The number of Americans who owe more on their mortgages than their homes are worth fell at the fastest pace on record in the third quarter as prices rose, a sign supply shortages may ease as more owners are able to sell.
Stuart Hoffman, chief economist at PNC Financial Services Group Inc. in Pittsburgh, Michelle Meyer, a senior U.S. economist at Bank of America Merrill Lynch in New York, and John Silvia, chief economist at Wells Fargo Securities LLC in Charlotte, North Carolina, said today’s employment report suggests a long period of labor market weakness lies ahead.
Michelle Meyer, senior U.S. economist at Bank of America Corp., says the rapid increase in mortgage rates has "changed the equation of affordability." Meyer talks with Bloomberg's Mark Mills on Bloomberg Radio's "Bloomberg - The First Word."
Tyl Pattisall’s timing couldn’t have been better. She and her husband bought a condominium in San Francisco three years ago when the market was depressed and sold it for a profit in June. Now she’s looking to buy again.
At Bank of America Corp. , where the company’s home-price forecasts have proved too good to be true, billions of dollars of new losses are at stake along with the credibility of Chief Executive Officer Brian T. Moynihan .
Michelle Meyer, senior U.S. economist at Merrill Lynch, discusses the outlook for housing and employment in the U.S. Meyer speaks with Bloomberg's Carol Massar and Michael McKee on "Bloomberg On the Economy."
Construction of multifamily units will lead the U.S. building industry again this year, allowing housing to contribute to growth for the first time in seven years, according to economists Michelle Meyer and Celia Chen.