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These are the top housing news stories selected by the editor of
KnowledgePlex®.
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Quarterly Workshop Helps Aspiring Homeowners
The Mon Valley Initiative is working to help bring aspiring homeowners in southwest Pennsylvania closer to their dreams. Through individual counseling and quarterly workshops, Mike Mauer, a housing counselor with the initiative, shows families how to improve their credit to qualify them for mortgages so they can ...
Pittsburgh Post-Gazette (Pennsylvania) | November 20, 2008
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Housing Starts and Permits at Record Lows
Housing starts and permits, both of them key measurements of home construction, hit record lows in October, the Commerce Department reported Wednesday. Housing starts reached an annual rate of 791,000 last month, the lowest level since the department began tracking starts in 1959. The rate tumbled 4.5% from the ...
CNN Money | November 19, 2008
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Home Prices a First-Time Buyer's Dream
Great news: Home prices have fallen! At least that's great news for people buying homes. New statistics show home affordability has soared in the Northern San Joaquin Valley as plummeting prices enable more families to attain the American dream. Stanislaus, Merced and San Joaquin counties now have some of the ...
Modesto Bee | November 19, 2008
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Stocks Slide Amid Downbeat Economic Data
U.S. stocks fall after the biggest-ever drop in consumer prices and another gloomy housing report offers little cheer to investors already fretting about the fate of the Big Three automakers.
MarketWatch | November 19, 2008
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Fed, Treasury Resist Funds for Homes, Detroit
The fight over how to use the Treasury's $700 billion bank rescue fund went into another round on Capitol Hill on Tuesday, with top administration officials testifying that about $60 billion of uncommitted funds should be reserved for potential financial disasters - including another possible big bank failure ...
The Washington Times | November 19, 2008
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Are You an Idiot to Keep Paying Your Mortgage?
Should you keep paying your mortgage? If you have significant equity in your home, absolutely. If you don't, it's getting harder to answer that question, especially when our government keeps giving people who owe more than their homes are worth so many reasons not to pay. Last week, the government announced ...
San Francisco Chronicle | November 19, 2008
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Requests for Help Rise as Nonprofits Struggle
Craig Thomas' voice cracked as she described the problems. Homeless families sleeping in their cars. Elderly residents facing the onset of cold weather without electricity. Unemployed people who can't pay their bills. "Since March, with the downturn in the economy, the needs have become desperate, ...
News & Record (Greensboro, NC) | November 19, 2008
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In Case You Missed It: Paulson Opinion Editorial
We are going through a financial crisis more severe and unpredictable than any in our lifetimes. We have seen the failures, or the equivalent of failures, of Bear Stearns, IndyMac, Lehman Brothers, Washington Mutual, Wachovia, Fannie Mae, Freddie Mac and the American International Group. Each of these failures ...
Treasury Department Documents and Publications | November 18, 2008
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All Those Billions Start to Add Up
So who gets a slice of that $700-billion federal taxpayer bailout of the financial services industry? On Monday, news spread that Treasury Secretary Henry Paulson would leave half the money in the Troubled Asset Relief Program (TARP) for the incoming Obama administration to dole out. Most of the other $350-billion ...
St. Petersburg Times (Florida) | November 18, 2008
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A Free Market to Reinvent; Adam Smith Must be Turning Over in His Grave
President George W. Bush warned foreign leaders Thursday not to tinker with the free-market system. In a speech given a day before a weekend economic summit where world leaders would discuss the growing financial crisis, Bush said: "But the crisis was not a failure of the free-market system. And the answer ...
Ventura County Star (California) | November 18, 2008
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Can $100K End Homelessness?
The Orlando City Council on Monday voted to give $100,000 to the Central Florida Regional Commission on Homelessness, far less than hoped for when the organization was rolled out with much fanfare earlier this year.
Orlando Sentinel (Florida) | November 18, 2008
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Housing Project on Hold
A controversial housing project in Canton has been put on hold for the time being. Smokey Meadows, a 60-unit apartment complex presented to the Canton Board of Aldermen back in May, is on hold until at least March, said Patsy Dowling, executive director of Mountain Projects. The project will be owned by a limited ...
The Mountaineer (Waynesville, North Carolina) | November 17, 2008
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Commentary: How Obama Can Fix the Economy
President-elect Barack Obama has been holding his economic cards close to his vest. He did not participate in person at last weekend's meeting of G20 leaders. He has been reluctant to encourage the lame-duck Congress to adopt a major fiscal stimulus package. He may be right in saying that the U.S. has only ...
CNN | November 17, 2008
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Billions Become Trillions
The Federal Reserve, the Treasury Department and the Democratic Party seem to be in a race to see who can flaunt more money at more suppliants in quicker time with less thought. When the Federal Reserve and the Treasury Department decided to put $30 billion into Bear Stearns in March, Fed Chairman Ben Bernanke ...
The Washington Times | November 17, 2008
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Hope for Homeowners Foreclosure Program Falls Flat
Once touted as a potential breakthrough to help solve the foreclosure crisis, the government's Hope for Homeowners program has failed to live up to its billing so far. And there are serious doubts it ever will. Bankers don't like it. Consumers don't understand it. Government regulators don't trust ...
Orlando Sentinel (Florida) | November 17, 2008
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