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Archive for May, 2007

Homebuilders Rebound? April Fools! (BusinessWeek Online)


BusinessWeek Online - The news from the U.S. Census Bureau that housing starts actually increased in April was surprising, to say the least. After all, just one day earlier the National Association of Home Builders/Wells Fargo Index, which measures builder confidence, fell three points to 30, matching the 15-year low set last September. And just last week luxury-home builder Toll Brothers said its quarterly earnings would come in lower than expected due in part to tighter lending standards (see BusinessWeek.com, 5/9/07, "Housing's Woes Hit Toll Brothers").

When you need a financial planner
Question: How do I find and evaluate a good financial planner? I have always done my own savings and goal setting, but I am not a professional. I’ve worked hard for my money and have always been hesitant to entrust it to someone else. - Robert, Thomaston, Connecticut

Money Makeover: Adopt and adapt


As a teenager, Lori Smith decided she would someday adopt children. “I promised myself that I would help kids who needed homes,” says Lori, now 41 and a mom to three little Smiths - two of whom she and husband Steve, 40, adopted from China. “What I didn’t know was that I should have started saving back then.”

Money 101: All 23 lessons

The man who explained it all
Once you win a Nobel for explaining the fundamental principles that drive the financial markets, there are two things left for you.

Fremont shares soar on stake, loan unit sales (Reuters)

A sign points to a home for sale in a file photo. Fremont General Corp., which is getting out of the subprime lending business, said on Tuesday it had agreed to sell its commercial real estate lending business to iStar Financial Inc. (Richard Clement/Reuters)Reuters - California savings & loan Fremont General Corp. is expected to survive its subprime mortgage woes after striking two deals on Tuesday, sending its shares soaring, but the bank will emerge a smaller company under new management.


Obama backs placing student loans under government (Reuters)
Reuters - Sen. Barack Obama, a U.S. presidential candidate, said on Tuesday he backs centralizing federal loans for college students under the government and ending federally guaranteed bank loans for them.

Take your home outside


Pam and Mark Elmore weren’t in the market for a home last summer. But when the Bend, Ore. couple happened to stop by a newly built house with a 1,000-square-foot patio, a fully equipped outdoor kitchen - fridge and range included -and a fire pit, they immediately realized they had to have it.

US housing starts show surprise gain, but permits weak (AFP)

Construction workers build a new home in North Aurora, Illinois, March 2007. US new home construction showed a surprise rebound in April, rising 2.5 percent, according to new government data that defied predictions of a deeper slide in the real estate market.(AFP/File/Jeff Haynes)AFP - US new home construction showed a surprise rebound in April, rising 2.5 percent, according to government data released Wednesday that defied predictions of a deeper slide in the real estate market.


What would you do for money?


When it comes to finances, what is and what isn’t okay in America. To find out, Money Magazine surveyed 1,000 adults nationwide.

What’s next for real estate
Reports on 380 home markets across the country. See latest prices, forecasts, and other key stats.

Take your home outside
Pam and Mark Elmore weren’t in the market for a home last summer. But when the Bend, Ore. couple happened to stop by a newly built house with a 1,000-square-foot patio, a fully equipped outdoor kitchen - fridge and range included -and a fire pit, they immediately realized they had to have it.

Fighting corporate card fees


Donna Rosato helps a reader whose account got stuck in limbo.

Intuit profit up, announces stock buyback (Reuters)

Intuit President and Chief Executive Steve Bennett in an undated file photo. Intuit Inc. posted higher quarterly profit on Thursday, topping Wall Street forecasts, on strong demand for its TurboTax and QuickBooks software, sending shares up nearly 6 percent. (Intuit, Inc./Handout/Reuters)Reuters - Intuit Inc. posted higher quarterly profit on Thursday, topping Wall Street forecasts, on strong demand for its TurboTax and QuickBooks software, sending shares up nearly 6 percent.


5 portfolio time bombs
These common mistakes could send your retirement savings up in smoke. Find a better way to divvy up your investment pie.

What’s next for the boomers

8 key questions answered, 5 retirement strategies and more from the March issue. Full table of contents. More Info…

Reuters - U.S. mortgage applications fell for the first time in four weeks, weighed down by sagging demand for home purchase loans, an industry group said on Wednesday. More Info…

Construction workers build a new home in North Aurora, Illinois, March 2007. US new home construction showed a surprise rebound in April, rising 2.5 percent, according to new government data that defied predictions of a deeper slide in the real estate market.(AFP/File/Jeff Haynes)AFP - US new home construction showed a surprise rebound in April, rising 2.5 percent, according to government data released Wednesday that defied predictions of a deeper slide in the real estate market.


