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News

Housing minister Caroline Flint’s blunder reveals 10% slump but it’s not official – yet (Times Online)
House prices will fall by up to 10 per cent “at best” in the next year, according to a private government assessment laid bare by a minister’s blunder. Caroline Flint, the Housing Minister, told the Cabinet to prepare for a worsening market yesterday. “We can't know how bad it will get,” she said.

UK's Brown to reveal plans to help housing market (AlertNet)
Source: Reuters By Adrian Croft LONDON, May 14 (Reuters) - Prime Minister Gordon Brown will set out plans on Wednesday to shore up Britain's creaking housing market as part of a drive to reverse a slide in support ...

Governor's deal with builders irks senators (The Arizona Republic)
Some Republican state lawmakers on Monday blasted a ''backroom deal'' between Gov. Janet Napolitano and a Valley home-builders group that would exempt residential developers from sharing a portion of the costs of a major transportation initiative in exchange for a $100,000 contribution to boost the signature-gathering campaign.

6 signs of an economic rebound (Money via Yahoo! Finance)
By now you've had enough of the endless gloom in today's economic news: record oil prices, slower home sales, deepening loan losses, disappointing corporate earnings. What you're really looking for at this point are a few signs of hope.

Del Sur Takes National Honors for Green Construction (San Diego Business Journal)
Del Sur was named Mixed Use Development of the Year by the National Association of Home Builders during its annual Green Building Awards ceremony May 11 in New Orleans.

Senate panel set for housing vote Thursday: source (Washington Post)
WASHINGTON (Reuters) - The Senate Banking Committee is due on Thursday to vote on legislation that would greatly expand a federal housing program and create a new regulator for Fannie Mae and Freddie Mac, a committee source said on Monday.

Five Things You Need to Know: Themes Converge Into Possible Housing Solution (Minyanville via Yahoo! Finance)
There are several themes at play in today's Five Things that we believe could potentially converge into a singular, overarching housing solution.

U.S. luxury-home builder reports sharp fall in sales (International Herald Tribune)
Toll Brothers said preliminary home building sales in second quarter fell by 30 percent from a year earlier to $817.9 million.

Flint gaffe reveals ministers' fears of housing slump (Independent)
House prices are set to fall by 5 to 10 per cent "at best" this year – but ministers have no idea how badly the market could slump, according to confidential cabinet documents accidentally revealed by the Housing minister, Caroline Flint.

Home builders to carry more costs from defect lawsuits (Las Vegas Business Press)
Homes in Nevada could end up costing even more as a result of a precedent-setting federal court decision giving insurance companies the right to seek reimbursement from their insured builders for money paid out to settle lawsuits.

Home Builders Association endorses Lenthall, Ovitt and Arnold (The San Luis Obispo Tribune)
Supervisor candidates Jerry Lenthall, Harry Ovitt, and Debbie Arnold have won the endorsement of the Home Builders Association of the Central Coast in the June 3 election. Incumbents Ovitt and Lenthall and challenger Arnold “recognize that meeting the housing challenges of today and tomorrow requires balancing competing interests and making sure that we really plan for and meet the current and ...

Toll Brothers preliminary 2Q sales fall 30 percent (AP via Yahoo! Finance)
Investors scouring for hints of a housing revival won't find much in the second-quarter preliminary sales results of luxury-home builder Toll Brothers Inc.

Minister lets slips fears over housing (AFP via Yahoo! News)
A minister let slip fears about the state of the country's housing market Tuesday by inadvertently showing briefing notes as she arrived for a meeting.

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