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...Build America Bond program into February's $787 billion economic-stimulus bill, many predicted a flop. Nine months later, the municipal-bond program, which provides a federal subsidy to help states and other local governments raise funds, looks to be one of the economic recovery effort's biggest successes. Earlier this month, the volume of BABs, as they have come to be called, crossed the $50 billion mark...
Okinawans have long complained about noise, pollution and crime linked to U.S. troops. Many of them want the base moved off the island entirely and thousands protested over the issue earlier this month...
...economy is emerging from the global recession with such strength. But frothy increases in home prices are also fueling concerns that the property boom could turn into an unstable and dangerous bubble. According to government data, property prices in 70 cities rose 3.9% in October from a year earlier - the largest increase in 14 months. In 20 of the cities, prices jumped more than 1% from the month before. The phenomenon isn't limited to just a handful of wealthy cities on China's coast. Towns such as Nanjing, Kunming and Chongqing are experiencing price hikes as well. Though most...
...first 10 months of 2009 surged an eye-popping 144%, to $1.3 trillion, from the same period in 2008. The easy money policy has led to a fantastic increase in property deals - up 82% in October (by volume of floor space) from the same month a year earlier. There is also concern percolating that home prices in major cities are rising out of the reach of the average Chinese. Not only could that cause social discontent, it may also dampen consumption - which China's policymakers desperately need to increase. If families need to allocate more and more of their income...
...home prices, the headlines in China tell a different story. One local daily reports that in Shanghai on Oct. 30, more than 200 potential buyers crammed into the sales office of a new housing development, snapping up 120 of the 150 available apartments in just one night. Several weeks earlier in the central Chinese city of Wuhan, 300 people lined up to buy new apartments, some of them arriving two days before the sale. A picture in the local press showed eager customers who brought chairs and folding beds to camp outside the sales office with their families...