10 U.S. Cities With Housing Markets Struggling To Stay Afloat

          Image of an abandoned house


For three years, the real estate market has been going in one direction—primarily down. Some areas, however, have begun to recover.

Recent S&P/Case-Shiller data show that among the top 20 housing markets in the U.S., 18 had very modest improvements in sales prices during May. Others, like Washington and Boston, have began to at least stabilize from a year ago.

Few markets, however, can match Washington and Boston. Robert Shiller has been stating that home prices could fall another 10% in the next year. Inventories in some major metropolitan areas would take years of sales to get back to 2005 levels. Then, the normal inventory of homes for sale was replaced on average every six months and it was unusual for a house to be on the market for a year.

Foreclosure rates remain high and only the robo-signing scandal has slowed the process.

Read more: http://247wallst.com/2011/08/03/americas-ten-sickest-housing-markets/3/#ixzz1TzK4SdJ9

Read more: http://247wallst.com/2011/08/03/americas-ten-sickest-housing-markets/3/#ixzz1TzJsXxZp

The Amitabh Bachchan defence won’t save 2G, CWG scamsters:

The Amitabh Bachchan defence won’t save 2G, CWG scamsters:

R Jagannathan Aug 3, 2011

In a critical scene in the super-hit 1970s film Deewaar, when confronted by his police officer brother (played by Shashi Kapoor) about his illegal activities, Amitabh Bachchan challenges him thus: “Sure, I’ll confess to my crimes and sign a confession. But first get those people to sign who did such-and-such to our father and mother…”. You get the drift.

The Amitabh Bachchan defence won’t save 2G, CWG scamsters

R Jagannathan Aug 3, 2011
#2G scam #Amitabh Bachchan #CAG #CWG #Deewaar #LokAyukta #Manmohan Singh

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In a critical scene in the super-hit 1970s film Deewaar, when confronted by his police officer brother (played by Shashi Kapoor) about his illegal activities, Amitabh Bachchan challenges him thus: “Sure, I’ll confess to my crimes and sign a confession. But first get those people to sign who did such-and-such to our father and mother…”. You get the drift.

This is the classic defence of the criminal when caught in the act. He plays up his sense of being wronged, of being unfairly targeted when other, bigger criminals, are still at large. Needless to say, however well it may play at the box-office, in legal terms, this is no argument at all.

When you are accused of a crime, you defend yourself against it. The law will not cut you any slack just because someone else out there also committed the same crime or did worse.

India’s growing tribe of jailed politicians and businessmen, and also politicians who are trying to deflect blame from their current masters, have been consistently using the Amitabh Bachchan line of defence – whether it is in the 2G scam, the Commonwealth Games (CWG) scandal or the illegal mining capers, or anything.

India’s growing tribe of jailed politicians and businessmen, have been using the Amitabh Bachchan line of defence – whether it is in the 2G scam, (CWG) scandal or the illegal mining capers. Screen grab from the movie Deewaar

Their arguments are variants of two themes: “Why me? Look at the other crooks first”; or “He (usually a minister or bureaucrat) knew I was doing this, so he’s guilty too.” The third and final tactic is to question the authority of the accuser – whether it is the Comptroller and Auditor General (CAG), the Central Bureau of Investigation (CBI), the courts or a Lokayukta or a political rival.

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..and .... let's hope the author is right !! and the scamsters are NOT saved !!