President Obama's latest probe into the mortgage meltdown will have more power than past efforts, and federal officials say it won't derail a possible $20 billion settlement for underwater and foreclosed homeowners.
Between slumping prices and low mortgage rates, it's a good time to look for real estate bargains. But thanks to tightened lending standards, legions of young would-be homebuyers aren't exactly in a position to take advantage of the opportunity. That's where their parents come in: One in three first-time buyers received either a gift or a loan from their families to help buy a home in 2011, according to the National Association of Realtors.
Home prices posted a steep, month-over-month drop in November, falling 1.3%, according to the latest S&P/Case-Shiller 20-city report. Prices fell in 19 of the 20 cities the index covers.
Office rents in Beijing have soared over the past two years, making it more expensive to lease prime work space in China’s capital than in New York, according to an industry survey. The FT reports.
Attorneys general from more than 40 states have signed on to a proposed settlement agreement with five of the nation's largest mortgage servicers over “robo-signing” foreclosure processing abuses, according to the lead negotiator, Iowa Attorney General Tom Miller.
Banks must provide loans to first-home buyers, the People's Bank of China (PBOC) said in a statement on Tuesday, the first clear call to support mortgage lending since starting a policy tightening cycle to calm the property market two years ago.
Developer Robert Congel's drive to create one of the largest malls in the country, in Syracuse, N.Y., is back in gear after almost being upended by the economic downturn and a nasty court battle with Citigroup.
Owners Laurent and Monica Imbert were drawn to their 2,400-square-foot loft in an old apothecary building because of its interior design and its TriBeCa address.
More than 10 years after the last steelmaking operations were closed down at the Bethlehem Steel Corp. plant in Pennsylvania, its 1,800-acre site is slowly attracting new businesses.
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