Fed's Yellen sounds off on state of economy (Reg Req'd) And those who know her acclaim her as a highly respected economist. Yellen also knows about the halls of power, the classrooms of academe and the boardrooms of business.via
Fewer sales cut mortgage deals (Detroit News) Fewer home purchases and less refinancing pushed U.S. mortgage applications down for a second week, according to a survey by the Mortgage Bankers Association.via
The con game of the unlicensed contractor ELENA CORDERO-ARMS / SPECIAL TO THE PVT Bill Adamson, a criminal investigator at the Nevada State Contractors Board, speaks to Pahrump residents last week during a seminar on unlicensed contractors
Big debts carried by residents New Hampshire consumers keep more credit cards than their counterparts in any other state - and shoulder thousands more in personal debt.Commentread more...
McKnight will build on growth in real estate Anne McKnight was lured out of retirement two years ago to return to the business of homebuilding, which had been her profession since the early '80s. McKnight's homecoming was at
Bank of England seeks to thaw frozen U.K. mortgage market (Market Watch) The Bank of England said it will swap up to 50 billion pounds worth of Treasury bills for high-rated mortgage-backed securities with commercial banks in an effort to unthaw frozen
“This is a precondition for recovery as it will eventually reduce the inventory overhang. But there is a long way to go.”
The prolonged slump in housing pushed construction of new homes in 2007 down by the largest amount in 27 years with the expectation that the downturn has further to go.
The Commerce Department reported Thursday that construction was started on 1.353 million new homes and apartments last year, down 24.8 percent from 2006. It was the second biggest annual decline on record, exceeded only by a 26 percent plunge in 1980, a period when the Federal Reserve was pushing interest rates to post-World War II records in an effort to combat an entrenched inflation problem. Read more
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