15/2010 - 11:10 by Brian D. Pacampara
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
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Fri, 12/03/2010 - 01:37 by Prince damin
Fort Lauderdale, Fla. -- Almost half of home sales in South Florida in the third quarter involved properties in some stage of foreclosure, hindering the housing market, analysts say.
About 42 percent of Broward County homes sold during the July-through-September period were in default, scheduled for auction or bank-owned, the South Florida Sun Sentinel reported Thursday.
Broward was second only to Miami-Dade County with 4,688 foreclosure-related sales in the quarter, RealtyTrac Inc., an Irvine, Calif.-based listing firm. said.
Nationally, a quarter of all home sales involved a distressed property.
"Foreclosures are still a big part of the housing market because there's such a built-in discount," RealtyTrack spokesman Daren Blomquist said.
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Fri, 12/03/2010 - 01:37 by Prince damin
Fort Lauderdale, Fla. -- Almost half of home sales in South Florida in the third quarter involved properties in some stage of foreclosure, hindering the housing market, analysts say.
About 42 percent of Broward County homes sold during the July-through-September period were in default, scheduled for auction or bank-owned, the South Florida Sun Sentinel reported Thursday.
Broward was second only to Miami-Dade County with 4,688 foreclosure-related sales in the quarter, RealtyTrac Inc., an Irvine, Calif.-based listing firm. said.
Nationally, a quarter of all home sales involved a distressed property.
"Foreclosures are still a big part of the housing market because there's such a built-in discount," RealtyTrack spokesman Daren Blomquist said.
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Thu, 11/25/2010 - 06:26 by Prince damin
Washington -- Sales of new single-family homes fell 8.1 percent in October compared with September, the U.S. Commerce Department said Wednesday.
Home sales fell to 283,000 on an annual basis after reaching 308,000 in September. October's sales also came in 28.5 percent below the 396,000 posted in the same month a year ago.
The U.S. Federal Reserve, in minutes of its Nov. 3 policy meeting released Tuesday, said the housing market in August and September "remained exceptionally weak."
Despite historically low interest rates for mortgage contracts "consumer pessimism … the depressed rate of household formation and tight underwriting standards for mortgages" continued to drag on the market, the Fed said.
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Thu, 10/21/2010 - 11:37 by Morgan Housel
The first-time homebuyers credit juiced the housing market earlier this year. Its April expiration caused every housing statistic to collapse like Rome shortly thereafter. With those hangover effects now wearing off, these next few months are giving us a view of what the unfettered market looks like. |
Sat, 09/11/2010 - 22:59 by Prince damin
Washington -- The International Monetary Fund in Washington said continued foreclosures in the U.S. housing market could erode the availability of credit.
In a briefing note, the IMF said economic growth would continue to slow by the end of the year across the globe, naming the U.S. housing market as one of the pivotal risk factors, the British Broadcasting Corp. reported Saturday.
The note also names government debt as a key issue and calls for developing economies to concentrate on increasing domestic spending and relying less on exports.
In contrast, developed economies needed to trim their government debts and increase their export sales, the note said.
Copyright 2010 United Press International, Inc. (UPI).
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Tue, 08/31/2010 - 01:46 by Prince damin
Greenwich, Conn. -- Even the wealthy aren't immune from the brutal housing market if the negotiated sale price of Leona Helmsley's Greenwich, Conn., estate is any indication.
The estate -- called Dunnellen Hall -- is about to be sold for about half of the $125 million asking price after languishing on the market for about three years, sources told the New York Post. The buyer, who was not identified, apparently negotiated the price to no more than $55 million.
"The contract is currently under negotiation," one person knowledgeable about the negotiations said.
Sale proceeds will go to the Leona M. and Harry B. Helmsley Charitable Trust, which supports healthcare and medical research, among other things.
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Mon, 08/16/2010 - 23:33 by Prince damin
Washington -- Builder confidence in the U.S. housing market for new, single-family homes fell for a third straight month in August, a national trade association said Monday.
The Housing Market Index fell one point to 13, its lowest level since March 2009, the National Association of Home Builders said in a release.
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Thu, 08/12/2010 - 15:55 by Jaspreet Virk
Foreclosure crisis doesn't seem to be loosening its hold on the housing sector. After declining for the last three consecutive months, foreclosure activity is back up in the United States.
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Tue, 06/15/2010 - 22:47 by Inderjit Singh
WAashington -- Confidence in business conditions among single-family home builders fell in June, a U.S. industry group said Tuesday.
The National Association of Home Builders/Wells Fargo Housing Market Index declined five points to 17 during the month, dropping after two months of gains to a level last seen in February.
The monthly survey uses 50 as a break even point with higher numbers indicating more builders rate business conditions as "good" than "poor."
"The home buyer tax credit did its job in stoking spring sales and we expected a temporary pull back in the builders' outlook after the credit expired at the end of April," said NAHB Chairman Bob Jones in a statement.
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Thu, 06/03/2010 - 18:01 by Jaspreet Virk
Benefiting from federal tax credit and recovering housing market, pending home sales in the nation surged by 6 percent in April, according to a report released by National Association of Realtors, North America's largest trade association.
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Mon, 11/30/2009 - 17:06 by Jaspreet Virk
New York, November 30 -- The UK economy has reported its biggest drop in consumer borrowing.
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