January 2009
The Archives
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01.27.09Case-Shiller: Home prices crashingFrom CNN: An index of home prices in 20 major metropolitan areas fell at a record annual pace in November, to levels not seen since 2004, according to a report released Tuesday. The S&P Case-Shiller Home Price Index, a sampling of 20 cities from across the nation, fell a record 18.2% over the 12 months ended Nov. 30. That brought the index to its lowest point since February 2004. From its peak in mid-2006, the index has plunged a whopping 25.1%. Eleven of the 20 cities showed record declines, and the 12-month price drop for 14 of the cities was a double-digit percentage. "The ...
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01.26.09Home Depot to close Expo stores, shed 7,000 jobsSeen at The Consumerist: Home Depot is shuttering all of its Home Depot Expo stores, which turned out never to be much of a success anyway. Even with homeowners flush with equity-line cash, the stores apparently never really performed well. 7,000 jobs are to be eliminated. Look for killer discounts on Viking and Miele appliances! thinset, originally uploaded by IHP.
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01.26.09Existing home sales show surprise gainFrom CNN: The number of existing homes sold in December rose 6.5% from the previous month, according to a housing industry report released Monday. The National Association of Realtors said that home sales increased to a seasonally-adjusted, annualized rate of 4.74 million units. That's up from a revised 4.45 million units sold in November and more than the 4.4 million units projected by a consensus of industry analysts as reported by Briefing.com. Still, December's existing home sales are down 3.5% compared with December of 2007, when the seasonally-adjusted, annual rate was 4.91 million. and: The median existing home price was down 15.3% to $175,400 from ...
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01.07.09Porn industry seeks bailoutFrom CNN: Another major American industry is asking for assistance as the global financial crisis continues: Hustler publisher Larry Flynt and Girls Gone Wild CEO Joe Francis said Wednesday they will request that Congress allocate $5 billion for a bailout of the adult entertainment industry. “The take here is that everyone and their mother want to be bailed out from the banks to the big three,” said Owen Moogan, spokesman for Larry Flynt. “The porn industry has been hurt by the downturn like everyone else and they are going to ask for the $5 billion. Is it the most serious thing in ...