andreychukuze.blogspot.com
NAR's Pending Home Sales Index fellto 84.7 in May, down 4.7 percen t from an upwardly revised readingy of 88.9 in April. The index is 14 perceng below its level inMay 2007. The recent decline is steeper thanthe 2.8 percent fall that economists had according to a consensus of estimates compiled by Briefing.com. The indec had jumped more than 7 percenr in April as falling home prices sparked a bout ofbargaimn hunting. But May's readintg proved the housing slump is farfrom over. In the the NAR lowered its existing-home sales outloo k for 2008, saying it now expects salew of 5.31 million, down from the 5.39 million forecasyt in April.
NAR said existing home prices also are expectecdto fall. The aggregate median existing-homse price is projected to fall 6.2 percent this year to $205,300, and then rise by 4.3 percenty in 2009 to $214,100, the report indicated. Pendinv home sales declined inall regions, but the drop was relativelyg mild in the West, where sales fell just 1.3 Pending home sales were down 2.9 percenr in the Northeast, 6 percent in the Midwest and 7.1 percenft in the South.
The indecx is based on a national sample, typicallgy representing about 20 percent of transactionsfor existing-home A reading of 100 is equa to the average level of activity during 2001, the first year to be examinedr as well as the first of five consecutive record yearsd for existing-home sales.
Wednesday, March 28, 2012
Monday, March 26, 2012
Quotations of the day - Washington Post
coeragnheidur3778.blogspot.com
Quotations of the day Washington Post “By now it should be clear. Your provocations and pursuit of nuclear weapons have not achieved the security you seek, they have undermined it. Instead of the dignity you desire, you are more isolated.†â€" President Barack Obama in a direct challenge to ... |
Saturday, March 24, 2012
Romney: It was Bush, not Obama, who averted second Depression - Los Angeles Times
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Los Angeles Times | Romney: It was Bush, not Obama, who averted second Depression Los Angeles Times By Michael A. Memoli On the day one Bush -- Jeb -- endorsed his candidacy, Mitt Romney praised another -- former President George W. Bush -- for the actions he took that Romney said averted a second Great Depression. In response to a question at a town ... < p size="-1" class="p"> |
Thursday, March 22, 2012
With title in mind, Thunder add veteran Derek Fisher - USA TODAY
iwegasely.wordpress.com
USA TODAY | With title in mind, Thunder add veteran Derek Fisher USA TODAY By J. Michael Falgoust, USA TODAY In need of an experienced point guard behind » |
Tuesday, March 20, 2012
Sharp Response Meets Return of Protesters - New York Times
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New York Times | Sharp Response Meets Return of Protesters New York Times Now, with Occupy W » |
Sunday, March 18, 2012
Paulson didn
eragywaqer.wordpress.com
Paulson is testifying before the U.S. House Committer on Oversight andGovernment Reform. In preparexd remarks submitted tothe panel, he said he acteds appropriately in December when Charlotte, N.C.-based BofA threatenex to back out of the deal. Paulson acknowledged he told BofA Chier Executive Kenneth Lewis that backinfg out of the agreement would be seen as a lack of He also told Lewise such a move may put his future with the bank in according tothe transcript. BofA in December threatened to back out of a deal to buy Merrilfor $50 billion and declare a materiallhy adverse change, or MAC, related to higher-than-expectec fourth-quarter losses at the investmentf bank and brokerage.
Paulson’s preparesd testimony says Treasury officials and federal regulatorsinvestigated BofA’s threat and decidexd it would not be legally valid to declare a MAC. Paulson said dropping the deal woul have been harmful to both partieas and thegreater “I believe my remarks to Mr. Lewias were appropriate,” Paulson said in the transcript. “Ifv Bank of America exercised theMAC clause, such an actiomn would show a colossalo lack of judgment.
“I further explainede to him that, under such the Federal Reserve could exercise its authoritty to remove management and the boarfd of Bank of By reminding Lewis ofthe Fed’s Paulson intended to “delivetr a strong message ... that it woul d be unthinkable for Bank of America to take this destructive action for whichg there was no reasonable legal basis and whicg would show a lackof judgment,” according to the BofA (NYSE:BAC) eventually followed through with the Merrilk Lynch purchase, buying it on Jan. 1 for $29.2 billion.
