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Breaking News Thu, 21 Aug 2008

(photo: WN / Denise Yong)
Housing help
The News & Observer
America's housing market is in a painful bind. The bubble that inflated real estate prices in many states -- not so much in North Carolina, thank goodness -- has burst. Property typically has lost some value, or at least seen a sharp decline in the rate at which value was growing; broadly speaking, ...

(photo: WN / nilufer)
We need mortgage providers other than banks
The Times
| Sir, The credit crunch could have a serious impact in local communities across the country. Evaporating mortgage availability may place hard-fought regeneration in jeopardy unless rapid action is taken. With inter-bank lending at a standstill, we believe that there is a pragmatic need for the loca...
Land prices falling in prime locations
Asahi News
| While Tokyo's Ginza district and other blue-ribbon addresses keep getting pricier, a survey released Wednesday has found land values for many of Japan's prime urban locations are falling. | According to the Ministry of Land, Infrastructure, Transpo...
AP Executive Morning Briefing
The State
The Associated Press | The top business news from The Associated Press for the morning of Thursday, Aug. 21, 2008: | Fannie Mae, Freddie Mac shares plummet | NEW YORK (AP) - Investors are betting that time is running out for Fannie Mae and Freddie Ma...
Stock futures point to weaker Wall Street open
The Boston Globe
| LONDON (Reuters) - Stock futures pointed to a weaker Wall Street open on Thursday with growing concerns over the fate of U.S. mortgage firms and the health of the financial sector. By 5:40 a.m. EDT, S&P 500 futures and Nasdaq 100 futures lost h...
Fannie Mae opens satellite offices to sell foreclosures
Business Journal
> | Fannie Mae is rethinking how it will handle the tens of thousands of properties being repossessed as the real estate market continues to plummet. | To that end, it is opening two satellite offices, one in California and another in Fort Lauderdale...
Portrait of a migrant worker on Sheikh al Zayed road, center of Dubai, UAE, November 2007
WN / Guillaume Poulet-Mathis
Dubai to issue sweeping real estate law
The Times of India
|                 DUBAI: Dubai newspapers are reporting that the local government has issued a mortgage law aimed at regulating the cit...
Village Houses
WN / james
Existing home sales drop more than 20% in July
Austin American Statesman
| Central Texas home sales declined for the 13th consecutive month in July, and a record 10,913 homes were on the market. The picture could worsen for the next 18 months before a t...
House
Creative Commons / Ebyabe
House prices 'won't recover for eight years'
London Evening Standard
| The National Association of Estate Agents says members had an average of 192 househunters on their books during July - the lowest for five years | House prices in some parts of t...
Lone Star to buy IKB, the German subprime casualty
International Herald Tribune
| : Lone Star Funds, the Dallas-based private equity firm, has agreed to buy IKB Deutsche Industriebank after the German bank collapsed, becoming the country's first casualty of the subprime mortgage crisis. | Lone Star will acquire 90.8 percent of I...
New mortgage for first time buyers
Belfast Telegraph
| A local bank has joined forces with property developers to launch a new mortgage aimed at first time buyers, it was revealed last night. | Ulster Bank and local developers have produced a home loan, available next month, which will mean first time ...
Dallas' Lone Star Funds to buy IKB, German victim of US subprime mortgage crisis
Star Tribune
| FRANKFURT, Germany - German lender IKB Deutsche Industriebank AG, which has been badly hit by the U.S. subprime mortgage crisis, will be sold to U.S.-based private equity firm Lone Star Funds, the German company's biggest shareholder said Thursday....
Mortgage
House
(photo: Creative Commons / Ebyabe)
Mortgage lending in 2008 'to fall by a fifth' as housing market fails to rally
Belfast Telegraph
| A rumoured imminent rally in the housing market has failed to materialise, as the latest round of bleak housing market data confirms, despite attempts by estate agents to inject a positive note. | Mortgage lending will contract by almost 20 per cent this year, reflecting the market uncertainty, falling house prices, and rising arrears, market ana...
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