The supply of homes for sale is up to the highest level in 22 years.  The National Association of Realtors reported Wednesday sales of existing homes fell for an eighth straight month in October while more properties came on the U.S. housing market.
Sales are down 20.7% in the past year and are down 31% from the peak of 7.21 million two years ago. The inventory of unsold homes rose by 1.9% to 4.45 million, representing a 10.8-month supply, the highest in at least eight years.
For single-family homes alone, the …

La-Z-Boy posted a loss of $9.9 million compared with a profit of $2 million in the year ago period. A weak housing market and a slowing economy is to blame.
Consumers aren’t buying big-ticket items like furniture since they can’t use their house like an ATM machine anymore.  Add to that higher gas prices and mounting credit worries.
Read the full story
Commercial Real Estate Investing Continues To Boom
While the housing market is getting kicked in the shorts, the commercial real estate market throughout the country is doing quite well.  Orange County, CA, is …

U.S. residential foreclosure filings nearly doubled last quarter from a year earlier. Foreclosure filings for July-September rose to 635,159, representing one in every 196 households and a 30 percent jump from the second quarter, according to RealtyTrac.
In 45 out of 50 states the level of foreclosures rose in the quarter, with Nevada, California and Florida, leading the pack.  Little relief is expected as rising payments on some $650 billion in adjustable-rate loans from the current quarter through the end of 2008 will continue to adversely affect homeowners.
Mortgage companies and servicers …