Housing Slump Claims 2 More Victims
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Countrywide Financial and USG disappoint the Street, and their shares tumble.
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The prolonged slump in housing pushed new home construction in 2007 down by the largest amount in 27 years with the expectation that the downturn has further to go.
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Business & money: Figures show sharpest fall for almost two years as trouble in the US housing market starts to spread and weigh down on consumer spending.
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More than a million homeowners could be at risk of serious financial difficulty in an economic slowdown, City regulator warns
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The slumping housing industry, already hitting Americans hard in two areas - escalating adjustable-rate mortgages because of the credit crisis and decreased borrowing power due to declining home values - is now sending tremors through the automotive industry.
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The housing market plunged deeper into despair last month, with sales of new homes plummeting to their lowest level in more than 12 years.
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Hard-up house owners are ending up homeless after selling their homes to property companies.
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WASHINGTON - The message from Ben Bernanke and his Federal Reserve colleagues is clear: The housing slump will drag on well into next year as credit problems linger. What's not so apparent is how they'll deal with the crisis, although another interest rate cut could come this week.
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Many homeowners in the Orlando area suffered a double blow when hurricanes Charley and Frances struck in quick succession. Now, they&#39;re smarting from a financial one-two punch - two insurance deductibles.
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WASHINGTON -- Construction of new homes plunged by a bigger-than-expected amount in September, reflecting the deepening troubles in housing.
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New fallout from the U.S. housing  slump hit mortgage and real estate companies on Tuesday as  subprime lender NovaStar Financial Inc  and title  insurer First American Corp  announced job cuts and  NovaStar&#39;s auditor expressed doubt the company will survive.
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The serious slump in the housing market and home building may be near a bottom, according to a leading U.S. home builder.
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Is the housing slump really that bad? After all, the S&amp;P 500 last week fell more in a single day (3.5 percent) than home prices have fallen in the past year nationally (3.1 percent).
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Lennar, a leading home builder, said that it had a second-quarter loss as inventories of unsold homes rose.
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The latest data indicates that slowing home sales and the rising number of properties for sale is forcing more sellers to reduce prices in many locations across the country.
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WASHINGTON -- Sales of new homes fell in May for the fourth time in the past five months, providing further evidence of a continued slump in housing.
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A Commerce Department report offered no clear picture of whether the worst of the nationâs housing slump is over.