There's good reason to be both optimistic and cautious as we ring in the New Year. Four economic indicators, eight opinions: Are you a bull or a bear?
Low or no wage increases coupled with rising taxation and inflation mean most people’s purchasing power is set to suffer the biggest squeeze since the 1870s, a leading economist claims.
Victoria Pauli signed a one-year lease last week to stay in her rental home in Fair Oaks, California. She had considered buying in the area, where property prices have slumped 57 percent since a 2005 peak.
As federal regulators clamp down on foreclosure procedures at the big banks, and the government sets new lender requirements for risk retention in residential mortgages, the cry from the industry is that this will only hamper the housing recovery and price more borrowers out of home ownership.
U.S. homeowners may need to look elsewhere for long-term investment returns as housing prices in some areas may not rebound long-term, Bank of America Corp Chief Executive Officer Brian Moynihan said on Tuesday.
"However, with the single family home sales market still on the ropes, and with deflationary expectations for home prices for at least the coming year, few of these newly hired young workers have the appetite to commit to buying a home."
Bank of America (BAC: 13.37 0.00%) will begin a new pilot program in the next few weeks, allowing some California homeowners to receive a principal writedown on their mortgage.
The average American family's household net worth declined 23% between 2007 and 2009, the Federal Reserve said Thursday.
The housing market, to put it mildly, still stinks. But have homebuilder stocks finally hit bottom?
Just when housing experts thought the industry couldn’t get any worse, it did.