Archive for October, 2007

Homes prices may be down, but rental prices are up and landlords are happy about that.Rental prices are rising in the vast majority of markets in the United States, putting a financial strain of the nearly one-third of Americans who rent rather than own their homes. There are two main drivers behind higher rents. One...
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As the housing slump worsens in many parts of the country, Realtors don’t have qualified buyers to work with and seller’s homes are not selling or staying on the market for longer time periods, thus making it very difficult to earn a living anymore. Real estate agents across the country are leaving the business as...
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Q3 profits for Washington Mutual Inc., the largest U.S. savings and loan, plummeted 72%, hurt by mounting mortgage losses, largely due to the housing slump. Housing difficulties helped push profit down 18% at its retail banking unit and cause a $348-million loss in its home loans unit, compared with a $23-million loss a year earlier....
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The chief economist for the Mortgage Bankers Association, Doug Duncan, expects national median home prices to fall between 2 percent and 4 percent both this year and next. The states to be hardest hit include California, Texas, Arizona, Nevada, Ohio, Michigan and Illinois. Read the full story Real Estate Investors – Proceed with Caution Caution should be exercised...
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D.R. Horton Inc., the second-largest U.S. homebuilder, said orders in the fiscal fourth quarter plunged to the lowest in almost six years as customers backed out of purchases and banks restricted lending. The number of homes sold is down 39 percent than a year earlier. Customers canceled 48 percent of homes they reserved, up from...
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