- Wherever houses are haunted by misfortune, Teru Oshima wants to h...
- David Simon's plan to build a retail real-estate empire in Europe...
- Rents for residential units are rising amid sluggish demand for o...
- Blackstone Group is preparing to sell its La Quinta hotel chain, ...
- China's central bank said it would strengthen its monitoring of d...
- A Montessori school that made its home in a 50-foot-wide stone pa...
Real Estate News - November 2007
The following news stories are those which are most important for understanding the house price crash and the impact on house prices going forward...
More Americans Losing Their Homes; US Foreclosure Filings Nearly Double From a Year Ago
Bloomberg: Europe's Inflation Rate Soars, Putting ECB in a Bind
The residential mortgage backed securities (RMBS) market remains closed
Telegraph: ECB rate cut pleas grow as Euribor goes mad
House prices suffer sharpest fall since 1995
Home prices falling at record pace in third quarter
Builders slash prices to boost October sales. September's new-home sales revised from small gain to an 11-year low
U.K. lenders rally after reassuring over funding. Alliance & Leicester, Bradford & Bingley continue to raise financing
Florida freezes $15 billion fund as subprime crisis hits. $10 billion pulled from state's local-government fund in recent weeks
Mervyn King in stark housing warning as prices slide. As Nationwide records the largest monthly price fall in 12 years, the Bank Governor says first signs of credit crunch contagion will be in property
New fears for UK housing in credit collapse
Bloomberg: S&P May Cut Six CDO Credit Ratings in Europe on Subprime Losses
Citigroup’s Abu Dhabi deal is 'desperate'
Land Registry data for October are out: "London experienced the largest negative price movement this month with a change of -0.6 per cent"
ECB to pump €30bn into money markets
Trouble looms for a third of mortgages
Bloomberg: European Money-Supply Growth Accelerated in October
Freddie Mac in $6bn share issue
Home Prices in U.S. Fell Record 4.5% in Third Quarter
Bank of England warns credit crisis to worsen
Hedge fund’s 1000% subprime return
City bets on 7% fall in house prices
Virgin Group named preferred Northern Rock bidder
How NovaStar held clues to mortgage mess. Insurer PMI was claiming mortgage fraud years ago
E-Trade's sale may hint on mortgage portfolio, report says
HSBC to provide $35 billion in funding to SIVs. Citigroup reportedly under pressure to move securities onto its balance sheet
UK lenders retighten rules for new flats
BANK OF IRELAND MORTGAGES PULLS SUB-PRIME RANGE TODAY
Financial News: M&G imposes three-month wait on redemptions
Firstrung: Mortgage approvals crash by 40% year on year
Fed, Economists Have Trouble Spotting When Recessions Start
Kensington Mortgages is pulling out of the sub-prime mortgage market because of current market conditions!
Beleaguered Northern Rock is facing the humiliating prospect of being relegated from the FTSE 100 straight to the Smallcap index. Such a dramatic decline has not been seen since the dotcom bust. Sub-prime worries affected other lenders and homebuilders, and derivatives are now pricing in a 7% fall in house prices next year.
Bloomberg: Europe Suspends Mortgage Bond Trading Between Banks
The Wall Street Journal: Mortgage Giant Fuels Worries With Steep Loss
Home Construction Climbs, But Building Permits Decline
Freddie Mac's Woes Come As Dems Try To Expand Lender
Bloomberg: Bradford & Bingley Sells $8.7 Billion Loan Portfolios
Times: Paragons future in doubt
Times: Barratt sees sharp fall in sales of private homes
Britain’s biggest chain of estate agents, Countrywide, is to close down branches after being hit by a spate of cancelled sales amid the gloomiest outlook for the housing market since the early 1990s
Bloomberg: Goldman Sees Subprime Cutting $2 Trillion in Lending
Firstrung: Lenders mortgage rates not influenced by MPC rates anymore
Bloomberg: MBIA, Ambac Downgrades May Cost Market $200 Billion
'Prime' borrowers hit by Standard Life rate rise
Weak data, BoE send pound to 4-1/2 yr low vs euro
Times Online: Barclays discloses £1.3bn credit crunch hit
MoneyWeek: Why cutting interest rates won't save the housing market
Bloomberg: Bear Stearns Cuts Subprime Assets, Limits Writedown
Bloomberg: Bank of England Signals Need for Rate Cut in 2008
HSBC, Europe's biggest bank revealed this morning that it had suffered $3.4 billion (£1.6 billion) in bad debts linked to the sub-prime lending crisis in the third quarter
Reuters: Bank of America sees $3 billion debt write-down
Bovis Homes: Own 100% of your property for just 75% of the price upfront
Deutsche Bank Foreclosures Tossed Out of Ohio Federal Court - “They Own Nothing!”
Firstrung: Mortgage lending for house purchase falls over 20% in a month - CML
ONS: Petrol drives up inflation
BBC: Jump in UK factory gate inflation
The Daily Telegraph: Rule change sounds alarm on Wall Street
Herald: Credit crunch begins to hit home as rising numbers turned down for cards and mortgages
BBC News: Morgan Stanley takes $3.7bn hit
BBC: UK rates stay unchanged at 5.75%
The average UK price of unleaded petrol has passed £1 per litre for the first time
FT.com: Dollar Sinks to new lows
Times: George Soros warns of 'serious' US correction
Property Week: "values have fallen 10% since July"
Nymag.com: The Catastrophist View
Times: Bovis forecasts fall in house prices
BBC News: Supermodel 'rejects dollar pay'
Firstrung: Computer says no to over 3 million credit card applications
Telegraph - Front Page: Citigroup boss quits as sub-prime crisis grows
The Market Oracle: Buy Or Rent A House in the UK - Five Scenarios of Gains or Losses's over the Next Five Years
Bloomberg.com: Some BOJ Members Said Subprime Crisis Was Caused by Low Rates
Bloomberg: U.S. Home Foreclosures Doubled in the Third Quarter
BBC: Bank 'loans Northern Rock £23bn'