House prices continue to fall nationwide, but here and there they’ve begun to turn up as Americans return to the housing market. Which 10 metropolitan areas have seen the biggest increase in the past year? The winners, according to the National Association of Realtors (NAR), include a state capital, a furniture-making center, and a resort that was once America’s foreclosure capital. Can you guess who they are?
Morgan Stanley lawsuit over mortgage securities with the Federal Housing Finance Agency was settled for $1.25 billion, the company said Tuesday. The Morgan Stanley lawsuit was part of a larger one in which the government sued 18 financial firms for selling mortgage securities that turned toxic when the housing market collapsed.
Nationally, home prices increased 0.65 percent in June and 7.48 percent above the level seen in June 2012.
With both interest rates and prices so low, this could be the ideal time to redesign the tax subsidy for home ownership, Gleckman writes. That goes against many who say that the housing market remains so shaky that ending the deduction would send home prices back into a tailspin.
Home prices increased 0.2 percent since June, according to the latest house price index from the Federal Housing Finance Agency. Home prices rose 3.90 percent above the level seen in July 2011.
Rising home values and declining foreclosure rates indicate a slow but steady recovery for the US housing market. Obstacles remain, however, including negative equity due to 'underwater' mortgages.