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That forecast, gloomy as it is, still assumes the government is able to create economic-stimulus and foreclosure-prevention programs that work. If not, then home prices could be expected to fall even further. Major layoffs - there are more each day - keep downward pressure on home prices, since people without jobs are less likely to buy a house, or even to make the payments on the one they have. Foreclosures exacerbate the problem, as banks tend to sell repossessed properties on the cheap. December saw a surge in existing-home sales, especially out West, but 45% of those were distressed...
...crazy about her. He encouraged her" in her bid for the Senate seat, one close associate says of Ted Kennedy's relationship with his niece. "But using him as an excuse, as though things were on the downward spiral, is not going to be O.K. with him ... This will get in the way of health reform" - by suggesting that a key legislator involved in putting the bill together may be incapacitated...
...Well, add one more reason to spite Ronald: as the global economy spirals downward, McDonald's is minting money. The company addicts us to its food, and now it's making out on our misery? But maybe it's time to change our attitudes about the Golden Arches. What may be bad for the waistline may be good for the wallet. In these tough times, those $3.50 Big Macs never tasted so good. (See the evolution of McDonald's fine-food chain Chipotle...
...Comparing then and now: In 2004, following the NEA's publication of Reading at Risk, a report on its 2002 survey that identified a downward trend in American literacy, critics attacked the agency for publicizing "alarming national survey results." Evidently the NEA views its latest report as a validation of its efforts. "Our belief, then and now, was that the first step towards solving a problem was to identify and understand it," the agency's chairman, Dana Gioia, says in the report's preface. One of the most significant areas of progress involves the reading habits of young adults (ages...
Researchers predict the region's economic recovery will last at least seven years - far beyond the expected end of the national recession sometime in 2010. Even so, there will be some downward pull from the U.S. economic slump. In 2009, for instance, they expect some 8,000 jobs to be added here, a figure that will drop to 6,500 jobs in 2010. "While the rest of the United States is in a deeper recession than anyone expected, we're certainly in a better place - we are an economy that's still looking for workers," says Janet Speyrer, associate dean...