Real Estate | featured news

Proposed rules sparked by the financial industry meltdown could have the effect of shutting many lower-income buyers out of the mortgage market, critics say.

Real estate prices in China's capital city saw a sizeable correction last month. Is it a new trend?

The nation's largest mortgage companies are operating on the assumption that they will have to pay as much as $20 billion to resolve claims of widespread foreclosure abuse, an amount four times what they had originally proposed, the top federal official overseeing the discussions told state officials Monday, according to people who participated in the conversation.

Programs already plagued by delays and poor participation were not designed to fully address unemployment, now the primary cause of foreclosures.

Home prices have reached their lowest points since the housing bubble burst in 2006, driven down by foreclosures, a glut of unsold homes and the reluctance or inability of many to buy.

Crystal Cathedral Ministries, known for the towering Orange County megachurch where “Hour of Power” is taped, has agreed to sell its campus to a real estate investment group as part of a plan to emerge from bankruptcy.

Sales of homes in some stage of foreclosure declined in the first three months of the year, but they still accounted for 28 percent of all home sales.

New U.S. single-family home sales rose unexpectedly in April to notch their second straight month of gains and prices increased, according to a government report on Tuesday that offered some hope for the stagnant housing market.

A growing number of Americans can't afford a home or don't want to own one, a trend that's spawning a generation of renters and a rise in apartment construction.

With supply of timeshares exceeding demand, owners, unable to afford fees in a struggling economy, are forced to sell their vacation properties at rock-bottom prices.