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Archive for February, 2009

End in Sight for Housing Crash

Thursday, February 5th, 2009

As Reported in Reuters, Moody’s Economy.com published a report today with some hopeful news about U.S. housing markets. While the report first predicts declines in home values exceeding 20% in 100 metropolitan areas nationwide, it goes on to predict that the housing markets may bottom out in the fourth quarter of 2009. This depends on the government taking some drastic steps to stabilize the greater economy. It’s been three years since prices began correcting and it appears as though the end may finally be in sight. How this news affects individual communities around the country will vary. New York is only just beginning to see a downturn in their robust housing markets. Meanwhile places like Stockton, California, that had relatively high rates of exposure to subprime and investor lending and have long since hit catastrophic foreclosure rates.

Children’s Health Bill Passes

Wednesday, February 4th, 2009

Millions of low income children and certain groups of legal immigrants are the first recipients of the sweeping change that was the foundation of Barack Obama’s campaign. Acknowledging that it falls short of far reaching healthcare reform, California Democrat Henry Waxman called it a ‘down payment’. The passage of the bill is further evidence of the changing climate in Washington. Only six months ago, George W. Bush was threatening states who insured too many children through the State Children’s Health Insurance Program with penalties. Under this bill, as many as four million children will be insured by 2013. Expansion of this program has been resisted by Republicans. Steve King (R Iowa) has called it “a foundation stone for socialized medicine.” Dissenters aside, the bill passed with the votes of 40 house Republicans.