Bloomberg - March 27 (Bloomberg) — Democrat Barack Obama said the government must overhaul the rules governing banks and other financial institutions in the wake of a collapse in the subprime mortgage market that has shaken confidence in the U.S. economy.

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GEORGETOWN, Del. - Municipal leaders in Georgetown said they have felt the negative effects of the slumping housing market.
Transfer and property taxes account for the biggest amount of revenue for Georgetown.
But Town Manager Gene Dvnornick said fewer people have moved in which means less money and a budget shortfall of $183,000.
“One of the things we’re […]

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Activity in the UK housing market is set to fall to its lowest level in more than 30 years, according to a leading estate agent.
Uncertainty among buyers and sellers and the reduced availability of debt will drive down transaction levels to 800,000, according to data from LSL Property Services.
LSL chief executive Simon Embley said: “In […]

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If seniors have trouble selling their homes, investors worry that providers of senior housing could suffer. Shares of assisted-living facility operators have dropped in the past year, due to fears that potential customers are delaying moves into facilities until the housing market improves.
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Southern Nevada’s housing slump is on the verge of hitting rock bottom, if it hasn’t already done so. That’s according to industry analysts who got together Wednesday to discuss the local housing market.
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SEATTLE (AP) - For the first time since 1991, a key index shows the Seattle-area housing market has registered a year-to-year decline in prices.
According to the Standard & Poor’s S&P/Case-Shiller Home Price Indices, the price of a typical house in King and Snohomish counties was down 1.3% in January compared with a year ago.
From December […]

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Reuters - The U.S. Securities and Exchange Commission’s top enforcement official said on Wednesday that it’s still too early to tell whether the current market turmoil involves widespread securities violations or simply bad business decisions.
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For the first time since 1991, a key index shows the Seattle-area housing market has registered a year-to-year decline in prices.
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