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...only worrisome part about that is what happens if demand then falters. Nationwide, we've seen an uptick in the number of people buying houses - both existing homes and new ones. But still, according to the Oppenheimer report, "the demand side of the equation is less than impressive." Nearly a third of existing-home sales are currently to first-time homebuyers - a wildly disproportionate amount. What happens to those buyers once the $8,000 first-time homebuyer tax credit evaporates at the end of this year? Even with home prices a steal in many parts of the country, whether demand...

Author: /time Magazine | Title: Homebuilders Are Back At It — Should We Be Worried? | 8/11/2009 | See Source »

Still, so far H1N1/09 hasn't proved a serious killer. But as the U.S. prepares for an uptick in infections this fall, even a mild pandemic could overload a clogged health-care system. And there's no guarantee the virus won't get worse--the Spanish flu was relatively light in the spring of 1918, only to turn lethal that autumn. U.S. health officials said on July 29 that they hope to have 120 million doses of a new H1N1/09 vaccine ready by October, but the virus could change by then, or the vaccine might prove less than effective. Virologists...

Author: /time Magazine | Title: The Moment | 8/10/2009 | See Source »

...South Ossetian government claims the uptick in cross-border shooting is real and dangerous. "Practically every day, unfortunately, the Georgians are shooting into South Ossetia," says Alan Pliyev, the first deputy minister of the South Ossetian Ministry of Foreign Affairs. "They have been breaking the cease-fire organized by President Medvedev and French President Nicolas Sarkozy at the end of the war last year." Georgia has repeatedly denied shooting into South Ossetia and blames the Russian buildup for the rising tensions. (See pictures of the Russians in Ossetia...

Author: /time Magazine | Title: A Year After War, S. Ossetia More Dependent on Russia | 8/10/2009 | See Source »

...Angeles' $530-million budget shortfall. Police administration officials are considering imposing mandatory furloughs starting in October, the Los Angeles Times reported. In addition to a diminished police presence, severe cuts to health and social service programs, and education, will likely add to social woes and, thus, a possible uptick in crime. Because of such challenges, Bratton feels strongly that the next chief should be chosen from from within the department's own ranks. Says Bratton: "With the crises that the city is facing at this time with this budget, an outsider no matter how qualified or skilled, it's going...

Author: /time Magazine | Title: Why is Los Angeles Losing Its Police Commissioner? | 8/8/2009 | See Source »

...dirge has the same tune in Vegas. P. Michael Murphy, Clark County coroner and president of the International Association of Coroners and Medical Examiners, says he's seen a definite uptick in the number of indigent burials owing to financial hardship in the past several months. "Our investigators are seeing an increase in families who as part of the initial shock they're going through are verbalizing to us, 'What am I going to do? I can't pay the rent. My car is being repossessed,' or whatever. 'Our finances are at the very limit,'" says Murphy. "This problem used...

Author: /time Magazine | Title: Death in the Recession: More Bodies Left Unburied | 8/7/2009 | See Source »

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