Breaking industry news.
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The market for land sales has suffered much like the rest of the economy. Prices have fallen by as much as 40 percent since peaking in 2007, land brokers and developers say. But the market seems to have stabilized and activity is picking up. Here’s what they’ve been experiencing in the Richmond, Va. market. Richmond Times Dispatch (Richmond, Va.)
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As baby boomers move out of their prime earning and spending years, Generation Y, which is even larger, is poised to take the boomers' place as market movers. Find out what researches are saying about this “echo boomer” group. UPI
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Nonresidential Building Construction Drops 1% in February
4/8/2010 – Although, the monthly drop in February was modest, downward revisions for the previous few months were larger. Spending dropped for nearly every type of project. The largest declines were for hotels and for manufacturing, largely oil and gas related. Most of the funds for buildings in the stimulus plan are yet to be spent. The amount of regular budget funds appropriated for public buildings is now shrinking rapidly as it always does at this stage of a building cycle. Although state tax receipts have just turned up after record deep decline, state......(read more)
| March Housing Starts 20 Percent Above 2009 Figures |
Privately-owned housing starts in March were at a seasonally adjusted annual rate of 626,000, 1.6 percent above the revised February estimate of 616,000 and 20.2 percent above the March 2009 rate of 521,000, according to data just released from the U.S. Census Bureau and the Department of Housing and Urban Development.
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A third of U.S. consumers in a recent survey indicated they believed nearby homes prices would rise in the next 12 months, Gallup researchers said Thursday.
(United Press International)
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A record number of U.S. homes were lost to foreclosure in the first three months of this year, a sign banks are starting to wade through the backlog of troubled home loans at a faster pace, according to a new report. (Associated Press/AP Online)
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| Foreclosure Rates At Record High |
The inventory of foreclosed homes in the U.S. hit a record in February, a sign that the real-estate crisis is lingering, according to data just released by Lender Processing Services.
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New Report Defines Sustainable Planning and Development
This report prepared by the Partnership for Sustainable Communities and available at no charge, gives practical information on and analysis of efforts to reduce greenhouse gas emissions by changing the way communities are planned and buildings are constructed. HousingZone.com
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A record 6,710 low- and moderate-income housing units were completed with the help of historic tax credits in fiscal 2009.
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Glide Economic Development Corp. and Tenderloin Neighborhood Development Corp. held a grand opening for the eight-story building at the edge of San Francisco’s Tenderloin neighborhood at the end of March.
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