The Los Angeles Times reports that 40 employees are left at Barratt American, down from 140. The company is surviving the downturn by doing reconstruction work in fire-damaged parts of San Diego and creating a custom homes division.
ForeclosureRadar.com reports that banks and lenders have foreclosed on $100 billion worth of California homes over the last two years.
You can get a small fry from McDonald's for $1, rent a movie from the Redbox for $1, and now buy a house for $1. In Detroit, a house located a couple blocks from Detroit City Airport is on the market for $1, reports the Detroit News. The house might sell for $1, but it will cost the bank $10,000 in commission fees, closing costs and taxes.
The FDIC reports that America has $2.6 trillion of uninsured deposits. Deposits in institutions equal $6.9 trillion, but only $4.2 trillion of that is insured. If your account is under $100,000 insurance limit, the FDIC's got your back. But if your deposits are over $100,000, wake up!
According to a poll by Harris Interactive and Move, 49 percent of adults consider green features such as solar panels and energy saving appliances to be more important than luxury amenities.
The construction industry is connected to half of all greenhouse gas emissions in the country, according to data from the U.S. Energy Information Administration. Residential buildings make up 21 percent of national energy consumption. Wow, they sure eat up a lot of energy (hint, hint).
The Miami Herald performed an eight-month study on Florida's mortgage lending industry and learned a few shocking surprises: the news outlet found that from 2000 to 2007, at least 10,529 people with criminal records were approved to work in the mortgage profession. Also noted: more than half who had committed fraud, bank robbery, racketeering and extortion cleared background checks.
California sets trends in every industry, from fashion to housing. It's currently the first state to adopt a statewide green building code. Will it become a trend too? The California Building Standards Commission will implement it in phases over three years; the first phase will begin July 1.