Market News
Builders Serving Mature Home Buyer Market See More Consumer Interest
NAHB
Sales Still Low; Future Expectations Higher, But Modest
http://www.nahb.org/news_details.aspx?sectionID=0&newsID=9304
Bolstering GSES Key to Future of Nation's Housing Finanace System
NAHB
In contemplating the future status of housing government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, the National Association of Home Builders (NAHB) yesterday told Congress it is critical for the federal government to provide a backstop to the housing finance system to ensure a reliable and adequate flow of affordable housing credit.
http://www.nahb.org/news_details.aspx?sectionID=0&newsID=9303
FHA Tax Credit Monetization Helps Home Buyers With Upfront Costs
NAHB
First-time home buyers who would otherwise qualify for the $8,000 tax credit, but don’t have the money for a down payment or closing fees, may now be able to get a loan to help cover those upfront costs.
http://www.nahb.org/news_details.aspx?sectionID=0&newsID=9333
Green Act The Right Approach For Affordable, Sustainable Homes
NAHB
In testimony before Congress today, the National Association of Home Builders (NAHB) praised H.R. 2336, the GREEN Act of 2009, which sets new green building and sustainability benchmarks for properties that get financial assistance from the federal Department of Housing and Urban Development.
http://www.nahb.org/news_details.aspx?sectionID=0&newsID=9335
Builder Caution Reflects Fragile Housing Market in June
NAHB
Indicating that single-family home builders remain cautious and concerned about the fragile state of today’s economy and housing market, the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) declined one point to 15 in June.
http://www.nahb.org/news_details.aspx?sectionID=0&newsID=9338
Is the Housing Bust About to Take Manhattan?
Reuters
New York City real estate prices are looking increasingly shaky as instability in two of the city's sexier submarkets -- second homes in the Hamptons, and new condos in Manhattan -- register the latest signs of a housing downturn.
http://www.reuters.com/article/newsOne/idUSTRE55D1ON20090614
Study: Homeowners Less Happy Than Renters. They Weigh More, Too.
The Wall Street Journal
The report says that homeowners spend, on average, less time on leisure than those who don’t own homes. And the average homeowner is around 12 pounds heavier that those who rent.
http://blogs.wsj.com/developments/2009/06/12/study-homeowners-less-happy-than-renters-they-weigh-more-too/
Rate Rise Clouds Recovery
The Wall Street Journal
Rising interest rates threaten to dim prospects for a housing recovery and choke off a refinance wave that was a major plank of the Obama administration's economic-stimulus efforts.
http://online.wsj.com/article/SB124467701447204165.html" \l "mod=article-outset-box
Playing Mortgage Market Proves Tricky
The Wall Street Journal
As mortgage delinquencies have climbed, hundreds of investors have sought to profit by buying troubled loans from banks and other institutions, restructuring the mortgages to keep borrowers in their homes and quickly moving loans that can't be saved to foreclosure.
http://online.wsj.com/article/SB124459303760100287.html" \l "mod=article-outset-box
Is Your Home A Good Investment?
The Wall Street Journal
As assets, homes provide only modest annual returns in the long run.
http://online.wsj.com/article/SB124336746233955539.html
Fed Boosts Efforts to Aid Commericial Real Estate
The Wall Street Journal
The Federal Reserve is broadening efforts to get credit flowing to the commercial real estate market, announcing Tuesday that it will soon accept older bonds as collateral under its Term Asset-Backed Securities Loan Facility.
http://online.wsj.com/article/SB124276215269535843.html
Penetraing the Maze of Mortgage Relief
The New York Times
Since President Obama unveiled a mortgage modification program in March to help people who are at risk of losing their homes, housing counselors in the New York area have fielded hundreds of calls along the lines of: “How do I get one of those 2 percent mortgages?
http://www.nytimes.com/2009/06/14/realestate/mortgages/14cov.html?_r=1&ref=realestate
Beazer's Loss Is Street's Gain
Forbes
Homebuilder posts narrower loss, prompting investors to jump into the stock.
http://www.forbes.com/2009/02/09/beazer-homes-loss-markets-equity-0209_earnings_20.html
California Running Our of $10,000 Tax Credits
CNN Money
Time is running out for California residents wanting to take advantage of a $10,000 tax credit.
http://money.cnn.com/2009/06/12/real_estate/10000_California_tax_credit/?postversion=2009061215
Housing may Bottom, but Recession Rolls Along
Market Watch
The U.S. economy is still in recession despite a few signs of improvement in - of all places - the housing market.
http://www.marketwatch.com/story/housing-may-bottom-but-recession-rolls-along
Prefab Movement Needs to Rethink its Model
Los Angeles Time
Firms find themselves without a toehold even as the any-architecture-goes building boom ends. Taking on a multifamily mind-set could be a new beginning.
http://www.latimes.com/entertainment/news/arts/la-et-notebook13-2009jun13,0,7155108.story
A Tale of Two Markets Divided by The Conforming-loan Limit
Los Angeles Times
Mortgage rates are low and sales are booming for cheaper homes. But sales are at a virtual standstill for pricier homes because buyers can't get jumbo loans at acceptable rates.
http://www.latimes.com/classified/realestate/news/la-fi-lew14-2009jun14,0,4908426.story
DWP Offers Cash Incentive to Remove Lawns
Los Angeles Times
The DWP hopes to reduce water used on lawns -- by reducing the lawns.
http://www.latimes.com/features/home/la-hm-grass13-2009jun13,0,5031330.story
No Relief in Sight for State Contractors
Los Angeles Business Journal
Stalled projects hit businesses already owed money.
http://www.labusinessjournal.com/industry_article.asp?aID=27277534.1714572.1793922.1139663.6530772.373&aID2=137985&cID=8
Online Information Rocking Housing World
OC Register
The business of selling homes isn' just being rocked by economic forces.
http://lansner.freedomblogging.com/2009/06/13/online-information-rocking-housing-world/25717/
New Plan for Housing on S.F. Bay is reckless
SF Gate
Rampant development had shrunk San Francisco Bay by one-third before a citizen revolution halted the destruction 50 years ago, and now the whole region cherishes the natural treasure we've protected and restored.
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/06/13/INSV183RFN.DTL
Builder Pays Ex-CEO $1 Million to End Dispute
OC Register
Standard Pacific Homes has agreed to pay its ex-CEO $1 million plus attorneys’ fees to settle his $23 million claim against the company.
http://lansner.freedomblogging.com/2009/06/12/irvine-builder-settles-dispute-with-ex-ceo/25925/ KTGY Designed Affordable Apartments in Irvine to Celebrate Grand Opening in July
PRLog
Granite Court Apartment Homes in Irvine, Calif., designed by KTGY Group, will celebrate its Grand Opening in July, 2009. Granite Court provides safe, quality affordable housing to families earning between 30% and 60% of the area median income.
http://www.prlog.org/10257887-ktgydesigned-affordable-apartments-in-irvine-to-celebrate-grand-opening-in-july.html
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