Last month, builders started new home construction at a pace of 954,000 homes. This was up by 12% over November’s pace. This is 37% higher than the pace from December a year ago. Economists were expecting a far lower number around 889,000.
More Money to Foreclosed Homeowners
Goldman Sachs and Morgan Stanley will pay a total of $557 million in cash and other assistance to troubled borrowers as a part of a deal to end a case-by-case review of past foreclosures. The lenders have agreed to pay $232 million to eligible borrowers and $325 million in loan modifications and foregiveness.
Home Prices Surging
Home prices have been rising for nine straight months, and gains are only getting larger according to CoreLogic. November’s prices were up 7.4% over November a year ago. This includes foreclosure and distressed properties, and is the largest year-over-year jump since 2006
Home Building Jumps by 12%
Last month, builders started new home construction at a pace of 954,000 homes. This was up by 12% over November’s pace. This is 37% higher than the pace from December a year ago. Economists were expecting a far lower number around 889,000.
More Money to Foreclosed Homeowners
Goldman Sachs and Morgan Stanley will pay a total of $557 million in cash and other assistance to troubled borrowers as a part of a deal to end a case-by-case review of past foreclosures. The lenders have agreed to pay $232 million to eligible borrowers and $325 million in loan modifications and foregiveness.
Home Prices Surging
Home prices have been rising for nine straight months, and gains are only getting larger according to CoreLogic. November’s prices were up 7.4% over November a year ago. This includes foreclosure and distressed properties, and is the largest year-over-year jump since 2006