Based on data from HUD and the U.S. Census Bureau, the National Association of Home Builders NAHB) reports new single-family home construction rose 5.7 percent in Sept. to a seasonally-adjusted annual rate (SAAR) of 389,000 units. This marks the best sales rate in 2 1/2 years. NAHB Chief Economist David …
NASDAQ reports in a TV interview this morning, Oct. 24, on CNBC, Warren Buffett says the housing market has turned a corner and home construction is improving, and he expects Berkshire businesses tied to that industry to pick up. Despite the global economy slowdown, the Oracle of Omaha says the …
CNNMoney reports the third quarter in Spain has seen a shrinkage of 0.4 percent in both government and household spending. The fourth largest economy in the Eurozone contracted 1.7 percent year-over-year for Q3 2012, compared to 1.3 percent in the second quarter. A 25 percent unemployment rate and the government’s …
HousingWire reports in the wake of the financial meltdown, the nation gained 4.8 million renters in the last six years while losing 1.7 million owner households, according to the Mortgage Bankers Association (MBA). In the housing finance sector, the MBA predicts mortgage originations will hit $1.7 trillion in 2012, an …
MBA Prognosis: Slow Crawl to Health with Potential Busted Knees Read More
SmartPlanet informs MHProNews from Buenos Aires, Argentina prefabricated housing has meant low cost housing for years in Latin America. Additionally, labor is very low cost, so stacking bricks to make a home is relatively inexpensive. Sebastian Koltan has developed a galvanized steel-framed modular house with distinctive sustainability features: polyurethane foam-filled …
According to Mark Calabria, director of financial regulation studies at the Cato Institute, data collected by Lender Processing Service (LPS) reveals that for the first time, more than half of the borrowers in foreclosure have been in foreclosure previously. Writing in FinanceTownhall, Calabria says while first-time foreclosures have been falling …
The billingsgazette reports because housing is so scarce and wages are so great in the Bakken Oilfield in western North Dakota, the running joke is the oilfield holds the record for homeless people with $100,000 incomes. A housing summit last spring determined the need for 5,000 housing units for the …
The Daytona Beach NewsJournal reports from Florida Volusia County recorded its best quarter for new residential building permits in four years, notching 239 permits in Q3 2012, an increase of 104 percent over the same period in 2011. The pace is 35.8 percent over the second quarter of 2012. Rob …
The National Association of Home Builders (NAHB), while noting their prediction of a 21% rise in single-family housing starts this year to 528,000 units, and next year to 665,000, says the uncertainty of how the Dodd-Frank Act plays out is preventing lenders from loosening credit, and further constraining the housing …
The National Association of Home Builders says statistics from HUD and the U.S. Census Bureau report new home construction shot up 15 percent to a seasonally-adjusted annual rate (SAAR) of 872,000 units. New single-family home construction accounted for 11 percent of the increase, 603,000 units, the best rate since Aug. …
According to HousingWire, FNC’s most recent Residential Price Index (RPI) shows real estate values have risen to a 20 month high, as foreclosure sales have fallen 23 percent from a year ago to 17.4 percent. In the second quarter FNC home prices increased 2.7 percent, marking the largest rise in …
NationalMortgageNews reports loan modifications completed under both proprietary programs and the government’s Home Affordable Modification Program (HAMP) rose to 76,000 in August, an increase over the 66,000 in July and 46,400 in June. Of the 59,459 proprietary loan modifications in August, Hope Now says 93 percent had fixed interest rates …
MHProNews has learned the NAHB/Wells Fargo Housing Market Index (HMI) for newly-built single-family homes edged up one point to 41, its highest reading since June 2006. Any score above 50 indicates builders see sales conditions as good rather than poor. “Many builders are reporting increases in the number of serious …
In his review of Stanley Kurtz’s Spreading the Wealth: How Obama is Robbing the suburbs to Pay for the Cities, Eric Miller notes in Sustainable City News how the right has set up a straw man just to smash it down. Miller points out the suburbs were subsidized in the …
According to nationalmortgagenews foreclosure filings dropped seven percent in Sept. to the lowest reading since the fourth quarter of 2007, a total of 180,427 properties. RealtyTrac tells MHProNews filings fell year-over-year 16 percent. For the third quarter 2012, the 531,576 foreclosure filings amount to a five percent decline from the …
According to the Manufactured Housing Institute, the shipment of manufactured homes reported by Indiana increased 19.7 percent Aug. 2012 over the same month of 2011. On the year, shipments have risen 39.9 percent, from 2,286 homes Jan.-Aug. 2011, to 3,207 for the same period of 2012. As MHProNews reported Oct. …
A larger than expected drop in jobless claims last week was the result of one large state not filing their quarterly report, not the result of more jobs being filled. YAHOO! Finance reports the Labor Department said jobless claims fell by a seasonally-adjusted rate of 30,000 last week, resulting in …
Fastcodesign reports the new Starbucks in Denver looks more like something from the TV show Bonanza. Made of old Wyoming snow fencing, the modular unit is a drive-thru and walk-up only with no indoor seating, no internet connection, 500 square feet in size, LEED Certified and just large enough for …
In the latest weekly report from the Mortgage Bankers Association (MBA), nationalmortgagenews says mortgage applications dropped 1.2 percent for the latest weekly reading Oct. 5 following a 16.6 percent spike for the previous week ending Sept. 28. Refi applications accounted for 83 percent of the apps, much the same as …
According to nationalmortgagenews ,CoreLogic says residential shadow inventory as of July 2012 dropped to 2.3 million units from 2.6 million units a year ago, a decline of 10.2 percent. Of the 2.3 million, one million are seriously delinquent, 900,000 are going thru foreclosure, and 345,000 are already real estate owned …
