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Perhaps most unsettling is that cracks are emerging in the Midwest, a region supposedly insulated from real estate madness. In Glen Ellyn, Ill., a suburb of Chicago, Deb and John Tritt have tried to unload their house for seven months. They've spruced up the place, knocked $58,000 off the price, to $739,000, and offered a week at their Hawaii time-share to an agent who delivers an offer. None of it has paid off, and two more houses in the neighborhood are for sale. "We're moving to a town home," says Deb, "and the only saving...

Author: /time Magazine | Title: The Boom Is—Is Not!—Over: The Great Real Estate Debate | 8/6/2006 | See Source »

Nonetheless, other buyers remain convinced that their nest is a good investment, not just a place to live. Mary Trujillo and her husband Jay just moved from a home in Houston to Naperville, Ill., where they bought a split-level ranch for $290,000. They're spending nearly twice as much on the new place and netted only $10,000 from the sale of their Houston home--after owning it for five years. "I think I have a better chance of making money off this house," says Mary. Call it the American dream...

Author: /time Magazine | Title: The Boom Is—Is Not!—Over: The Great Real Estate Debate | 8/6/2006 | See Source »

...owners and beaten to death with sticks on the spot. China's official news agency has reported that up to half a million more dogs are expected to be exterminated in a separate cull over the next few days. "China's slaughter of dogs is a disproportionate, inhumane and ill response to rabies. It is a waste of life and dollars," said Wayne Pacelle, President and CEO of the Humane Society of the United States. "This policy is based on ignorance and lack of understanding of rabies and how it spreads...

Author: /time Magazine | Title: The Chinese Media's Pet Cause | 8/5/2006 | See Source »

...kind of strategically coherent, longer-term vision we've seen in the past. But the Bush Administration isn't saying that. It is calling it all part of the war on global terrorism, which is nonsense. And that, in turn, is throwing into stark relief just how confused and ill-conceived the global war on terrorism has been from the start...

Author: /time Magazine | Title: Why the Middle East Crisis Isn't Really About Terrorism | 7/31/2006 | See Source »

President Bush watched Gonzalez, himself an immigrant Army vet, swear in the three new soldier-citizens last week. Specialist Sergio Lopez, originally from Mexico City, moved to Bolingbrook, Ill., in 1998, and joined the Army in 2003. "He put his life on the line each day driving between observation posts and his unit's forward operating base in the Baghdad area," Bush said at the ceremony. Ten days into his second tour of Iraq in January, Lopez, 24, lost both of his legs to a roadside bomb. "There's no better way to prove that you want...

Author: /time Magazine | Title: The Fast Track | 7/31/2006 | See Source »

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