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Nationally, at the current sales pace, there’s about a 40-month supply of homes on the market for $750,000 or more, according to the National Association of Realtors. That’s more than double the stock in mid-2007, before the credit crunch. By contrast, there is now less than a 10-month supply for all homes.
July 10 (Bloomberg) -- Freddie Mac , the mortgage-finance company under government control, offered to repurchase as much as $4.4 billion of its subordinated notes from investors.
Middle-class matrons shop for imported furniture in a marble-and-glass emporium. A new movie house is screening "Transformers." Teens bop to a Danish hip-hop band performing on their high school basketball court.
Everyone is scrambling to get their fingers on the pulse of the economy. When will it turn around? Have we seen the worst? The answers may not be as elusive as you might think. You'll find clues in everyday life to help determine where the economy really stands:
Louis Gill doesn't like to turn anyone away. The director of the Bakersfield Homeless Center in California has taken to laying out cots and mattresses between the shelter's 174 registered beds to cope with the rush of homeless families brought to his doors by the financial crisis.
A female body was found stuffed inside an air-conditioning duct Saturday in a Manhattan skyscraper where a cleaning woman disappeared four days ago.
The giant Palouse earthworm has taken on mythic qualities in this vast agricultural region that stretches from eastern Washington into the Idaho panhandle — its very name evoking the fictional sandworms from "Dune" or those vicious creatures from the movie "Tremors."
Dwyane Wade is involved in a chicken-and-egg standoff with president Pat Riley. Riley said the Heat couldn't move forward building a title contender without a long-term commitment from Wade. Wade said he couldn't give the team a long-term commitment until he sees the Heat is committed to building a winner.
The six cultivated acres surrounding Holbrook Farm’s red barn retail shop are neatly lined with raised beds of lettuces, herbs, onions, edamame and okra.
Boxcar Cantina, the first restaurant in Fairfield County to be certified as “green,” serves huge portions at moderate prices.
Twenty years after dropping intercollegiate athletics, Roosevelt University in Chicago, is bringing them back.
The following companies are mentioned in today's Business Digest: Papa Gino's Inc., Rockland Trust Charitable Foundation, National Association of Realtors, Applied Behavioral Associates, Mercury Media, Boston area hotel industry.
Hundreds of thousands of people are finding almost-new homes need many thousands of dollars in fixes because of construction defects.
An overseer of national parks in Western states, Jon Jarvis has angered a senator and other backers of a California oyster farm.
Toyo Ito designs buildings that suggest the world beyond, and the one he envisions.
NASA canceled Saturday's launch attempt of space shuttle Endeavour on a construction mission to the International Space Station to assess possible damage from nearby lightning strikes, officials said.
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