News & Moves: February 24, 2009

Updates on industry news and nationwide markets

February 15, 2009

Home Builders Protest Bailout

— Union-Tribune

Home builders protested the bailout in downtown San Diego, saying they've been left out.


 

Former Fannie Exec: Housing Solutions from Depression Era More Successful

— New York Times

Edward J. Pinto, former chief credit officer for Fannie Mae, says housing solutions from the '30s are superior to the ones now.


 

Wall Homes Files for Bankruptcy

— Bloomberg

The housing industry took its toll on Arlington, Texas-based Wall Homes. The home building company filed for bankrupty protection mid-January.


 

Local Zips in the Top 20 Worst Housing Markets

— KVVU-TV

Five local zip codes in Nevada are hard-hit by the housing downtown and are all in the Top 20 worst markets.


 

Lending Issues Halt Dallas-Fort Worth Construction

— Dallas News

Home builders in the Dallas-Fort Worth, Texas, area are trying to resolve lending issues to complete the homes partially built after suspending operations.


 

Property Values Dropped $3 Trillion in 2008

— Bloomberg TV

Watch the interview with National Association of Realtors' Lawrence Yun regarding the $3 trillion lost in property values in 2008.


 

Centex Homes Walks Away from Indiantown Project

— The Palm Beach Post

Centex sells parcels of Indiantown, Fla., to citrus grower to generate cash and minimize land-related spending.


 

Analyst Predicts Failure for Hovnanian

— Bloomberg

An analyst believes a miracle is needed to save Hovnanian, but company say they are confused and show positive numbers in their reports.


 

New Housing Starts Hit 50 Year Low

— Money Morning

New housing starts fell in December to the lowest levels since the government started compiling statistics in 1959.


 

Toll Offers 3.99% Interest Rate

— CNBC

Is lower interest rates the answer to housing crisis? Toll Brothers thinks so — the company'se offering a 3.99 percent interest rate to those who qualify.


 

Things to Get Worse Before Better

— Bloomberg TV

There is hope ahead, but the worst of it is still to come. Watch as Diane Swonk from Mesirow Financial discusses the future.


 

Private Equity Firm Gambled and Lost

— Star Telegram

Private Equity firm partnered with Wall Homes and agreed to provide $50 million in financing.


 

Taylor Morrison Closes Tampa, Fla., Office

— TampaBay.com

Taylor Morrison is merging its Tampa operations with its Sarasota office, closing the Tampa, Fla., divisional headquarters. 


 

Ryland Group Partners with Oaktree Capital to Form LLC

— Building Online

Ryland Group partnered with Oaktree Capital to form a Limited Liability Company to acquire and develop real-estate projects.


 

Centex CEO: Housing Industry Turnaround Crucial First Step

— Dallas News

Timothy Eller, CEO of Dallas-based Centex Corp., believes that to save the economy, the home building industry must revive.


 

Most-Favored Rating Given to Home Builder in the Worst Market

— Bloomberg TV

M.D.C. Holdings was given a most-favored rating even though they are based in some of the worst markets in the nation. 


 

Declines in Home Prices Steep

— CNNMoney.com

A new report from the Federal Housing Finance Agency reports the housing prices are going from bad to worse.


 

Freddie Mac Launches New Plan

— The Business Journal of Milwaukee

Freddie Mac launches a new plan that will keep more at-risk borrowers in their homes. The strategy involves employing third-party companies to service high-risk mortgages.


 

Housing Industry Charitable in 2008

— MSNBC

2008 was a bad year for the housing industry, but home builders still felt charitable.

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