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Builder Magazine: Latest News

State slashes aid for struggling homeowners
Nov. 20--HYANNIS -- For Cape Cod families on the edge of homelessness, the holiday season just got harder.
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Attorney general moves to halt housing scheme
Nov. 20--RALEIGH -- An elaborate scheme deceived consumers in Catawba, Burke and Caldwell counties into buying overpriced manufactured homes and agreeing to loans they couldn't afford, Attorney General Roy Cooper says in a lawsuit filed this week.
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Crescent Resources CEO: 'Positive' But 'Inconsistent' Signs in Real Estate Market
Nov. 20--The chief executive officer of Crescent Resources sees "positive" but "inconsistent" signs about the real estate industry's health and said his company remains on schedule to emerge from bankruptcy protection in the first quarter of next year.
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Three Companies Charged With Deceiving Customers With Overpriced Manufactured Homes
Nov. 20--Two state agencies have accused three companies with ties to the Triad of "an elaborate scheme" to deceive consumers into buying overpriced manufactured homes.
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Las Vegas home prices stabilize as threat of foreclosure flood wanes
Nov. 19--Things aren't as bad as they could be in the Las Vegas housing market, which is a piece of positive news to take into the end of one of the worst years on record.
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Area home sales show gain in October
Nov. 19--Sales of new and existing homes rose across the Sacramento region in October to their highest tally since July as buyers rushed in before an $8,0000 tax credit -- now extended -- was expected to end.
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Arizona senators vote to start over on loan issue
PHOENIX - Arizona legislators want to start from scratch on possibly revising a law protecting homeowners from post-foreclosure lawsuits.
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First-time homebuyers boost housing market
Nov. 20--Kansans have used the $8,000 first-time homebuyer tax credit at a comparable rate with surrounding states, according to a national study prepared for Congress.
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Real estate stagnation likely to persist 18 months, exec says
Nov. 19--The real estate industry in Las Vegas has another 18 months of stagnation before things start to turn around, a former Hughes Corp. executive said Wednesday at The Orleans.
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Foreclosures hitting more people with prime loans
WASHINGTON - A rising proportion of fixed-rate home loans made to people with good credit are sinking into foreclosure, adding to concerns about the strength of the economic recovery.
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D.R. Horton fiscal 4th-quarter loss narrows
FORT WORTH, Texas - D.R. Horton Inc. said Friday its loss in its fiscal fourth quarter narrowed despite a plunge in revenue as the homebuilder wrote down fewer costs.
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Home Front: Door closed on California tax credit for new homes this year
Nov. 20--Say goodbye, finally, to hopes of extending that $10,000 tax credit for buyers of new unoccupied homes in California.
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Apartment rebound not likely before '11
Nov. 20--The North Texas apartment market won't bounce back until early 2011, analysts predict.
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New fed housing program involves $29B in financing
WASHINGTON - A new federal program to support state and local housing finance agencies is expected to involve more than $29 billion in government support, Fannie Mae and Freddie Mac disclosed Thursday.
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Rates on 30-year mortgages remain below 5 percent
McLEAN, Va. - Rates on 30-year mortgages stayed below 5 percent this week but remained above the record set earlier this year, Freddie Mac said Thursday.
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Lennar’s Massive Shipyard Redevelopment Project Moves Forward
Vertical construction for the first phase should begin in the spring, and the builder has completed its environmental impact survey for phase two.
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IndyMac execs slapped with lawsuit
Nov. 19--PASADENA -- An ex-trustee of IndyMac Bancorp has sued the bank's former CEO and directors of its board, claiming they recklessly mismanaged it even when they had chances to save the Pasadena-based outfit from one of the largest bank failures in U.S. history.
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Prices inched up in October
Nov. 19--The light at the end of the recessionary tunnel flickered yesterday as a Commerce Department report showed housing starts fell in October and the Labor Department said consumer prices rose slightly more than anticipated during the month.
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Sector Snap: Homebuilders follow Pulte higher
NEW YORK - Shares of most homebuilders were mixed in Wednesday trading after two reports gave weak readings on the current housing market.
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Weak home building a drag on economic recovery
WASHINGTON - The budding economic recovery isn't getting much help from the home-building industry, which normally creates jobs and drives growth when a recession ends.
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