Jan 26th 2012 2:00PM
WASHINGTON -- Fewer people bought new homes in December. The decline made 2011 the worst year for new homes sales on records dating back nearly half a century. The Commerce Department said Thursday that new-home sales fell 2.2 percent last month to a seasonally adjusted annual pace of 307,000. The pace is less than half... Continue Reading »
Jan 3rd 2012 12:20PM
WASHINGTON -- Construction spending jumped in November as builders spent more on single-family homes, apartments and remodeling projects. The Commerce Department said Tuesday that spending on construction projects rose 1.2 percent in November, following a revised 0.2 percent drop in October. The increase was the third in... Continue Reading »
Dec 8th 2011 2:00PM
LOS ANGELES -- Jodie Foster's estranged father faces more than 25 years behind bars after being convicted of bilking more than $100,000 from the poor and elderly in a home-building scheme. City News Service reports that Lucius Foster (pictured above) was convicted of 21 misdemeanor counts of grand theft after a jury... Continue Reading »
Nov 16th 2011 12:30PM
WASHINGTON -- U.S. homebuilders are feeling a little less pessimistic about the struggling housing market. But their mood hasn't changed enough to signal a recovery anytime soon. The National Association of Home Builders says its builder sentiment index rose to 20 in November. That's the highest level since May 2010... Continue Reading »
Oct 26th 2011 11:20AM
WASHINGTON -- Sales of new homes rose in September after four straight monthly declines, largely because builders cut their prices in the face of depressed demand. Analysts say the modest increase on the back of reduced prices suggests the struggling housing market is years away from a turnaround. The Commerce Department... Continue Reading »
