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Home prices were down nearly 20% at the end of last year, according to two new reports. But there is plenty of further room to fall, say economists who forecast where the housing market is headed. The median sales price of existing homes fell to $175,400 in December, down...

Author: /time Magazine | Title: Housing Prices Keep Dropping. And They're Not Done Yet | 1/28/2009 | See Source »

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...

Author: /time Magazine | Title: Housing Prices Keep Dropping. And They're Not Done Yet | 1/28/2009 | See Source »

But sentimental attachment won't fix the problems the country faces today. A feeble pound should eventually give Britain's depressed exporters a boost, but that might not happen until 2010. Because the downturn is global, most manufacturers expect export orders to fall further in the coming months, according to...

Author: /time Magazine | Title: The Proud Pound's Fall from Grace | 1/27/2009 | See Source »

In Washington, the Obama Administration responded positively to Bolivia's vote. Responding to a reporter's question, acting State Department Spokesman Robert Wood said, "we congratulate the Bolivian people on the referendum... we look forward to working with the Bolivian Government in ways we can to further democracy and prosperity...

Author: /time Magazine | Title: Bolivia's Revolutionary New Charter | 1/27/2009 | See Source »

The challenge facing Holbrooke is underscored by two Predator drone attacks on villages in North and South Waziristan on Friday that killed some 15 people, dashing Pakistani hopes that the Obama Administration would end the U.S. attacks on militant targets inside Pakistan, which Pakistani military spokesman Athar Abbas calls "counterproductive...

Author: /time Magazine | Title: Pakistan: A Mounting Problem for Obama | 1/26/2009 | See Source »

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