Mortgage Crisis
Housing Starts Plummet
The latest figures show a dramatic drop in housing starts across the United States -- a sign, according to Dean Baker, that builders are having trouble securing credit.
Center for Economic and Policy Research
How the "Ownership Society" Backfired
The Bush Administration's ideology of homeownership combined with a lack of oversight contributed significantly to the collapse of the housing market and the present economic crisis, according to this New York Times investigation.
New York Times
Developers Latest To Ask For Bailout
With a record amount of commercial real-estate debt coming due, some of the country's biggest property developers have become the latest to go hat-in-hand to the government for assistance.
The Wall St. Journal
The Cautionary Tale of Vallejo
Vallejo, CA declared bankruptcy last spring, felled by fiscal mismanagement and falling property taxes. Cities around the country are looking to Vallejo's example as they teeter near the edge.
Governing Magazine
Worse Times Ahead for Housing
Latest figures are indicating that as many as 4 in 10 mortgage holders in America could soon be "underwater," with the potential for millions to simply walk away.
McClatchey Newspapers
Des Moines Sees Home Prices Rise
Des Moines, IA is one of 28 metropolitan areas that have seen home prices go up in the third quarter, according to the National Association of Realtors.
The Des Moines Register
Housing Comeback in 2010?
An industry expert predicted at ULI's fall meeting that the new home market could pick back up by 2010, followed by a rally in the resale market in 2011.
ULI's The Ground Floor
HUD Announces Mortgage Guidelines- But Can't Enforce Them
The Department of Housing and Urban Development says the new rules will help buyers understand broker's fees will limit fee increases, and they are currently seeking legislation to give them the power to enforce the rules.
The Wall St. Journal
A Town Underwater
Almost 90% of the homeowners in Mountain House, CA, a planned smart growth community in the Central Valley, owe more on their mortgages than their homes are worth- the highest percentage in the country.
The New York Times
In Poor Housing Market, Workers Won't Relocate
Afraid of losing their investment in a down market, homeowners aren't moving out of their neighborhoods - even if their jobs do.
The Christian Science Monitor
One Developer's Outlook
Dawanna Williams of Dabar Development Partners discusses the narrower options for mid-sized developers in the current financial climate.
The Architect's Newspaper
Real Estate Market Won't Hit Bottom 'Til 2009
The Urban Land Institute reports on their new study, which predicts the real estate market will hit bottom in 2009 and 'flounder' through 2010.
ULI's The Ground Floor
Investing in Communities During the Mortgage Crisis
Former Indianapolis Mayor Stephen Goldsmith is impressed by Mayor Christopher B. Coleman's efforts to revitalize depressed areas of his city, St. Paul. Coleman keeps the focus on increasing local investment through his 'Invest St. Paul' program.
Governing Magazine
Ghost Town in Yorkville
Yorktown was a booming exurb of Chicago, until the mortgage crisis put the kibosh on a number of developments in progress. Residents of these 'ghost towns' find themselves stuck with properties they can't sell.
Chicago Tribune
One-in-Six Homeowners 'Underwater'
Some 12 million households now owe more on their mortgages than their homes are worth, leading economists to worry that foreclosures will continue to rise.
MSNBC
Under McCain, Homeowners to Get a Direct Boost
Upon gaining the presidency, Senator McCain would make the federal government spend part of its bailout money on bad home mortgages, allowing homeowners to stay put and make payments that reflect their homes' lessened values.
Newsweek
Greenwich Facing 'Financial Tsunami'
Greenwich, Connecticut is a rich enclave of hedge fund managers- and thus is feeling the pain of the current financial crisis like a ton of bricks. Ned Lamont, a Greenwich resident who ran for Senate in 2006, says, 'This is our Katrina.'
The Wall St. Journal
HUD Says 'Too Many Houses on the Market'
HUD Secretary Steven Preston said this week that the U.S. is facing a 'fundamental oversupply' of houses, which will continue to weigh down the economy.
Pittsburg Post-Gazette
Fannie and Freddie Go Federal
The government takeover of Fannie Mae and Freddie Mac will likely bring lower interest rates, but tighter eligibility requirements and stricter monitoring of underwriting.
CNN











