Home Prices Drop For 2nd Straight Month
MSNBC.COM - U.S. home prices fell in most major cities for the second straight month, further evidence that the housing recovery will be bumpy.
The Standard & Poor's/Case-Shiller index released Tuesday showed prices dropped in October from September in 19 of the 20 cities tracked.
Prices in a majority of cities declined for the second straight month, reflecting the typically fall slowdown after the peak buying season. Prior to that, prices had risen for five consecutive months in at least half of the cities tracked.
The Case-Shiller index covers half of all U.S. homes. It measures prices compared with those in January 2000 and creates a three-month moving average. The monthly data are not seasonally adjusted.
Atlanta, Detroit and Minneapolis posted the biggest monthly declines. Prices in Atlanta and Las Vegas fell to their lowest points since the housing crisis began. Prices rose in Phoenix after three straight monthly declines.
David M. Blitzer, chairman of S&P's index committee, said steep price drops in cities such as Atlanta, Chicago, Cleveland, Detroit and Minneapolis were particularly worrisome because their gains earlier this season were so strong.
"Atlanta and the Midwest are regions that really stand out in terms of recent relative weakness," Blitzer said. "These markets were some of the strongest during the spring/summer buying season."
Americans are reluctant to purchase a home more than two years after the recession officially ended. High unemployment and weak job growth have deterred many would-be buyers. Even the lowest mortgage rates in history haven't been enough to lift sales.
Some people can't qualify for loans or meet higher down payment requirements. Many with good credit and stable jobs are holding off because they fear that prices will keep falling.
Sales of previously occupied homes are barely ahead of 2008's dismal
figures — the worst in 13 years. And sales of new homes this year will
likely be the worst since the government began keeping records a half
century ago. click here to read more
Most Popular StoriesMost Popular StoriesMore>>
See a movie in a theater every day for a year for only $90? Costco offering bundle with MoviePass and Fandor
KHQ.COM - If you're into watching movies in theaters AND at home, Costco has a deal for you! The wholesaler is offering an evoucher that bundles a full year of access to MoviePass and Fandor for only $89.99. MoviePass, which gives free movie tickets, usually costs $120 a year alone. Twelve months of Fandor, a movie streaming service, is $60.>>
GRIFFITH, Ind. - A fast food restaurant in Northwest Indiana will remain closed until police figure out how cocaine allegedly wound up in a customer’s order. A Broad Street Gyros customer called police Nov. 21 saying she thought there was cocaine in her takeout order. According to the Chicago Tribune, the woman told police she found a small baggie of white powder stuffed inside a plastic foam cup along with her cheese sticks. According to>>
ROCHESTER, N.Y. - A doctor is accused of spiking his girlfriend's drink with an abortion pill. Brooke Fiske told News 8 WROC in Rochester that she and Sikander Imran had been dating on and off for three years when she learned she was pregnant. Fiske says he didn't want to have the baby so Imran tried talking her into having an abortion, but it wasn't something she wanted. According to WROC, Imran had recently moved from New York to>>
SPOKANE VALLEY, Wash. - Spokane Valley Fire Department responded to a report of structure fire at 13307 E Bitterroot Ln in the Elk Ridge Heights neighborhood Friday evening. Firefighters say everyone made it out safely. When they arrived, they found a large amount of fire coming from the 3 car attached garage. Because of their quick work, the fire was under control within minutes. The occupants of the home reported smelling smoke while>>
CALDWELL, Idaho (AP) - Police say a western Idaho teenager who has been missing for more than a year has been found safe. Caldwell Police Lt. Alan Seevers told the Idaho Press-Tribune that 17-year-old Amber Thompson turned herself in to Las Vegas authorities on Wednesday. Thompson was reported missing in September 2016. Thompson's mother previously told the newspaper that her daughter was staying with family in Caldwell while she and her husband attended a...>>
VANCOUVER, Wash. (AP) - A man has been sentenced to three life terms without the possibility of parole for killing three of his friends at a home in Washington state. The Columbian newspaper reports that Judge Robert Lewis also sentenced 37-year-old Brent Luyster on Friday to 54 years for attempted murder and firearm possession. Luyster killed Joseph LaMar, Janell Knight and Zachary Thompson, in July 2016, near the small town of Woodland. He tried to kill Breanne Leigh, who t...>>