Books

• The 1 percent snatching up low-end real estate

   

• JP Morgan Downgrades Hovnanian, KB

  J.P. Morgan home-building analyst Michael Rehaut on Thursday downgraded the stock of Hovnanian Enterprises (NYSE:HOV) to "underweight" from "neutral"and that of KB Home (NYSE:KBH) to "neutral" from "overweight." At the same time, Rehaut upgraded Standard Pacific (NYSE:SPF) to "neutral" from...

   

• Fed Beige Book: Slow Growth

  The Federal Reserve's monthly report on economic activity, the so-called Beige Book, reported continued expansion at a modest pace in August, though several of the 12 districts were mixed or slowing, the Fed said Wednesday.

   

• FHFA Home Prices Drop 0.3% in January

  The Federal Housing Finance Agency's monthly House Price Index fell 0.3% in January from December to a reading of 186.5, a drop of 3.9% from January, 2010, FHFA said Tuesday. The previously reported 0.3% decline in the December index also was revised downward to a decline of a full percentage...

   

• Horton Has Faith in New Communities

  In Don Tomnitz's book, coming close doesn't count for much. That's what the D.R. Horton president and CEO told analysts today during an earnings call following the release of the company's fiscal first quarter results. With a singular focus on achieving profitability, losing $0.06 a share, or $20.4...

   

• Builder Analyst Eyes Mortgage Put-Backs

  As Fannie Mae and Freddie Mac dig deeper into mortgage underwriting in an effort to mitigate loan losses, risk could be growing for builders' mortgage affiliates. Increasingly over the past few quarters, the GSEs have been forcing banks to take back bad mortgages after loan document reviews reveal...

   

• Fed Beige Book Notes Slowdown

  The economy was still growing in August, though not quite as robustly as it had been earlier in the year, the Federal Reserve's monthly "Beige Book" report on business conditions nationwide said Wednesday. "Reports from the twelve Federal Reserve Districts suggested continued growth in national...

   

• Builder Confidence Sinks to 2010 Low

  Builders were not very bullish in July, less bullish than they have been since the original home-buyer tax credit was first introduced. The National Association of Home Builders/Wells Fargo Housing Market Index(HMI) retreated to a reading of 14 in July, down from a downwardly revised 16 for May. It...

   

• Fed Sees Tentative Improvement in Housing

  The Federal Reserve's report on Current Economic Conditions, the so-called Beige Book, reports positive results from the first-time home buyer tax credit but cites concerns that the market could stall if the credit expires as scheduled on Nov. 30.

   

• M/I Homes Announces Stock Offering

  M/I Homes, Columbus, Ohio, at market close Monday became the latest public home builder to seek to tap the public markets for cash with the announcement of an offering of four million common shares for sale. M/I said it would grant the underwriters, a group led by Citigroup Global Markets, Inc. and...