Murphy Back in the Fifth Nov 7, 2008
"What got us into this mess to begin with was that people were buying homes that they couldn't afford," Mr. Cappiello said. Officials of Mr. Bush's administration have said that immediate action was required to avoid the worst economic collapse since the stock market crash of 1929. (Litchfield County Times, CT)
APEC: NS not 'immune' to global economic woes Nov 4, 2008
APEC predicts hard times for other sectors of the Nova Scotia economy; a slowdown in consumer spending, a sluggish housing market with fewer people buying homes and developers delaying projects. Also exporters will struggle with declining global demand for products, despite the lower Canadian dollar. (TheChronicleHerald.ca)
Kauai luxury complex begins with $100M resort core Oct 31, 2008
A number of Kauai residents also are buying homes, Holtzman said. As Kukuiula completes new bypass access roads and other enhanced infrastructure and the project goes vertical, the Koloa-Poipu area shows early signs of transformation. (Pacific Business News, HI)
"Crisis of Confidence" -- Good News for Qualified Buyers? Oct 31, 2008
He points out that the fourth quarter is traditionally a slow time for buying homes but it can be a good time for serious buyers to get a head start. Shuman says getting pre-approved is critical even if you have done it in the past. (RealtyTimes)
Colonial BancGroup mum on participation in federal bailout Oct 31, 2008
CEO (Bobby) Lowder hit the nail on the head suggesting that a solution from Washington that gets would-be homebuyers buying homes would help (Colonial) the most. At the end of July, Colonial created a War Room in Tampa, Fla. (Birmingham Business Journal, AL)
Real estate near bottom? Oct 29, 2008
The study argues against the government buying homes and directly intervening in housing markets nationwide. "A top priority must be efforts to limit displacement and community disruption by keeping current owners in their homes, either as owners with more affordable mortgages that reflect lower post-deflation prices or as renters," the study says. (Modesto Bee, CA)
Benchmark lures Centex lenders; on pace with 07 Oct 24, 2008
The only cure for falling home prices is for consumers to begin buying homes again in significant numbers, he said. When people decide they re going to buy houses, they re going to help our economy, he said. (Dallas Business Journal, TX)
Column: Wealth: The one thing that defies gravity Oct 24, 2008
Buying homes we couldn t afford and either flipping them for bigger homes we could afford even less or refinancing them with speculative mortgages that simply took as an article of faith home prices would rise forever. Trickle-down economic theory sounds good. (Saugus Advertiser, MA)
Foundations Bank parent buys Amerihome Oct 24, 2008
Even in the current economy, people are buying homes and need traditional mortgage products, Kolton said. Amerihome is a top-quality company known for experienced people who provide safe and sound mortgage financing products. (Milwaukee Business Journal, WI)
Baby Boomers Face Need to Save, Not Spend Oct 23, 2008
4 million strong, will finish college and start buying homes. Many boomers, who lost about $2 trillion of wealth in the recent economic meltdown, plus billions in home equity in the housing downturn, are facing life without much of a financial cushion. (Realtor Magazine Online)
HUD says lenders working to aid homeowners Oct 21, 2008
A: Bringing in local not-for-profits that have a speciality in buying homes and turning them into affordable housing. Some smaller recipients talked about partnering with two or three local communities in the area to pool administrative resources, to maximize the amount of money they put to work. (San Francisco Chronicle -- Business)
Washington Report: FHA Still Going Strong Oct 20, 2008
The second area is buying homes directly at the auction. The third and final group is to buy after the auction is over, from the bank or an auction company. (RealtyTimes)
The little growth engines that could Oct 17, 2008
"They're coming to this part of the world and they're really laying down roots. They're buying homes and having babies.". In Barrie, Ont. (Globe and Mail)
NAR economist speaks at Crye-Leike conference, gives mixed outlook Oct 17, 2008
