1.Construction of New U.S. Homes Declines on Plunge in South
“Housing starts unexpectedly declined in June to a nine-month low, led by a record plunge in the South that shows the construction industry must still overcome hurdles before it can contribute more strongly to U.S. economic growth. ”
2.Average US Mortgage Rates Dip Slightly
“Average U.S. mortgage rates declined slightly this week with rates remaining near historic lows.”
3.Latest Fed Survey Sees Improved Economy
“The economy kept expanding in all regions of the country in June and early July, helped by strength in consumer spending, a Federal Reserve survey released Wednesday indicates.”
4.US Home Construction Drops 9.3 Percent in June
“U.S. home construction fell in June to the slowest pace in nine months, a setback to hopes that housing is regaining momentum and will boost economic growth this year.”
5.Home sales get even weaker, St. Louis Fed finds
“The housing news continues to get worse in the region encompassed by the Federal Reserve Bank of St. Louis.”
6.RealtyTrac reports falling foreclosure rates
“The RealtyTrac real estate market data analysis firm has released a massive amount of foreclosure statistics in a mid-year report showing a general downward trend in sour loans in or headed toward foreclosure.”
7.REAL ESTATE: Inland home prices continue gradual rise
“Home sales continued to slow in Inland Southern California last month, and prices are increasing at a slower pace – signs that the market is reacting to local buyers and sellers and not to outside economic interests, a report released Tuesday found.”
8.U.S. economy gaining traction despite weak housing
“The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, pointing to sustained momentum in the economy even as home building fell for a second straight month in June.”
9.America’s lost oomph
“ACK in the mid-1990s, America’s economic prospects suddenly brightened. Productivity soared. Immigrants and foreign capital flocked to take advantage of what was quickly dubbed the “New Economy”. The jobless rate fell to 4%, yet inflation remained low. All this led economists to conclude that America’s potential rate of growth—the speed at which the economy can expand while keeping unemployment steady and inflation stable—had risen sharply from its decades-long average of 3%, to 3.5% or even higher.”
10.San Francisco median home price hits $1 million
“If San Francisco needs a new name in the zany plan to create six Californias, they might as well call it “Millionaireville.”
11.Paulson: Buying a house still best investment
“Billionaire money manager John Paulson believes buying a home to live in is the best investment possible. ”