Housing

The markets seem to have calmed down a bit from the initial mortgage meltdown shock, but has the worst passed? Kai Ryssdal talked with financial strategist Richard Bove to get some guidance.

The Indian government wants to turn its financial capital of Mumbai into a world-class city. But what will it do with a notorious slum, the largest in Asia, and the people who live there? Miranda Kennedy reports.

Millions of American homeowners are now trapped in adjustable rate mortgages watching their monthly payments creep ever upward as options for refinancing dwindle away. We ask mortgage consultant Kassie Welch, what now?

It's amazing what a little extra cash can do. Word broke last night that Bank of America bought $2 billion of stock in ailing mortgage giant Countrywide Financial, and suddenly investors are feeling a bit rosier too. Amy Scott reports.

The mortgage industry can't come up with cash. Mortgage companies are laying people off — or worse, going bankrupt. But investors are smiling on one slice of the mortgage market, the good, old-fashioned thrift. Jill Barshay reports.

Relative calm has settled in the stock markets. But there are still some unsettling noises coming from the housing and mortgage industries. Recently, tens of thousands of people in the lending business have lost their jobs. Bob Moon reports.

The effects of the subprime crash and ensuing credit crunch have officially rippled over to home builders. Construction of new homes dropped 6.1 percent in July, falling to its lowest level in more than a decade. Amy Scott reports.

The housing bubble has burst and new home construction has slowed dramatically, but a new study shows that Hispanic construction workers have managed to keep finding work. Though maybe not as much. Dan Grech explains.

Kai Ryssdal got an invitation from Countrywide in his mail, urging him to apply for a 40-year mortgage. This piqued his interest, since Countrywide's reported to be teetering on the brink of bankruptcy. He got mortgage broker Seth Asher to explain.

Layoffs at Countrywide made headlines yesterday, even as the company took out full-page newspaper ads to say everything's going to be OK. Meanwhile, Capitol One decided to quit the wholesale mortgage business. We asked Ben Steverman for a reality check.