When homeowner-related credit issues began, they involved subprime borrowers–people with less than perfect credit–prompting criticism when the government stepped in with its Hope Now program to help those homeowners avoid foreclosure. Some asked, why should we help homebuyers who over extended themselves? Isn’t that their problem? Well, according to a recent New York Times article, it’s now everybody’s problem. Decreased home prices and stricter lending standards have pushed some homeowners with good credit backgrounds behind on their payments–less than the 24 percent of subprime borrowers which are delinquent or in foreclosure, the Times says, but in some areas, still a…

For much of the year, commercial real estate held its own as the residential sector slid into despair. However, recent signs indicate commercial might be hitting a rough patch: And it’s starting at the epicenter of American excess–the shopping mall. According to commercial real estate market research firm Reis Inc., the vacancy rate at shopping centers whose main resident was a big-box retailer or supermarket hit its highest level in 2007 in four years, Financial Week reports. Like so many aspects of the housing decline, the rising commercial vacancies were something we probably should have seen coming. As the housing…

For the past year, Canada’s housing market has been steadily rising. Prices for condos, two-story properties and detached bungalows all rose more than 11 percent last quarter from 2006, according to a Royal LePage Real Estate Services report released this week. The Canadian real estate company, which has more than 600 locations in the country, said the fourth quarter saw large housing gains, The National Post reports. "The fourth quarter 2007 was surprisingly strong with unseasonably high price increases and unwavering demand," Royal LePage CEO Phil Soper said. In addition, the Toronto Real Estate Board said 2007 was its best…

We all know green building is hot–according to a McGraw Hill Construction study, the volume of green real estate is going to quintuple by 2010. It’s predicted to then be 10 percent of the U.S. building stock. But just saying your multifamily complex or community of homes is green isn’t enough. Today’s consumers are looking for highly-efficient, economical homes, and they’re more educated than ever about what that entails. So to sell a green home, you need to think green: And that means involving the homes’ ecological aspects in all your marketing and promotional materials and events. A recent article…

The New Year kicked off to a bleak start with news that U.S. manufacturing fell for the first time in 10 months in December, hitting its lowest point since 2003, according to a report released today by the Institute for Supply Management. The private research group’s manufacturing index–which The New York Times says is considered a leading indicator of recession– fell from 50.8 in October to 47.7 in November. Readings over 50 indicate growth. Stocks fell almost immediately when the report was released. The good news: For once, the disappointing report isn’t about housing! The bad news: Well, it actually…

Two separate studies published this week–one about U.K. house prices and another about prices in the U.S.–painted a bleaker seasonal picture of both markets than many economists would have liked. In December, U.K. house prices dropped again–for the third month in a row–according to Hometrack, a residential research company based in London. Hometrack also said houses are now sitting on the market longer than ever: an average of eight weeks. However, Hometrack’s monthly report did contain one good piece of year-end news: Overall in 2007, U.K. home prices were up 3 percent. True, that’s because prices were hefty in the…

Last month’s previously-owned home sale figures are due out later this morning … will they be relatively unchanged, as many industry experts have predicted? And could that be a sign things are over — or that the economy isn’t quite as "headed for trouble" as we’d earlier feared? Tune in later today to MHN’s Out and About blog for the full report …

Spain’s Balearic islands have been a popular vacation spot since the 1960s — maybe a little too popular. That’s why Spain is expected to announce tomorrow that all construction on the islands of Ibiza, Mallorca and Menorca will be halted, the Guardian reported today. Done. No more. Details haven’t been announced but the move is expected to save land in Palma, at one of Mallorca’s largest bays and in urban marshlands in Ibiza and Palma de Mallorca. Those areas will be made protected land, making them untouchable in the future. Last week, the government began a plan to remove illegally…

The Fed is still meeting and is expected to announce a rate decision later today. Will it be another quarter percent cut, as predicted? Or more? Or nothing at all? With the recent positive growth news — but the continued news that housing is still on the decline — it’s hard to say. Stay tuned to MHN Out and About for a later update today!

Homebuilders and developers who embrace green building may not be sure how to market it — but as sustainability becomes more and more popular, there’s reason to. But where do you begin? Is it worth the expense of seeking a seal of approval from an official green building organization? Are there guidelines you can find to follow without having to use any that don’t apply to your project? All valid questions — which are nicely addressed in a recent article on HGTVpro.com, a Web site for professional homebuilders. The article offers some focus about what things to consider before building…