To keep or not keep GM bonds There are arguments on both sides, Dr. Don says.via
Economic adviser is pick to head Federal Reserve President Bush yesterday nominated Ben Bernanke, head of the Council of Economic Advisers and a well-respected academic economist, to replace Alan Greenspan as chairman of the Federal Reserve.read more...
Centex leaving city, at cost of 88 jobs Centex Corp., which built the most homes in Columbia in 2004, will cut about 100 jobs in Columbia and Greenville as it leaves for faster-growing areas elsewhere, a company official
Mortgage rates up for fourth week (Detroit News) WASHINGTON -- Mortgage rates rose for a fourth consecutive week as financial markets responded to fresh evidence that the economy is picking up momentum.read more...
Pending Home Sales Tumble; Indicating Softening Market An index measuring such sales sank again in October, 13.2% below the level of a year earlier, suggesting more lessening of demand for the housing sector.read more...
Vagabond selling off old seats The Vagabond Players are selling off the old seats in the Bernie Legge Theatre as part of a major facelift at the Queen's Park stage The seats are going for
"For all practical purposes, the subprime market is in the process of shutting down."
The subprime mortgage implosion will take even more steam out of the already slowing real estate market this year and beyond, according to a new economic report.
More than two dozen subprime lenders have shut down in recent months and others are scrambling to stay in business as a spike in defaults caused by borrowers unable to make payments has rocked the mortgage industry.
Now, as lenders tighten credit standards, the housing market will likely see further declines in price and output, senior economist David Shulman wrote in the quarterly Anderson Report to be released Monday by the University of California, Los Angeles. Read more
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