Obama’s Investigative Unit: Absolving Iniquities or Slowing Progress?

New York Attorney General Eric Schneiderman has reportedly been designated a co-chair of President Obama’s newly announced investigative team to probe the mortgage industry for past misconduct. In his State of the Union address this week, Obama announced the creation of “a special unit of federal prosecutors and leading state attorneys general” to examine the …

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More Californians able to afford homes

Lower home prices and interest rates led to an increase in home affordability in the third quarter, the CALIFORNIA ASSOCIATION OF REALTORS® reported. Making sense of the story: The percentage of California households that could afford to purchase a median-priced home of $292,120 rose to 52 percent in the third quarter, up from 51 percent …

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Home Affordability Returns to Pre-Bubble Levels

Home affordability returned to pre-bubble levels in a growing number of U.S. markets over the past year as price declines laid the groundwork for a housing recovery. Home values in the United States posted their largest quarterly decline since the first quarter of 2009, falling 2.6 percent as the temporary stimulus of the home buyer …

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Pending Sales of Existing Homes Rise 2%

The number of contracts signed for purchases of previously owned homes rose again in December, according to data released by the National Association of Realtors (NAR) Thursday. The trade group’s pending home sales index increased 2.0 percent compared to its November reading, which was revised downward. The index is based on contracts signed in December, …

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