Auto Suppliers Get A Life Line
Auto suppliers to get $5 billion in aid: The Treasury Department will pump up to $5 billion in financing into troubled auto parts suppliers to prevent an auto industry collapse that could undermine the government’s work to restructure General Motors and Chrysler. The funds, announced Thursday, will be made available from the government’s Troubled Assets [...]
New Home Constructions Jumps 22% From Last Month
New Housing Construction Report: The number of new housing projects that builders broke ground on in February rose sharply, defying economists’ forecasts for yet another drop in activity. The Commerce Department reported Tuesday that construction of new homes and apartments jumped 22.2 percent from January to a seasonally adjusted annual rate of 583,000 units. Economists [...]
Foreclosures Keep Rising – No End In Sight
Foreclosure Report: Foreclosures up 30 percent in February Despite halts on new foreclosures by several major lenders, the number of households threatened with losing their homes rose 30 percent in February from last year’s levels, RealtyTrac reported Thursday. Nationwide, nearly 291,000 homes received at least one foreclosure-related notice last month, up 6 percent from January, [...]