News & Headlines
A directory of real estate links, outlining the most popular news and other articles as voted on by the BiggerPockets community.
Links from: bloomberg.com
Confidence Gains With Improvement in Job Data
Fewer Americans than forecast filed claims for jobless benefits last week and consumer confidence rose to the highest level in a year, pointing to gains in spending as job prospects brighten.
Ally’s ResCap Said to Seek Buyers for Prearranged Bankruptcy
Ally Financial Inc.’s mortgage unit is talking to buyout firms including Fortress Investment Group LLC and Cerberus Capital Management LP about selling itself through a pre-packaged bankruptcy, according to people with knowledge of the matter.
American Foreclosure Bottoms at Atlanta Tower Auction
The U.S. foreclosure crisis has risen to new heights.
Obama Promotes Homeowner Plan to Eliminate ’Drag’
President Barack Obama is asking Americans to press Congress to pass his new U.S. homeowner relief plan that includes a tax on financial companies that Republicans have already rejected.
BofA, JPMorgan Chase Sued by New York Over Mortgage Registry
Bank of America Corp., Wells Fargo & Co. and JPMorgan Chase & Co. were sued by New York Attorney General Eric Schneiderman over the use of a mortgage database that the state said led to improper foreclosures.
Payrolls Jump Casts Doubt on Fed Rate Pledge
The U.S. jobless rate unexpectedly fell in January to the lowest in three years as payrolls climbed more than forecast, casting doubt on the Federal Reserve’s plan to keep interest rates low until late 2014.
Employment in U.S. Probably Rose, Keeping Jobless Rate Stead
Employment grew by 140,000 after rising by 200,000 in December, according to the median forecast of 89 economists surveyed by Bloomberg News.
Bernanke Sees Improvement in Economy
Federal Reserve Chairman Ben S. Bernanke said the economy has shown signs of improvement while remaining vulnerable to shocks, and he called on lawmakers to reduce the long-term U.S. budget deficit.
Consumer Spending in U.S. Stalls as Americans Boost Savings
SFGate coverage of business and technology. Find breaking news, technology, real estate and financial news, stock market updates, interviews, columns and multimedia for the San Francisco Bay Area.
Banks Hoarding ECB Cash to Double Company Defaults
Corporate defaults may almost double in Europe as companies struggle to refinance debt and banks hoard cash borrowed from the European Central Bank or use it to buy government bonds.
Home Seizures May Jump 25% as U.S. Foreclosures Resume
Banks may seize more than 1 million U.S. homes this year after legal scrutiny of their foreclosure practices slowed actions against delinquent property owners in 2011, RealtyTrac Inc. said.
Ks to Purchase Existing U.S. Homes Hold Near 19-Month High
The number of Americans signing contracts to buy previously owned homes in December held near a 19-month high, showing the stabilization in the market that began in late 2011 will extend into the new year.
Fed: Benchmark Rate Will Stay Low Until ’14
Chairman Ben S. Bernanke said the Federal Reserve is considering additional asset purchases to boost growth after extending its pledge to keep interest rates low through at least late 2014.
Treasuries Off to Worst Start Since 2003
Treasuries are off to their worst start in nine years amid signs the U.S. economy is strengthening and Europe is moving closer to resolving its sovereign-debt crisis.
Obama’s Keystone Denial Prompts Canada to Look to China
President Barack Obama’s decision yesterday to reject a permit for TransCanada Corp.’s Keystone XL oil pipeline may prompt Canada to turn to China for oil exports.
Confidence Among U.S. Homebuilders Climbs
Confidence among U.S. homebuilders rose in January to the highest level in more than four years as sales and buyer traffic improved.
Fed Releases Format for Charts on Forecasts by FOMC
The Federal Reserve released blank templates showing the format of the central bank’s forecasts for the benchmark interest rate, which will be provided to the public for the first time on Jan. 25.
Four-Year Low in U.S. Jobless Claims
Claims for jobless benefits last week dropped to the lowest level in almost four years, pointing to an improvement in the U.S. job market that may help bolster spending in the new year.
World Bank Cuts Global Growth Outlook
The World Bank cut its global growth forecast by the most in three years, saying that a recession in the euro region threatens to exacerbate a slowdown in emerging markets such as India and Mexico.
Haley’s Picking Romney Shocks Tea Party
South Carolina Governor Nikki Haley is betting her future on Mitt Romney’s, exhausting the support that Tea Partyers once supplied her.
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