By Anuradha Kher, Online News EditorWashington, D.C–The Federal Open Market Committee today lowered its target for the federal funds rate by 50 basis points to 3 percent. This is the second rate cut in just over a week.It followed a three-fourths of a percentage point cut on Jan. 22, a day after financial markets around [...]

Washington, D.C.–For the second time in just over a week, the Federal Reserve cut short-term interest rates Wednesday, the New York Times reports. Announcing it was now more concerned about slowing economic growth than inflation, the Fed reduced the benchmark Federal funds rate by half a point to 3 percent at its two-day January policy [...]

Atlanta–Real estate investment trust (REIT) Post Properties, based in Atlanta, has received a buyout offer from Cadim and Williams Realty Advisors LLC, a group that includes John Williams, Post’s founder and former CEO.Post Properties said the group offered $44 to $47 a share in cash. Post has 43.71 million shares outstanding, making the deal worth [...]

By Anuradha Kher, Online News EditorAvondale, Ariz.–HFF (Holliday Fenoglio Fowler LP) has arranged a construction loan and joint venture equity totaling $92.75 million for a 715-unit multifamily development in Avondale, Ariz.The project will be developed by Fore Property Co. and is expected to be completed by 2010. It will consist of two phases: Mirabella Village [...]

By Anuadha Kher, Online News EditorBeaverton, Ore.–Guardian Management LLC along with equity partner GE Commercial Corp has acquired two multifamily properties in Beaverton, Ore. owned by Fairfield Residential for a total of $50 million.Wyndham Park (pictured), a 228-unit community at 14700 SW Scholls Ferry Rd. consists of one- and two-bedroom apartments and The Westbury, a [...]

By Anuradha Kher, Online News EditorWashington D.C—In his final State of the Union address this week, George W Bush touched on everything from the Iraq war to the housing crises that has unfolded over the last one year.  As fears over recession continue to escalate, many looked to the President this week to understand what [...]

Hollywood, Fla.–Homebuilder Tousa Inc. filed for bankruptcy protection Tuesday, CNN.Money.com reports.Hurt by the continued housing decline and an increase in sales cancellations, the Hollywood, Fla.-based builder said Citigroup Global Markets Inc. will supply $150 million in financing for the reorganization. Tousa plans to use the Citigroup financing to pay suppliers and employee salaries. The company [...]

Washington, D.C.–Reduced spending and the largest decline in residential construction in 26 years caused U.S. economic growth to slow significantly in the fourth quarter, according to data released Wednesday by the Commerce Department.After three consecutive months at a 4.9 percent pace, economic growth declined to an annual rate of 0.6 percent in October through December, [...]

Irvine, Calif.–The housing slump and slowing economy has put U.S. homebuilders at risk of going bankrupt, the Financial Times said Wednesday.Spreads on five-year credit default swaps imply Irvine, Calif.-based Standard Pacific is the most at risk, with a 79 percent chance of defaulting, according to Douglass. Shares of Standard Pacific–which holds the second largest amount [...]

Washington, D.C.–The Federal Bureau of Investigation has opened criminal inquiries into 14 companies in connection with a mortgage industry investigation, the Wall Street Journal reports.Although the F.B.I. did not identify the companies under investigation, it said the investigation, which began last spring, includes potential accounting fraud, insider trading and other violations that originated with loans [...]