Tag: recession

  • Home Values in Big Cities Took Biggest Hit in Recession, Study Says

    The Places Where Recession Hit Home Values the Hardest

    A new Census Bureau report looks at the effects of the recession on home values and American homeownership by state, county and city. Continue Reading

  • Fed Sticks to Stimulus, Worried About Growth Soft Spots

    Reprieve for Low Mortgage Rates?

    Citing strains in the economy from tight fiscal policy and higher mortgage rates, the Fed decided against a tapering of asset purchases that investors had all but priced into stock and bond markets. Continue Reading

  • Why Real Estate Investors Have the Edge in Housing Market

    Housing Market: Big Players Are Running the Table

    The way real estate investors are snapping up cheap properties has left average homebuyers in many markets out in the cold. Here's why. Continue Reading

  • Slowest-Growing Cities in the Past 20 Years

    Slowest-Growing Cities in the Past 20 Years

    By Joshua Berlinger Some cities still haven't recovered from the 2008 economic meltdown. And others have been suffering for decades. New data in Brookings' 2012 Global MetroMonitor allows us to rank 300 major metro areas by change in GDP per capita and employment from 1993 to 2012. The best cities for... Continue Reading

  • Home Asking Prices Log Biggest Year-Over-Year Jump Since Recession

    Asking Prices Log Big Year-Over-Year Climb

    In August, home asking prices rose 2.3 percent year over year, the largest annual jump reported yet by online listing service Trulia's Price Monitor and the largest year-over-year increase since before the recession. Continue Reading

  • A Tale of Two Housing Markets

    A Tale of Two Housing Markets

    In America, it's starting to feel as if there are two housing markets. One for the rich and one for everyone else. Consider foreclosure-ravaged Detroit. In the historic Green Acres district, a haven for hipsters, a pristine, three-bedroom brick Tudor recently sold for $6,000 -- about what a buyer would have... Continue Reading

  • Viewpoint: Hey Mr. President, How About Housing?

    Viewpoint: Hey Mr. President, How About Housing?

    President Obama devoted exactly 57 words to the housing crisis in his 34-minute speech about jobs. Yes, we understand that the speech was intended to be about jobs -- pass this bill -- and that the lack of jobs -- pass this bill -- has pushed Americans to the brink. Still, watching the president's speech were... Continue Reading

  • One in Four Renters' Choice: Food or Shelter

    One in Four Renters' Choice: Food or Shelter

    The recession has forced many Americans to make some hard choices, but none as stark as this: food or shelter. One in every four families that rent their homes could have to choose between paying rent, buying groceries or staying current on bills, according to a report released Tuesday. Yepoka Yeebo at... Continue Reading

  • Double-Dip Recession? 1-in-4 Chance for House Market

    Double-Dip Recession? 1-in-4 Chance for House Market

    How do you like these odds? A new report from Moody's Economy.com predicts a one-in-four chance of the national housing market lapsing into a double-dip recession. The author of the report, economist Andrew Gledhill, identifies 22 cities that are most likely to take another nosedive. While the cities are spread... Continue Reading

  • Colorado Luxury Home Sales Climb as Wealthy Bargain-Hunt

    Colorado Luxury Home Sales Climb as Wealthy Bargain-Hunt

    An uptick in sales of high-end mountain real estate in Colorado has prompted a critical question: Are the rich really returning to the real estate market and buying luxury homes? Or are they still hoarding their wealth after getting burned in the crash? Mixed signals about what the wealthy are doing with their... Continue Reading

  • Meredith Whitney Predicts Double Dip in Housing Market: Is She Right?

    Meredith Whitney Predicts Double Dip in Housing Market: Is She Right?

    Could a double dip in the housing market be on the way? That's what influential banking analyst Meredith Whitney told CNBC's Squawk Box yesterday. And while the news is not all gloom and doom, Whitney -- one of Wall Street's best-known bears -- sees what she calls some "scary" behaviors by consumers that will... Continue Reading

  • Low Mortgage Rates: Protection Against Double-Dip Recession?

    Low Mortgage Rates: Protection Against Double-Dip Recession?

    An apple a day keeps the doctor away, while a low mortgage rate ... keeps recession at bay? That's the thinking at Morgan Stanley, where economists have published research arguing, among others things, that rock-bottom mortgage rates are helping the US economy avoid a double-dip recession. In the report,... Continue Reading

  • Homebuilders Scale Down as Homebuyers Think Smaller

    Homebuilders Scale Down as Homebuyers Think Smaller

    The recession has taken a bite out of the McMansion, and experts don't expect homeowners will be supersizing their homes again anytime soon. The U.S. Census Bureau released new figures, based on homes completed in 2009, which show that the average square footage of a new, single-family home completed in 2009... Continue Reading

