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...shaking in its boots yet, but permanent dominance in American sportswear is never a shoo-in. When Li Ning opened its Portland retail store to the public for an hour on Feb. 15 for its grand opening, sneaker heads lined up for five hours to be among the first to own a pair of BD Dooms, basketball shoes named after NBA point guard Baron Davis. Jay Li admits they lined up "not because of Li Ning but because we have a world-class basketball shoe." (It probably also helped that Baron Davis himself was in the store giving autographs.) Priced...
...stabilized enough to continue rebounding on its own, albeit at a painfully slow pace. "It's not going to look like a V-shaped recovery in the housing market. It's going to be one flat, long hockey stick, with anemic growth," says Mark Fleming, chief economist at First American CoreLogic...
...other expiring program - the federal home-buyer tax-credit program, which offered an $8,000 credit to first-time home buyers - was so successful at luring home shoppers into the decimated market last year that the government extended it into 2010 and expanded it to include a $6,500 credit for non-first-time buyers. About 2 million families used the credit in 2009, and an additional 2.2 million to 2.4 million will take advantage of it this year, according to Lawrence Yun, chief economist with the National Association of Realtors. Approximately 800,000 of the transactions have involved home...
...program, a contract must be signed by April 30 and the home closed by June 30.) Expect lobbying efforts calling for the credit to be extended a second time to escalate as the expiration date draws closer - similar to what happened in the weeks leading up to the first expiration date. But not all experts are on board. Jay Brinkmann, chief economist with the Mortgage Bankers Association, says he would not like to see the program extended a second time. "They work best if they're somewhat rare and short-lived," he says of such programs...
...avalanche of specialized adjustable-rate mortgages, known as option ARMs, as well as certain alt-A mortgages, to reset over the next 12 to 15 months. At least $60 billion in option ARMs will reset in 2010, and an additional $64 billion will do so in 2011, according to First American CoreLogic. Experts say this will likely trigger another round of mortgage defaults and foreclosures in the second half of 2010 and cause home prices to fall another 5% to 10% this year before the market bounces back...