Americans have tamed their wanderlust during this recession, according to the latest data released by the U.S. Census Bureau. Only about 2.4% of Americans moved from state to state in 2008, down from 2.5% the previous year.
Foreclosures in April exceeded even March's blistering pace with a record 342,000 homes receiving notices of default, auction notices or undergoing bank repossessions, according to a regular industry report.
Tony from L.A. was badly outnumbered. A rotund bloke in a cycling jersey that fit him like a sausage casing, he was leaning over the asphalt in front of the Rabobank bus near the start of Stage 4 of the Tour of California. In orange chalk, he was spelling out the names of the Rabo riders such as Robert Gesink, Oscar Freire and Peter Weening.
U.S. foreclosure filings reached a record high in April, rising almost 65% over the previous year and putting municipalities at risk by cutting into the value of taxed property, according to a study released Wednesday.
The mortgage meltdown will take a heavy toll on home prices in 2008 with declines expected to average 7 percent across the nation and lost property value of $1.2 trillion, according to the United States Conference of Mayors.
When it comes to affordable housing, no region can top the Midwest: Nine of the top ten of the nation's most affordable housing markets are there, according to the latest National Association of Home Builders/Wells Fargo Housing Opportunity Index.