Consumer insolvency at new record The number of people in England and Wales unable to pay off their debts surged to a fresh record in the second quarter and home repossessions jumped by about a
Rising default rates hitting subprime mortgage industry hard (International Herald Tribune) Rising default rates and the related financial troubles of mortgage companies could hurt a broad segment of the American housing market.read more...
Mortgage Hotline Rings Off the Hook (Builder Online) Last week, the Bush administration unveiled initiatives designed to battle the worsening mortgage crisis, including a voluntary interest rate freeze for subprime mortgages.read more...
Business Focus INSIDERS agree that real estate leasing is an advantageous way for certain businesses to purchase real estate.read more...
City Commission adopts restrictions on where sex offenders can live The ordinance, which takes effect immediately, would apply to sex offenders whose victims were less than 16 years old and also creates penalties for landlords or realtors renting a home
Minneapolis Home Market Thaws To Become More Buyer Friendly Sellers have had the upper hand for the past five years in the city, but longer selling times and a drop in the number of homes sold is leveling the
“The builders didn’t realize how many cancellations they are going to face. If we hit 1.0 million start range, it’s consistent with recessions in the past. And we are heading in that direction.”
Home construction starts fell in September to their lowest level in more than 14 years, while consumer prices rose at the sharpest rate in four months, separate reports showed on Wednesday. via Earth Times
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