Today’s news that may be of interest to you:
Home Sales Data Doubted
The Wall Street Journal | February 22, 2011
The housing crash may have been more severe than initial estimates have shown. The National Association of Realtors, which produces a widely watched monthly estimate of sales of previously owned homes, is examining the possibility that it over-counted U.S. home sales dating back as far as 2007.
First-Time Defaulters: An Underappreciated Customer Segment?
DSNews | February 21, 2011
The housing crisis and the financial downturn that followed, without question, have profoundly altered the consumer lending landscape.
U.S. Home Prices Likely Had Biggest 12-Month Drop in a Year
Bloomberg | February 22, 2011
Residential real-estate prices dropped in the 12 months to December by the most in a year, a sign the U.S. housing market is struggling even as the rest of the economy recovers, economists said before a report today.
Foreclosure Sales Weigh Down Home Prices in 23 Markets
HousingWire | February 21, 2011
Home prices in 23 U.S. metropolitan areas fell 2.2% in December, the largest one-month drop for fiscal 2010, and a sign that foreclosed properties continue to weigh down home values across the nation, the FNC Residential Price Index revealed Monday.
New Consumer Bureau to Put Down Roots Across from White House
DSNews | February 21, 2011
Location, location, location. Elizabeth Warren says “that’s the real estate mantra, and the new consumer bureau is following the professional’s lead.”
Winding Down Fannie and Freddie Could Put Minority Careers at Risk
The Washington Post | February 22, 2011
Dialing back government support for District-based Fannie Mae and McLean-based Freddie Mac could have far-reaching implications for minority financial professionals in the Washington region.
Retiring Boomers Find 401(k) Plans Fall Short
The Wall Street Journal | February 21, 2011
The 401(k) generation is beginning to retire, and it isn’t a pretty sight. The retirement savings plans that many baby boomers thought would see them through old age are falling short in many cases.
Multifamily Construction Boosts Housing
NAHB | February 16, 2011
Nationwide housing starts rose 14.6 percent to a seasonally adjusted annual rate of 596,000 units in January, according to figures released by the U.S. Commerce Department today. The gain was entirely due to a 77.7 percent increase in the multifamily sector, where significant month-to-month swings in activity are not unusual and where new building has been below expectations for the past several months. Meanwhile, single-family housing starts remained virtually flat for the month, with a 1.0 percent decline.
From the National Association of Realtors®:
5 Most Affordable Housing Markets
CNNMoney.com reveals the five cities where the average family can most easily afford to buy a median-priced home.
New Fed Rule May Lower Costs for Borrowers
Under a new rule that goes into effect April 1, borrowers who get their mortgages through mortgage brokers must be offered the lowest possible interest rate and fees they qualify for.
Anthony V. Carollo / President
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