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North America, Real Estate Timeline Tuesday, August 26     Author
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US lawmakers pass housing rescue

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    Business (393)
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            North America

                2007 (5)
                2003 (2)
                2002 (3)
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Senate approves housing bill
Jul.26   U.S. Congress
  The Senate has approved a $300bn rescue fund designed to prop up battered housing market. It may also be used to bail out the mortgage giants
Jul.23   U.S. Congress
  The House of Representatives has passed a massive housing rescue bill that could help struggling homeowners get cheaper loans
Jul.11   USA Mortgage firms' shares slump
  Shares in Freddie Mac and Fannie Mae have fallen by more than 40% in early trading amid concerns for the future of the companies
Jun.19   FBI FBI holds 406 for mortgage fraud  The Justice Department was pursuing 144 cases. The arrests include estate agents and loan originators, who help homebuyers to take out loans Mar.26   USA U.S. home prices brace for dismal spring  Home prices plunged by record levels from a year ago, with almost no major cities immune from the spiraling market Feb.26   Southern California Jackson faces Neverland auction  Pop star Michael Jackson could lose his ranch if he fails to pay nearly $25m that he owes on the sprawling property

year 2007 Top ^

Dec.6   Washington   Bush details housing rescue plan
  The President has outlined plans to freeze rates on sub-prime mortgages for 5 years to help people hit by the housing market crisis
Oct.17   USA Further fall in home building  The number of homes being built in the US fell by 10.2% in September, worse than had been expected. Applications for building permits down 7.2% Oct.15   USA Banks plan fund to revive market  Some of the US's largest banks have announced plans to form a $75bn fund to support the ailing market for sub-prime debt Aug.9   New York Mortgage concerns hit US markets
  The share indexes tumbled amid fears that a wobble in the mortgage market may prompt a global credit crunch. Dow Jones fell 199.24
Fans receive final Potter book

year 2003 Top ^

Feb.26   New York New WTC plan is chosen  A complex of angular buildings and a 1,776-foot spire were designed by architect Daniel Libeskind Feb.4   New York World Trade Center finalists chosen  2 plans would create the world's tallest structure. Libeskind and the international Think team are behind the plans

year 2002 Top ^

Strike strangles oil exports Jul.21   New York Public pans WTC plans  Thousands of huddled around tables to give their opinions of the rebuilding plans for the World Trade Center site Jul.16   New York Ground Zero plans unveiled  The first plans for redeveloping the site where the World Trade Center stood have been made public

year 2001 Top ^

Mar.1   Seattle Seattle avoids widespread damage  Preparation and luck helped the region escape widespread devastation



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