Housing

Housing costs have risen so high in some cities that entire regions are out of reach for most first-time home buyers. And in those areas, it's becoming a slow drain for the economy as a whole.

So far the rental market hasn't really been affected by the subprime mortgage crisis. But as more struggling homeowners are forced to return to the rental market, it's bound to impact prices and availability.

A new report predicts the housing market will suffer greater fallout yet from the collapse of the subprime mortgage market. UCLA's Anderson Forecast says some non-subprime mortgages now appear unstable.

Faced with broad fallout from a weak economy and a widespread foreclosure crisis, Ohio is putting up state-backed bonds to provide a pool of refinancing money to help some struggling homeowners.

Bankruptcy could be just around the corner for New Century Financial, but other lenders are making money buying and selling subprime loans it issued — a profitable fee-collecting game as long as they unload the loans before borrowers default.

Fed Chairman Ben Bernanke was on Capitol Hill today, where everybody wanted to know whether he thought the subprime market will torpedo the rest of the economy.

Some analysts are now saying publicly what others have been thinking: There's got to be a wider economic impact before the housing slump is over. Amy Scott reports.

As some economists worry that U.S. housing troubles could trigger a full-scale global financial crisis, Britain's home builders are still enjoying a robust market. And now two of the biggest are joining forces.

New home sales fell in the first quarter, according to the Commerce Department. But as Janet Babin reports, in order to understand the housing market, there's a bigger picture to consider.

Realtors and sellers have discovered online video sites as a powerful new tool in a housing market that's increasingly friendly to buyers — and it's a trend that's saving everyone time.