Reuters - Former American International Group Inc executive Joseph Cassano is under investigation by U.S. prosecutors for possibly misleading auditors and investors about subprime mortgage-related losses, according to a Bloomberg report citing people familiar with the probe.
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AP - D.R. Horton Inc.’s chief executive said Tuesday he expects this fiscal year to be even more challenging than 2008, which ended with a nearly $800 million quarterly loss on slower home sales and more than $1 billion in charges.
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A Case-Shiller survey shows a 16.6% annual decline in the summer months as the housing picture continues to deteriorate.
NEW YORK (CNNMoney.com) — The home price plunge stayed on a record pace this summer, according to a widely watched gauge of national real-estate markets released Tuesday.
The S&P Case-Shiller Home Price national index recorded a 16.6% decline […]
AP - Mortgage lending in Britain has more than halved over the past year, according to the British Banker’s Association further evidence that the economic downturn is dramatically hurting the country’s property market.
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AP - Home repossessions in Britain jumped 12 percent to 11,300 in the third quarter from the previous quarter, the Council of Mortgage Lenders said Friday, more evidence that the financial crisis is taking its toll on households and the ailing housing market.
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Investor’s Business Daily - Existing-home sales fell more than expected in October, an industry group said Monday, as economic and credit woes kept many potential buyers on the sideline despite a record decline in prices.
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AP - Existing home sales in Southern states fell more than 10 percent in October compared to the same month a year ago, while the median sales price dropped nearly 6 percent to $161,000, the National Association of Realtors reported Monday.
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The outlook for the US housing market continues to darken with house prices tumbling by 11.3pc last month the biggest monthly fall since records began 40 years ago.
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