Word: problem
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...help comes none too soon, as the Florida housing market, particularly in the tri-county area of Miami-Dade, Broward and Palm Beach counties, founders under the weight of tens of thousands of foreclosures. And the problem is only getting worse. (Read Exclusive Mutual Funds Reopen for Business...
...Foreclosures more than doubled in '08 compared to '07, year over year," Zalewski says. Creeping unemployment, tight credit and property devaluation, where the home is worth less than the amount owed on the mortgage, all tend to indicate the problem will only get worse. "Short of a government intervention, I would envision that we continue to grow higher and higher and higher," he predicts. "I wouldn't be surprised if we approached 100,000 [foreclosures"] in 2009, short of government intervention...
...governors are stepping up to ease the problem before it gets too far out of hand, Zalewski says. "That's why you're seeing the Charlie Crists of the world and the Arnold Schwarzeneggers of the world try to take steps to impose moratoriums on foreclosures, because the problem is so overwhelming," he says, adding that a 90-day moratorium should provide homeowners with the chance to refinance their loans and will dovetail with the incoming Obama administration, which holds out hope of providing financial relief to Main Street USA. (Read Four Steps to Ending the Foreclosure Crisis...
...houses and apartments. On average, heating an American home with natural gas creates about 6,400 lbs. of CO2 a year; using electricity will produce about 4,700 lbs of emissions. Both numbers can be larger if you live in a cold part of the country. The problem is that many American houses are poorly constructed and insulated, leaking heat in winter and cool air in the summer - and that's not cheap. Oil and gas prices may have declined in recent months - of course, fuel costs in the U.S. have also been historically low, compared to our counterparts...
...that initial sympathy quickly gave way to hostility as the focus of blame landed on Pakistan - a knee-jerk first reaction, rather than one based on any solid evidence. "It is a tragic incident, and we also felt bad about it as Pakistan is going through the same problem," says Abdur Rashid, a 67-year-old retired government servant in Rawalpindi, near Islamabad. "But it was really unfortunate to see that even before the operation [to clear out the attackers] was finished, the Indian government stated that Pakistan is involved. It sounds that the entire incident was concocted to punish...