Real Estate News

Ten Questions on the Volatile Housing Market
Lower Prices Have Spurred Home Sales, but Looming Foreclosures and High Unemployment Are Clouding the Outlook
By James R. Hagerty
The Wall Street Journal
November 17, 2009

The U.S. housing market has been in a slump for the past four years. When will it ever end?

America's Newest Land Baron: FDIC
By Michael M. Phillips
The Wall Street Journal
November 17, 2009

In the waning days of the Great Recession, the federal government is still jumpstarting the economy and propping up financial markets.

It is also trying to sell Dresden Heights, a failed condo development on a noisy freeway ramp next to a Motel 6, a Waffle House and a Do-It-Yourself Pest Control.

HSBC Sees Improvement in U.S. Home Market
Sales of Foreclosed Properties Begin to Pick Up, but Hurdles Loom; Subprime Salvation?
By Sara Schaefer Munoz
The Wall Street Journal
November 18, 2009

When the subprime-mortgage crisis hit in the U.S., HSBC Holdings PLC’s U.S. unit foreclosed on thousands of homes, many of which it then couldn’t unload. Now, there are modest signals that the bank is having an easier time reselling those homes and recouping losses.

Fannie, Freddie Woes Hurt Apartments
By Nick Timiraos
The Wall Street Journal
November 18, 2009

The deteriorating commercial real-estate market is hitting Fannie Mae and Freddie Mac, the housing-finance giants that were taken over by the U.S. last year after billions of dollars in losses on residential real estate.

The firms, which together have taken more than $110 billion in capital infusions from the Treasury, stepped up their lending for apartment buildings as the commercial real-estate market peaked, and they are now facing rapidly rising loan losses.

Buying a Home in Time to Get Credit
By Amy Hoak
The Wall Street Journal
November 15, 2009

House hunting usually slows down this time of year, as people put their searches on hold during the holidays.

This winter could be different, however, thanks to the extension -- and expansion -- of the first-time home-buyer tax credit.

Fannie, Freddie Warn on More Losses
By Nick Timiraos
The Wall Street Journal
November 12, 2009

Fannie Mae and Freddie Mac, already reeling in red ink, are warning they could face additional losses from the weakening condition of mortgage-insurance companies.

Fears of a New Bubble as Cash Pours In
Real-Estate, Stock and Currency Markets, Especially in Asia and Pacific, Are Seen at Risk
By Alex Frangos and Bob Davis
The Wall Street Journal
November 4, 2009

Concerns are mounting that efforts by governments and central banks to stoke a recovery will create a nasty side effect: asset bubbles in real-estate, stock and currency markets, especially in Asia.

Congress Extends Jobless Benefits, Home-Buyer Credit
By Corey Boles
The Wall Street Journal
November 5, 2009

Congress approved an extension of federal jobless benefits, sending the long-delayed bill to President Barack Obama a day before the issuance of monthly unemployment data.

Mr. Obama is expected to sign into law on Friday the jobless-benefits measure, which would extend federal payments to the long-term unemployed by up to 20 weeks from the current maximum of 33 weeks in many areas of the country.

Senate Clears Homebuyer Tax Credit Extension; May Pass as Early as This Week
By Steve Cook and Brett Arends
RISMEDIA
November 5, 2009

After two weeks of delay, the Senate cleared the way to pass a seven month extension and expansion of the tax credit for homebuyers. By an 85 to 2 roll call vote, the Senate voted to cut off debate on a package of measures that includes the homebuyer credit, making it virtually certain that the legislation will reach President Obama for his signature this week.

Housing Inventory Declines
By James R. Hagerty
The Wall Street Journal
November 5, 2009

The number of homes listed for sale fell in many U.S. cities in October as buyers sought to qualify for a federal tax credit.