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...oracle," says Ken Doctor, a news-industry analyst for Outsell. "He could be trying to be the pied piper." The New York Times, which in the past has experimented with charging for online content, is expected to make an announcement about a new fee model at the end of summer. In the days that followed Murdoch's announcement, the Financial Times, which charges for some content, and the Boston Globe dropped hints that they were looking into different payment schemes. Time Inc. has raised the possibility of charging for content. Even Mort Zuckerman, who owns Murdoch's New York City...
...existing homes for sale has fallen over the past year, but we still have a 9.4-month supply on the market - nearly double the rate that's desirable. With desperate homeowners trying to sell, and foreclosures still piling up, are more houses what we need? (See pictures of high-end homes that won't sell...
...about new houses are a little misleading. Yes, new-home activity is picking up, but that's partly because a lot of the excess inventory from the boom has been cleared out, and builders are now looking at emptier coffers than they have in a long while. Since the end of 2007, builders have been selling more houses than they've been putting up. In the first three months of 2009, there were 52,000 single-family homes started. Over the same period of time, 87,000 were sold. At the current rate of sale, all the new homes...
...according to the Oppenheimer report, "the demand side of the equation is less than impressive." Nearly a third of existing-home sales are currently to first-time homebuyers - a wildly disproportionate amount. What happens to those buyers once the $8,000 first-time homebuyer tax credit evaporates at the end of this year? Even with home prices a steal in many parts of the country, whether demand will hold up - especially with the countervailing force of tighter credit - is a real question mark. (Read: "Home Sales Perk Up, but Expensive Houses Languish...
Despite the fact that, in Web time, July 2010 is an eternity from now, Murdoch clearly felt the need to do something quick. He made the announcement while discussing News Corp.'s dire year-end results: his empire took a stinging $203 million loss in the fourth quarter, and operating income was down 30% for the year. All in all, the company swung from a $5.34 billion profit the year before to a $3.38 billion loss in the fiscal year that just ended. Murdoch cares little for Wall Street, but he knows his investors need to have confidence that...