John Sim News
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Transportation consultant Fehr & Peers, studying the commuting habits of California residents last year, got 300 responses from 5,300 postcard surveys sent by mail. Using cellular signals over the same period, Fehr was able to track travel patterns for 76,500 handset users.
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The International Monetary Fund and the European Commission will send a mission to Latvia today to begin work on a country review as part of its bailout 7.5 billion-euro ($10.7 billion) loan.
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The rally in U.S. home-loan securities without government backing is accelerating as investors wager the housing bust is over and supply is sopped up by bond dealers emboldened by new capital rules.
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Maggie Medved was stuck with her Phoenix house for two years after the market crash wiped out the equity in the property. Last year, as prices in the area rose by the most in the U.S., she and her partner were finally able to sell the 3-bedroom 1950’s style home and move to a larger place.
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Ben S. Bernanke’s efforts to revive housing are making real estate bulls even more bullish.
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Bank of America Corp. ’s plan to sell the insurance unit it acquired with Countrywide Financial Corp. may result in it liquidating properties faster after homeowners stop paying on debt underlying mortgage bonds, according to Amherst Securities Group analyst Laurie Goodman .
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Stockton, California, has the highest U.S. foreclosure rate. It also has a housing shortage.
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A U.S. government proposal forcing bond issuers or lenders to keep stakes in securitized loans contains a provision that may be a “deal killer” for home-loan bonds and shut down the market for commercial-mortgage securities, according to JPMorgan Chase & Co. analysts.
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New delinquencies on reworked mortgages held by bonds without government backing jumped in September, a sign that some of the fuel for housing’s recovery isn’t sustainable, according to JPMorgan Chase & Co.
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Mortgage revenue at the four largest U.S. lenders is surpassing the costs of faulty home loans and foreclosures from the housing boom as Federal Reserve and government policies help fuel the recovery.
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