I see tighter credit availability and buyer psychology as the two key ingredients holding people back from buying homes today, he said, according to a transcript. I believe the confidence of buyers has been shaken by the current crisis on Wall Street and the ongoing housing slowdown. (Memphis Business Journal, TN)
Cautious house hunters delay purchases in faltering economy Oct 16, 2008
Of course, despite the economic turmoil and stock market gyrations, many people are still buying homes. Marion DeSantis of in Niskayuna said she sold three listings within the past couple of weeks, two of which had been on the market for only a month. (Albany Business Review, NY)
McCain's optimism bucks pundits, polls Oct 15, 2008
Lenders tricked people into buying homes they couldn't afford and some folks knew they couldn't afford them and they bought them anyway. We've lived through an era of easy money, in which we were allowed and even encouraged to spend without limits to borrow instead of save. (Globe and Mail)
Seems like old times Oct 14, 2008
A Bankruptcy of Expertise All those experts who goaded us into buying homes we could not afford, who said that housing prices could only go up and up and up. they dont look so smart now, do they. (Townhall.com)
Is the era of easy credit over for the long haul? Oct 13, 2008
After years of buying homes with interest-only loans, or loans that allowed people to borrow more than the value of the home, substantial payments and downpayments will be required. Interest rates are also likely to rise. (Anchorage Daily News)
Easy Money Causes Bubble; Easy Money Cures Bust: Caroline Baum Oct 10, 2008
People with no income, no assets and no viable job were buying homes. In short order, a house went from a stable residence to something to for a quick profit. (Bloomberg -- Columnists)
Why Obama Cant Close the Deal Oct 10, 2008
He explained the key to saving the economy is to get people buying homes again ... The key to restoring the value of the underlying mortgage paper is to first stabilize home prices, then get folks buying homes. (Newsmax)
How Consumers Can Get Loans Oct 8, 2008
If you don't have 680 or above you'll now pay more in closing costs, and investors buying homes need larger down payments. All changes that have been taking place in the last year. (WKRC.com, OH)
Coldwell Banker to publicize special 10-day price reduction to kick-start home sales Oct 7, 2008
Coldwell Banker is trying to get more people interested in buying homes at a time when interest rates are still affordable but many consumers are holding back due to the volatility on the stock market, higher utility and food prices and other concerns about the economy. Locally, home sales in the Albany, N.Y., region were down 18 percent through the end of August compared to a year ago. (Albany Business Review, NY)
Letters for Monday, October 6, 2008 Oct 7, 2008
However, I am dismayed that missing from President Bush s speeches and missing from the statements of members of Congress is any meaningful discussion of the total lack of common sense employed by citizens buying homes and cars. Personal finance should begin with realistic ideas of what a person can and cannot afford based on their income. (Missoulian, MT)
Both parties to blame for economic mess Oct 4, 2008
Too many excuses for people now a days and so now we are bickering whether it was democrats or republicans, I am betting both were buying homes they could not afford. And before anybody asks we have lived in the same house for 19 years and yes, we can afford the payments. (Waterloo-Cedar Falls Courier)
Neo-Nazis seek permit for march in Jefferson City (1427) Oct 3, 2008
nospinzone wrote on Sep 30, 2008 8:18 PM:" Greenspan will tell you Reagonomics had more to do with this market of buying homes with no down payments it really got humming between 80-86 not 76-80 more infamously known as voodoo economics : 4 pillars were reduce govt spending reuce tax rates reuce govt regulation of economy hence the housing market gettibgout of control , control money supply to reduce inflation and opened the market to economic forces. You will love this Byron , Obama says he... (Jefferson City News Tribune, MO)
Mortgage reforms on the horizon Sep 25, 2008
Major changes are in store for people buying homes who can't make a down payment of 20 per cent or more. Their mortgages must be insured by the lender and the premium is often added to the borrower's debt. (Toronto Star)
