Archive for Wednesday, May 7, 2008
Fannie sees price drop
May 7, 2008
Advertisement
Washington, D.C. — The outlook for the housing market darkened further Tuesday as the nation's largest buyer of home mortgages said it racked up more than $2 billion in quarterly losses and forecast a steeper drop in home prices this year.
If Fannie Mae's prediction proves true, the real estate woes could further shake the confidence of consumers already stung by rising food and fuel prices, and an anemic job market.
Home foreclosures are accelerating throughout the country, adding to the glut of unsold properties and further depressing prices. As a result, a growing number of homeowners are saddled with loans that outstrip the value of their houses.
"I think that right now we are in the belly of the cycle," Fannie Mae's president and CEO, Daniel Mudd, said during a conference call with analysts.
More like this
- Fannie Mae profits drop by 36 percent in 2006 August 17, 2007
- Housing prices still falling July 20, 2008
- Fannie Mae works to restore credibility December 23, 2004
- Fannie, Freddie blind to bubble 40 comments / September 7, 2008
- $75B lifeline thrown to homeowners 1 comment / February 19, 2009
Top ads RSS
- LPN Baldwin Healthcare is currently accepting applications for a full ...
- Federal Home Loan Bank
- Traffic Safety Specialist 2 Kansas Traffic Safety Resource Office Topeka ...
- Full Time Police Officer The Tonganoxie Police Department is accepting ...
- Grant Monitor Higuchi Biosciences Center, KU Duties include coordination of ...
Marketplace
Arts & Entertainment · Bars · Theatres · Restaurants · Coffeehouses · Libraries · Antiques · Services
- <strong>FINAL:</strong> KU gives highlight-reel performance in 103-45 exhibition win over Pitt. State November 10, 2009 · 7 comments
- Blog: Dillons, Hyvee, And Checkers — I'Ve Shopped And Compared. See The Results. November 8, 2009 · 210 comments
- Blog: Being A Stripper: 10 Things I'Ve Learned So Far November 10, 2009 · 81 comments
- Parental duties November 10, 2009 · 66 comments
- Blog: My Favorite Season...And My Favorite Weekly Deals November 8, 2009 · 18 comments
- On the street: Did you watch 'Sesame Street' when you were a child? November 10, 2009 · 61 comments
- Attorney for man who says he shot George Tiller won't present 'necessity' defense November 10, 2009 · 25 comments
- Thanks to Moore November 10, 2009 · 66 comments
- Roeder confesses to shooting abortion doctor November 9, 2009 · 63 comments
- Limited production November 10, 2009 · 4 comments
- Business development taking shape November 10, 2009
- Season's greetings: Photographer’s book explores Kansas nature November 10, 2009
- 'White Owl' held in jail in connection with protective order case November 9, 2009
- Cats are independent but trainable November 10, 2009
- First blast on section of Kansas Turnpike river bridge scheduled for early Sunday afternoon November 10, 2009
- Food Inc. documentary to be shown at KU November 10, 2009
- KU fraternity members to collect food, money this weekend at Clinton Parkway Hy-Vee November 10, 2009
- <strong>FINAL:</strong> KU gives highlight-reel performance in 103-45 exhibition win over Pitt. State November 10, 2009
- Douglas County's Medical Reserve Corps shows its worth during H1N1 pandemic November 10, 2009
- New, legal, drug has law enforcement concerned — and it's already on a Lawrence store's shelves November 4, 2009
Post a comment
Requires free LJWorld.com registration. Register or log in below.
Read our full policy. Also, read about banned accounts and harassing comments.
Post a blog entry
You have to be logged in to blog on LJWorld.com. Please log in or sign up.
Learn more about blogging on LJWorld.com.