Some Cities Are Spared the Slide in Housing
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The real estate market these days is a tale of two Americas, and one of them is not doing too badly.
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In August, for the first time since 1995, housing prices slipped a bit from the previous August.
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WASHINGTON, June 6  /PRNewswire/ -- Across America, historic cities are working hard to revitalize old buildings into real estate that contributes to both economic growth and adds to the city's unique charm and sense of community.
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Weakness in the U.S. housing market showed no signs of abating through the end of 2006 as sales slid in 40 states and prices dropped in metro regions with major price gains in recent years, a real estate trade association said on Thursday.
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Sales of previously owned homes inched up 0.4 percent  but that did not change the overall bleak picture for a housing industry that has been suffering through a painful slump.
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Real estate prices depend a lot on local conditions.
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Sales of previously owned homes nudged up in November, but that didn't improve the broader picture of a feeble housing market racked by record-high foreclosures and harder-to-get credit.
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LOS ANGELES  - The film industry might be tough to break into, but it's surprisingly egalitarian when it comes to houses.
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Across the country, local governments are feeling a financial strain driven largely by the nationâs real estate downturn and some are considering higher taxes.
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Land trusts encourage affordable urban housing, where surging prices have outpaced moderate incomes.
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Find out which cities have not yet bottomed out--and when prices are expected to bounce back.
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Some hubs of cheap retail are struggling, but not all of them.
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U.S. home construction fell last month for the first time since January as builders struggled with a glut of unsold homes, but permits for future building rose, offering mixed signals on the housing outlook.
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Growing numbers of people are being squeezed out of the housing market, researchers have concluded.
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Builders responded to new demands for houses built to accommodate their owner's technolust. They built lots of homes and packed them with every new gewgaw a potential buyer might dream of. And then they built some more. Now, thanks to the housing bust, virgin homes and condos sit unoccupied in cities like Las Vegas, Phoenix, Miami, and, yes, Orlando.
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Mortgage products aren't the problem. Borrowers are.
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The nation's housing industry is in a free fall from the subprime mortgage crisis. The budget of the Department of Housing and Urban Development could be facing big cuts. And the agency is still struggling to respond to a slew of natural disasters, including Hurricane Katrina.