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Latest Causes of the United States housing bubble Stories

2008-12-15 06:45:00

Economists predict the U.S. Federal Reserve Open Market Committee may cut interest rates to historic lows after a two-day meeting beginning Monday. Fed chairman Ben Bernanke said on Dec. 1 that cutting federal fund rate , now at 1 percent, was feasible. Tuesday's announcement could include a rate cut to an historic low of 0.5 percent or lower, USA Today reported Monday. The fund rate sets the rate banks charge for overnight lending to each other. It is no guarantee that banks will lower...

2008-12-04 16:14:47

The value of homes in Britain fell, on average, $146.75 every day from the first of the year through November, Halifax bank reported Thursday. Homes values have dropped $49,242 on the year to an average value of $240,147, The Daily Mail reported. In the past 12 months, home prices have dropped 16.1 percent, the sharpest annual decline in 25 years. As home prices fall, only two lenders in Britain vowed to pass the Bank of England's rate cut announced Thursday on to homeowners, the newspaper...

2008-12-04 12:13:24

Federal Reserve Chairman Ben Bernanke said the government should increase its efforts to stem the sharp rate of U.S. foreclosures. Despite good-faith efforts by both the private and public sectors, the foreclosure rate remains too high, Bernanke said Thursday in a prepared speech at the Federal Reserve System Conference on Housing and Mortgage Markets in Washington. Bernanke said 2.25 million U.S. homes could end up in foreclosure in 2008, up from an average pace of less than 1 million homes...

2008-09-23 09:00:30

KB Home (NYSE:KBH), one of America's largest homebuilders, today announced that its website, www.kbhome.com, is now featuring monthly home payments calculated for its new home communities across the country. By highlighting monthly home payments, a key indicator of affordability, KB Home new home shoppers can now quickly compare the monthly cost of owning a new home with their current monthly rent. The monthly home payments are listed in addition to the base prices of the homes, and...

2008-09-09 12:00:12

To: REAL ESTATE EDITORS Contact: Walter Molony of the National Association of Realtors, +1-202-383-1177, wmolony@realtors.org WASHINGTON, Sept. 9 /PRNewswire-USNewswire/ -- The level of home sales is expected to show little movement in the months ahead, according to the latest projections by the National Association of Realtors(R). The Pending Home Sales Index(1), a forward-looking indicator based on contracts signed in July, fell 3.2 percent to 86.5 from an upwardly revised reading of...

2008-08-25 12:00:09

To: REAL ESTATE EDITORS Contact: Walter Molony of the National Association of Realtors, +1-202-383-1177, wmolony@realtors.org WASHINGTON Aug. 25 /PRNewswire-USNewswire/ -- Existing-home sales rose in July to the highest level in five months, although sales have hovered in a relatively narrow range over the past 11 months, according to the National Association of Realtors(R). Existing-home sales -- including single-family, townhomes, condominiums and co-ops -- increased 3.1 percent to a...

2008-08-07 12:00:33

To: REAL ESTATE EDITORS Contact: Walter Molony of NAR, +1-202-383-1177, wmolony@realtors.org WASHINGTON, Aug. 7 /PRNewswire-USNewswire/ -- Some improvement is projected for existing-home sales in the months ahead, with broader gains seen by the fourth quarter as buyers take advantage of new provisions provided through the recently passed housing stimulus bill, according to the latest forecast by the National Association of Realtors(R). The Pending Home Sales Index,(1) a forward-looking...

2008-07-24 12:00:13

To: REAL ESTATE EDITORS Contact: Walter Molony of NAR, +1-202-383-1177, wmolony@realtors.org WASHINGTON, July 24 /PRNewswire-USNewswire/ -- After gaining in May, existing-home sales declined in June with many potential buyers on the sidelines, according to the National Association of Realtors(R). Existing-home sales -- including single-family, townhomes, condominiums and co-ops -- fell 2.6 percent to a seasonally adjusted annual rate(1) of 4.86 million units in June from a pace of 4.99...

2008-07-16 18:00:06

By Scott Andron, The Miami Herald Jul. 16--Inflation hit an annual rate of 5 percent in June, the highest since 1991, the Labor Department said Wednesday. From May to June alone, prices were up 1.1 percent, the second-highest monthly increase since 1982, after normal seasonal fluctuations are taken into account. South Florida's annual rate was 5.8 percent, exceeding the national average and among the highest of the metropolitan areas tracked by the government. The local rate was the...

2008-07-08 12:00:24

To: REAL ESTATE EDITORS Contact: Walter Molony of the National Association of Realtors, +1-202-383-1177, wmolony@realtors.org WASHINGTON, July 8 /PRNewswire-USNewswire/ -- Modest near-term movement is expected in existing-home sales, with a recovery in sales seen during the second half of the year, according to the latest forecast by the National Association of Realtors(R). The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in May, fell 4.7 percent to...


Word of the Day
kenspeckle
  • Having so marked an appearance as easily to be recognized.
This word may come from the Swedish 'kanspak,' quick at recognizing persons or things, or else from confusion with 'conspicuous.'