What is a double dip recession and why it matters
Economists debate a double dip defined as a recession followed by a brief rebound then a renewed contraction. The NBER tracks start and end dates, with no fixed formula, while analysts note past examples and ongoing risks to growth amid unemployment and global headwinds.
MENTIONED IN THIS ARTICLE
Washington, D.C
Europe
China
U.S
Robert Hall
National Bureau of Economic Research
Hall
NBER
Stanford University
United States
Sung Won Sohn
California State University
Channel Islands
Sohn
Brian Bethune
THS Global Insight
Hall’s
Bethune
Cambridge
Mass
George W. Bush
Tax credit extension eases late homebuyers burden
Congress moved to extend the tax credit deadline to September 30 for buyers with signed contracts. The measure, awaiting Obama’s signature, lets about 180,000 buyers qualify for up to 8000 dollars in credits, easing mortgage and closing delays caused by the rush to close.
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New York
Congress
Barack Obama
House
Senate
Obama
Ers
Ron Phipps
Phipps Realty
Warwick
R.C
Sion
National Association of Realtors
Phipps
Pending Home Sales Drop Widely Without Tax Credits
May pending home sales fell 30 percent from April per the National Association of Realtors. The seasonally adjusted index slid to 77.6, the lowest since 2001, with declines across the South, Midwest, Northeast, and West as tax incentives loom.
MENTIONED IN THIS ARTICLE
New York
National Association of Realtors
South
Midwest
Northeast
West
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