U.S. Has Most Unsold Homes Since ‘85
U.S. Has Most Unsold Homes Since ‘85
Sales of Existing Homes and Median Home Prices Fall Again as Inventory Stays High
WASHINGTON (AP) — Sales of existing homes in the U.S. fell for the eighth time in the past nine months, with the backlog of unsold single-family homes rising to the highest level in more than two […]
The Affluent, Too, Couldn’t Resist Adjustable Rates
They took out adjustable-rate mortgages at the peak of the housing bubble to buy homes they would otherwise not be able to afford. Or they refinanced existing mortgages to take cash out. And now, two or three years later, the day of reckoning is here.
These are not lower- and middle-income borrowers, but more affluent consumers […]
Jitters for First-Time Homebuyers
IF there is a bright spot in New York City’s uncertain real estate market, it is that over the last several months, some first-time buyers have found it easier to buy apartments.
With mortgage rates low and prices steady, some of these buyers are getting apartments at the most favorable prices and terms in years.
“I haven’t […]
New Data Show Rising Inflation and Slumping Home Values
Two worrisome trends for the economy — falling house prices and the rising cost of everything else — picked up speed in the latest data reported on Tuesday, putting policy makers in an increasingly tough position.
If they move too aggressively to cut interest rates and stimulate the economy, they might stoke inflation at a time […]
Rescues for Homeowners in Debt Weighed
WASHINGTON — Prodded in part by some of the nation’s biggest banks, the Bush administration and Congress are considering costly new proposals for the government to rescue hundreds of thousands of homeowners whose mortgages are higher than the value of their houses.
Not since the Depression has a larger share of Americans owed more on their […]