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...York City's big problem is not so much the financial-industry meltdown as it is an intense lack of affordability. As the report notes, metropolitan-area New York home prices peaked in the second quarter of 2007 at $552,000. By the first quarter of 2009, the median price had dropped 19%, to $446,000, but the market swoon was less than half the drop recorded in many other areas of the country. Today among the 10 biggest metropolitan areas, New York ranks as the least affordable...

Author: /time Magazine | Title: New York Home Prices Forecast to Drop 40% | 6/16/2009 | See Source »

...conduct of the election from opposition candidates, firing on crowds could have the exact opposite effect. As Trita Parsi noted below, those who protested today took to the streets despite warnings that live ammunition may be used against them. He believes they've lost their fear. And the problem for the authorities is that making martyrs out of demonstrators gives the protest movement its own momentum: regardless of the state of the investigation into the election, the victims have to be buried. Their funerals become the new locus of protest, and their killings are added to the theft...

Author: /time Magazine | Title: Iran Election: Khamenei Calls for National Unity | 6/16/2009 | See Source »

...take the fight beyond the tribal areas and mount perhaps even deadlier bomb attacks in Pakistan's heartlands. "They will try to paralyze the country by striking at the major cities and business hubs," says Khadim Hussain of the Aryana Institute, a research organization that focuses on the problem of militancy in the northwest. "The political government has to be aware of the potential fallout and be prepared for it." Hussain also says the fighting could lead to a further 1.5 million people being displaced, in addition to the nearly 3 million who already have been. But other observers...

Author: /time Magazine | Title: Pakistan Takes On Taliban Leader Mehsud | 6/16/2009 | See Source »

...still a relatively young guy, not even 40. What do you think the future may hold for him once he gets out of prison? I really, really hope he doesn't go back to counterfeiting. Art's a great guy with a huge problem. If you meet Art, you don't really feel like you're talking to a criminal. You feel like you're talking to a very bright guy, a very humble guy. But counterfeiters have a higher recidivism rate than heroin addicts - the crime gets in the blood that strongly. So telling myself "He's all done...

Author: /time Magazine | Title: The Art of Counterfeiting Money | 6/15/2009 | See Source »

...also explicitly denied Palestinians their greatest dream: the right of some 5 million Palestinian refugees to return to what is now Israel. "Justice and logic dictates that the problem of the Palestinian refugees must be solved outside the borders of the state of Israel. There is broad national agreement on this," he said to thunderous applause from a stage at Bar Ilan University. He also reiterated Israel's intention to keep a grip on Jerusalem, which Palestinians also want as their capital. The Palestinian reaction was unsurprising. Said Palestinian chief negotiator Saib Arekat: "In a thousand years, no Palestinian leader...

Author: /time Magazine | Title: Netanyahu, in Turnabout, Backs Palestinian State | 6/15/2009 | See Source »

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