Industry News

Bush dispenses housing market ‘hoopla’

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Bring it on W First American Title economist Chris Cagan said it first: the Bush Administration will save the housing market in 2004. No doubt, listen to the president for the clues. This week in a speech at a windy port in Charleston, S.C., President Bush interlaced his defense of the decision to go to war in Iraq with 30 seconds of hoopla about the housing market. He praised the climb in home ownership, the role the housing industry plays in the economy and the importance of the rising minority home ownership rate. It is nice to be in an industry that isn't just a robust part of the economy but the nation's central social policy. Bundle up, it's cold out there Mortgages and home sales go hand in hand like bread and butter. But recent trends show a fundamental divergence emerging. On one side, lenders and closers like ABN AMRO and First American are bundling mortgage packages to make the closing process simpler for buyers. On the other side, real estate franchises like Help-U-S...