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March 15, 2010
The National Association of Home Builders' measure of builder confidence in the new home market took an unexpected turn downward in March as unsettled winter weather and fear of more foreclosed properties hitting the market more than offset optimism for the spring selling season. The NAHB/Wells Fargo Housing Market Index (HMI) dropped back to 15 from 17 in February. Analysts were expecting the index to remain at 17.
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PHOENIX - The five states hardest hit by the foreclosure crisis have been given only weeks to plan how to spend $1.5 billion in federal funding announced by the Obama administration last month.Guidelines issued under the U.S. Treasury Department's Fund for Hardest Hit Housing Markets on March 5 gave housing finance agencies in California, Arizona, Florida, Nevada and Michigan just six weeks to come up with plans on how to spend their share of the money.The guidelines give wide leeway to the state Housing Finance Agencies charged with doling out the money to design programs tailored to their region's circumstance.
March 15, 2010
Mar. 12--Pulte Homes and McBride & Son, the big guns in St. Louis-area home building, are bulking up on new developments as the economy slowly recovers. "What looks different this year, certainly, is that the traffic coming into our communities is substantial," said Mike VanPamel, St. Louis division president for Michigan-based Pulte. McBride, the local builder that has long led the St. Louis market, said it ended the first month of the year with 189 home sales, a January record.
March 12, 2010
Some housing experts are saying the rate of foreclosures in the U.S. housing market may rise again, and the profile of delinquent borrowers is changing."Just looking at the numbers, we would expect there to be a bigger percentage of properties," headed for repossession, RealtyTrac spokesman Daren Blomquist told The Washington Post.A recent RealtyTrac survey found the rate of foreclosures dropped in February, but homeowners continue to fall behind on their payments.
March 12, 2010
WASHINGTON _ Long-awaited Senate legislation that would direct the broadest overhaul of financial regulation since the Great Depression will be introduced on Monday without any Republican support, despite weeks of bipartisan negotiations.Sen. Christopher Dodd, D-Conn., the chairman of the Senate Banking Committee, decided that it's time to introduce the bill and work out its final details as the complex legislation makes its way through the Senate.Sen. Bob Corker of Tennessee, the Republican who negotiated with Dodd for weeks, said it's "very disappointing" that Dodd decided to proceed before getting a final agreement, which he said had been close.
March 11, 2010
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