Negative equity–what you have when you owe more on your home loan than the property is worth–is one of the defining features of the still-unfolding mortgage crisis. It’s a particularly nasty problem because it can lead to all sorts of unpleasant outcomes for the real estate market and the economy as a whole. Having negative […]
Category Archives: Real Estate
Where Homes Prices Are Rising
The drama is nearly over. After a decade of extremes—the ebullient highs of the real estate boom, then the devastating lows of the bust—calmer forces are beginning to prevail in the housing market. The big fall-off in home values, which has taken the median price of a house down almost 30% since 2006, looks to […]
10 Cities for Real Estate Steals
The real estate crisis has gutted house prices, tipped millions into foreclosure, and rattled the global economy to its core. But for many would-be home buyers, the historic boom and bust have been a blessing in disguise. During the first half of the previous decade, easy credit and speculative excitement worked to make houses increasingly […]
Credit Scores Can Drop After Getting Loan Help
Some homeowners who sign up for the government’s mortgage assistance program are getting a nasty surprise: Lower credit scores. For borrowers who are making their payments on time but are on the verge of default, the Obama administration’s loan modification program can reduce their credit score as much as 100 points. That makes it harder […]
Towns where land is still free in the U.S.
As small towns suffer from a continuing flight from rural toward-more urban living, some economic development groups and governments in these troubled areas have chosen to stay and fight. The Homestead Act of 1862 is no longer in effect, but free land is still available out there in the great wide open (often literally in […]
Mansions go modular as costs, timeline lure high-end buyer
One day in February, it was an empty, snow-covered lot in Bethesda. In 32 hours, the property held a six-bedroom, six-and-a-half-bath French country mansion with a walkout basement. The 7,200-square-footer that appeared in Greenwich Forest 14 days ago is not yet a finished house. But it sure looks like one, with its gleaming windows, four […]
Cities Weigh Chapter 9
Just days after becoming controller of financially strapped Harrisburg, Pa., in January, Daniel Miller began uttering an obscure term that baffled most people who had never heard it and chilled those who had: Chapter 9. The seldom-used part of U.S. bankruptcy law gives municipalities protection from creditors while developing a plan to pay off debts. […]
10 Extraordinary Islands
What is it about islands that makes them so intriguing? Whether it’s a tropical speck in the midst of a vast ocean, or a tree-shrouded hummock in the river of a great city, it’s still somehow set apart, unique, proud, lonely, even mysterious. The waters around it ineffably define it, in a way that no […]