  • Greenspan's 'No Housing Bubble' Prediction, 5 Years Later

    Greenspan's 'No Housing Bubble' Prediction, 5 Years Later

    This week marks the fifth anniversary of then-Federal Reserve Chairman Alan Greenspan's observation that there was no housing bubble to worry about: "Although a 'bubble' in home prices for the nation as a whole does not appear likely, there do appear to be, at a minimum, signs of froth in some local markets... Continue Reading

  • Mortgage Rates Down? Greece, Portugal Might Explain Why

    Mortgage Rates Down? Greece, Portugal Might Explain Why

    Interest rates dropped again last week as economists argued about the financial crisis in Europe and how bad it might get. As HousingWatch reported, Greece and Portugal's bad news could be the American homebuyers' gain. But how does such faraway news directly affect the U.S.? Average interest rates for... Continue Reading

  • Tahoe Ritz Carlton Checks Out, Defaults

    Tahoe Ritz Carlton Checks Out, Defaults

    As the first step towards possible foreclosure, the new Ritz Carlton Hotel in Lake Tahoe has gone into default. This is not so much a reflection on the Ritz Carlton, but on what's going on in the entire Tahoe region. The luxury hotel opened in December and charges anywhere from $249 to $4,000 a night--perhaps a... Continue Reading

  • The Recession's Most Ridiculous Luxuries

    The Recession's Most Ridiculous Luxuries

    We all have too much stuff we don't need and never use because as modern day consumers in a land of abundance we're programmed to swipe the card and think (and pay) later. So as the Great Recession and real estate market slump sap our buying power, and we all take stock of what's really important in our lives,... Continue Reading

  • Years Into Downturn, Homeowners Accept Declining Value

    Years Into Downturn, Homeowners Accept Declining Value

    Homeowners are often a sunny (we won't say "irrational") lot that tend to believe their homes are more valuable than they really are. Year after year, in survey after survey, they make it clear that they regard a two-room shack as a Swiss chalet, their mini-McMansion a bottomless piggy bank, and their remodeling... Continue Reading

  • The Incredible Shrinking Home: The Trend is Small

    The Incredible Shrinking Home: The Trend is Small

    The Great Recession continues to sap so much of what we Americans hold dear -- our jobs, homes, retirement savings, and optimism. Now comes another low blow: if you do manage to buy a home nowadays, it's likely to be smaller than your neighbor's. Homes being built now are actually shrinking in size, suggesting... Continue Reading

  • Commercial Real Estate Still a Drag on Economy

    Commercial Real Estate Still a Drag on Economy

    The second, third, or maybe Nth shoe to fall in the ongoing real estate crisis is commercial real estate -- offices, factories and to a certain extent rental apartments -- which tend to trail the owner-occupied housing market as leases end, jobs are lost, and businesses close (or recover). Alas, commercial real... Continue Reading

  • A Recession Guide to Holiday Tipping

    A Recession Guide to Holiday Tipping

    In 21st-century New York, you can ask someone if she's having a threesome or using Botox, but it feels oddly off-limits to inquire about the dollar amounts being given to the super. One brave neighbor in my building recently weighed in on the subject, offering a view I used to subscribe to for several years:... Continue Reading

  • Are You a Single or a Double Dipper?

    Are You a Single or a Double Dipper?

    Walking down Fifth Avenue recently, I couldn't help but be struck by the number of empty storefronts, particularly at this time of year. So much for those green shoots. Talk of an economic double dip is rising, as typically happens at the tail end of every recession. What backs up the argument for a double dip?... Continue Reading

  • A Bad Deal for Bachelors?

    A Bad Deal for Bachelors?

    The New York Times recently wrote of the "decline and fall of the bachelor pad." Specifically, the article noted the economy's effect on single men, and their retreat from pimped-out residents due to a reported average of 7.4 percent unemployment in the 20 to 34-year-old age range. (Goodbye, flush, flash days... Continue Reading

  • Errbody on the Block Gettin' Thrifty

    Errbody on the Block Gettin' Thrifty

    You now have more competition for that vintage sofa you've been eying at Goodwill. According to Brandweek, a recent study revealed the recession's causing a rise in popularity of second-hand goods. Sixty-seven percent of the National Association of Resale & Thrift Shops' members polled said their sales... Continue Reading

  • Borrowing: The New Buying

    Borrowing: The New Buying

    Whose got room for six extra folding chairs, a ladder or a full set of tools? If you're a renter, probably not you. But every now and then you've got to hang a picture or have 12 friends over for dinner. Now, instead of heading to Target or Idea and adding to your clutter, a few new sites are leading a... Continue Reading

  • Roommate Listings Nearly Double in Downturn

    Roommate Listings Nearly Double in Downturn

    Whether you are a retiree with a cracked nest egg or an upside-down homeowner with a room to spare, many people are looking to a roommate situation to either supplement their income or to find a cheaper living arrangement of their own. According to a Craigslist spokesperson, roommate listings are up 160... Continue Reading