Economy

Effort to Reclaim Streets Named After Martin Luther King Jr.

"Dr. King would be turning over in his grave." Continue Reading »

Crunching the Latest Foreclosure Numbers

"Consumer confidence is definitely up as the economic rebound gathers more steam." Continue Reading »

Upstate New York Seeing an Exodus

In recent years, Florida has been the No. 1 destination for people aged 45 and up leaving upstate New York. Continue Reading »

Total Value of U.S. Homes: $25 Trillion in 2013

The cumulative value of all homes in the U.S. at the end of 2013 is expected to be have risen nearly 8 percent since 2012. Continue Reading »

Homebuilders' Confidence Still Strong but Showing Some Cracks

"While builder confidence is holding at the highest level in nearly eight years, many are reporting some hesitancy on the part of buyers due to the sharp increase in interest rates." Continue Reading »

5 Years After the Housing Bust, Market Still on the Mend

The housing market has only been on the mend over the last year, and according to experts, it still has some healing to do. But we've come a long way. Continue Reading »

Construction Spending Rises in July, Boosted by Business and Housing

It looks like builders are still betting on a housing market recovery despite a sharp increase in mortgage rates. Continue Reading »

Calif. City Looks to Seize Loans to Ease Mortgages

As Mayor Gayle McLaughlin and the plan's backers approached the bank building, security guards locked the doors. After a bank official told her there would be no meeting then and that someone would call her later, she grabbed a bullhorn. "I am absolutely not backing down," McLaughlin said. Continue Reading »

Detroit Realtors See Bankruptcy as Potential 'Turning Point'

Observers see Detroit as having two real estate markets. While downtown seems to be coming back, on the far east side and the west side there are "no willing buyers." Continue Reading »

App Helps Homebuyers Calculate Commuting Costs

Living farther out from the city center can sometimes mean buying a bigger or newer home for less money. But when it comes to factoring in commuting costs to work -- from gas to parking fees or public transportation passes -- how much are you really saving? Calculating that answer just might be a little bit... Continue Reading »

Homebuilders' Confidence Strongest in More Than 7 Years

Readings above 50 mean more builders view market conditions as favorable than poor. Last month was the first time that the index has been above that dividing line since April 2006. Continue Reading »

U.S. Home Prices See Biggest Jump in 7 Years

Wilfredo Lee/AP By Christopher S. Rugaber WASHINGTON -- U.S. home prices jumped 12.2 percent in May from a year ago, the most in seven years. The increase suggests the housing recovery is strengthening. Real estate data provider CoreLogic said Tuesday that home prices rose from a year ago in 48 states. They... Continue Reading »

How Rising Mortgage Rates Might Cool a Hot Housing Market

It's important to note that the issue isn't necessarily that rates have gone up, but the rate at which they have done so. Continue Reading »

Mortgage Rates Drop for 1st Time in Weeks but Probably Not for Long

Mortgage rates are expected to surge as markets respond to Chairman Ben Bernanke's comments about bond purchases. Continue Reading »

May's Housing Starts Fall Short of Predictions but Hit 5-Year High

The pullback in new construction last month reflected a drop in one of housing's most volatile sectors. Continue Reading »

Home Repossessions Picked Up in May, RealtyTrac Reports

The May numbers reflect a rise in homes entering the foreclosure process in 2012, many of which became bank-owned properties. But there are still significantly fewer repossessions than a year ago. Continue Reading »

Rising Home Prices Keep Lifting Underwater Mortgages, Report Says

In the past year, 1.7 million borrowers have regained positive equity, a new CoreLogic report says, but the percentage of mortgage-holders who are underwater on their homes is still in the double digits. Continue Reading »

Repurposed Schools Offer Lessons in 'Ultimate Form of Recycling'

A repurposed school in Detroit finds a new life as a movie theater as it and many others U.S. cities search for new uses for shuttered public buildings. Continue Reading »

Why You Missed the Boat On Record-Low Mortgage Rates

Say goodbye to ultra-low mortgage rates. In the past month, rates have been on the rise and they are expected to continue to climb. Continue Reading »

5 Most Overvalued Housing Markets in America

Home prices are rebounding so much in some U.S. cities that property values have actually risen beyond what local economic fundamentals justify. Continue Reading »

Rising Interest Rates Won't Stop Housing Recovery, Group Says

The housing recovery is on a normal trajectory and gradual increases in interest rates won't slow it down, Lennar CEO Stuart Miller said. Continue Reading »

McMansions Are Making a Comeback

As the economy continues to improve, America's love affair with the oversized McMansion has been reignited. Continue Reading »

New Home Sales Up 2.3% in April as Median Price Hits Record High

Sales of new homes rose in April to the second highest level since the summer of 2008 while the median price for a new home hit a record high, further signs that housing is recovering. Continue Reading »

China's Real Estate Market: A Bubble About To Burst?

China measures GDP by what is built, unlike the U.S., which measures growth by what's bought and sold. That could lead to economic disaster. Continue Reading »

Obama's Pick for Housing Agency Head Faces Big Headaches

Washington has mixed feelings about President Barack Obama's new housing agency pick. Continue Reading »

U.S. Pending Home Sales Rise In March, NAR Says

Contracts to purchase previously owned U.S. homes rose in March, as the housing market continues to accelerate this year. Contracts last month reached the highest level since April 2010. Continue Reading »

How Climate Change Might Make Some Cities 'Uninhabitable'

Where not to live in the future, as a result of climate change. Environmentalists warn that some areas of the United States are not only especially vulnerable to the negative effects of climate change but are becoming dangerous and downright uninhabitable. Continue Reading »

Lessons for Boston in New York City's Recovery From 9/11?

By Colin Croughan and Graham Wood Realtor Vickie Cox can't help but think about her native New York as Boston struggles to cope with the tragic bombings at Monday's Boston Marathon. She's an agent at the Rye, N.Y., office of Sotheby's International Realty -- a suburb just 20 minutes outside of New York City... Continue Reading »

U.S. Housing Starts Surpass 1 Million in March

U.S. builders broke ground in March on homes at a seasonally adjusted rate of 1.04 million, the fastest since June 2008. The gain was driven by a surge in apartment construction and showed continued strength in the housing market at the start of the spring-buying season. Continue Reading »

Signs the Housing Recovery Has Moved Into Your Neighborhood

Just because all the talking heads are saying "housing is back!" doesn't mean everyone is buying it. There's a high degree of skepticism surrounding the housing recovery, according to a recent survey by the MacArthur Foundation. According to the survey, 77 percent of homeowners don't believe the housing crisis... Continue Reading »

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