Word: worthely
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...most significant trouble with the real estate markets, both residential and commercial, is that the buyers have disappeared. They are not even making "low ball" offers. With real estate sales in gridlock, foreclosures and defaults become more likely. The incentives for owning a home worth much less than the mortgage are hard to identify. Some people simply walk out of their homes and mail their keys to the bank...
...there are strong arguments to thwart the doubters. Toxic assets may never be worth close to the government's purchase price. The most serious problem is that taxpayers may never see any return at all on that capital. That case cannot be made about land. Keeping up property owned by the government is employment worth creating because it hastens the time that the property can be viewed as valuable and salable. The federal government plans to rebuild monuments in Washington at an estimated cost of $400 million. This money might be better spent on maintaining real estate bought as part...
...legislation follows the passage of a similar law in Massachusetts this August that required the medical industry to publicly disclose gifts worth more than $50. The Grassley bill would make all research-related funding public as well...
...constitutional amendment this week that requires special elections to fill Senate vacancies. While special elections are often expensive and difficult to execute in a short amount of time, they are necessary to ensure that replacement senators are as responsive to their constituents as possible. Preserving democratic principles is well worth the extra trouble...
...Jared Diamond on the rise and fall of civilizations - one realizes the narrative has veered well past the claim that teachers shouldn't be saddled with a $20 million lawsuit every time a student decides to swallow a tack. The patient reader will likely find the intellectual detours worth hanging...