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This newspaper page contains 3 articles. Subscribers can read the full text of each article.
Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Aug 27, 2010
Page
3
The Dow Jones average slipped below 10,000 for the first time since July, dropping 74.25 to 9,985.81. Despite an early gains wave after a favorable jobless claims report, investors remained cautious as August trends show a general decline and weak home sales sap optimism despite strong July earnings.
Joe Miller a 43 year old Fairbanks resident and Tea Party Express candidate stunned pundits with a 1688 vote lead over U S Senator Lisa Murkowski. Analysts say the outcome stays in limbo at least until Tuesday as common sense voters express dissatisfaction with federal policy.
The article notes falling loan payment notices and rising foreclosures as July marks the worst month for new home sales in years. It cites 2.3 million homes repossessed since December 2007 and estimates 6 million more lost to foreclosure in three years. It discusses underwater mortgages, unemployment, and weak consumer spending, with Expert quotes warning the housing slump hinders economic recovery.
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