RANCHO MIRAGE - If the nation’s economy is going to turn around, the real estate market will lead the way. That was part of the message Dr. Lawrence Yun had for more than 400 Desert realtors Tuesday.
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Entries from February 2009
Housing Market Will Lead Economic Turn Around, Says Leading Economist (KESQ Palm Springs)
February 11th, 2009 · Permalink
Mortgage applications tumble, U.S. trade gap shrinks (Reuters)
February 11th, 2009 · Permalink
Reuters - The U.S. trade deficit shrank 4 percent in December, as the global financial crisis cut U.S. imports and exports for the fifth straight month, while U.S. demand for mortgages tumbled nearly 25 percent last week as potential buyers held out for better terms.
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Toll Brothers 1Q home building revenue drops (AP)
February 11th, 2009 · Permalink
AP - Toll Brothers Inc. said Wednesday its preliminary revenue slipped 51 percent in the first quarter, failing to meet Wall Street expectations as the housing market downturn continued to weigh on the luxury homebuilder’s results.
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U.S. mortgage applications slump to 8-year low (Reuters)
February 11th, 2009 · Permalink
Reuters - Demand for U.S. mortgage applications tumbled nearly 25 percent last week, with requests for loans to buy homes sinking to an eight-year low, the Mortgage Bankers Association said on Wednesday, as potential buyers hold out for better terms and government help.
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RJ: Housing Market Relapses In January (FOX 5 Las Vegas)
February 10th, 2009 · Permalink
After showing improvement in December, the Las Vegas housing market relapsed in January with a drop in sales and prices, according to the Las Vegas Review-Journal.
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IBD’s Top 10 - Tuesday (Investor’s Business Daily)
February 10th, 2009 · Permalink
Investor’s Business Daily - 1 Treasury Sec’y Timothy Geithner released a highly anticipated bank rescue plan, but details were hazy. The gov’t aims to support private buys of bad bank assets — $500 bil worth, maybe more. A program to bolster consumer and business loans will be expanded fivefold to $1 tril. But the TALF […]
Obama turns on Wall Street (AFP)
February 10th, 2009 · Permalink
AFP - President Barack Obama accused Wall Street of seeking an “easy” way out of the financial mire Tuesday after the announcement of his new industry rescue plan sent stocks dipping sharply.
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U.S. offers $2 trillion bank plan but stocks slump (Reuters)
February 10th, 2009 · Permalink
Reuters - U.S. Treasury chief Timothy Geithner on Tuesday unveiled a new bank rescue plan that would put $2 trillion to work mopping up bad assets and restoring credit, but stock markets plunged on fears it would not work.
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