Reverbiage: Stories from NPR tagged 'housing'

Legal Assistance For Poor Takes A Hit

Fri, 21 Nov 2008 13:00:00 EST

In Connecticut, Legal Aid offices are slashing their budgets and laying off staff at a time when demand for their services is increasing. Slowing housing sales and diminishing interest rates aren't helping.

Foreclosures Sales: Light At The End Of The Tunnel...

Tue, 18 Nov 2008 06:00:00 EST

Housing areas that saw a lot of foreclosures are starting to see more sales. In Sacramento and Riverside counties in California, sales have been up for the last six months. The same is true in Prince William County in Virginia. Some people are wondering whether these pockets of recovery are actually signaling a bottom to the housing downturn.

Affordable Housing Rises Out Of Foreclosure Crisis

Mon, 17 Nov 2008 06:00:00 EST

Lancaster, Calif., is a high desert community on the far outskirts of Los Angeles. Officials there are spending millions of dollars to fix up foreclosed properties and make them into affordable housing. The Department of Housing and Urban Development has announced $4 billion worth of grants to local development agencies to do the same thing.

Credit-Card Debt May Be Next Problem

Thu, 13 Nov 2008 16:27:00 EST

Some economists are concerned that the next hit to the economy may come from credit card defaults. USA Today economic reporter Kathy Chu talks about parallels between the housing bubble and the market for credit card debt.

'Greatest Generation' Struck By Mortgage Crisis

Fri, 07 Nov 2008 00:46:00 EST

The stagnant housing market has made many seniors who are in delicate health reluctant owners of second homes. Unable to live in their houses but unable to sell them, they live in limbo and worry.

Immigrant Confident Housing Market Will Come Back

Mon, 03 Nov 2008 06:00:00 EST

Emmanuel Njoku thought he was living the American dream. During the housing boom, the Nigerian immigrant built a portfolio of 16 properties in Prince Georges County, Md. Now his family has lost a $1.5 million home, and he faces foreclosure on half a dozen other properties. But he says he hasn't lost faith in the dream.

The Nightmare Before Closing: A Housing Horror Tale

Thu, 30 Oct 2008 13:00:00 EDT

Why should one be scared if they find a toilet in the sunroom? This is only one of the lessons a California couple learns when they try to become homeowners for the first time. A bank-owned property doesn't require a disclosure form, which makes it easy to miss the ghosts of a home's past.

Why Did Angola's Key Witness Go To The 'Dog Pen'...

Wed, 29 Oct 2008 03:04:00 EDT

The conviction of two Louisiana inmates for a correctional officer's death rests largely on the testimony of a single witness. For years people have been saying he never got any favors from the prison. But questions are being raised lately as to how he ended up in the best inmate housing, caring for bloodhounds rather than working in the fields.

For Some, Housing Crisis Stress Is Unbearable

Mon, 27 Oct 2008 03:01:00 EDT

It's only natural to worry as the value of homes and investments falls. But the financial crisis is hitting some people harder than others. In California, where the housing meltdown started early, some of the financial losses are turning into human tragedies.

Greenspan Admits Free Market Ideology Flawed

Fri, 24 Oct 2008 08:26:00 EDT

Former Federal Reserve Chairman Alan Greenspan told a House committee Thursday that the banking and housing crisis is a "once-in-a-century credit tsunami." When asked if his ideology pushed him to make bad decisions, Greenspan said he found a "flaw" in his governing ideology that has led him to reexamine his thinking.

McCain: Aministration Needs To Act On Foreclosures

Fri, 24 Oct 2008 06:19:00 EDT

Republican presidential nominee John McCain was in the battleground state of Florida Thursday. Florida has the nation's second highest foreclosure rate, so nearly every business connected with the housing market has suffered. McCain called on the administration to act now to buy toxic mortgages.

Greenspan Calls Financial Crisis A 'Credit Tsunami'

Thu, 23 Oct 2008 10:12:00 EDT

The current global financial crisis is a "once-in-a-century credit tsunami" that policymakers did not anticipate, former Federal Reserve Chairman Alan Greenspan told Congress on Thursday. Stabilizing the housing market is a key to ending the financial crisis, he said, but that is not likely to occur for "many months in the future."

