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...down. The average rent in the U.S. fell 0.4% in the last three months of 2008, according to a survey of large apartment buildings in 79 metro markets by real estate analytics firm Reis. Even though landlords often find it tough to raise rent prices in winter months, the fourth quarter's decline is significant for being the first quarterly drop since the beginning of 2003. (See who's to blame for the financial crisis...

Author: /time Magazine | Title: Bright Spot in the Housing Crash: Cheaper Rents | 1/22/2009 | See Source »

...plane crash is not a natural time for optimism. But maybe it should be. The ditching of US Airways Flight 1549 in the Hudson River, coming in the dark of winter in a country short on confidence, was more revealing than it was astonishing...

Author: /time Magazine | Title: The Moment | 1/21/2009 | See Source »

...Note the simplicity of the words. This is a different Obama from the one who, full of himself last winter, filled his speeches with gaseous oratory like "We are the ones we've been waiting for." The personal transformation has been gradual, subtle - and the words have grown simpler as the economy collapsed and the full weight of office began to press in on him. The preternatural calm that seemed an attractive part of his personality during the primaries became his dominant trait in the general election - and the defining principle of his transition. He seems, in the modesty...

Author: /time Magazine | Title: Obama Promises New Destiny, Work Begins Today | 1/21/2009 | See Source »

...actions - policies that might have seemed impossible before the financial crash - across the board as quickly as possible. The quest for a national health-insurance system will debut with a major conference, bringing all the various players - including corporate America and the insurance companies to the table in late winter or early spring. The hope is that a bill to provide universal access, as promised during the campaign, will nudge its way through Congress by next fall. Also coming in the first half of the year will be a comprehensive environmental policy, including some tough decisions...

Author: /time Magazine | Title: Obama Promises New Destiny, Work Begins Today | 1/21/2009 | See Source »

America. In the face of our common dangers, in this winter of our hardship, let us remember these timeless words. With hope and virtue, let us brave once more the icy currents, and endure what storms may come. Let it be said by our children's children that when we were tested we refused to let this journey end, that we did not turn back nor did we falter; and with eyes fixed on the horizon and God's grace upon us, we carried forth that great gift of freedom and delivered it safely to future generations...

Author: /time Magazine | Title: Obama's Inaugural Address: The Full Text | 1/20/2009 | See Source »

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