Housing

Developers and realtors in pockets of Southern California are channeling a new stream of South Korean investment money to stave off the slump that's hit much of the U.S. housing market. Lenora Chu has the story.

The Federal Reserve today put out a set of guidelines for subprime mortage lenders. The only thing is, the "standards" are voluntary. So, what's the point? Jill Barshay reports.

The downturn in the U.S. housing market may have ripple effects for the rest of the economy, but it's good news for folks looking for a summer rental as the holiday season comes to a head. Steve Tripoli reports.

The nation's second-largest homebuilder, Lennar Corp., said it lost money for the second-straight quarter. It also expects the housing market to get worse. Economist Christopher Mayer tends to agree.

Homeowners in some 21 states are holding their breath, hoping for reform that'll bring property tax relief. Four states have already slashed property taxes. But not everyone shares the joy, particularly schools and other local agencies that rely on tax dollars. Dan Grech reports.

The crisis in the subprime mortgage market continues to take its toll on Wall Street. Merrill Lynch will sell off the assets of two hedge funds that relied on subprime loans that are now going south. Amy Scott reports.

There's no shortage of ideas on how to deal with ailing borrowers and lenders. Fed officials heard some of them at a hearing in Washington. But the central bank's being urged not to overreact. Bob Moon reports.

JP Morgan Chase said today it's moving back to Lower Manhattan at the World Trade Center site. Officials hope it will lure other businesses to locate there, too. But Alisa Roth reports the bank didn't come cheap.

Once we get past stories about subprime mortgages and whether or not rising interest rates will sink real estate even lower, is there a way to bring the market back? Commentator John Vogel has a plan.

The sub-prime loan market collapse is tearing apart neighborhoods. But hedge fund managers are worried their insurance policies won't pay out if the federal government intervenes. Steve Henn reports.