Economy

“The Big Money”

With the economy becoming the major issue of the presidential campaign, Slate has made a wise move by creating a new news magazine called “The Big Money.” I’m not sure about that title. With the Monopoly board game theme that they have on the site, Boardwalk or Park Place would be a better title.

I haven’t read anything on the site yet, so I won’t state an opinion. However, the financial news in Slate tends to be pretty good and not ideologically biased.

Home Prices Deflate at Sharpest Rate Ever

NEW YORK (AP) — A widely watched index released Tuesday showed home prices dropping by the sharpest rate ever in the second quarter, but the data for June suggest the severity of the housing slump may be waning.

The Standard & Poor’s/Case-Shiller U.S. National Home Price Index tumbled a record 15.4 percent during the quarter from the same period a year ago.

The monthly indices also clocked in record declines. The 20-city index fell by 15.9 percent in June compared with a year ago, the largest drop since its inception in 2000. The 10-city index plunged 17 percent, its biggest decline in its 21-year history.


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