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Showing posts with label housing crisis. Show all posts
Showing posts with label housing crisis. Show all posts

Tuesday, March 29, 2011

Daily Update: March 29, 2011...Mars Rover, Home Prices Fall, Syrian Government Resigns, Radiation Expands To More U.S. States.


NASA: Mars rover, phone home after year-long sleep

By Alicia Chang, AP Science Writer

Posted 1h 18m ago |
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LOS ANGELES — The prospect of ever hearing from the stuck Mars rover Spirit is fading after it failed to respond to repeated calls from Earth.
Despite the dismal outlook, NASA will make a last-ditch effort to communicate with Spirit, which fell silent a little over a year ago. If there's still no contact in the next month or so, the space agency will scale back its listening campaign for Spirit and focus on its healthy twin, Opportunity.
That Spirit has not called home suggests that something is more seriously wrong than just a power issue, said program manager John Callas at the NASA Jet Propulsion Laboratory in Pasadena, Calif.

Home prices falling in most major U.S. cities

Published: Tuesday, March 29, 2011 7:35 a.m. MDT
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NEW YORK — Home prices are falling in most major U.S. cities, and the average prices in four of them are at their lowest point in 11 years. Analysts expect further prices declines in most cities in the coming months.
The Standard & Poor's/Case-Shiller 20-city index released Tuesday shows price declines in 19 cities from December to January. Eleven of them are at their lowest level since the housing bust, in 2006 and 2007. The index fell for the sixth straight month.

..."The housing market recession is not yet over, and none of the statistics are indicating any form of sustained recovery," said David M. Blitzer, chairman of the Index Committee at Standard & Poor's.

read more here: http://www.deseretnews.com/article/700122498/Home-prices-falling-in-most-major-US-cities.html?s_cid=t_share


Syrian government resigns

By the CNN Wire Staff
March 29, 2011 10:17 a.m. EDT

Click to play
Syrian cabinet resigns
STORY HIGHLIGHTS
  • NEW: The president plans to speak on Wednesday, a government spokeswoman said
  • NEW: A new government will be named Tuesday, a government spokeswoman said
  • The government has resigned, state TV reported
  • At least 37 people have been killed in demonstrations since last week, the U.N. says
(CNN) -- The Syrian government resigned Tuesday amid an unusual wave of unrest that has roiled the nation, state TV reported.
President Bashar al-Assad accepted the resignations Tuesday, the same day that tens of thousands of Syrians poured onto the streets of Damascus to demonstrate in favor of the government.
A new government should be named in a few hours, said Reem Haddad, a spokeswoman for the Syrian Information Ministry.
Meanwhile, the president plans to make "a very important speech" on Wednesday, she said. The speech will "reassure the Syrian people," the state-run SANA news agency has reported.
Japan's nuclear contamination spreads to more U.S. states

By the CNN Wire Staff
March 29, 2011 5:46 a.m. EDT
Very small levels of radiation from Japan have been detected in at least 15 states -- it's not a health concern, according to EPA.
Very small levels of radiation from Japan have been detected in at least 15 states -- it's not a health concern, according to EPA.
STORY HIGHLIGHTS
  • A growing number of U.S. states are affected, but none at levels that threaten public health
  • At least 15 states report detecting radioisotopes in air or water or both
  • "The levels detected are far below levels of public health concern," EPA says
(CNN) -- Minuscule levels of radiation from Japan's Fukushima nuclear plant incident have been detected in a widening number of U.S. states, but the Environmental Protection Agency reaffirmed this week that the levels represent no threat to public health.
"To date, data from EPA's real-time radiation air monitoring networks continue to show typical fluctuations in background radiation levels," Jonathan Edwards, director of the EPA's Radiation Protection Division, said in a statement Monday. "The levels we are seeing are far below any levels of concern."
At least 15 states reported detecting radioisotopes in air or water or both. No states have recommended that residents take potassium iodide, a salt that protects the thyroid gland from radioactive iodine.
... Hartsville, South Carolina, and Crystal River, Florida.
...Sensors in Maryland have also reported elevated levels of I-131 in air samples.
...The Massachusetts Department of Health said Sunday that a monitoring station in Boston detected I-131 in rainwater
....On Monday, Pennsylvania Gov. Tom Corbett said rainwater collected Friday from his state's nuclear power plant facilities contained low levels of iodine-131 
...Similar testing in other states, including California and Washington, has shown comparable levels of iodine-131 in rainwater samples.
...Trace detections were found in the air in Oregon, Colorado and California.
...n analysis from 12 monitors nationwide found "slightly higher" levels of radioactive isotopes in Alaska, Alabama, California, Guam, Hawaii, Idaho, Nevada, Saipan, the Northern Mariana Islands, and Washington state over the past week, the agency said.