Housing Market Drives Ireland's Economy Lower

Thu, 23 Oct 2008 06:00:00 EDT

Ireland's economy appears to be in recession. Part of the problem could be that housing prices have dropped dramatically. The hard times are hurting the Irish and migrants from Europe.

Southern Calif. Home Sales Up Dramatically

Tue, 21 Oct 2008 09:21:00 EDT

The housing crisis may be starting to turn around in at least one part of the country. Last month, home sales in Southern California jumped 65 percent from a year ago.

Housing Slump: A Chance To Jump Into The Market...

Tue, 21 Oct 2008 03:28:00 EDT

Many Americans are struggling as banks hold a tighter grip on their money, making it more difficult for consumers to get all kinds of loans. But for some, falling home prices and the vast number of homes in foreclosure represent an opportunity to invest.

Small Banks Not Immune From Housing Fallout

Wed, 15 Oct 2008 14:48:00 EDT

Unlike the biggest U.S. banks, with nationwide reach, smaller community and regional banks largely avoided making risky home loans. But their exposure to residential development and construction loans means they might still be hurt by the crisis.

McCain's Housing Plan Analyzed

Wed, 08 Oct 2008 16:36:00 EDT

At Tuesday night's presidential debate, Republican John McCain proposed that the government spend up to $300 billion to renegotiate mortgages on better terms for struggling homeowners.

Foreclosures Hit Rural America, But Quietly

Tue, 07 Oct 2008 01:15:00 EDT

U.S. policymakers trying to fix the nation's housing crisis may have a blindspot: rural America. A company relied on for foreclosure data says it doesn't report on 900 rural counties. Critics say the omission may foil attempts to help homeowners.

Washington Mutual Executive Predicted Collapse

Fri, 03 Oct 2008 15:45:00 EDT

William Longbrake served as chief financial officer for the failed savings and loan from 1982 until 2002. Longbrake says he started warning management about a housing bubble in 2003. Now, he says the government needs to act to stop irrational panic from making the situation worse.

Maybe The Housing Market Wasn't The Problem

Wed, 01 Oct 2008 13:00:00 EDT

Most economists and experts blame the housing market for jump-starting the current financial crisis. But borrowing from foreign nations may be the real root of America's problems, says Business Week chief economist Michael Mandel.

Las Vegas Hit Worst By Falling Home Prices

Tue, 30 Sep 2008 13:00:00 EDT

Home prices tumbled at the sharpest annual rate ever in July. The Standard and Poor's/Case-Schiller 20-city housing index released Tuesday fell a record 16.3 percent in July from a year ago. Las Vegas was worst-hit with prices plunging nearly 30 percent.

Will Bailout Help The Real Estate Market...

Mon, 22 Sep 2008 13:00:00 EDT

Two widely watched monthly reports on home sales are due out this week. Many are asking if the financial rescue package for Wall Street will help stabilize the housing market. Even with prices in freefall, many potential buyers are staying away.

Fannie Mae Raises Billions In Debt Offering

Thu, 11 Sep 2008 06:00:00 EDT

Fannie Mae was able to raise $7 billion Wednesday without having to pay a big premium. Analysts call this an indication that the federal government's decision to take over the troubled mortgage company has helped the housing market.

Understanding The Fannie/Freddie Takeover

Tue, 09 Sep 2008 14:31:00 EDT

The U.S. government has taken control of troubled housing finance giants Fannie Mae and Freddie Mac, and their top executives have been removed. Economics experts weigh in on what the bailout means for U.S. and Chinese investors.

Mortgage Rates Tumble On Fannie-Freddie News

Tue, 09 Sep 2008 07:49:00 EDT

Financial markets around the world reacted favorably to the U.S. government's plan to take over Fannie Mae and Freddie Mac. In the United States, the move sent interest rates down, raising hopes in the real estate industry that prospective buyers may be ready to enter the housing market.