Housing funk hits homebuilders hard (AP)
AP - New homes, used homes; it makes no difference — the housing market is stuck in a funk that shows no sign of lifting, and more homeowners are getting in a bind. More »
Dollar trades mixed (AP)
AP - The dollar traded mixed against other major currencies Thursday after a U.S. government report reinforced worries about the troubled housing market. More »
Asian currencies sink as credit fears bite (FT.com)
FT.com - Asian currencies fell sharply on Friday on concern that the deterioration in the US housing market could raise credit costs and put a brake on the global economy. More »
Real Estate Bets in Shaky Times (BusinessWeek Online)
BusinessWeek Online - The slump in the U.S. housing market has convinced many investors to stay away from real estate investments for the foreseeable future, with analysts unable to call a market bottom. That's weighing not only on hard assets such as homes and condos, but on stocks like real estate investment trusts, whose prices have dropped since the beginning of the year. More »
No Housing Turnaround for Two Years? (BusinessWeek Online)
BusinessWeek Online - First, it was the second half of 2007. Then it was 2008. Now analysts are saying the national housing market may not rebound until 2009 More »
PIMCO'S Gross says stocks are appropriately valued (Reuters)
Reuters - Stocks and high-yield corporate bonds are back to appropriate levels, the world's biggest bond fund manager said on Friday, a day after fears of spreading problems in the housing market triggered a rout in global stock and credit markets. More »
Wall Street often shelved damaging subprime reports (Reuters)
Reuters - Investment banks that bundle and sell home mortgages often commissioned reports showing growing risks in subprime loans to less creditworthy borrowers but did not pass much of the information to credit rating agencies or investors, Wall Street sources said. More »
ALL BUSINESS: Mortgage woes no surprise (AP)
AP - Century 21 Real Estate's CEO Thomas Kunz may have unintentionally hit the nail on the head when he declared that a "pity party" is gripping the housing industry right now. More »
Fortune Brands profit tops Wall St expectations (Reuters)
Reuters - Fortune Brands Inc. posted better-than-expected quarterly earnings on Friday as strong demand for its Titleist golf equipment and spirits such as Jim Beam bourbon largely offset the impact of the housing market downturn on home products sales. More »
Citigroup sees subprime losses at Fannie, Freddie (Reuters)
Reuters - Price deterioration in subprime mortgages has resulted in approximately $4.7 billion of unrealized losses for mortgage finance giants Fannie Mae and Freddie Mac, according to report published by Citigroup. More »
Hidden U.S. subprime losses may mirror Japan bank crisis (Reuters)
Reuters - Investors and banks holding on to U.S. subprime mortgage bonds in hopes of a recovery in value may make losses worse, mirroring the Japanese banking crisis in the 1990s, according to authors of a new report. More »
Pulte plans for return to profits
Bloomfield Hills-based Pulte Homes Inc., which posted a $507.6 million second-quarter loss, plans to cut costs and better manage its land assets as part of a plan unveiled Thursday to return the firm to profitability. More »
Eureka Springs Hotels Hit Record Revenue
Eureka Springs hotels earns $20.7 million in 2006, topping previous record year of 2003. More »
The 'Hood Comes to the Heights
We understand blue-collar criminals are encroaching on an area of Little Rock normally associated with little or no crime and dominated by white-collar denizens. More »
Upscale Condo Set for West Little Rock
An upscale condo project is in the works for Little Rock. More »
21-story One Union National Plaza Sells For $9.2 Million.
A 235,600-SF office building in downtown Little Rock has a new owner. More »
Sports Debut (Jeff Hankins Publisher's Note)
Arkansas Business Publishing Group launches a new Web site, but also a monthly magazine called ArkansasSports360.com. More »
Biofuels Owner Battles LR Over Zoning Conversion
As a pioneer of one of the first alternative fueling stations in Arkansas, Go Green Biofuels, Buddy Rawls half expected a pat on the back. The response from Little Rock city officials has been more like a slap in the face. More »
Asian markets bounce back (AP)
AP - Asian markets bounced back Monday after last week's global sell-off as investors snapped up shares that had fallen to attractive levels and reassessed the possible impact U.S. housing woes on the region's companies. More »
HSBC says profits up 13 pct, but bad debts jump (Reuters)
Reuters - HSBC Holdings , Europe's biggest bank, posted higher first-half profit and struck an upbeat tone on the global economy on Monday, despite a big rise in bad debts linked to its problems in the U.S. housing market. More »
Let the Blame Begin (BusinessWeek Online)
BusinessWeek Online - Who's responsible for the subprime mess? Not us, say the lenders that made risky mortgage loans to consumers. Similar denials come from the Wall Street firms that bought, packaged, and sold the loans to investors; the bond-ratings agencies that said those investments were safer than they turned out to be; and the hedge funds that gorged on them. As the allegations fly, various players are busy issuing disclaimers and pointing fingers at everyone else. More »
Mixed night for real estate rates
30-year fixed rate at 6.26%; 10-year Treasury yield at 4.76% More »
Foreigners seek U.S. homes in sunny states
Buyers more likely to purchase condos, pay cash than U.S. counterparts More »
Home remodeling spend expected to hold steady
Built-up equity, favorable borrowing costs to keep home improvements afloat More »