American real-estate market hit by sharpest ever annual drop in prices

An end to the American housing recession, something that many observers regard as essential to ending the credit crunch, seemed little closer yesterday, with US real estate prices falling by the sharpest annual rate ever in July, though the monthly rate of decline is slowing. The Standard & Poor’s/Case-Shiller housing index fell by a record […]

Home foreclosures reach record high

By Julie Haviv NEW YORK (Reuters) – Home foreclosures and the rate of homes entering foreclosure rose to record highs in the second quarter, the Mortgage Bankers Association said on Friday. “The national foreclosure numbers continue to be driven by the hardest-hit states continuing to get much worse,” Jay Brinkmann, the association’s chief economist and […]