January 19, 2012 The U.S. housing industry has yet to recover from the last recession, but you wouldn't know that by looking at rising home prices in California's still-prosperous Silicon Valley. By being conservative with his ventures, James Witt has made a successful business out of rebuilding Palo Alto homes.
January 6, 2012 Of all the good news in the December unemployment report, perhaps the most encouraging sign for the 2012 labor market was the increase in construction jobs. That sector has lost more than 2 million jobs as the housing market imploded, but increases in construction could be a cautious sign of a turnaround, analysts say.
January 2, 2012 In almost one-third of private home loan modifications, big banks are now slashing what homeowners owe. It's overdue housekeeping for America's economy, says one investor: Banks clear their balance sheets, investors get a predictable stream of income, and homeowners stay homeowners.
December 27, 2011 Home prices have fallen 35 percent from their peak about six years ago and continue to drop. That makes lenders and potential homebuyers nervous, so sales aren't picking up much despite the lowest interest rates in decades. And the unsolved foreclosure mess continues to push prices down even more.
November 29, 2011 The worst may be over for the housing market, but a "sustained recovery" is unlikely until the economy gains strength, according to the latest S&P/Case-Shiller Home Price Indices report.
November 14, 2011 One family submitted necessary paperwork for a loan modification to Bank of America but was told it wouldn't qualify — until a letter arrived recently that admitted the bank had made a mistake. Regulators are now trying to address the problem on a large scale.
November 3, 2011 Nearly a quarter of U.S. homes with mortgages are underwater. But federal budget cuts have sharply reduced the supply of housing counselors who can help distressed homeowners in the nation's hardest hit communities. One Virginia city is demanding — with some success — that banks pick up the tab.
November 1, 2011 The government says Allied Home Mortgage was "reckless" with its lending practices and that cost the government $834 million in insurance claims.
October 25, 2011 The president's plan would help homeowners refinance with lower rates even if their homes are worth less than what they owe. This idea has been around for a while, and the economists who proposed it say it could work — if it's done on a larger scale. It depends on investor cooperation, they say.
October 24, 2011 President Obama is visiting Nevada, a state at the center of the foreclosure crisis. His administration has some programs in place to try to help struggling homeowners. But the leading GOP White House hopefuls so far haven't said much about how they would fix the downturn.
October 21, 2011 Foreigners could get a tourist visa if they spend $500,000 in cash on homes and live in the U.S. for at least half the year, under proposed legislation. Home sales are in decline, so Sens. Mike Lee and Chuck Schumer introduced the bill to attract wealthy people abroad to spend their money in the U.S.
October 17, 2011 Just as communities experienced the housing bubble differently, they feel varying degrees of recovery. In North Carolina, McMansions built for bankers are now in foreclosure. Rundown houses that once sold for $500,000 in East L.A. are now going for a fraction of that. And Washington, D.C., is again seeing bidding wars.
October 17, 2011 One reason for the continued gloom: It's too hard for many people to qualify for the low rates. But a new program the Obama administration is considering could help millions save an average of $2,000 a year through refinancing.