NAHB - "Media Advisory: Online Press Registration For 2008 International Builders' Show Now Open" (6-25-07)

"The 2008 International Builders’ Show® (IBS), the housing industry’s largest annual trade show and exhibition is now open for online registration. Produced by the National Association of Home Builders (NAHB), the Show is expected to attract more than 100,000 attendees from 100 countries. The Show will offer the industry’s largest new product showcase, with suppliers encompassing all aspects of the residential building industry. The 2008 IBS will feature more than 1,900 exhibitors representing more than 300 industry categories and displaying the latest in home and building products and services. IBS also hosts nearly 300 educational seminars on topics ranging from construction codes and standards and green building to economic trends and 50+ housing, as well as home tours and special events."

NAHB - "High Court Rules For NAHB In Clean Water Permit Case" (6-25-07)

"The U.S. Supreme Court has ruled in favor of regulatory balance—and environmental stewardship—in a five to four decision regarding home builders’ consultation requirements under the Endangered Species Act. In the case of National Association of Home Builders v. Defenders of Wildlife, the court reversed and remanded a lower court decision that required the U.S. Environmental Protection Agency to consider the protection of 'listed' species before handing Clean Water Act permitting authority over to the state of Arizona. The EPA had determined that the state met all the necessary criteria for receiving that authority."

NAHB - "Home Building Educational Software From NAHB Wins ASAE's 2007 Associations Advance America Award" (6-25-07)

"The National Association of Home Builders (NAHB) has been honored with the Award of Excellence in the 2007 Associations Advance America (AAA) Awards program for its “Building Homes of Our Own” education game. The national competition was sponsored by the American Society of Association Executives (ASAE) & The Center for Association Leadership, Washington, D.C."

CAR - "C.A.R. reports sales decrease 25 percent in May, median price of a home in California at $591,180, up 4.8 percent from year ago" (6-25-07)

"Home sales decreased 25 percent in May in California compared with the same period a year ago, while the median price of an existing home increased 4.8 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today. 'Concerns about subprime lending will be with us well into next year, but improving economic conditions should bolster consumer confidence in the economy as we move through the second half of this year,” said C.A.R. President Colleen Badagliacco. “However, with prices holding steady or showing marginal declines in many parts of the state, affordability will continue to be a problem even with mortgage rates that remain near historic lows. In a competitive market with a wide range of properties for sale compared with a year ago, those homes that are in top shape and are well priced are in the best position to attract buyers in today’s market.'"

Yahoo - "When Paying Off Doesn't Pay" (6-25-07)

"I get many letters asking whether it's better to pay off your mortgage or invest the money in the stock market instead. This is a complex question, but I'll offer several ways of thinking about it. First, no one ever spent a sleepless night because she had millions in the bank and stocks but didn't have her home paid off. On the other hand, if you pay off your mortgage and deprive yourself of liquidity, you could be in for some miserable times. As I see it, if money is even the slightest bit tight, hold onto it and pay off the mortgage month by month. There's nothing magically good about having a paid-off mortgage, but there's something seriously bad about not having ready liquid assets even if your home is paid for."

Bloomberg - "Bear Stearns Rivals Reject Fund Bailout in LTCM Redux" (6-25-07)

"Bear Stearns Cos. is getting a taste of its own medicine. It was Bear Stearns, the biggest broker to hedge funds, that nine years ago declined to join 14 other investment banks in the bailout of Long-Term Capital Management LP. Then last week, as New York-based Bear Stearns pleaded for help to rescue two of its hedge funds teetering on the brink of collapse, many of the same firms refused to come to its aid."

CNN - "Weakest home sales in 4 years" (6-25-07)

"Home sales slumped to a four-year low in May as prices slid further and the glut of homes on the market hit a 15-year high, a real estate group said Monday, noting buyers are being scared away by the weak housing market. Existing homes sold at an annual pace of 5.99 million last month, down from a revised 6.01 million rate in April, according to the report from the National Association of Realtors. It was the slowest pace of home sales since June 2003, although it was essentially unchanged from the original April reading."

CNN - "Putting the card before the house" (6-25-07)

"In another symptom of the subprime mortgage meltdown, stressed-out borrowers may be taking care of their credit card bills before making their mortgage payments. According to a report from consumer credit reporting agency Experian, borrowers with credit scores of 620 or below are 30 days late more often with mortgage payments than with payments on bank-card debt."

The San Diego Union Tribune - "Petersons' former home draws no bids in foreclosure auction" (6-25-07)

"No one showed up to bid on the former home of Scott and Laci Peterson, leaving a bank to take possession of the tidy house that was once at the center of a national drama. A foreclosure auctioneer opened and closed bidding Friday on the small bungalow where the couple lived before the pregnant wife disappeared on Christmas Eve. A Simi Valley bank is the new owner."

Bloomberg - "U.S. Home Resales Fell in May to Lowest Since 2003" (6-25-07)

"Sales of previously owned homes in the U.S. fell in May to the lowest in almost four years, reinforcing concerns about a protracted housing slump. Purchases last month declined 0.3 percent to an annual rate of 5.99 million, the lowest since June 2003, from a revised 6.01 million in April, the National Association of Realtors said today in Washington. The supply of unsold homes jumped to the highest in almost 15 years."

Bloomberg - "U.S. Economy: Existing Home Sales Approach Lowest in Four Years" (6-25-07)

"Sales of previously owned homes in the U.S. fell in May to the lowest level in almost four years, reinforcing concerns about a protracted housing slump. Purchases declined 0.3 percent to an annual rate of 5.99 million, from a revised 6.01 million the prior month, the National Association of Realtors said today in Washington. The supply of unsold homes jumped to a record."

NAR - "May Existing- Home Sales Show Market is Under Performing" (6-25-07)

"Existing-home sales were essentially unchanged in May, according to the National Association of Realtors®. Total existing-home sales – including single-family, townhomes, iniums and co-ops – eased by 0.3 percent to a seasonally adjusted annual rate1 of 5.99 million units in May from an upwardly revised pace of 6.01 million in April, and are 10.3 percent below the 6.68 million-unit level in May 2006."

Los Angeles Times - "New Condos in South LA -- Or Is It South Central?" (6-25-07)

"Good Morning. "Hope Builds in South L.A.," says the headline in this morning's LATimes, above a story that raises some questions for us: --Is there a market for 150 new condos at $340,000 to $380,000 in this part of town? The developer calls it a 'rough area' where 'We have had drive-by s in the past.'"