Bank of America recently announced they would halt foreclosures in states that require court action in order to foreclose in order to ensure that proper procedure has been followed regarding the documentation necessary to foreclose on delinquent borrowers. Since, which is a non-judicial foreclosure state, was not on the last of 23 states in which [...]
Archive of posts tagged Bloomberg News
Karl Case, Co-Founder of Case Shiller Index, Predicts Housing Has Hit Bottom
Karl Case, the co-founder of the Case-Shiller home price index, recently stated that he predicts the housing market has hit bottom in the United States and will slowly recover while the economy remains weak. Case went on to basically say that the combination of low prices, the record low interest rates and tax credit incentives offered [...]
Existing Home Sales Climb to Second Lowest on Record in August 2010
Home sales in the United States likely only grew to the second lowest on record in the US in August 2010 thanks to a weak economy and the expiration of the homebuyer tax credit. Article
Federal Housing Finance Agency Says National Home Prices Dropped by 3.3% in July of 2010 Compared to One Year Ago
Home prices in the United States reportedly dropped by 3.3% in July compared to one year ago, according to a new report released by FIFA. It’s important to note that there are many home indeces that track real estate values in the US and this is just one of them. Article from Bloomberg News
US Housing Starts Increased By Higher Than Expected Rate in August 2010
Builders nationwide reported higher than expected housing starts for the month of August 2010. Economists surveyed had predicted an annualized rate of 550,000 starts, but the annualized rate proved to be 10.5% higher than predicted, coming in at 596,000. The number of housing permits did, however, fall for the fifth consecutive month. The discrepancy between [...]
