Word: fall
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Dates: during 2000-2009
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...probably not done yet. "Our outlook is that home prices will continue to fall, bottoming by the end of this year, but it won't be until the end of 2010, maybe even 2011, that we'll see steady price gains," says Celia Chen, an economist at Moody's Economy.com. Chen and her colleagues predict that home prices, as measured by Case-Shiller, are due to drop some 30% from their early-2006 peak. We're only about two-thirds of the way there. (See pictures of Americans in their homes...
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...
...pass President Obama's stimulus package and, as soon as possible, a national cap-and-trade bill for carbon emissions - a prerequisite to leading negotiations in Copenhagen. If the U.S. takes on carbon restrictions of its own, Gore argued, major developing nations like China and Brazil are ready to fall in line. The Kyoto agreement gave developing countries a free pass to keep emitting carbon - a key reason the accord failed in the U.S. Senate - but Copenhagen will be different, because the world is now different. "The scientific consensus is far beyond what it was 10 years ago," said Gore...
...Former New England Journal of Medicine editor Arnold S. Relman, who participated in the student protest last fall and is a long-time advocate of independence from industry in medical education, added that he supports the proposed legislation...
...Pharmaceutical industry ties have been a particularly hot issue at the Medical School this past year, prompting student protests last fall over the level of disclosure for professors receiving money from medical corporations, and bringing HMS national scrutiny this summer, when Grassley reported that psychiatrist Joseph Biederman of Harvard-affiliated Mass. General Hospital received $1.6 million in consulting and speaking fees from the makers of drugs he used to treat children for bipolar disorders...