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Sallie Mae and Freddie Mac, the two largest holders of mortgages in the US, were offered assistance by President Bush. However, confident in their own solvency, they turned down the help; nonetheless, the government stands ready to write the big check if necessary....
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Many of the people who, a year ago, would have been considered the most qualified in the city are having trouble finding co-ops that will let them in. Many Co-Op boards and mortgage companies and adjusting how the treat bonus money, no longer allowing the financial pros to count their 6 and 7 figure bonuses as income....
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In the State of NY, lenders can base the amount of your loan off of your potential future earnings. In doing this, they limit their exposure to making bad loans and can generate new business even during a market slowdown....
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Which candidate would do a better job of handling housing prices? ...
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A recent U.S. Census Bureau report shows that while New York City is getting bigger, even the largest of cities in upstate New York are getting smaller....
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Brooklyn apartment and townhouse sales fell 44 percent in the second quarter from a year earlier and prices dropped 1.9 percent as buyers struggled to obtain mortgages from banks battered by the credit crisis....
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Since prices started to drop in mid-2006, each U.S. homeowner has lost $50,000 in real housing wealth; and, even if the market proves to have already bottomed out, the collapse has “eliminated most, if not all, of the gains that families had made in accumulating wealth over the last two decades."...
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Since the beginning of the U.S. housing downturn two years ago, builders have strived above all to slim down, selling off land and homes to buttress their balance sheets, even at the expense of profits....
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An Abu Dhabi sovereign-wealth fund has purchased a majority stake in the Chrysler Building, an iconic New York City skyscraper....
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The number of Americans losing their homes to foreclosure continued to soar in June, according to a report released Thursday....
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The New York Times announced it removed many of the horizontal ceramic rods that cover its headquarters in Midtown Manhattan on Wednesday afternoon, a few hours after a man climbed up on the skyscraper. It was the third man to do so in the past few weeks....
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Residents of a polluted neighborhood sued the city and a waste recycling company Wednesday, saying that putrid odors emanating from two nearby sewage facilities are ruining their lives.
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U.S. immigrants are taking their hard-earned money and spending it on homes in their native countries, thanks to private lenders and other financing that makes the real estate purchases possible. Particularly popular are developments with American-style amenities....
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Record high foreclosure rates in the second quarter were reported in Los Angeles, Seattle, Miami and New York, according to a report issued by PropertyShark...
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Hundreds of cement-truck drivers went on strike days before the Fourth of July holiday weekend, disrupting some of the largest construction projects in the city including the World Trade Center site....
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