Friday, April 30, 2010
Wednesday, April 28, 2010
Friday, April 23, 2010
The blacked-out portions of a subpoena request filed by lawyers for former Illinois Gov. Rod Blagojevich -- which were revealed through a simple computer trick -- suggest President Obama may have played a role in finding his own Senate replacement.
Thursday, April 15, 2010
Cities in the "Sand States" of Florida, California, Arizona and Nevada, where overbuilding was rampant, are also in trouble, claiming nine of the top 10 spots in our list of cities in free fall. In Las Vegas, Riverside, Calif., and Phoenix, median home prices have fallen 50%, 44% and 37% from their respective peaks. Jobs are vanishing. Though country-wide, employers added 162,00 jobs last month, Riverside gained 13% fewer jobs in February 2010 (the latest numbers available by metro) than it did the same month three years earlier. Tampa, Fla., saw a 10% drop, and Los Angeles added 9% fewer jobs over the same time period.
These cities are also slow to absorb their glut of unsold foreclosed homes, keeping recovery at bay.
"These were highly speculative housing markets," says Jonathan Miller, president of Miller Samuel, a Manhattan-based real estate appraisal firm. "In the markets that have unloaded a lot of foreclosed housing stock there's still a lot more coming."...
... "In California, so many jobs were concentrated in construction," says Michael Fratantoni, vice president of research at the Mortgage Bankers Association, the professional association for real estate financiers. "Jobs building single family homes wound up not being sustainable, and there were a lot of job losses."
Tuesday, April 13, 2010
Thursday, April 08, 2010
Tuesday, April 06, 2010
Monday, April 05, 2010
President Obama literally edited Christ out of his "holiday greeting" today when he excerpted a sermon given by a military chaplain on Iwo Jima on Easter Sunday 1945.