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Reports on 380 home markets across the country. See latest prices, forecasts, and other key stats. More Info…

AP - The House debated legislation Thursday that would tighten federal oversight of the two largest buyers and guarantors of home mortgages, Fannie Mae and Freddie Mac. More Info…

US housing starts show surprise gain, but permits weak (AFP)

AFP - US new home construction showed a surprise rebound in April, rising 2.5 percent, according to government data released Wednesday that defied predictions of a deeper slide in the real estate market.


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Pam and Mark Elmore weren’t in the market for a home last summer. But when the Bend, Ore. couple happened to stop by a newly built house with a 1,000-square-foot patio, a fully equipped outdoor kitchen - fridge and range included -and a fire pit, they immediately realized they had to have it. More Info…

The Ultimate Dream: How to achieve financial freedom long before 65. Plus: Best Jobs in America. Full table of contents for the April issue. More Info…

AP - The House debated legislation Thursday that would tighten federal oversight of the two largest buyers and guarantors of home mortgages, Fannie Mae and Freddie Mac. More Info…

Three homes display 'For Sale' signs in a row on Palma Bonita Lane in Perris, California May 2, 2007. A marginal presence in the industry 20 years ago, mortgage brokers have become the face of the $10 trillion home-loan industry, the single point of contact between a sophisticated financial world and borrowers committing to spend hundreds of thousands of dollars to buy a home. (Mark Avery/Reuters)Reuters - LOS ANGELES (Reuters) - Money may not grow on trees but for a while it seemed to grow on houses, and Colleen Moorhead knew exactly where to turn when she needed to harvest some cash.


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Use these picks to fill any hole in your portfolio. More Info…

Mortgage brokers cashed in on U.S. housing bounty (Reuters)

Reuters - LOS ANGELES (Reuters) - Money may not grow on trees but for a while it seemed to grow on houses, and Colleen Moorhead knew exactly where to turn when she needed to harvest some cash.


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Best jobs in America


Second annual edition…Money Magazine and Salary.com sought out the best jobs for anyone ready for a new challenge.

Keeping tabs on older parents
When Allison Gage gave birth to her first child three years ago in Minneapolis, it should have been a joyful moment. Instead, she was worried sick about her elderly parents, Baldwin and Linda Yeung. The couple live 2,000 miles away in Sonoma, Calif. and hadn’t returned any of her phone calls.

Fighting corporate card fees
Donna Rosato helps a reader whose account got stuck in limbo.

Further slip in US housing demand (FT.com)
FT.com - Housing demand in the US took a "further step down" in the first quarter this year, the Federal Reserve chairman Ben Bernanke said on Thursday, even as he played down the impact of the subprime mortgage crisis on housing and growth overall.

30-year mortgage rates jump to new high (AP)

Workers construct a new $2.6 million nearly 14,000-square foot home Wednesday, May 16, 2007, in Sandy, Utah. Construction of new homes posted a small gain in April, but applications for building permits plunged by the largest amount in 17 years, a dramatic sign that the nation's housing industry is still in a steep slump. The Commerce Department reported Wednesday that construction of new homes and apartments rose by 2.5 percent in April compared to March to a seasonally adjusted annual rate of 1.528 million units. (AP Photo/Douglas C. Pizac)AP - Rates on 30-year mortgages jumped to the highest level in five weeks as investors expressed disappointment that the Federal Reserve continues to remain worried about inflation threats.


Take your home outside
Pam and Mark Elmore weren’t in the market for a home last summer. But when the Bend, Ore. couple happened to stop by a newly built house with a 1,000-square-foot patio, a fully equipped outdoor kitchen - fridge and range included -and a fire pit, they immediately realized they had to have it.

What’s next for real estate


Reports on 380 home markets across the country. See latest prices, forecasts, and other key stats.

Invest to win 2007
Money Magazine’s new list of best mutual funds. Plus: 5 perfect money makeovers.

Best places to live
Americans are flocking to places that offer big-city opportunities and amenities — with a lot more green space and a lot less stress. See the top 10 Great American Towns.

Can you retire young?