Another day. Another batch of dismal economic news. Another hit for the housing industry.
Not good. “Dec. 28 (Bloomberg) — Sales of new homes in the U.S. fell to a 12-year low in November, portending bigger declines in construction that will hobble economic growth throughout 2008. Purchases dropped 9 percent to [...]
Housing Defaults Take a New Turn
There’s news today of a new turn in the housing defaults mess. The L.A. Times reports, If you “thought the mortgage meltdown was just a sub-prime affair”… “Think again.” There’s another time bomb waiting to explode, experts say: risky loans made to people with good credit. So-called pay-option adjustable-rate mortgages, or option ARMs, were the easiest and [...]
Tags: Economy, Home Sales
0 responses so far ↓
There are no comments yet...Kick things off by filling out the form below.