If you cannot sell your house, you cannot move to a city or town with more jobs. It is an obvious point, but an important one for explaining the sustained, high rate of unemployment. Michael Fletcher explains today in The Washington Post:
In June, new home sales rebounded from their record-low rate to … the second-lowest rate ever recorded. The Commerce Department announced that home sales increased 23.6 percent to a seasonally adjusted annual rate of 330,000, up from an annual rate of 267,000 in May. The pace of sales declined More…
Another sign of weakness in the housing market: This morning, the National Association of Realtors said that sales of existing homes declined 2.2 percent from April to May. NAR revised its estimate of April sales — bolstered by the end of the Obama administration’s homebuyer tax credits — up More…
This morning, Standard & Poor’s released its S&P/Case Shiller housing index data for February. It is not pretty. The composite index declined for the fifth straight month. Of the 20 cities Case Shiller follows, only Los Angeles, San Diego, San Francisco, Washington, Las Vegas and New York registered gains More…
As Ari Melber and Matt DeLong have reported on our site, both presidential candidates are keeping up their war of words over Wall Street’s financial crisis and the state of the nation’s economy. You might think that things have changed a lot since last week, when I More…
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