Buffett Buffet: The Vulture Has Landed Sep 25, 2008
Taking Stock (Blog) at SmartMoney. Thursday September 25, 2008 10:29 AM ET. (SmartMoney)
* World Business Quick Take Sep 24, 2008
Interest in buying homes in Chinese cities dropped to the lowest level in almost a decade, reflecting concerns over personal incomes, state media reported yesterday. Only 13. (Taipei Times, Taiwan -- World)
Why I left Wall Street Sep 23, 2008
"If we go back to where a % down on the purchase of a house purchase was a must, we would have people buying homes that they could really afford. ". Brian wrote on Sep 23, 2008 8:09 AM:" Sam, Ok, let's start over. In regards to the Wall St bailout: It seems to me if it's good for the goose then the banks should allow for more principal writedowns on homoeowners that are upside down on their homes.Homeownership is always better for the economy than a bunch of people renting.Here's a link to... (Lodi News Sentinel, CA)
Flooding of Sacandaga Valley Sep 22, 2008
In the 1920s, the district began buying homes and businesses. Owners had no choice under eminent domain. (Suite101.com)
FHA loans gain popularity after subprime fiasco Sep 20, 2008
But people with little money for a down payment and even blemished credit are still buying homes. KIMBERLY WHITE/Bloomberg. (Atlanta Journal-Constitution -- Business)
Bay Harbor group: Services received don't match taxes paid Sep 19, 2008
justmy2cents wrote on Sep 19, 2008 10:29 AM:" I have gone to public events in Bay Harbor and have seen Petoskey City Police and Allied EMS Crews present. Does Petoskey City tax dollars pay for these services? I do not have a park right outside my doorstep that Petoskey City maintains but that does not mean that I do not drive to enjoy the many parks that Petoskey City does have, that are all kept up to very high standards. I also wonder if the residents of Bay Harbor ever come into the downtown... (Gaylord Herald Times, MI)
Turmoil may prompt Fed rate cut Sep 16, 2008
7% in the June quarter as consumers spurned higher petrol and food prices, and borrowers held off buying homes. As for how far the cash rate will fall, the market is pricing in a rate of 5. (Sydney Morning Herald -- Business)
Culver lays out flood relief spending Sep 13, 2008
60 million for housing assistance, including buying homes that were destroyed by flooding and tornadoes, money for repairing damaged property, assisting with mortgage payments and developing new affordable housing. The recovery plan will set reasonable limits for the amount of assistance individual households could get. (Charles City Press, IO)
Shiller: No V-Shaped Recovery For Housing Sep 12, 2008
"(Given current data) it is certainly too soon to break out the housing bottom party shoes and start buying homes again just yet.". Moreover, Shiller points out that if today's home prices recover sufficiently at a nominal level, on a real basis they may still be dropping for a long time to come. (Newsmax)
China says inflation at 4.9 percent in August Sep 11, 2008
The evidence included slowing car sales, falling revenues at major electronics retailers and weakening enthusiasm for buying homes, he said. The fact that growth in the producer price index (PPI) hit 10. (Business Report, South Africa)
Fed takeover may not change home prices much Sep 10, 2008
"This is a prices being too high and people buying homes they couldn't afford issue.". California price declines will only stop once home values are properly aligned with income levels, or about 50 percent below the peak, he said. (San Francisco Chronicle)
Company regrouping, looking to grow business Sep 9, 2008
People in southeast Wisconsin still are buying homes in what Dan Breitzman calls his strike zone an average price of $225,000 but that doesn t mean Breitzman takes them for granted. Breitzman runs , a Brookfield-based mortgage banking firm that has navigated 20 years in a highly cyclical industry. (Milwaukee Business Journal, WI)
> Croatia-inspired project under way Sep 5, 2008
Schell and Blackard are both buying homes in Adriatica. Croatian dignitaries, including deputy Ambassador Marjan Gubic, were in town July 7 to tour the Adriatica site. (Dallas Business Journal, TX)
In New Orleans, Business Faces Headwinds Sep 3, 2008
