Construction of new homes plunges to record lows
Construction of new homes and applications for future projects both plunged to record lows in January as all parts of the country showed big declines in building activity.
September existing home sales up 5.5%
Sales of existing homes rose by the largest amount in more than five years in September, a real estate trade group said Friday. The data is a possible glimmer of hope that the housing slump could be starting to bottom out.
Wall Street pulls back as financials fall
Wall Street retreated Monday after Fannie Mae and Freddie Mac fell to their lowest levels in nearly 20 years on concerns that the government might need to bail out the mortgage financiers. Weakness in the overall financial sector sent the Dow Jones industrial average down more than 175 points.
Ask Asa: It is easy being green - homewise,
Green home remodeling is going mainstream - at least in theory. Vermont-based green building consultant Peter Yost said the concept has grown significantly in the past decade, especially in response to skyrocketing energy costs.
Economy struggles with rising prices, slow growth
Wholesale prices barreled ahead while housing and industrial activity faltered - a blend of high-costs and slow growth that ensures the Federal Reserve's most likely move on interest rates next week will be no move whatsoever.
Ask Asa: Houses are expensive to maintain
Houses are expensive to buy and almost as much of a financial challenge to maintain. Just ask new homeowner Jessica Thornton, who is having second thoughts about her investment because she underestimated the cost of routine repairs.
Banks, housing batter stocks
Stocks tumbled Monday as investors were hit with a gloomy outlook for banks and bleak news about housing. Goldman Sachs' downgrade of large banks, and its estimate that Citigroup would have to write down $15 billion due to its exposure to risky debt over the next two quarters, unnerved Wall Street.
Dow closes down 218.35 points
Wall Street resumed its slide as the markets absorbed a gloomy outlook for the banking sector as well as bleak news from the National Association of Homebuilders. The Dow closed down more than 218 points.
Skittish Dow falls 170 points
Breaking News: Wall Street tumbled again Wednesday after the Federal Reserve added more cash to the banking system but failed to quash investors' jitters about problems in lending.
Wall Street closed slightly lower in erratic trading on Thursday as investors uneasy about the credit markets and record-high oil prices took little solace from a positive report on new home sales. Read more: "National Association of Home Builders - Topics - NY Daily News"
Economy struggles with rising prices, slow growth
Wholesale prices barreled ahead while housing and industrial activity faltered - a blend of high-costs and slow growth that ensures the Federal Reserve's most likely move on interest rates next week will be no move whatsoever.
Ask Asa: Houses are expensive to maintain
Houses are expensive to buy and almost as much of a financial challenge to maintain. Just ask new homeowner Jessica Thornton, who is having second thoughts about her investment because she underestimated the cost of routine repairs.
Banks, housing batter stocks
Stocks tumbled Monday as investors were hit with a gloomy outlook for banks and bleak news about housing. Goldman Sachs' downgrade of large banks, and its estimate that Citigroup would have to write down $15 billion due to its exposure to risky debt over the next two quarters, unnerved Wall Street.
Dow closes down 218.35 points
Wall Street resumed its slide as the markets absorbed a gloomy outlook for the banking sector as well as bleak news from the National Association of Homebuilders. The Dow closed down more than 218 points.
Skittish Dow falls 170 points
Breaking News: Wall Street tumbled again Wednesday after the Federal Reserve added more cash to the banking system but failed to quash investors' jitters about problems in lending.
Wall Street closed slightly lower in erratic trading on Thursday as investors uneasy about the credit markets and record-high oil prices took little solace from a positive report on new home sales. Read more: "National Association of Home Builders - Topics - NY Daily News"