This Time, Housing Is Taking Department Stores Down With It
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Since April, when investors voiced optimism that the housing slide had been contained, shares of the countryâs biggest department store chains have fallen by about 30 percent.
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WASHINGTON -- Housing construction plunged in August, falling to the lowest level in more than three years as the industry showed further signs of a dramatic slowdown.
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As problems in the subprime mortgage industry sends ripples through the economy, shopping centers are being caught in the credit squeeze.
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American retailers have revealed further evidence that US shoppers are cutting back amid fears of a recession.
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Some hubs of cheap retail are struggling, but not all of them.
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The retailer's same-store sales decline.
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Record levels of debt and falling home prices may mean Americans will now spend less, save more.
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Housing starts fell to their lowest level in 12 years last month, while permits for new construction also declined, pointing to a further weakening of an already battered housing market.
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NEW YORK -- American shoppers took a breather last month as the worst housing recession in 16 years eroded demand for building materials, appliances, and furniture.
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With the housing market in decline, financial predators are finding yet another way to take advantage of people behind on their payments.
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Earnings season had unleashed yet another group of housing write-downs and losses.
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Mortgage and shopping blues combine to push stocks lower.
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Crumbling consumer confidence and slumping home sales could prove to be a bad combination for retailers, and for the broader economy going into the holiday shopping season
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The number of new mortgages being approved for home buying fell again in November.
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The anemic U.S. housing market has  hurt various industries from makers of air conditioners to  earth movers, with several manufacturers reporting their top  lines have been bruised by the slowdown.
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The number of housing units on which builders began work plunged 13.1 percent in November from the previous month, the biggest monthly drop in nearly 11 years, according to the Commerce Department.
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New signs of weakness in the housing market prompted investors to look past a rebound in major retailersâ sales figures.