WASHINGTON (MarketWatch) — In the clearest suggestion yet of a recession, U.S. nonfarm payrolls fell by 63,000 in February, the second straight decline, the Labor Department reported Friday.
“Turn out the lights the party’s over,” wrote Joseph Brusuelas, U.S. chief economist for IDEAglobal. “We are in a recession.”
It was the largest drop in payrolls since March […]

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NEW YORK (Reuters) - American International Group (AIG.N), on the heels of reporting its largest-ever loss, said on Friday the subprime crisis had thrown it into “uncharted waters” that were likely to remain choppy through 2008.
The world’s largest insurer recorded a loss of $5.3 billion on Thursday, stemming from a $11.12 billion write-down of […]

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Houses are getting cheaper by the month. Everything else is becoming more expensive.
Several economic reports released on Tuesday provided fresh evidence that the economic pain of a prolonged slump in housing is being compounded by the rising cost of oil, food, clothes and other goods. Not surprisingly, a measure of consumer confidence fell to its […]

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The decline in residential real estate accelerated though the end of 2007, and home prices in 20 key markets plunged 8.9% for the year, according to a survey released Tuesday.
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The decline in residential real estate accelerated though the end of 2007, and home prices in 20 key markets plunged 8.9% for the year, according to a survey released Tuesday.
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The decline in residential real estate accelerated though the end of 2007, and home prices in 20 key markets plunged 8.9% for the year, according to a survey released Tuesday.
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The slump in Massachusetts’ housing market deepened in January. Reports from two organizations show a 28 percent decline in sales of single-family homes last month, compared with the same month a year earlier.
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AP - Sales of existing homes fell to the lowest level in nearly a decade in January while the median price for a home dropped for the fifth straight month.
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