Median home prices fell in more than three-quarters of U.S. cities in the second quarter, the latest sign of the breadth of the housing market decline, according to new data Thursday.
Nevertheless, home sales rose in areas where the market is flooded with foreclosures, indicating that borrowers are taking advantage of steep discounts.
Nevada and California, battered [...]

Fannie Mae is making bold cutbacks that will send shock waves through the mortgage market, after posting a quarterly loss Friday that was three times larger than Wall Street expected.
To slow its financial decline, the mortgage finance giant slashed its dividend to 5 cents a share from 35 cents a share and said it will [...]

Beazer Homes USA Inc. on Friday posted a narrower loss in its fiscal third quarter as the builder slashed expenses in the face of a 42 percent drop in orders for new homes.
There was some positive news for home shoppers, however, as home prices continued to decline. The average price of a Beazer home declined [...]

Sylvester Stallone, Rocky or Rambo, bought a property worth $7.2-million. This big star is reported to have bought a luxurious property in Thousand Oaks. As it is reported by the LAtimes.com that He’s bought two parcels, one with a house on it for the moment, that will give him a good chunk of lakefront land [...]

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Mirvac is a leading integrated real estate group, listed on the ASX with more than $27.8 billion of activities under control across the real estate funds management and development spectrum. Established in 1972, Mirvac has more than [...]

British housebuilder Bovis Homes Group Plc said it has legally completed the sale of 851 homes for the six months ended 30 June 2008, as compared to 1,256 homes legally completed in the comparable period, a reduction of 32%. Within these totals, around 27% of homes legally completed were social and partnership homes as compared [...]

Modest near-term movement is expected in existing-home sales, with a recovery in sales seen during the second half of the year, according to the latest forecast by the National Association of Realtors.
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in May, fell 4.7 percent to 84.7 from an upwardly revised reading [...]

The Federal Reserve will issue new rules next week aimed at protecting future homebuyers from dubious lending practices, its most sweeping response to a housing crisis that has propelled foreclosures to record highs.
Fed Chairman Ben Bernanke spoke of the much-awaited rules in a broader speech Tuesday about the challenges confronting policymakers in trying to stabilize [...]

A measurement of pending home sales fell to the third-lowest reading on record in May as the housing market’s recovery continued to prove elusive.
The National Association of Realtors’ seasonally adjusted index of pending sales for existing homes fell 4.7 percent to 84.7 from an upwardly revised April reading of 88.9. The index was 14 percent [...]

Ashford Hospitality Trust, Inc. announced that it will provide an online audio simulcast of its presentation to the investment community at the Oppenheimer 8th Annual Consumer Growth Conference in Boston, July 8-10, 2008. The Company’s presentation will take place on Thursday, July 10, 2008, at 4:10 p.m. ET.
The live audio broadcast of Ashford Hospitality Trust’s [...]

Homebuilder Lennar Corp. said Thursday it managed to narrow its second-quarter loss, but CEO Stuart Miller gave a dour outlook for the industry, saying the housing market has yet to hit bottom and ruling out the prospects of a recovery this year.
“The housing market has continued to deteriorate throughout the first half of 2008. We [...]

A massive foreclosure rescue bill cleared a key Senate test Tuesday by an overwhelming margin, with Democrats and Republicans both eager to claim election-year credit for helping hard-pressed homeowners.
The mortgage aid plan would let the Federal Housing Administration back $300 billion in new, cheaper home loans for an estimated 400,000 distressed borrowers who otherwise would [...]