Word: takings
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...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 purchases that would not have been made without the credit, Yun estimates. (See high-end homes that won't sell...
...Analysts expect a surge in home-buying activity in the coming weeks as Americans rush to take advantage of the tax-credit program before its April 30 contract deadline. (Under the 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...
...might take even longer for true strength to be evident in the housing market. "Recent estimates suggest that it would take about 33 months to clear all troubled mortgages at the current pace of liquidations," wrote Merrill Lynch analyst Michael Hanson in a recent note. Alex Barron, founder and senior research analyst at Housing Research Center LLC, has similar worries: "We need to be concerned about the homes that are significantly underwater but haven't yet defaulted," he says. "It may take another two, three or four years before we're well on our way towards a real recovery...
...Murphy wrote asking to be allowed to live out his life "in the dignity of my priesthood," noting his ill health and the years that had passed since the accusations. After about two years of back-and-forth arguments, according to the Times, Bertone told the Milwaukee Archdiocese to take "pastoral" rather than disciplinary action regarding Murphy. The priest died soon after, at the age of 72, and was buried in his clerical vestments...
...settled quietly on Wednesday. "But then why the front page for this story? They are targeting the Pope. There's a bloodlust for attacking the Catholic Church. We have to look at these cases one by one. There is plenty of embarrassment to go around: district attorneys, school teachers - take your pick...