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...good" news in the housing market is that more homes are selling. The number of existing homes sold in May was 2.4% higher than the number sold in April, which itself was higher than the number sold in March. (Those figures, from the National Association of Realtors, are annualized and seasonally adjusted.) Yes, prices are still falling, thanks largely to foreclosures and short sales, but at least the market is starting to show signs of life. New data from the S&P/Case-Shiller 20-city home-price index indicate that home prices in April dropped less than they did in March...
...keep interest rates low - like buying up mortgaged-backed securities from Fannie Mae and Freddie Mac - but loans over a certain size are often exempt. The rates on "jumbo" loans (generally those that run about $417,000) have historically been about .25 percentage points higher than on regular mortgages. That spread jumped all the way up to 180 basis points last fall, according to data-tracker HSH Associates - but has since settled down to about 100. Still, that's a big added expense. Plus, consider that for houses worth more than $1.5 million or so, banks are likely to look...
...Most city officials said that although the warmer months usually bring a higher rate of crime and violence, this year’s sudden uptick in shootings and stabbings has been uncommon...
...deficit's size, however, depends on your expectations. “We are operating on the assumption that in a couple of years the economy will come back,” Handley admited. In that case, legislators will be able to lower taxes. This assumption is reasonable, but risky. Higher taxes will scare businesses from Connecticut, slowing the recovery. And when the economy rebounds, stuffed coffers will tempt legislators to spend even more...
...about 40,000 North Koreans. The zone has been a major source of trade for North Korea, but that hasn't stopped Pyongyang from threatening its operations. In May, North Korean officials said that all contracts regarding the South Korean companies in the park were nullified. Pyongyang is demanding higher wages for workers and other payments that could threaten the park's very existence by making it too costly for South Korean factories to operate there. (Read "North Korea: The Coldest...