New Orleans Is Fastest Growing City in U.S.
The population of New Orleans grew 8.2 percent in 2008, faster than any other large city in the U.S., according to the latest population estimates released by the U.S. Census Bureau. The city’s population was 311,853, up from 210,768 following Hurricane Katrina in 2006 but still below pre-hurricane level of 484,674 based on the 2000 [...]
Boston Fed: lenders fear re-defaults
Researchers at the Boston Fed recently concluded that a pair of reasons lie behind a reluctance on the part of mortgage lenders to renegotiate troubled loans. One reason is the fear that borrowers will just end up having trouble making payments again, the researchers conclude in a new report. Another reason: Bankers think some people [...]
Construction company files for bankruptcy
A Boston construction company has filed for bankruptcy under Chapter 7, which can result in liquidation of assets to pay creditors. Hallmark Construction Inc., of 80 Beacon St., listed assets of $69,000 and liabilities of $3.6 million in its bankruptcy petition. The assets consisted almost entirely of money owed by a company called Hallmark Properties, [...]
Pending Home Sales Continue Positive Trend
The Pending Home Sales Index — a forward-looking indicator based on contracts signed — rose 0.1 percent in May from April, and it was 6.7 percent higher than May 2008, NAR announced this morning. It is the fourth consecutive month that the pending home sales index posted a monthly gain, which NAR attributes to the [...]
Pace of Home Price Decline Slows
The pace of decline in U.S. home prices was not as severe in April as it was in March, according to the latest S&P/Case-Shiller Home Price Index, which was released this morning. The index’s 10-city and 20-city composites declined 18.0 percent and 18.1 percent, respectively, in April compared to April 2008. Both indices had reported [...]