Some, like Shell, made huge reinvestments in the community, even buying homes for employees in nearby towns as a way of luring them back to work in the area. Others, especially small businesses, went under and never returned. (Forbes)
U.K. Local Authorities Will Get Cash From Brown to Prop Up Housing Market Aug 30, 2008
If the Treasury diverted the entire budget for social housing toward buying homes, it would pay for about 376,000 properties based on the average price of 178,364 pounds recorded by the Land Registry in July. About 1. (Bloomberg -- UK)
Realtors peddle real estate to bike-happy clients Aug 29, 2008
Behind a niche market that repsents only a sliver of natinal sales is a bigger trend a fundamental shift in the way people think about buying homes. Real estate agents and industry surveys indicate that home buyers are placing more importance on cutting their gas bills and commute times and that homes near urban centers, and subway, train and bus stops are selling faster than those in the distant suburbs. (International Herald Tribune -- Sports)
Immigration debate grips Minn. city Aug 28, 2008
Some Hispanics are buying homes. Like other Midwest cities that until recently had few minorities, Austin is struggling to adapt to big changes. (USA Today)
DE Shaw doubles down on foam with proposed Foamex-Sleep Innovations merger Aug 27, 2008
Nevertheless, Foamexs top line could continue to erode unless consumers start buying homes and big-ticket items, like mattresses, again. The common stock trades around USD 0. (FT.com -- Markets)
Buyers' return key to US rebound Aug 25, 2008
If banks tighten lending standards further, denying loans to borrowers with good credit histories, affordability won't be enough to keep people buying homes. And a sharper housing bust would leave deep scars in consumer sentiment, which would likely lead to a deep recession. (India Times)
Shady House Deal Plagues Obama Aug 22, 2008
Trying to paint McCain as an elitist because he (or his wife) has invested wisely in America by buying homes and property is just plain stupid. Obama has friends, like Oprah, Hollywood celebrities and fellow Senators/Congress people, who also own multiple homes. (Townhall.com)
In the real estate buzzsaw Aug 21, 2008
Gator wrote on Aug 20, 2008 8:25 PM:" Cogito = I think!! Green, the color of mold and money.. I prefer the environmentally sound technology, there is less phony hype thanThat of the ALGORE greens. L E Ds are about to replace standardhousehold lighting, Battery technology is a wide open field. windpower is huge. Synthetic fuel is an other. These type of investmentsare worth a look. 200mpg carburetors are not!! Now that John Qpublic has the Idea this tech is here to stay it will continue to grow... (Lodi News Sentinel, CA)
The new housing credit sounds good, but it's really a loan, so make sure you need it Aug 20, 2008
Um, excuse me, isn't that what helped get us into this housing crisis - people buying homes they weren't ready for. But let's get back to Kiser. (Boston Globe)
SoCal home sales surge amid foreclosures Aug 19, 2008
"The bottoming-out comes when people start buying homes, normal homes," he said. "We're all looking for good news and some kind of bottom, but I just don't see it."July sales were briskest in less expensive, inland areas, especially involving homes built in the last seven or eight years, Karevoll said. (Fresno Bee -- Business)
Take a closer look at first-time homebuyer tax credit Aug 17, 2008
Sandy Dunn, president of the builders' association, said that as millions of first-time buyers enter the market and claim the credit, it will "stimulate buying up the housing ladder."Um, excuse me, isn't that what helped get us into this housing crisis -- people buying homes they weren't ready for. Many borrowers won't focus on the fact that this credit is really a long-term loan. (Fresno Bee -- Business)
Generation Y Uses Internet to Buy First Home Aug 16, 2008
Stay on top of breaking news. Sign up for ABC 7 News e-mail alerts. (ABC 7 News, DC)
Foreclosure's hidden victims Aug 16, 2008
Since investors buying homes often say, in financial documents, that they will live in the homes, , when in fact they plan to rent the properties, it can be hard for the city, new owners or PGnow which homes actually are occupied by tenants. And the neighborhoods hardest hit by foreclosures are also areas with large immigrant populations, where language barriers and issues of legal status form yet another impediment. (San Francisco Chronicle)
