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Latest Causes of the United States housing bubble Stories

2005-09-13 10:19:06

WASHINGTON (Reuters) - Hurricane Katrina, which battered the U.S. Gulf Coast two weeks ago, will have long-term consequences for the housing market and economy, boosting both home prices and construction costs as rebuilding gets underway, a trade group said on Tuesday. Total housing, commercial and public property losses by Katrina total about $100 billion, the National Association of Realtors said in its monthly economic forecast. Rebuilding will put pressure on the already...

2005-08-18 12:18:11

By Jim Christie SAN FRANCISCO (Reuters) - Home-ownership in California has increased to a level not seen since 1960 but it is coming at a high cost and risk for home buyers, according to a study released on Thursday. To keep up with soaring home prices, Californians are setting aside a dangerously large share of income for house payments and taking on risky mortgages, according to the Public Policy Institute of California. It found 52 percent of Californians who bought a home in...

2005-08-11 19:52:53

By Jim Christie SAN FRANCISCO (Reuters) - The number of California households able to afford a median-priced home in the state fell to 16 percent in June from 18 percent a year earlier, nearing a record low amid soaring home prices, according to a report released on Thursday. The percentage has been under 20 percent for the past year and is closing on a record low 14 percent set in the summer of 1989, reflecting the effect of fast-rising home prices across the state, according to...

2005-08-09 14:01:51

By Tim Ahmann WASHINGTON (Reuters) - The Federal Reserve raised a key U.S. interest rate a quarter-percentage point on Tuesday, offering no sign after a 10th straight rise that it was ready to end its campaign of modest increases to curb inflation. The U.S. central bank's policy-setting Federal Open Market Committee unanimously voted to lift the benchmark federal funds rate, which can sway borrowing costs throughout the economy, to a four-year high of 3.5 percent. The panel said rates are...

2005-08-09 13:31:42

By Tim Ahmann WASHINGTON (Reuters) - The Federal Reserve raised a key U.S. interest rate a quarter-percentage point on Tuesday, offering no sign after a 10th straight rise that it was ready to end its campaign of modest increases to curb inflation. The U.S. central bank's policy-setting Federal Open Market Committee unanimously voted to lift the benchmark federal funds rate, which can sway borrowing costs throughout the economy, to a four-year high of 3.5 percent. The panel said rates are...

2005-08-09 08:03:24

WASHINGTON (Reuters) - Federal Reserve policy-makers began a meeting on Tuesday that economists expect will result in the 10th consecutive hike in short-term U.S. interest rates and few clues on when rate rises will end. The central bank's rate-setting Federal Open Market Committee began meeting at 9 a.m. (1300 GMT), a Fed official said. A decision on interest rates is expected around 2:15 p.m. (1815 GMT). Fed officials are widely expected to push up the overnight federal funds rate, which...

2005-07-25 09:26:28

WASHINGTON (Reuters) - Sales of existing homes rose 2.7 percent in June to a record pace as home prices soared 14.7 percent from a year ago, the biggest jump in nearly 25 years, a trade group said on Monday. Sales of previously owned homes surged to a seasonally adjusted 7.33 million unit annual rate last month from May's upwardly revised 7.14 million unit clip, the National Association of Realtors said. That figure includes both single-family homes and condominiums. Analysts had expected...

2005-07-20 11:46:20

(Corrects sentence in fifth paragraph to read "...which move in the opposite direction to prices" instead of "... which move in the opposite direction to yields.") By Alister Bull WASHINGTON (Reuters) - Alan Greenspan, in one of his last appearances before Congress as Federal Reserve chairman, told lawmakers on Wednesday the U.S. growth outlook was solid and the Fed will keep lifting interest rates. But he warned "significant uncertainties" confront this positive prospect, including...

2005-07-20 11:52:13

By Alister Bull WASHINGTON (Reuters) - Alan Greenspan, in one of his last appearances before Congress as Federal Reserve chairman, told lawmakers on Wednesday the U.S. growth outlook was solid and the Fed will keep lifting interest rates. But he warned "significant uncertainties" confront this positive prospect, including high energy prices, labor costs, the future path of long-term interest rates and the danger this could spell for the country's housing market. "Our baseline outlook for...

2005-06-30 21:53:34

By Glenn Somerville WASHINGTON (Reuters) - The Federal Reserve raised key U.S.interest rates a quarter-percentage point on Thursday, a ninthstraight increase with no sign a year-long campaign of riseswas nearing an end. The central bank's policy-setting Federal Open MarketCommittee unanimously voted to lift the federal funds rate --charged on overnight loans between banks and intended toinfluence credit costs throughout the economy -- to 3.25percent. That widely expected move brought the...


Word of the Day
barratry
  • The offense of persistently instigating lawsuits, typically groundless ones.
  • An unlawful breach of duty on the part of a ship's master or crew resulting in injury to the ship's owner.
  • Sale or purchase of positions in church or state.
This word ultimately comes from the Old French word 'barater,' to cheat.
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