Fitch Ratings cut a trio of home builders deeper into junk territory Monday, pointing to a dismal outlook for new housing activity as well as liquidity pressures at the struggling home builders.
More people are living with family members amid high unemployment rates and a slow economy, but while the phenomenon is keeping the poverty rate lower, it has wider negative economic consequences.
President Barack Obama’s prime-time address on jobs didn’t focus much on housing, but it would create a $15 billion fund to get construction workers to rehab vacant and foreclosed homes and businesses.
Historically low mortgage rates aren't enough to make up for a struggling economy as potential home buyers continue to sit on the sidelines. And those who already own a home aren't trying to refinance, either.
U.S. Rep. Gary Ackerman, D-N.Y., is planning to introduce "Homestead: Act 2," a bill designed to encourage homeownership by offering potential homeowners incentives to invest in existing homes.