Los Angeles Times - "Lancaster proposes limiting Section 8 housing" (4-10-09)

"Determined to slash the number of Section 8 renters in Lancaster, officials are proposing amendments to the city's rental housing ordinance that would allow business licenses to be withheld from landlords who want to rent to low-income tenants with federal vouchers. Officials contend that there are more than 2,300 residential units occupied by Section 8 tenants in their city, about 12% of the total number of vouchers administered by the Housing Authority of Los Angeles County. The federal program provides rental subsidies for the needy."

NAHB - "Single-Family Housing Starts Unchanged In March " (4-16-09)

"Characteristic volatility in the multifamily sector pushed nationwide housing starts down 10.8 percent in March as production of single-family homes remained unchanged, according to numbers released today by the U.S. Commerce Department. Overall starts fell to a seasonally adjusted annual rate of 510,000 units, due entirely to a 29 percent reduction on the multifamily side that largely offset a big gain in apartment and condo building in the previous month."

DQNews - "California March Statewide Home Sales/Median Prices" (4-16-09)

"An estimated 36,215 new and resale houses and condos were sold statewide last month. That was up 23.9 percent from 29,225 in February and up 47.4 percent from 24,565 for March 2008. Sales have increased on a year-over-year basis the last nine months. California sales for the month of March have varied from last year's low to a peak of 68,848 in 2005, the average is 44,813. MDA DataQuick's statistics go back to 1988."

DQNews - "Bay Area home sales continue climb, median still below $300K" (4-16-09)

"A total of 6,325 new and resale houses and condos closed escrow in the nine-county Bay Area last month. That was up 25.7 percent from 5,032 in February and up 29.1 percent from 4,898 in March 2008, according to MDA DataQuick of San Diego."

Mercury News - "Mortgage rates fall to just shy of record lows" (4-16-09)

"Mortgage finance giant Freddie Mac said today that average rates on 30-year fixed-rate mortgages fell to 4.82 percent this week, down from an average of 4.87 percent last week. Rates have been below 5 percent for five consecutive weeks."

Bloomberg - "U.S. Economy: Jobless Claims Fall, Housing Stabilizes" (4-16-09)

"Initial jobless claims decreased by 53,000 to 610,000 in the week ended April 11, the fewest since January, the Labor Department said today in Washington. Builders broke ground on 358,000 single-family homes at an annual rate, unchanged from the prior month. "

Yahoo - "US foreclosures up 24 percent in 1st quarter" (4-16-09)

"The number of American households threatened with losing their homes grew 24 percent in the first three months of this year and is poised to rise further as major lenders restart foreclosures after a temporary break, according to data released Thursday."

Yahoo - "Falling housing starts dampen hope on housing recovery" (4-16-09)

"The Commerce Department said housing starts fell 10.8 percent to a seasonally adjusted annual rate of 510,000 units, the second lowest on records dating back to 1959, from February's downwardly revised 572,000 units."

Bloomberg - "General Growth Files Biggest U.S. Property Bankruptcy" (4-16-09)

"General Growth Properties Inc. filed the biggest real estate bankruptcy in U.S. history after amassing $27 billion in debt during an acquisition spree that turned it into the second-largest shopping mall owner."

Bloomberg - "Ackman Sees ‘Zero’ Chance of General Growth Fire Sale" (4-16-09)

"Ackman’s hedge-fund firm agreed to provide $375 million in bankruptcy financing to General Growth as part of his wager that the company can restructure without wiping out shareholders. Ackman’s Pershing Square Capital Management LP began accumulating a stake in General Growth in November by buying stock and derivatives known as swaps."

Bloomberg - "GMAC Boosts Home Lending, Will Add 1,000 Workers, Marano Says" (4-16-09)

"GMAC LLC, the auto and home lender that was bailed out to save General Motors Corp., said its mortgage unit is benefiting from an increase in refinancing and jumbo loans and is hiring 1,000 people to handle the workload."