Analysts are speculating that New Century Financial could be another casualty in the subprime mortgage market. How did the industry get in such a mess? Steve Tripoli reports it was step by reality-ignoring step.
Sub-prime lenders are suffering double-digit drops on Wall Street. Consumer advocates say it's the fallout of shady lending practices, and today they launched a national campaign to address the problem.
Even as the housing market continues its slide, depleted university budgets and an upward trend in student enrollment have built a profitable little investment pocket in some college towns.
New-home construction plunged 14% last month. Residential building is at a 10-year low. And January housing starts are down 38% over last year. Ashley Milne-Tyte reports on the housing market's search for the bottom.
The House has voted in opposition to President Bush's Iraq war plans, ending three days of speeches. Left unsaid, but not forgotten, was how to pay for the extra troops the president wants to deploy. Eric Niiler reports.
A major lender has announced it's going to stop making risky loans that help financially-stretched homebuyers pull together a down payment. That's likely to further weaken demand in the slumping housing market.