real estate and housing news

It appears the mortgage crisis is far from over. Countrywide is cutting jobs up to 12,000. The mortgage industry fluff that has been created during the housing boom is being depressed right now.



What does this mean to the homeowners?

The U.S. housing industry is in for a much deeper downturn, the National Association of Realtors said Tuesday as it slashed its forecasts for home sales and construction for this year and next.

Check out the growing housing markets overseas.

Builders start to put homes with smaller floor plan on the market. Is it because the higher price or tougher financing? Or just simply because people are more realistic with their living space now?

The homebuilders have been cutting prices and offering incentives late in the summer. Have the effort helped move the sales? This winter may be a tough season for the home builders. For buyers on the sideline? Keep your eyes open and good deals may be around soon.

Alan Greenspan on CBS 60 minutes. He talked about his view on economy and briefly brushed his view on housing market.

The housing price view from Mr. Greenspan, the former Federal Reserve chairman.

Investors who are unable to sell their properties in this housing slump turn themselves into landlords. There would be problems in maintaining the integrity of a nice neighborhood that has too many renters because renters usually don't take care of their leased properties as much as a real homeowners would.

Housing market recovery, the road ahead.

The housing market is going into a deeper chill, and consumers are starting to shiver.

Housing market analysis by region. It is not a complete thesis but somewhat useful. Check if your town is in it.

During the housing slump, there are some places that are less affected or will recover earlier. This article lists 10 cities that are more likely to rebound. Your thoughts?

In some markets, builders have started to slash prices up to 6 digit to clear up the inventory. What about the owners who purchased during the boom? It's definitely not a good feeling when seeing the new homes with the same floor plan are 50k or 60 lower than yours.

The National Association of Home Builders' housing index tracks developers' expectations of future home sales, and it fell to the lowest level since the index began in Jan. 1985.

Wall Street sank for a second straight session Tuesday after Federal Reserve Chairman Ben Bernanke said the slumping housing market remains a “significant drag??? on the economy.

Construction of new homes has fallen in September and hit the 14 year low. The housing downturn will is likely to persist longer.

The gloomy prediction was brought by Mortgage Bankers Association. The slowdown in housing has become a primary cause in the slowing of the national economy and it is not clear that whether we have seen the full impact of the credit shock.

Economists offer dour outlook for housing prices and construction, citing continuing credit crisis - weakness is likely to persist into 2009.

Even with a boost from holiday spending, the U.S. economy looks shaky, thanks to slumping housing prices, Wall Street woes and debt-laden consumers. How bad could it get?

The hoped-for saviors of the U.S. housing market could use some first aid themselves.

A trade group for real-estate agents on Monday said the battered housing market is on the verge of stabilizing and inched-up its outlook for 2007 and 2008 home sales. Not everyone agrees though.

How much will the home price fall to become affordable?

December reading of U.S. builders' sentiment comes in at record low for third straight month.

S&P/Case-Shiller index of 10 major cities fell 6.7% in October. Housing markets remain 'grim.'

New home sales plunged to the lowest level in 12 years. The weak housing has raised the odds of having a recession. One thing for sure is that housing problem will persist well into 2008, or maybe even longer.

The sales in the current housing market is poor and every buyer is expecting a discount when negotiating with the sellers. How much should we expect? When do we know we are going to far? See some tips in this article.

Owners beware:

"The FBI expects more foreclosure scams as criminals prey on growing numbers of people desperate to keep their homes while interest rates balloon on adjustable rate mortgages."

The median price for a single-family home dropped 1.8 percent to $217,000. Sales of single-family homes plunged by the largest amount in 25 years.

Prices have fallen, but not by enough to make it possible for nurses, fireman or teachers to buy homes of their own says a new report.

Smart moves to get a good deal in the housing market.

$4 billion housing bill is too expensive for the administration and would 'slow the recovery of the housing sector.'

With home prices falling and families losing their homes to foreclosure, some people who under other circumstances would be looking to buy their first home now see greater security in renting.

A bad housing market means opportunities to home buyers. What should you prepare on the sideline while watching the home prices drop? Are foreclosures really that attractive?

Lennar, nation's No. 3 builder by revenue, sees volume, value of sales plunge, forcing fourth straight quarterly loss.

Price declines in California real estate markets.

No area is immune to the housing crisis.

You'd better do some smart thinking before starting your home renovation. Some renovations will not pay off.