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House passes bailout bill Premium Content

By Glenn Roberts Jr., Friday, October 3, 2008.

In a 263-171 vote, the U.S. House of Representative today approved a massive spending plan -- voted down in an earlier form Monday -- that will supply hundreds of billions of dollars in a federal effort to ease the credit squeeze by buying up bad assets from financial companies.

President Bush signed the legislation shortly after the vote.  more...

Wells makes play for Wachovia

By Inman News, Friday, October 3, 2008.

Walls Fargo & Co. is the new suitor for Wachovia Corp., today announcing a merger agreement worth about $15.1 billion -- but Citigroup Inc., the financial services company that had planned to buy Wachovia in a deal announced Monday, is crying foul.  more...

New foreclosures triple in Los Angeles area

By Inman News, Friday, October 3, 2008.

New foreclosure auctions nearly tripled in the Los Angeles metro area, doubled in Seattle and rose about 60 percent in the New York City and Miami areas in the third quarter compared to the same quarter last year, real estate data company PropertyShark.com reported Thursday. Compared to second-quarter 2008, new foreclosure auctions rose 16 percent in New York City, 9 percent in Los Angeles and 2 percent in Seattle while dropping 5 percent in Miami.  more...

Sales continue to fall in Manhattan

By Inman News, Friday, October 3, 2008.

Manhattan home sales dropped 24.1 percent in the third quarter compared to the same quarter last year -- the third consecutive year-over-year quarterly decline, according to a report today.  more...