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Home prices are down but have we reached bottom?
Here's a bit of bad news: US home prices had their biggest drop on record.
Let's look at the numbers.
The median home price fell 14% to $169,000.
Prices dropped in 134 of 152 metropolitan areas.
Distressed sales increased in 17 states as ...
Blackstone's GSO wants more fun with distressed investing
Early this year, The Blackstone Group LP (NYSE: BX) agreed to purchase GSO Capital Partners, a hedge fund that focuses on leveraged finance, for a cool $930 million. Stephen A. Schwarzman, Blackstone's CEO, said that the deal would create "one of the ...
Markets plunge on near-$100 oil, a record-low dollar, and billions in distressed debt
The New York Times reports that the Dow lost 360 points -- or 2.64% -- back to where it was before Ben Bernanke cut the Federal Funds Rate an unexpectedly large 50 basis points. My message to Bernanke is that cutting rates just to keep the market ...
Hopeful sign with mortgage applications bounce
Today's news from the Mortgage Bankers Association that mortgage applications jumped from an eight-year low could be a sign that we're starting to see a turnaround in the housing market. But don't get your hopes up too high if you're trying to sell ...
A new and improved home buyers tax credit?
As expected, the popular home buyers tax credit has been extended. In fact, it is even more attractive. OK, let's first look at the extension of the current program, which includes a maximum $8,000 credit for first-time home buyers (which is someone ...
Home Depot tops Q3 estimates, but bad news drags the stock lower
Also reporting earnings Tuesday morning was home-improvement retailer Home Depot (HD). The company announced that third-quarter earnings dropped 8.9% to 41 cents per share thanks to weak housing and home renovation markets. That was a nickel better ...
Senate seen extending a reduced first-time home buyer tax credit
Put this one under the the category of 'a half-loaf is better than none.' Senate leaders are apparently poised to extend the $8,000 federal tax credit for first-time home buyers, Bloomberg News reported Monday. However, the extension will not please ...
Nationwide home prices fall in 123 of 153 metro areas
The housing market is still mired in price declines during the third quarter. Prices declined in 80% of metro areas. Of the 153 metro areas surveyed, 123 still saw price declines, while 30 saw price increases. Overall, the national median price has ...
General Mills is an uptrend
As expected, food producer General Mills (NYSE: GIS) is benefiting from the U.S.'s 'frugal consumer' trend, hence I'm Reiterating my Buy rating for company, first recommended on April 8, 2009 at a price of $50.81. More U.S. consumers will continue ...
Fannie Mae will rent to owners in foreclosure
Fannie Mae (NYSE: FNM) has initiated a new Deed to Lease program in which homeowners facing foreclosure will be able to stay in their homes as renters.
During the first half of the year, Fannie Mae has acquired 57,000 homes through foreclosure. ...
Pimco opens distressed bond fund -- a sign of opportunity?
One good sign of a bottom is when the media is panicking and the shrewdest investors aren't afraid to be contrarians. We may reached the point in the subprime crisis. According to The Wall Street Journal, Pacific Investment Management Co. (Pimco) is ...
Home values could creep up next year
If you're worried about the value of your home, 2010 could bring a little bit of good news. The National Association of Realtors reported Friday that home prices could edge 4% higher next year. In 2009, home prices declined by 13%. The association's ...
Will the Scrooge bankers give their bonuses to the needy Bob Cratchits?
We have a human disaster of enormous proportions. We have 15 million persons unemployed. Thousands are on the brink of losing their homes. As of this December, 1.7 million unemployed will exhaust their benefits. They may be homeless at this holiday ...
U.S. housing starts fall sharply in October as inflation rises
The U.S. housing market continued to show weakness in the latest reading. Here are the Commerce Department's latest numbers:
Housing starts dropped 10.5% to 529,000 units. The expected number was 600,000.
Groundbreaking for single family ...
TJX: Back up the truck
If you haven't already and you can tolerate moderate risk, now's the time to purchase shares of The TJX Companies (TJX) and I'm reiterating my buy rating, first recommended on June 22, 2009 at a price of $21.48. If you bought TJX in June, you're up ...
Nuclear power is on the comeback trail
Apple backs AT&T in continuing spat with Verizon
Closing Bell: The recession is still over, still... do you feel it?
