Word: droppings
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...improving forecast for nationwide home prices. Back in March, Deutsche Bank analysts had expected national home prices to decline 16.5%; now they foresee just a 14% decline. That mildly upbeat news does not hold true for the New York City area, however, which is expected to see a 40.6% drop. While that is also a slight improvement from the March forecast, it is dire nonetheless. (See photos of the global financial crisis...
...problem is not so much the financial-industry meltdown as it is an intense lack of affordability. As the report notes, metropolitan-area New York home prices peaked in the second quarter of 2007 at $552,000. By the first quarter of 2009, the median price had dropped 19%, to $446,000, but the market swoon was less than half the drop recorded in many other areas of the country. Today among the 10 biggest metropolitan areas, New York ranks as the least affordable...
...better of me, and I deserved to suffer the consequences. I also scolded all my friends and relatives who hadn't voted. When they complained about double-digit inflation, a real estate price hike of 150%, five-hour lines for gas (the government had botched a plan to drop gas subsidies), Internet censorship, government plans to facilitate polygamy and gender segregation in classrooms, I told them they were to blame, not Islamic theocracy. They had chosen not to elect a better leader. (Check out five reasons to be suspicious of Iran's election results...
...striking detail of the story is how Art and his wife would travel around the country and unload their fake bills by buying random supplies and souvenirs, getting real money in change. Then they donated those supplies to charity. They'd have all this extra stuff, and they'd drop it off at Salvation Armies and churches. That became as important to them as the money itself, that feeling of charity. He wasn't a greedy counterfeiter...
...were available on any corner, and the whole place was filthy; Harry Smith, the CBS news anchor, called the city "Calcutta without the cows." New York was nearly bankrupt, and the President was disinclined to help, provoking the Daily News to the decade's iconic headline, "Ford to City: Drop Dead." An army of the emotionally disturbed, evicted en masse from state mental hospitals, made cardboard-box homes on the streets. Graffiti festooned many tenement buildings and scarred the exteriors and interiors of the city's decrepit transit system. Sitting inside a subway car, with its garish scrawls, was like...