While the stock market may have cheered the Fed's recent rate cut, the Realtor community remains anything but enthusiastic, according to BusinessWeek's Hot Property--which is no surprise, considering mortgage interests rates have been on the rise since January while the housing market has continued to tank, both despite slash after slash on the part of the Fed. For that story and more, check out Big Builder's bi-weekly blog roundup.
While job cuts and the depressed dollar may have contributed to a year-over-year decline in one- and two-bedroom Manhattan rentals, studio prices are still on the rise, according to The Wall Street Journal.
While the Fed continues to address liquidity issues while ignoring solvency, a disturbing pattern of papering over a problem that fails to dissipate appears to be emerging, according to Seeking Alpha.
For the first time in recent memory--if not the first time ever--Broward County, Fla.'s population is on the decline, leading the Housing Bubble to posit that things will likely get worse before they improve.
Inman News reports on Connecticut MLS, which launched a public property search Web site this week, as well as the efforts of a National Association of Realtors advisory group to investigate the potential of a national information gateway for all property types with possible consumer access and of a California Association of Realtors group in pursuit of a statewide data-sharing initiative--or perhaps a true statewide MLS.
Dr. Housing Bubble draws on the Great Depression to show that the worst economic markets exhibit the fiercest single highs and lows--which makes the recent 420-point rally look a little less than welcoming.
Reggie Middleton's Boom Bust counters CNBC's talking heads who say housing prices need to stabilize in order to move forward with the assertion that housing prices need to regress to historical norms prior to stabilization in order for the market to correct itself.
The Rocky Mountain News reports that M.D.C.'s Richmond American Homes unit has won a court case involving delays in construction caused by asbestos in the soil at a former U.S. Air Force base in Colorado.