Articles Tagged with ''energy''

Remodeling Slump Continues: NAHB

Negative effects of the economic slowdown seem to have percolated nearly every market, and the residential remodeling market is no exception, as third-quarter reports showed a continued slump in remodeling activity across the nation, according the the National Association of Home Builders' Remodeling Market Index.
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Final Debate Focuses on Economy, "Joe the Plumber"

The presidential candidates debated for the final time in the 2008 election season Wednesday at Hofstra University in New York. The focus of much of the debate was the failing economy, which saw another severe plunge throughout the day. The Dow Jones Industrial Average [stock INDU][/stock] closed down 733 points hours before the debate began. Senator Barack Obama emphasized the "failed policies and failed politics" of the past eight years while Senator John McCain stressed Obama's questionable relationships with Bill Ayers and ACORN.
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IMF: No Bottom in Sight for Housing

It's been roughly one year since the mortgage and financial market turmoil first began in the subprime market -- and on Monday, a report from the International Monetary Fund suggested that we're nowhere near out of the woods yet. "Credit quality across many loan classes has begun to deteriorate with declining house prices and slowing economic growth," said the IMF's latest Global Financial Stability Report Market Update. "Although banks have succeeded in raising additional capital, balance sheets are under renewed stress and bank equity prices have fallen sharply."
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Wholesale inflation surges

Looks like Bernanke has a reason for concern. Via the Associated Press: The Labor Department reported that soaring costs for gasoline and food pushed inflation at the wholesale level up by a bigger-than-expected 1.8 percent in June, leaving inflation rising over the past year at the fastest pace in more than a quarter-century.
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Bernanke: Housing Continues to Weaken, Challenges Grow

Federal Reserve chairman Ben Bernanke softened his previously hawkish stance on monetary policy, suggesting in testimony to the Senate Banking Committee that policy makers have become increasingly uncertain about the direction of interest rates amid a roiling financial market that has become increasingly unraveled in the past week.
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Senate Expected to Pass Housing Package Today, But Hurdles Remain

A massive and controversial housing package moving through Congress passed a final procedural hurdle Thursday, with the Senate voting 84-12 to invoke cloture on the last portion of the bill; the package (HR 3221) appears set to pass a final Senate vote Friday, although a final bill will require negotiation between House and Senate leaders. President Bush has also threatened to veto the bill in its current form, as well.
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HELOC Delinquencies Rise in Q1, ABA Says

(Updated to reflect correction to ABA press statement) Continued stress in the housing market combined with general weakness in the overall economy contributed to an increase in the delinquency rates for home equity lines of credit and bank cards during the first quarter of 2008, according to a quarterly consumer credit report released Wednesday morning by the American Bankers Association.
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Senate Housing Bill Hits Unexpected Snag

A lone Senator apparently now stands between a $300 billion expansion of the Federal Housing Administration's mortgage insurance program, and a growing number of Republican and Democratic Senators who want to push their version of a housing relief package through the Senate floor as fast as possible.
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