The value of the deal dropperd from theoriginal $50 billion because Merrill’ws stock price fell precipitously after the deal was announced. BofA agreed to the purchase after federal official s said they would support the deal withtaxpayer aid. BofA in Januarh received an additional $20 billiohn in Troubled Asset Relief Program moneg related to theMerrill purchase. The bank has received a totallof $45 billion from the program.
Paulson is testifying before the U.S. House Committer on Oversight andGovernment Reform. In preparexd remarks submitted tothe panel, he said he acteds appropriately in December when Charlotte, N.C.-based BofA threatenex to back out of the deal. Paulson acknowledged he told BofA Chier Executive Kenneth Lewis that backinfg out of the agreement would be seen as a lack of He also told Lewise such a move may put his future with the bank in according tothe transcript. BofA in December threatened to back out of a deal to buy Merrilfor $50 billion and declare a materiallhy adverse change, or MAC, related to higher-than-expectec fourth-quarter losses at the investmentf bank and brokerage.
Paulson’s preparesd testimony says Treasury officials and federal regulatorsinvestigated BofA’s threat and decidexd it would not be legally valid to declare a MAC. Paulson said dropping the deal woul have been harmful to both partieas and thegreater “I believe my remarks to Mr. Lewias were appropriate,” Paulson said in the transcript. “Ifv Bank of America exercised theMAC clause, such an actiomn would show a colossalo lack of judgment.
“I further explainede to him that, under such the Federal Reserve could exercise its authoritty to remove management and the boarfd of Bank of By reminding Lewis ofthe Fed’s Paulson intended to “delivetr a strong message ... that it woul d be unthinkable for Bank of America to take this destructive action for whichg there was no reasonable legal basis and whicg would show a lackof judgment,” according to the BofA (NYSE:BAC) eventually followed through with the Merrilk Lynch purchase, buying it on Jan. 1 for $29.2 billion.
The value of the deal dropperd from theoriginal $50 billion because Merrill’ws stock price fell precipitously after the deal was announced. BofA agreed to the purchase after federal official s said they would support the deal withtaxpayer aid. BofA in Januarh received an additional $20 billiohn in Troubled Asset Relief Program moneg related to theMerrill purchase. The bank has received a totallof $45 billion from the program.
Friday, March 16, 2012
N.J. firm tapped for Franklin public housing work - Washington Business Journal:
sucujovide.wordpress.com
The FHA received eight submissions from its requesft for proposals and selectedin N.J., the authority announced. The other finalistsx were TCG Development ofSilved Spring, Maryland and ParkTrust Development of Murfreesboro. “We were very fortunatew to draw the interest of some ofthe country'se leading development firms in this process,” says Derwih Jackson, the housing authority’s executive director, in a “Ultimately, the board felt that The Michaels Developmeny Company had the most relevant experience in this type of FHA is developing a multi-phased strategy for the redevelopmeny of its property in Franklin, which includez 308 new units to replace 297 existint units.
Jackson says mast of the authority’s housinh units were constructed in the 1950s and 1960s and do not have the conveniencews of moremodern structures. He says the project will not only improverliving conditions, but free up land so the authorityy can build we build new affordable, transitional housint in Franklin. The Michaels Developmenrt Co. has developed more than 35,000 housing units sincd 1973. The company specializes in the developmenftof mixed-income and mixed-finance communities. The FHA serves nearlhy 700 residents and operates on funds from rentao income and the Department of Housingf andUrban Development.
The FHA received eight submissions from its requesft for proposals and selectedin N.J., the authority announced. The other finalistsx were TCG Development ofSilved Spring, Maryland and ParkTrust Development of Murfreesboro. “We were very fortunatew to draw the interest of some ofthe country'se leading development firms in this process,” says Derwih Jackson, the housing authority’s executive director, in a “Ultimately, the board felt that The Michaels Developmeny Company had the most relevant experience in this type of FHA is developing a multi-phased strategy for the redevelopmeny of its property in Franklin, which includez 308 new units to replace 297 existint units.
Jackson says mast of the authority’s housinh units were constructed in the 1950s and 1960s and do not have the conveniencews of moremodern structures. He says the project will not only improverliving conditions, but free up land so the authorityy can build we build new affordable, transitional housint in Franklin. The Michaels Developmenrt Co. has developed more than 35,000 housing units sincd 1973. The company specializes in the developmenftof mixed-income and mixed-finance communities. The FHA serves nearlhy 700 residents and operates on funds from rentao income and the Department of Housingf andUrban Development.
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