Housing

12:53am

Wed April 11, 2012
Crisis In The Housing Market

Fannie, Freddie Weigh Mortgage Write-Downs

A pre-foreclosure sign is seen in front of a home in Miami. Supporters of a plan to reduce the principals owed by many homeowners facing foreclosure say it would prevent larger losses and keep people in their homes.
Joe Raedle Getty Images

Hundreds of thousands of homeowners facing foreclosure might get help by having the amount they owe reduced by Fannie Mae and Freddie Mac.

This is a hot topic in Washington, D.C., with many Democrats pushing for these so-called "principal reductions" to try to help the housing market. On Tuesday, a top federal regulator came a step closer to allowing the move.

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1:33am

Thu April 5, 2012
Around the Nation

Ohio Tears Through Blighted Housing Problem

Originally published on Thu April 5, 2012 8:33 am

The remains of a Cleveland house after demolition in February. Ohio has set aside $75 million to raze abandoned homes across the state.
Joshua Gunter The Plain Dealer

Cleveland resident Cedric Cowan was asleep on an overcast spring morning when the roaring sounds of splintering wood and falling rubble jolted him awake.

Cowan lives in a neighborhood hit hard by foreclosures. He initially thought someone was moving into the house on the other side of Fairport Avenue.

Instead, he woke that morning to find a crew tearing down the two-family house.

Over the course of three hours, an excavator smashed, crushed and ripped apart the abandoned house while a worker sprayed the rubble with a hose to keep the dust down.

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8:15am

Mon April 2, 2012
The Two-Way

Construction Spending Dips, But Manufacturing Expands

There was a 1.1 percent decline in spending on construction in February vs. January, the Census Bureau just reported. But spending was still 5.8 percent above the level of February 2011.

According to the bureau, spending on home construction was unchanged in February from the month before. Public construction spending was down 1.7 percent.

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2:50pm

Wed March 28, 2012
Crisis In The Housing Market

Spring Brings Some Green Shoots In Housing Market

Originally published on Fri March 30, 2012 12:14 pm

A recently sold home in Palo Alto, Calif. Home inventory is declining nationwide, and real estate agents say they are seeing more interest among would-be buyers.
Paul Sakuma AP

Housing prices are still declining, but many analysts see some signs for optimism in the housing market. The mild spring has brought buyers out earlier than usual, and real estate agents are busy.

Doug Azarian is one of them. One of his clients recently signed a deal on a $1.5 million house in Cape Cod, Mass. — a contemporary waterfront property with three bedrooms.

"The buyers came in, and they loved it from the minute they walked in the door," Azarian says.

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7:29am

Tue March 27, 2012

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