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2 Stories

May 2008
- Home, Retail Sales Keep Sliding
  
  newser | Bloomberg | May 13, 08 11:36 AM CDT
  
  The housing market continued to plunge in the first quarter of 2008, as single-family sales dropped 22% from their year-ago pace, to 4.95 million annually. Bloomberg reports that the median home price is off 7.7% from a year ago, to $196,300, as foreclosed properties drag down values. Meanwhile, US retail sales were off in April, mainly because of a big drop in autos. More »
  
  Tags
  
  recession • housing market • economy • retail sales • home prices • home sales • housing sector
March 2008
- Economy in 'Sharp Decline,' Paulson Admits
  
  newser | Reuters | Mar 19, 08 5:46 AM CDT
  
  Hank Paulson came closer than ever to conceding that the economy is in recession in a series of interviews yesterday, Reuters reports. Weary after a weekend in which he helped to broker Bear Stearns' fire sale to JPMorgan, the treasury secretary avoided the R-word but admitted: "There's no doubt that the American people know that the economy has turned down sharply. So to me much less important is the label that's placed on it today." More »
  
  Tags
  
  Federal Reserve • recession • economy • Bear Stearns • Henry Paulson • JPMorgan Chase • stimulus package • tax rebate • Department of the Treasury • capital markets • housing sector

2 Stories

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