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Tuesday Apr 28, 2009

Dubai home prices plummet

New research shows Dubai home prices plummeted during the first three months of the year.[Read More]

Tuesday Apr 21, 2009

It makes no sense to confine your investments to SA.

With relaxation of exchange controls, more foreign travel and greater availability of low-cost offshore mortgage finance more South Africans are looking at foreign property ownership, particularly in the UK.

 LONDON, UNITED KINGDOM (April 2009) – As South Africa cements its place in the global economy many property investors are questioning the wisdom of having all their real estate investments in one country. Smuts & Taylor, a South African investment firm based in London, have seen an overwhelming increase in new enquiries from SA investors since the start of the year 

[Read More]

Wednesday Apr 01, 2009

New Mauritius development geared to SA buyers


A new residential development on the west coast of Mauritius is specifically targeted at SA buyers who want to acquire holiday or permanent homes on the Indian Ocean island.

That’s the news from Kentish Moorghen, GM of the Chas Everitt Davyland office in the Mauritian capital of Port Louis, who says the development is already attracting strong interest even though it has yet to be officially launched.

“Indeed, SA demand for property on Mauritius has increased to such an extent in recent times that it now accounts for the majority of our overseas business,” he says.
[Read More]

Thursday Mar 12, 2009

Freddie Mac loses 50.1 billion dollars in year

WASHINGTON, March 11, 2009 (AFP) - Freddie Mac, the ailing US mortgage finance giant seized by the government, reported Wednesday a 2008 net loss of 50.1 billion dollars, bleeding nearly half of it the fourth quarter.

The company's 2008 net loss was more than 16 times larger than the 3.1 billion dollars of red ink for 2007.
[Read More]

Thursday Mar 05, 2009

US launches aid program to stem home foreclosures

WASHINGTON, March 4, 2009 (AFP) - The US government Wednesday launched a financial aid program to help distressed homeowners keep their homes, designed to stem a flood of foreclosures at the center of the country's recession.

 The Treasury Department unveiled guidelines for the "Making Home Affordable" program aimed at helping between seven and nine million eligible homeowners get modified home loans to ease their mortgage payments. 

[Read More]

Friday Feb 27, 2009

US new home sales slump to new record low

WASHINGTON, Feb 26, 2009 (AFP) - US new home sales dropped 10.2 percent in January from a month earlier to the lowest monthly level on record, the government said Thursday.

The Commerce Department said January sales of new one-family houses fell to a seasonally adjusted annual rate of 309,000, the lowest since data collection began in 1963.

 

[Read More]

Thursday Feb 26, 2009

US existing home sales fall 5.3 percent in January

WASHINGTON, Feb 25, 2009 (AFP) - US existing home sales fell 5.3 percent in January as potential buyers waited to see the impact of the government's economic stimulus package, a real estate industry group said Wednesday.

 The National Association of Realtors (NAR) said sales fell to a seasonally adjusted annualized rate of 4.49 million units, from a level of 4.74 million units in December, amid the severe and prolonged slump in the real estate sector.

 

 

[Read More]

Wednesday Feb 25, 2009

US home prices plunge a record 18.5 percent : survey

WASHINGTON, Feb 24, 2009 (AFP) - Home prices in top US cities fell a record 18.5 percent in December amid an unending home mortgage crisis at the epicenter of financial turmoil, fresh data showed Tuesday.

The Standard & Poor's/Case-Shiller survey showed a year-over-year decline of 18.5 percent in the 20 largest US metropolitan areas.
[Read More]

Friday Feb 20, 2009

Debate flares over Obama housing plan

WASHINGTON, Feb 19, 2009 (AFP) - President Barack Obama's new 275-billion-dollar mortgage plan will start working "very, very quickly," his top housing official said Thursday, after Republicans mounted attacks on the initiative.

A day after Obama unveiled the new strategy in Arizona, one of the states worst-hit by the housing crisis which helped trigger the recession, debate flared over whether it would work and help turn around the economy.
[Read More]

Thursday Feb 19, 2009

US federal housing plan aims at heart of financial crisis

WASHINGTON, Feb 18, 2009 (AFP) - A massive US government stabilization plan for the battered housing market unveiled Wednesday takes aim at the epicenter of the global financial crisis with hundreds of billions of dollars.

The initiative is designed to stem a rising flood of foreclosures and help between seven and nine million homeowners restructure or refinance their mortgages to avoid losing their homes, the Treasury Department said.

 

[Read More]

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