glut

After reporting a $344 million fourth-quarter loss, the memory chipmaker says it plans to cut executive pay 20 percent.

Federal Reserve Chairman Ben Bernanke this week said getting the housing problem sorted out is the key to turning around the economy.

But many buyers are waiting until the housing market bottoms out before stepping in. Millions of homes are unsold, and that glut is pushing prices lower.

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Just a few years ago, there was a rush to buy property in sun-drenched Lee County, Fla. Bidding wars were common for houses that hadn't even been built yet.

But those days are over, and the real estate market there is clogged with thousands of unsold homes. NPR's Jim Zarroli has the first in a two-part report on a county where more people are looking for ways to walk away from their property deals.

Home builder Lennar reported its fourth straight quarterly loss Thursday and warned that conditions in the battered housing market continue to worsen due to a glut of homes on the market and ongoing problems in the mortgage market.

Home builder Lennar reported its fourth straight quarterly loss Thursday and warned that conditions in the battered housing market continue to worsen due to a glut of homes on the market and ongoing problems in the mortgage market.

Last month, I reported that home sales in North and South Austin were doing well despite a down market from...

(via Texas Real Estate Blog)