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...prices could be expected to fall even further. Major layoffs - there are more each day - keep downward pressure on home prices, since people without jobs are less likely to buy a house, or even to make the payments on the one they have. Foreclosures exacerbate the problem, as banks tend to sell repossessed properties on the cheap. December saw a surge in existing-home sales, especially out West, but 45% of those were distressed sales at discounted prices, according to NAR. (See which country has the best stimulus plan...
...People forced to economize by forgoing outings to restaurants will visit McDonald's to compensate, while lower-income people already frequenting McDonald's will tend to choose cheaper menu options there rather than giving it up," says Raphael Berger, deputy director of the consumer division at France's Research Center for the Study and Observation of Living Conditions in Paris. "McDonald's has successfully marketed itself as a festive and affordable dining option to young and less-affluent people. That is now starting to spread to other segments as people in most socioeconomic categories feel less affluent...
...renewing sectarian violence, which has fallen to its lowest levels since the U.S. invasion in 2003. The ambassador stressed the point again, saying insurgent forces in Iraq remained deadly and poised to reassert themselves. Moreover, Crocker said, a hasty departure of U.S. forces might deepen doubt among Iraqis, who tend to see the current security gains as fragile. "I think it would have a chilling effect on Iraqis," Crocker said...
...tour winds past the school's five water buffaloes. Their dung, as all 100-plus students already know, goes to a biogas system that extracts methane; the leftover waste gets fed to worms, creating a rich compost that goes back into the school's fields and gardens, which students tend. Other sustainable-energy solutions on campus include micro-hydropower and solar power...
...nationwide retailers like Walgreens and Target, Khubani says the number of TeleBrands products purchased in those stores are "way up," with TeleBrands' overall sales in 2008 nearly doubling since 2007. Of course, because such products are often manufactured overseas--the Snuggie, for example, is made in China--prices tend to be more consumer-friendly in a recession...