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  • Trump picks Pam Patenaude to serve as HUD deputy secretary

    Back in November, rumors began to emerge that the Trump administration was considering Pam Patenaude, who currently serves as the president of the J. Ronald Terwilliger Foundation for Housing America’s Families, to serve as the Secretary of the Department of Housing and Urban Development. That position ended up going to Ben Carson, but as it turns out, the President Donald Trump had plans for Patenaude all along: installing her in the true position of power at HUD – deputy secretary.

Home prices could dip another 7%: Barclays

Home prices could fall up to 7% by the end of the 2012 first quarter, Barclays Capital said Friday in a report to clients. Barclays also noted the worst-case scenario for a further home price collapse, where property value falls another 15 to 20% from current levels, is low. Fannie Mae's recent survey of a sample pool of Americans found that most of those surveyed believe home prices will fall another 1.1% over the next year. Home prices recently experienced a minor decline. In August, home prices decreased 0.4% on a month-over-month basis, the first monthly decline in four months, according to CoreLogic. Meanwhile, Clear Capital expects another home price dip is on the way. Home prices rose nationally 3.5% in the third quarter over the previous quarter, according to the latest home data index from Clear Capital. However, the  company also predicts another minor decline in home prices for the fourth quarter of 2011, and a continued slide through the end of the first quarter of 2012. Write to Kerri Panchuk.

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