Wednesday, January 26, 2011

Federal deficit to hit $1.5T

By ANDREW TAYLOR
THE ASSOCIATED PRESS
Updated: 11:04 p.m. Wednesday, Jan. 26, 2011
Published: 9:06 a.m. Wednesday, Jan. 26, 2011
 — Far from slowing, the government's deficit spending will surge to a record $1.5 trillion flood of red ink this year, congressional budget experts estimated Wednesday, blaming the slow economic recovery and last month's tax-cut law.
The report was sobering new evidence that it will take more than President Barack Obama's proposed freeze on some agencies to stem the nation's extraordinary budget woes. Republicans say they want big budget cuts but so far are light on specifics.
Wednesday's Congressional Budget Office estimates indicate the government will have to borrow 40 cents for every dollar it spends this fiscal year, which ends Sept. 30. Tax revenues are projected to drop to their lowest levels since 1950, when measured against the size of the economy.
The report, full of nasty news, also says that after decades of Social Security surpluses, the vast program's costs are no longer covered by payroll taxes.
The budget estimates will add fuel to the already-raging debate over spending and looming legislation that would allow the government to borrow more money as the national debt nears the $14.3 trillion cap set by law. Republicans controlling the House say there's no way they'll raise the limit without significant budget cuts, starting with a government funding bill that will advance next month.
Democrats and Republicans agree that stern anti-deficit steps are needed, but neither Obama nor his resurgent GOP rivals on Capitol Hill are — so far — willing to put on the table cuts to popular benefit programs such as Medicare, farm subsidies and Social Security. The need to pass legislation to fund the government and prevent a first-ever default on U.S. debt obligations seems sure to drive the two sides into negotiations.
Though the analysis predicts the economy will grow by 3.1 percent this year, it foresees unemployment remaining above 9 percent.
Dauntingly for Obama, the nonpartisan agency estimates a nationwide jobless rate of 8.2 percent on Election Day in 2012. That's higher that the rates that contributed to losses by Presidents Jimmy Carter (7.5 percent) and George H.W. Bush (7.4 percent). The nation isn't projected to be at full employment — considered to be a jobless rate of about 5 percent — until 2016.
The latest deficit figures are up from previous estimates because of bipartisan legislation passed in December that extended George W. Bush-era tax cuts and unemployment benefits for the long-term jobless and provided a 2 percentage point Social Security payroll tax cut this year.
That measure added almost $400 billion to this year's deficit, CBO says.
The deficit is on track to beat the record of $1.4 trillion set in 2009. The budget experts predict the deficit will drop to $1.1 trillion next year, still very high by historical standards.
Republicans focus on Obama's contributions to the deficit: his $821 billion economic stimulus plan, boosts for domestic programs and his signature health care overhaul. Obama points out that he inherited deficits that would have exceeded $1 trillion a year anyway.
The chilling figures came the day after Obama called for a five-year freeze on optional spending in domestic agency budgets passed by Congress each year.
Republicans were quick to blame Obama for the rising red ink. Rep. Jeb Hensarllng of Texas, chairman of the House Republican Conference, said the report "paints a picture that is more dangerous than most Americans could anticipate."
"What is our leader in the White House doing about it? Asking Congress to raise the debt ceiling, proposing new spending and sticking future generations with a multi-trillion dollar tab," Hensarling said.
Democrat Kent Conrad, chairman of the Senate Budget Committee, pointed to a problem lawmakers are sure to keep facing:
"When the American people are asked what they want done and to prioritize what they want, they want the deficits and debt dealt with. But when they are asked very specifically, will they support changes in Social Security, the polls say no. Changes in Medicare? The polls say no. Changes in defense spending? The polls say no."
"I would've liked very much if the president would have spent a bit more time helping the American people understand how really big this problem is," added Conrad, D-N.D.
Republicans are calling for deeper cuts for education, housing and the FBI — among many programs — to return them to the 2008 levels in place before Obama took office.

Wednesday, June 24, 2009

Housing Sales Drop

By ALAN ZIBEL, AP Real Estate Writer Alan Zibel, Ap Real Estate Writer –

WASHINGTON – New U.S. home sales fell slightly last month, in another sign that the housing market's recovery is likely to be gradual and prolonged.

The Commerce Department said Wednesday that sales dropped 0.6 percent in May to a seasonally adjusted annual rate of 342,000, from a downwardly revised April rate of 344,000. Sales were down nearly 33 percent from May last year.

The results fell far short of economists' forecast of a 360,000 sales pace, according to Thomson Reuters. However, many analysts think new home sales hit bottom in January and will increase gradually as the economy gathers steam.

The median sales price of $221,600 was up 4.2 percent from April, but down 3.4 percent from a year ago.

Still, houses are still sitting on the market unsold for months. There were 292,000 new homes for sale at the end of May, down more than 2 percent from April. At this sluggish rate of sales, that's a 10-month
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Saturday, February 28, 2009

Housing. Is it really that bad?

Just take a look at this video and then ask yourself if what is being asked from the U.S. Government is reasonable. Is it really that bad?