Shares of American Home Mortgage Investment Corp. plunged 90 percent Tuesday after the company raised fears it may become insolvent, renewing concern about worsening credit quality in the mortgage market and killing a Wall Street rally. Read More…
“No signs of a turnaround,” says Robert J. “Irrational Exuberance” Shiller in announcing the May results for his national home price survey. The S&P/Case-Shiller 10-City Index showed an annual decline 3.4%, the worst since the summer of 1991. The results…n Read More…
The National Association of Home Builders sponsors an economic npublication for the housing industry which publishes at nHousingEconomics.com. In mid-July it released a study on nMetropolitan Area House Prices and Affordability written by nElliot F. Eisenberg, Ph.D. nn One cannot deny that the study is self-serving, but the findings are nat least a little revealing of some […]
A developer who agreed in January to pay $510 million for the waterfront trailer park town canceled the deal Monday because of a dispute with the community, though the company promised to try to work out the differences. Read More…
The number of U.S. homes facing foreclosure surged 58 percent in the first six months of the year, the latest sign of mounting problems in the mortgage industry, a data firm said Monday. Read More…
Bank of America kicked up a stink when it came to light several months ago that it had been quietly testing a credit card in California that didn’t require an applicant to possess a Social Security number, which was tacit…n Read More…
Regular readers of this blog will recall that a few weeks back I posted an item on how John Devaney, a Florida hedge fund manager who was one of the golden boys of the financial set (Devaney was flashy, and…n Read More…
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Q: Bowie: What rights does a homeowner have when a homeowners association violates its own rules? In my development, you have to get approval from the HOA to make exterior changes. The bylaws say the HOA will respond within 30 days. Read More…
It’s so strange. I just spent a few days touring the boring underbelly of real estate transactions, namely the world of title companies, settlement agents and real estate lawyers, and eventually found my way to a cappuccino machine in a “closing cottage.” Seriously. It’s in Bethesda. Read More…