Keep on top of housing industry news right here. We gather articles on the housing industry from a variety of sources and experts. View the most recent headlines below or if you want to view articles from a particular area of interest, click on one of the Housing Intelligence news category links. Then go to our Forums to discuss any of these articles.
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Real Estate Roundup: PetSmart leases space for stores at Cascade Station, Sunset Square |
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11.17.2008 |
PetSmart Inc. leased space for two new locations in the Portland metro area.
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Hope for Homeowners foreclosure program falls flat |
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11.17.2008 |
Once touted as a potential breakthrough to help solve the foreclosure crisis, the government's Hope for Homeowners program has failed to live up to its billing so far. And there are serious doubts it ever will. Bankers don't like it. Consumers don't understand it. Government regulators don't trust it to solve the problem. The result: Federal housing officials have received fewer than 115 applications since the program took effect Oct. 1. Compare that to the more than 3 million homeowners currently in some form of foreclosure, according to the real-estate research firm RealtyTrac.
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11.17.2008 |
The current financial crisis began with the collapse of Fannie Mae and Freddie Mac in July. The dominant institutions in the American mortgage market, and among the most powerful institutions politically, became wards of the government in a matter of weeks. What was their fatal flaw? One popular explanation, often advanced by the GSEs themselves, is their "affordable-housing goals." In 1992, as part of the Federal Housing Enterprises Financial Safety and Soundness Act, Congress required the GSEs to devote some of their mortgage purchases to housing for families in the lower half of the income distribution, and also to families living in areas considered to be "underserved." Housing for both homeowners and renters is included. Specific percentage targets were set on a transition basis; the U.S. Department of Housing and Urban Development was required to revise the targets periodically, by regulation, which it has done three times (1996, 2001, and 2005).
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Supplier closes 4 S.C. outlets |
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11.17.2008 |
A restructuring at a large supplier for the home-building industry has claimed one local casualty, along with three others around the state. Raleigh-based Stock Building Supply shuttered its outlet on Innovation Drive in Summerville, along with locations in Anderson, Florence and Pawleys Island.
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Hovnanian Enterprises, Inc. at UBS Building and Building Products Sixth Annual CEO Conference -... |
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11.17.2008 |
Corporate Participants * Ara Hovnanian Hovnanian Enterprises, Inc. - President, CEO Presentation UNIDENTIFIED PARTICIPANT: We're going to get started again. So if everybody could just take their seats, it's our pleasure to welcome Ara Hovnanian and Jeff O'Keefe from Hovnanian. So please, Ara, take it away. I don't want to --. ARA HOVNANIAN, PRESIDENT, CEO, HOVNANIAN ENTERPRISES, INC.: Okay. Thanks. Good morning, everyone. As I'm sure you're well aware, and if you've been here for the balance of the conference, the housing market certainly remains challenging today - a lot of issues and specific challenges from unemployment, foreclosures, confidence, the credit markets, you name it. It's a difficult environment out there.
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