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.
Top ads RSS
- STRATEGIC PLANNER Topeka Transit is seeking a professional strategic planner. ...
- KU University Relations
- Landmark National Bank
- Electrician Experienced, licensed Electrician needed. Need to be motivated & ...
- PART TIME RESIDENTIAL ACCOUNT EXECUTIVES Positions Available In Lawrence/Eudora Basehor ...
Marketplace
Arts & Entertainment · Bars · Theatres · Restaurants · Coffeehouses · Libraries · Antiques · Services
- Blog: Sarah Palin: With Interest July 4, 2009 · 104 comments
- Palin to resign as Alaska governor July 3, 2009 · 126 comments
- Franken attorneys sway election July 3, 2009 · 65 comments
- New law: Left lane only for passing July 2, 2009 · 193 comments
- Increased government control poses threat to America July 4, 2009 · 44 comments
- Blog: Hipaa Regulations And Michael Jackson June 30, 2009 · 40 comments
- Marines push deeper into Taliban areas July 4, 2009 · 9 comments
- Blog: What's Cooking Today? July 4, 2009 · 21 comments
- Among All-Stars, these stand out July 4, 2009 · 2 comments
- Lawrence residents could face new fees July 3, 2009 · 71 comments
- Kansas football rookies adjusting July 4, 2009
- Increased government control poses threat to America July 4, 2009
- Homemade potato salad is a basic American right July 3, 2009
- Coalition to gather input on aging issues July 4, 2009
- Victims are still missing 20 years after trial July 4, 2009
- Avoid a teen party disaster May 26, 2009
- Not your average piano players July 4, 2009
- Mural paints motivational message July 4, 2009
- Sunflowers blooming in local fields August 25, 2008
- Sunflower farm shows off state icon August 18, 2007
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.