Real Estate
Countrywide Financial denies bankruptcy rumors (Reuters)
Reuters - Countrywide Financial Corp on Tuesday denied market speculation it might seek bankruptcy protection, after shares of the largest U.S. mortgage lender slid to their lowest level in nearly eight years. Read more…
Market flat as investors turn defensive (Reuters)
Reuters - Stocks were little changed on Tuesday as investors bought defensive shares such as utilities and food producers, offsetting the drag from financial companies and fallout from the mortgage market. Read more…
Bear Stearns may become takeover target amid unrest (Reuters)
Reuters - Bear Stearns Cos Inc's management shake-up could make the investment bank a takeover target, but the specter of more write-downs and possible legal entanglements from the subprime credit crisis might keep suitors on the sidelines, analysts said on Tuesday. Read more…
US pending home sales show further weakness (AFP)
AFP - US pending home sales fell 2.6 percent in November, data from the industry showed Tuesday, in a further sign of the struggles in the real estate market. Read more…
KB Home posts wider 4Q loss, shares fall (AP)
AP - KB Home, one of the nation's largest homebuilders, said Tuesday its fourth-quarter loss swelled as ongoing housing market woes led to fewer home sales and lower revenue, prompting the company to book charges to write down unsold inventory and for a tax allowance. Read more…
