Far-flung exurbs hard hit by housing downturn
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While the housing downturn has depressed once-thriving real estate markets around the nation, far-flung suburbs of major cities have suffered the most abrupt market correction.
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Not everyone has suffered from the current housing slump. Exceptions include entrepreneurs with deep experience in real estate and those who have carved out a special niche.
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Even with the downturn in the real estate market, houses in the Boston area will continue to be unaffordable for many working families and first-time homebuyers, according to a new report from Harvard University's Joint Center for Housing Studies.
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The US housing downturn may have serious financial repercussions, experts warn, hitting investment funds linked to sub-prime lending.
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A US construction boom in office towers, retail space, and warehouses contrasts the dormant housing market.
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More than a million homeowners could be at risk of serious financial difficulty in an economic slowdown, City regulator warns
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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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A record number of homeowners with high-cost mortgages have fallen behind on their payments or are facing foreclosure, a side effect of the growth in lending to people with poor credit, according to an industry group survey released yesterday.
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The beleaguered housing industry is sending mixed signals, with sales of new homes surging in April by the biggest amount in 14 years while prices endured a record plunge
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Real estate prices depend a lot on local conditions.
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Housing starts have been very high relative to the number of homes that builders are trying to sell.
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Distinctions between local economies are being overridden by a mortgage market that has made it more difficult for many would-be home-buyers to obtain financing.
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During the recent U.S. housing boom, mortgage lenders touted so-called exotic mortgages that allowed people to buy houses they could not otherwise afford. Now those lenders are bracing for the not-so-happy story of borrowers like Jesline Jean-Simon.
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There are signs that some high-end real estate developers are being hit by a slowdown.
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Finance leaders from the worldâs wealthiest nations warned Saturday that global economic woes could get worse from the slump in the American housing market.
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Sales of new homes plunged by a record amount in 2007 while prices posted the weakest showing in 16 years, demonstrating the troubles builders are facing with a huge backlog of unsold homes.
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Home prices have plunged by 10 percent or more in some parts of the United States and interest rates on mortgages are at enticing levels, but many potential buyers are waiting for prices to fall further.