housing crisis

Treasury Tightens Up Terms of Fannie and Freddie Bailout Deal

The government is changing the terms of its bailout agreement with Fannie Mae and Freddie Mac in a way that will shrink the holdings of the two mortgage giants more quickly and will require payment to the government of all quarterly profits the companies earn.

No Bottom in Sight: Home Prices Set Post-Crisis Lows

Just when it looked like housing prices were bottoming out and now was the time to snap up the best bargains comes news that may make you want to wait. The latest S&P/Case-Shiller Home Price Indices show that real estate prices are continuing to descend.

Economists Assess Nation's Financial Fitness, Job Picture

Economists discussing the sluggish state of the economy at a media breakfast held by the New York State Society of Certified Public Accountants this week, offered up a variety of explanations for the lasting economic malaise, ranging from the housing crisis fallout to structural unemployment.

America's 10 Poorest Suburbs

Poverty has been rising even faster in the suburbs than it has in cities -- about five times faster, according to the Brookings Institute. To help understand this phenomenon, 24/7 Wall St. has analyzed the 10 metropolitan areas with the highest rates of poverty in their suburbs.

Top 5 U.S. Housing Markets in 2012

With the Standard & Poor's downgrades, the declining stock market, the flat employment figures and Europe's fiscal woes, you might not expect much optimism in the housing market just now. But a few major metropolitan areas should see price increases in the next year, according to Fiserv.

New Business for Big Banks: Slumlording

The nation's biggest bailed-out banks have unintentionally entered a new line of work: slumlording. In some cases, major banks have created whole neighborhoods of abandoned and deteriorating foreclosure properties -- and a blight on local municipalities.

Unemployed and Seeking Shelter from the Storm

The housing crisis continues unabated, and millions of unemployed Americans remain at risk of ending up homeless. But additional government help is arriving from the Obama administration, and nonprofit agencies are making a difference in the efforts of some families to get help from their lenders.

Financial Landscape: Dreary Polls and Tax Loopholes

Nearly 90% of Americans still see owning a home as a key part of the American Dream, but 39% see us in a permanent economic downturn. Meanwhile, Obama has set his sights on closing tax loopholes for businesses and the rich, but the Fed just cut banks a break in new rules on debit card swipe fees.

Why Foreclosures Could Be Set to Rise Again

Lender processing delays reduced the number of U.S. homes taken back by banks in the first three months of the year. But new data suggests foreclosure activity may be starting to creep higher, as lenders make progress tackling a backlog of pending foreclosure cases.

Recession Lingers On in Silicon Valley

Much has been made recently of the huge valuations of Internet players like Facebook, Twitter and Zynga, but while Web 2.0 is doing well, the Silicon Valley region itself is not. A new report shows compensation and unemployment in the region haven't improved since the downturn.

Housing's Long and Winding Road to Recovery

Home prices are falling again nearly nationwide, but the pace of sales is starting to pick up in recent months. Overall, it seems clear that the worst of the housing debacle has passed. It's just that the U.S. remains on a slow, grinding track back to housing health.

Q&A With a Defender of Florida's 'Rocket Docket' Foreclosures

Lee County, Florida has become infamous for speeding foreclosure cases through its courts. The super-charged system -- or "rocket docket" -- can dispense with a foreclosure case in minutes, sometimes mere seconds. DailyFinance spoke with the Lee County Clerk who says the "rocket docket" was his idea.

November Home Sales Take Small Step Forward

The U.S. housing sector remained in a slow, but uncertain recovery in November, as existing-home sales increased a less-than-expected 5.6% last month, to a 4.68-million-unit annual rate. Although home sales rose in every U.S. region, and inventories fell, strong job growth will be needed to increase the sales pace in 2011 and prevent tepid home prices from re-trenching in the quarters ahead.

Home Repossessions Dive Amid Foreclosure Freezes

The number of U.S. homes taken back by lenders dropped to the lowest level in 18 months in November, the result of foreclosure freezes enacted by several banks following allegations that evictions were handled improperly.

A Florida Housing Development Stalls, and the Cows Move In

Jerilee Wei never expected to be living next to a cow pasture when she bought her home in Lakeland, Fla., in 2007. In her upscale community, newly constructed houses were selling for between $300,000 and $425,000. Then one morning she woke up and found some cattle had moved in.