VOL. 123 | NO. 136 | Monday, July 14, 2008
Home sales continue downward trend in Q2
Of Shelby County’s 33 ZIP codes that registered a home sale in the second quarter of 2008, all but one suffered a decline when compared to the same quarter of 2007, a trend that has been indicative of the area’s recent real estate woes.
Federal Reserve Chairman Ben Bernanke said in a speech given last week at a Federal Deposit Insurance Corp. conference in Virginia that the Fed is unveiling new policies this week that will provide a salve to the bruised mortgage market.
Tennessee education officials are giving consideration to the possibility of crafting what they’re calling an “emergency response plan” in response to the city of Memphis’ recent funding cut to the city school system.
WASHINGTON (AP) – Struggling homeowners who can’t afford their mortgages and banks facing big losses would get government help under a foreclosure rescue that has broad bipartisan support.
WASHINGTON (AP) – Treasury Secretary Henry Paulson, seeking to calm nervous investors about the financial state of Fannie Mae and Freddie Mac, said Friday the government’s primary policy focus currently is to leave the congressionally created mortgage giants intact.
Upon entering Dena Walley’s salon along the Highland Strip near the University of Memphis, customers are sure to notice colorful walls, unique decorations hanging from the rafters and a hand-painted floor greeting telling them to “Have a Great Hair Day!”
ATLANTA (AP) - Shareholders at Delta Air Lines Inc. and Northwest Airlines Corp. will vote Sept. 25 on the stock swap that would join their companies.
WASHINGTON (AP) - Wall Street and Washington wrestled Friday with how to shore up mortgage giants Fannie Mae and Freddie Mac, two troubled pillars of the economy whose failure would deal a devastating blow to the already crippled housing market.
WASHINGTON (AP) - The Treasury Department says the federal deficit swelled to $268.7 billion in the first nine months of this budget year as record spending during the period outpaced revenues.