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Tuesday Feb 17, 2009

Mugabe buys $5 million home in Hong Kong

February 16, 2009 - LONDON, Feb 16 (Reuters) - Zimbabwean President Robert Mugabe has bought a 4 million pound ($5.6 million) home in Hong Kong, Britain's Sunday Times reported.

Citing unnamed sources in Zimbabwe, the newspaper identified an intermediary who it said had helped arranged the purchase of the three-storey property, in a walled and gated complex in an exclusive area of Hong Kong.
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Monday Feb 16, 2009

Major US banks, mortgage giants freeze foreclosures

WASHINGTON, Feb 13, 2009 (AFP) - Two US banks and top mortgage finance giants have imposed moratoriums on home foreclosures until a comprehensive government plan emerges to ease the mortgage crisis, officials said Friday.

The moves came following calls by lawmakers for such a reprieve and as the White House announced President Barack Obama would unveil the plan on Wednesday.
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Friday Feb 13, 2009


Australian authorities almost doubled Friday the number of houses destroyed in bushfires that killed at least 181 people in southeastern Victoria state, as the full extent of the damage became clear.

Emergency Services Commissioner Bruce Esplin said more than 1,800 homes were razed by the worst wildfires in the nation's history last weekend, far higher than the 1,069 reported just a day earlier.


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Wednesday Feb 11, 2009

US to commit 50 billion dlrs to check foreclosures

WASHINGTON, Feb 10, 2009 (AFP) - The United States will committ 50 billion dollars to prevent home mortgage foreclosures, the epicenter of global financial turmoil, under a financial stability plan unveiled Tuesday.

"Stemming foreclosures and restructuring troubled mortgages will help slow the downward spiral harming financial institutions and the real American economy," according to excerpts of the plan released by the US Treasury.


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Tuesday Feb 10, 2009

US home prices to hit bottom at year-end: study

WASHINGTON, Feb 9, 2009 (AFP) - The freefall in US housing prices that sparked a global economic crisis will ease by the end of 2009 but not before another leg down, resulting in a 36 percent slide, a study said Monday.

The report by Moody's said home prices in the 381 US metropolitan areas have already dropped an average of 25 percent, and will slide a further 11 percent before stabilizing.


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Thursday Feb 05, 2009

British house prices climb unexpectedly in January: survey

LONDON, Feb 5, 2009 (AFP) - British house prices rose unexpectedly in January from December, snapping a ten-month losing streak, but plunged at a record pace on an annual basis, home loans provider Halifax said Thursday.

Prices advanced 1.9 percent in January from the previous month, pushing up the average price of a house to 163,966 pounds (238,158 dollars, 185,082 euros), according to a survey from Halifax, which is part of British bank HBOS.


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Tuesday Feb 03, 2009

US property sector struggles as more jobs go

After holding fairly stable over the last year, the number of pending home sales (pre-registrations) in the US has recently declined in the face of job losses and an eroding economy, according to the National Association of Realtors (NAR).


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Wednesday Jan 28, 2009

US home price declines accelerate: survey

WASHINGTON, Jan 27, 2009 (AFP) - US home prices in top cities tumbled further in November, setting new records for declines, the Standard & Poor's/Case-Shiller survey showed Tuesday.


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Tuesday Jan 27, 2009

December home sales rise fails to erase dismal 2008

WASHINGTON, Jan 26, 2009 (AFP) - Existing US home sales rose unexpectedly in December amid plunging prices but the gain failed to prevent the worst year in more than a decade, an industry group said Monday.


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Monday Jan 26, 2009

UK house prices fall 1 pct in January - Hometrack

January 26, 2009 - LONDON, Jan 26 (Reuters) - British house prices fell by 1.0 percent in January and are 9.4 percent lower than a year earlier, property analysts Hometrack said on Monday in their monthly survey of estate agents.

"Purchasers remain few in number and cautious -- some agents have reported potential buyers extending rental contracts for another six months to sit out the current uncertainty," said Richard Donnell, Hometrack's director of research.

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