The U.S. economy grew at a 3.5% annual rate in the third quarter, ending a string of declines over four quarters that resulted in the most severe slide since the Great Depression. But some economists raised doubts about how long such strong growth can last.The increase in GDP, reported by the government Thursday morning, was [...]
Read moreEven as home prices rose for the third-straight month, some experts remain skeptical about the strength of the current market recovery, noting that prices could drop this winter.
“Plenty of pain yet to come,” says Joshua Shapiro, chief United States economist for MFR. Meanwhile, Maureen Maitland, vice president of Standard & Poor’s index services, warns, “Everything [...]
t’s increasingly likely that Congress will extend and expand the popular home buyer tax credit, which will expire next month. CNN.com reported today that a compromise proposal based on bills that have already been introduced could pass the Senate as early as this week assuming that it is attached to a bill to extend unemployment [...]
Read moreU.S. Senate Democrats reached an agreement among themselves to extend the soon-to-expire $8,000 tax credit for first-time homebuyers, Senate Banking Committee Chairman Chris Dodd said on Tuesday.
“We have that. Done,” Dodd told reporters, but declined to specify the details of the agreement.
A Republican senator who has worked with Dodd on the issue cautioned that members [...]
Real-estate prices increased for the fourth consecutive month, but consumers are feeling more glum, a disconnect that shows how rising unemployment continues to weigh on households even as the economy improves.
The S&P/Case-Shiller home price composite 20-city index rose 1.2% in August from July, with help from lower mortgage rates and a push from the $8,000 [...]
Home resales rose far more than expected last month to the highest level in more than two years as buyers scrambled to complete their purchases before a tax credit for first-time owners expires.
The National Association of Realtors says sales rose 9.4 percent to a seasonally adjusted annual rate of 5.57 million in September, from a [...]
For some time, there has been a volcano under the issue of the provision of news coverage to websites and other providers of news such as Google.
In a speech at a recent media meeting in Beijing, China, the volcano finally erupted when Rupert Murdoch told internet search engines that they should pay for news content.
He [...]
Two major Wall Street banks have reported better-than-expected profits between July and September.
Goldman Sachs’ profits for the period were $3.19bn (£1.96bn), a four-fold increase from the same period in 2008.
It has set aside $5.35bn to cover pay and bonuses for the quarter, an average payout of $172,581 per worker.
Citigroup’s profits also grew, but the much [...]
Taylor, Bean & Whitaker filed for Chapter 11 bankruptcy protection Monday under a new management team vowing to salvage what it can from the severely crippled home mortgage lender.
On Aug. 5, Taylor Bean abruptly laid off 2,000 employees nationwide, including 1,000 in its Ocala headquarters, after the Federal Housing Administration suspended its authority to issue [...]
LAGUNA BEACH With the coastal Orange County luxury housing market seeing hefty price reductions and closed sales considerably lower than the original asking price, it seems as though the collapse of home values has finally hit the multimillion dollar home market.
A total of 291 homes priced at $1 million or higher in Laguna Beach, Newport [...]
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