Interesting Housing News Links (February 18, 2009)

* COURT BRIEFS (Asbury Park Press)

FREEHOLD: A Monmouth County grand jury has charged a 49-year-old Bradley Beach man with armed robbery and other offenses in an attack on a Howell man with a table during a burglary at the victim’s home.

* Suspect arrested in floor-tile robbery (Derek Cooley, Arizona Republic)

Mesa police arrested a suspect in connection with a robbery of floor tiles that occurred in late January at a Mesa home in the 700 block of North Miller Street, police said Wednesday.

* Cost of job loss cover rises with lay-offs (Charlie Weston, The Irish Independent)

THE cost of taking out redundancy insurance cover, which will pay your mortgage if you are laid off, has shot up as more people lose their jobs.

* Fed: Economy to get worse in ’09

WASHINGTON — The Federal Reserve warned today that the nation s crippled economy is even worse than thought and predicted it would deteriorate throughout 2009, with no sign that the housing market will stabilize.

* Fed downgrades economic forecast for this year (Jeannine Aversa-)

The Federal Reserve on Wednesday sharply downgraded its projections for the country’s economic performance this year, predicting the economy will actually shrink and unemployment will rise higher.Under the new projections, the unemployment rate will rise to between 8.5 and 8.8 percent this year. The old forecasts, issued in mid-November, predicted the jobless rate would rise to between 7…

* Construction of new homes falls to record low (Jeannine Aversa-)

WASHINGTON – Big industry production throttled back in January due partly to auto shutdowns, and housing construction tumbled to a record low, weaker-than-expected performances that show the country caught in a worsening economic tailspin.

* New home construction drops to record low (Newsweek)

Construction of new homes and applications for future projects both plunged to record lows in January as all parts of the country showed big declines in building activity.

* Stocks tumble 3.8% on auto, economy worries (Madlen Read)

NEW YORK — Investors around the world are betting that even with government stimulus and bailout programs, the global recession will just have to run its course.

* Boring in on a woodpecker controversy (Richard C. Paddock, Los Angeles Times)

Reporting from Walnut Creek, Calif. — To the woodpeckers, the ridge-top homes in Rossmoor are the perfect place to stash their food. For years, the energetic birds have bored holes in more than a dozen town houses and hidden acorns in the walls. The homes look as if they have been raked by machine-gun fire.

* Construction of new homes plunges to record lows

Construction of new homes and applications for future projects both plunged to record lows in January as all parts of the country showed big declines in building activity.

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