Hedge fund buys 970 homes

Colony capital made a deal with the banks to buy 970 foreclosed homes. They made a deal with the govt to rent them out so the real estate market would not tumble. These homes are in Ca, nevada and az- the worst hit states. They paid an average of 112% of value. And...

Home prices rise in 20 big cities

The standard and poor/case shiller index showed that prices are rising when compared with last year even though there was a slight decline from last month. Home prices in LA are up 10.5% from the bottom and up 12.2% in San Diego. Coastal properties are the ones...