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Standard Pacific, Ryland Group to merge in $5.2B deal
Two major homebuilders, Standard Pacific and The Ryland Group, announced a merger agreement Sunday in a deal that would form a single company with what they say would be an equity market capitalization...
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Existing home sales jump 5.1% in May
Existing home sales bounced up at the highest pace in nearly six years in May, resuming improvement in the housing market after an unexpected decline in April. Sales rose 5.1% to a seasonally adjusted...
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Mortgage rates fall amid global uncertainty
Mortgage rates took a step back from year-high levels this week as uncertainty in world financial markets continues to rankle investors. According to mortgage giant Freddie Mac, the rate on a 30-year...
View ArticleExisting home sales surge, prices hit record
Existing homes were sold at the fastest pace in eight years last month and the median sales price reached an all-time record high, the National Association of Realtors said Wednesday. Sales increased...
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Critics pummel N.Y. economic development program
The criticism grew quickly as figures were released: The Start-Up NY program cost taxpayers $53 million in ads, and the program created 76 jobs. The initiative, heavily promoted in TV commercials,...
View ArticleHousing data, inflation and the Fed
Incoming fresh data this week on consumer inflation and housing will collide with the release of minutes of last month’s Federal Reserve meeting and perhaps offer clues as to whether the U.S. central...
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New-home sales come back, jump 5.4% in July
Americans stepped up their purchases of new homes in July, with sales surging in the Northeast. The Commerce Department says new-home sales rose 5.4% last month to a seasonally adjusted annual rate of...
View ArticleNew York OKs $15 minimum wage for fast-food workers
New York state will gradually raise the minimum wage for fast-food workers to $15 an hour — the first time any state has set the minimum that high. Gov. Andrew Cuomo’s administration formally approved...
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China issues blueprint for state industry overhaul
China’s Communist Party has issued a long-awaited blueprint for overhauling bloated state industries even as it aims to retain the party’s dominance in the economy. The plan comes at a time when the...
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Housing starts slump 3% in August; weekly jobless claims fall
Builders broke ground on fewer houses and apartment complexes in August, a possible sign that the housing market may be leveling off after accelerating for much of the year. Housing starts last month...
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Home prices in July rose 5% from a year ago
U.S. home prices rose at a solid pace in July, as would-be buyers competed for a diminished supply of available housing. The Standard & Poor’s/Case-Shiller 20-city home price index climbed 5% in...
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Apartments drive home construction gains in September
Construction companies built more apartment complexes in September, sparking a temporary rise in housing starts for a real estate market that otherwise appears to have crested during the summer....
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Marriott International to buy Starwood Hotels for $12.2B
Marriott International (MAR) has agreed to buy Starwood Hotels and Resorts in a $12.2 billion deal that will make it the largest hotel chain in the world. The boards of directors of both companies have...
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Housing starts plunge 11% in October on fewer apartment buildings
Apartment construction plunged sharply in October, as the pace of homebuilding slipped amid a broader cooling of the real estate market. Housing starts — both houses and apartments— fell last month 11%...
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New housing construction starts rise in November
More new homes were built in November, fueled by a job market recovery and steady consumer confidence. New U.S. home construction starts in November rose 16.5% from a year ago to a seasonally adjusted...
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Housing, consumer spending, GDP on tap
The Federal Reserve’s first interest-rate hike in almost a decade is history after it finally pulled the trigger last week. Now, on to obsessing about when the central bank will raise rates again. With...
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New-home sales rose in November after weak October
Americans appear less inclined to buy new homes as the year ends. Sales improved in November only because fewer people bought new homes in October than initially reported. The Commerce Department says...
View ArticlePlayboy Mansion on sale for $200 million, but Hef stays
You can live with Playboy patriarch Hugh Hefner for $200 million. The Playboy Mansion, situated on five acres in Los Angeles’ Holmby Hills, hit the market Monday for $200 million. With a catch. Hefner,...
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Housing market remains on track: Home builder confidence steady in Jan.
Confidence among U.S. home builders held steady in January even though builders’ expectations about future sales dipped slightly. The National Association of Home Builders/Wells Fargo builder sentiment...
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New-home sales tumble in January on big decline in West
Americans stepped back from buying new homes in January, as purchases plunged sharply in western states where prices are typically higher. The Commerce Department said Wednesday that new-home sales...
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