Three states -- Florida, Texas, and California -- were responsible for nearly a third of all the new dwellings built in 2005, according to the California Building Industry Association.Builders in the Sunshine State produced 287,250 units, including 209,162 single-family houses. Texas builders put up 210,611 units, of which 166,178 were single-family. In California, builders started 208,804 units, including 154,961 one-family dwellings. But it wasn't enough to meet the state's needs, the CBIA said, which is why California's ownership rate is the second-lowest in the country. Production in the Golden State wasn't evenly distributed, either. Of the 535 cities and counties in California that issued building permits in 2005, 6% accounted for half the approvals. Sixteen jurisdictions issued no building permits at all in 2005 for homes, condominiums, or apartments, the builder group reported. Fifteen places issued just one permit, and a handful of others issued five or less.
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The head of the government-sponsored enterprises' oversight agency also asked existing investors to review risk factors as officials eye a new public offering.
6h ago -
More than 4,000 federal workers received notices Friday that their last day will be Dec. 9.
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America's second-largest bank revised its net interest income target upward after what analysts called a "clean" third quarter.
October 15 -
The megalender is accusing a nearby brokerage of skirting labor laws and avoiding significant overhead costs in misclassifying hundreds of employees.
October 15 -
The new platform already counts two businesses as embedded partners, with the rollout coming as mortgage leaders see rising demand coming for DSCR loans.
October 15 -
Federal Reserve Governor Stephan Miran said the economic standoff with China could increase market volatility, further necessitating the central bank to move its policy stance to neutral.
October 15