Disparity in Road Home distribution raises questions Aug 15, 2008
If you search the assessor's office for the properties owned by Road Home Corp you'll see what they are buying homes for across the board. In St. Bernard Parish, just looking at the figures they report each Sat. (Yahoo News -- Tropical Storms and Hurricanes)
The Color of Money: Think carefully about homeowner tax credit Aug 15, 2008
Um, excuse me, isn t that what helped get us into this housing crisis -- people buying homes they weren t ready for. Many borrowers won t focus on the fact that this credit is really a long-term loan. (Green Valley News & Sun, AZ)
When Hiring an Advisor Makes Financial Sense Aug 13, 2008
"Most of the industry is biased toward saying everyone needs an advisor, but it's absolutely not the case. Typically, younger people don't need an advisor" because they're still paying off debts, buying homes and changing jobs, Jones says. As you shift from accumulating assets (20s-30s) to devising a strategy for drawing on them for retirement (40s-50s), an advisor is more important. (SmartMoney)
Open The Doors And Buyers Shall Come—But Prepare First! Aug 11, 2008
There s also a big demographic growing for single women buying homes. They bought 20 percent of the homes last year and that s a growing trend. (RealtyTimes)
Wildest of Rumors Aug 9, 2008
Mayor Dick Stratman said the rumor the city is considering buying homes to extend Camp Street is "a figment of someone's imagination.". The rumor undoubtedly is the result of the failed attempt by the city to build a Camp Street bridge over Busch Creek. (Missourian Publishing, MO)
More Unmarried Couples Buying Homes Aug 9, 2008
REALTOR Magazine Online: The real estate professional's business support tool. YOUR INTERACTIVE MAGAZINE REALTOR.ORG/realtormag. (Realtor Magazine Online)
City Says No Plan to Extend Camp Street to Fifth Street Aug 6, 2008
"I'm told that the city is expressing an interest in buying homes to extend Camp to Fifth," Rhodes said during the citizens discussion portion of the meeting. "Are we, and if we are, why?" Rhodes asked. (Missourian Publishing, MO)
Danger lurks from aging of America Aug 5, 2008
SH71 wrote on Aug 4, 2008 11:14 AM:" Another thought about why social security is possibly going bankrupt, aside from the fact that our government continually "borrows" from it to keep the deficit down, is the number of babies aborted in this country every year. I know this statement will make alot of people angry, but think about it. We do have a growing elderly population who are living longer. We have fewer children in our schools (notice closings anywhere?) We have less qualified workers for... (Waterloo-Cedar Falls Courier)
Impact of housing law uncertain for Fannie Mae, Freddie Mac Aug 2, 2008
If no one is buying homes, then they can raise all the money in the world and it won t do anything to increase liquidity in the housing market. The Treasury s backing of Fannie and Freddie is temporary, but the new regulator is here to stay. (Washington Business Journal, DC)
Powell Home gets new home Aug 1, 2008
"People are still buying homes and people are renovating their existing homes. They need things and we're here for them.". Powell Home is the product of the Powell Furniture store that operated in Newport News for decades before closing in 1995. (Suffolk News Herald, VA)
More Biz in Tough Market: The Secret to Success? Jul 31, 2008
But despite all of that someone, somewhere is still buying homes. And they have Realtors helping them facilitate that process. (RealtyTimes)
Crozer-Keystone, Widener team up to give Chester lift Jul 31, 2008
Crozer-Keystone Health System and Widener University are rolling out a "Walk to Work" program this month that provides an attractive chunk of change to employees buying homes in Chester and Upland. "This means these employees will be both living and working in Chester, and have an even greater stake in the future of the city," said Widener spokesman Dan Hanson. (The Delaware County Times, PA)
Find the silver lining Jul 28, 2008
Michael McNamara, general manager of Australian Property Monitors, says: "A high gross rental yield attracts investors and also pushes renters into buying homes.". Only neither has budged. (Sydney Morning Herald -- Business)
