The country's growing unemployment is overtaking subprime mortgages as the main driver of foreclosures, making the foreclosure crisis far more complicated to unwind.
It's an unusually good time to be in search of a house rental in the Washington area. The supply is increasing as homeowners, not wishing to sell their homes, are offering them for lease.
It's the "ahhhh" factor that draws people to Harbor View and keeps them there. The waterside setting, pristine views and deep lots enhance this southern Fairfax County neighborhood.
With home equity lost to a burst housing bubble and homeowners strapped for cash, backyard swimming pools aren't making quite the splash they were three or four years ago.
11:19 AM
I can't muster much excitement over the news, reported by the Associated Press, that a customer of Wells Fargo has filed suit in an Illinois court against the lender, claiming it improperly reduced his home equity line of credit. The borrower, Illinois resident Michael Hickman, and his lawyers are trying to get class-action status for the suit. They say Wells Fargo inappropriately reduced credit lines using a faulty computer model and improperly notified borrowers of the change. Wells Fargo responded with a statement defending its lending models. Even if Hickman and his lawyers succeed with a class-action suit, borrowers who join such a suit would probably walk away with a pittance in compensation. By the time lawyers' fees and expenses are subtracted from most class-action settlements and the remainder is divided among all the members of the class, the settlement pie has been minced to crumbs. Regardless of the merits
Post Real Estate blogger Elizabeth Razzi answers your questions about the local housing market at 1 p.m. ET.
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