Industry News

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WSJ.com: Real Estate

Real Estate

Home Foreclosures Hit Record

Home foreclosures rose to 0.99% of all mortgages in the first quarter, the highest proportion on record. Meanwhile, the delinquency rate jumped to 6.35% in the same period.

Housing Supply Declined in May

The supply of homes available for sale in major metropolitan areas declined slightly in May, but an ample supply remains, new data show.

Local Banks Regain Mortgage Business

Some community banks are regaining market share as aggressive brokers and national lenders scale back or go out of business.

The Vegetable Patch Takes Root

Homeowners are growing their own food as consumers balk at the rising cost of groceries. They're building raised vegetable beds, turning their spare time over to gardening, and doing battle with insect pests.

Home Depot Chief Renovates

When Frank Blake became Home Depot's CEO, he found himself saddled with a renovation project. Despite dwindling home sales and limits on spending, he has been making changes in both style and substance.

Housing Slump Hits Latino Workers

Hispanics who provided the bulk of the construction work force during the housing boom are suffering as many of those jobs evaporate, according to a new study. However, there are no signs Hispanics are quitting the U.S. labor market.

Ed McMahon Faces Foreclosure

Ed McMahon faces the possible loss of his Beverly Hills home to a foreclosure action initiated by a unit of Countrywide.

State Sues Option One

Massachusetts sued subprime lender Option One Mortgage and parent H&R Block, alleging discrimination against black and Latino borrowers.

Family Skirts Foreclosure

Scenes from the Mortgage Mess: A close look at a how one California couple pulled off a short sale

Wachovia Ousts Thompson

Wachovia said its board ousted Chief Executive Ken Thompson, replacing him on an interim basis with Chairman Lanty Smith. The move comes nearly a month after Wachovia shifted Thompson out of the chairman role.

California Frets Fire's Early Start

An early wildfire season prompted California Gov. Schwarzenegger to issue an executive order mobilizing California's firefighting resources in early May. But the real fight for state officials is with the people who reside in fire-prone areas.

Living on Shaky Ground

Teardown Diary: Before the rebuilding begins, columnist Nancy Keates considers how to make her home safer from earthquakes and other natural disasters.

Developers Cancel Las Vegas Project

Developers of a $5 billion complex for the Las Vegas Strip have decided not to proceed with the project, one of the developers, Australian gambling company Crown Ltd., said. Crown, which held a 37.5% stake in the LVTI joint venture with Texas developer Christopher Milam and private-equity firm York Capital Management LLC, said it will write off its investment in the project of around 44 million Australian dollars (US$41.9 million). The site was put up for sale in March amid pressure from the global credit squeeze.

New Goldman Building Beset by Problems

Goldman Sachs' new 43-story building in lower Manhattan was supposed to be the envy of Wall Street, but the $2.4 billion building has been beset by problems.

Flush German Funds Move In

Germany's open-ended real-estate funds are cash-rich and have been taking advantage of falling European property prices and rivals' squeamishness.

ResCap's Needs Jump to $2 Billion

GMAC and Cerberus are scrambling to keep ResCap afloat after the ailing mortgage lender discovered it will need to raise $1.4 billion more than expected in just four weeks to meet its own needs and satisfy commitments to lenders.