Finance & Mortgage
Dismal Outlook on British House Prices Only Adds to Gloomy Economy
Commercial Real Estate Market Recovering Slowly
BBA Says UK Mortgage Approvals hit Record Lows in January
EDITOR'S PICKS
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Developers Apologize After Accidentially Demolishing House Where AC/DC Got Together
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US Housing Affordability Unlikely To Improve Until Prices Fall 40%, Wages Increase 70%: Expert
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Meghan Markle And Prince Harry's Montecito Mansion Now Valued At $29M
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US Housing Supply Hit Four-Year High - But Only Because Homes Are Failing To Find Buyers
The U.S. Federal reserve’s monetary policy has kicked off speculation among experts in the industry about an emerging asset and economic bubble in the country. However, Ben S. Bernanke, Chairman of the reserve has waved away all the concerns claiming that the policy has spurred construction jobs throughout the country and it would not be taking the policy down anytime soon. Saudi Arabian Mortgage Law Regulations Almost Complete
The Government of Saudi Arabia has finished working on three of the five mortgage laws that it had finalized to ease the shortage of housing in the country. Outlines of the three new regulations were posted Sunday, Feb 24, on the website of Saudi Arabian Monetary Agency (SAMA).The three outlined legislations include- Regulations of the real estate financial law, Regulations of the financial lease law and the regulations of the law on supervision of finance companies. Bay Area Man Charged with Foreclosure Rescue Scheme
A Northern California man has been accused of operating a foreclosure rescue scheme in which he exploited bankruptcy laws in order to delay home seizures by lenders, according to reports. Hong Kong Increasing Stamp Duties To Prevent Real Estate Bubble
To avoid a real estate bubble, Hong Kong is pressing for higher stamp duties to restrict home loans, reported Reuters. ING Group Selling $2 Billion in Mortgage Bonds from ING Australia Bank, Australia's Fifth Largest Mortgage Lender
ING Group, announced it may sell $2 billion in mortgage bonds from its Australian branch, reported Bloomberg. Bank of America, JP Morgan, Wells Fargo Hurrying Homeowner Aid After Mortgage Fraud Fiasco; Deadline Feb. 28
Five major banks involved in last year's mortgage fraud are generously completing their requirements in a government settlement and hastening to resolve aid to affected homeowners by the end of this month, reported Bloomberg. Fresno Seeing Commercial Real Estate Boost
The commercial real estate industry is looking better these days for Fresno, Calif., one of the state's largest cities. The first building since 2008 is being constructed and is expecting to bring dozens of well paying jobs with it, reported ABC30. Iron Chef, Michael Symon Lists SoHo Penthouse for $3.5 Million
Award winning American chef/restaurateur, Michael Symon has listed his Penthouse in the SoHo neighborhood of New York on the open market with an asking price of $3.5 million. He has also purchased another penthouse in the Gramercy Park area of New York for $2.7 million. Rise in Prices Leads Chinese Government to Curb Home Purchases
According to a survey conducted by the National Bureau of Statistics (NBS), average home prices in China rose the highest in January 2013, when compared to the figures of the same period in 2012. This is leading the Chinese regulators to tighten real estate speculations in the country. Otak Inc. Founder Othman launches New Real Estate Investment and Consulting Firm
Nawzad Othman, former CEO of global engineering firm, Otak Inc recently announced the launching of a new international real estate investment firm – The Othman Group on Wed, Feb 20, 2013 in Portland, Oregon in a press release. The new company will primarily aim at meeting needs of clients from the Middle East and the Pacific Northwest.
