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1968: As part of the Housing and Urban Development Act of 1968, the Government mortgage-related agency, Federal National Mortgage Association (Fannie Mae) is converted from a federal government entity to a stand-alone government sponsored enterprise (GSE) which purchases and securitizes mortgages to facilitate liquidity in the primary mortgage market.
In many regions a real estate bubble, it was the impetus for the subprime mortgage crisis. Housing prices peaked in early 2006, started to decline in 2006 and 2007, and reached new lows in 2011. [3] On December 30, 2008, the Case–Shiller home price index reported the largest price drop in its history. [4]
Real estate bubbles are invariably followed by severe price decreases (also known as a house price crash) that can result in many owners holding mortgages that exceed the value of their homes. [ 32 ] 11.1 million residential properties, or 23.1% of all U.S. homes, were in negative equity at December 31, 2010. [ 33 ]
House in Salinas, California under foreclosure, following the bursting of the U.S. real estate bubble. The 30-year mortgage rates increased by more than a half a percentage point to 6.74 percent during May–June 2007, [78] affecting borrowers with the best credit just as a crackdown in subprime lending standards limits the pool of qualified ...
The commercial real estate collapse has been most evident in the office sector, with vacancy rates at nearly 1.5 times the amount than at the end of 2019, according to a report by real estate firm ...
Here's a look back at 2012's major developments in residential real estate -- along with insight on what lies ahead for the housing market in 2013. %Gallery-173886% Show comments
The Vanguard Real Estate ETF (VNQ), for example, provides investors with broad exposure to U.S. REITs. The fund holds 163 stocks and has total net assets of $59.9 billion.
September: The Mortgage Insurance Companies of America send a letter to the Federal Reserve, warning about 'risky lending practices' in US real estate. [ 89 ] Fall 2005 : Booming housing market halts abruptly; from the fourth quarter of 2005 to the first quarter of 2006, median prices nationwide drop 3.3 percent.