Reply #17: news updates: Homes Sales and Greenspin [View All]

[UpInArms]

http://cbs.marketwatch.com/news/newsfinder/pulseone.asp?siteid=mktw&guid=%7B179E8941-AE50-495F-9B35-D339CD22CAC1%7D&

U.S. Jan existing home sales fall from near-record high By Leticia Williams
WASHINGTON (CBS.MW) -- Existing home sales fell 5.2 percent in January to 6.04 million units on a seasonally adjusted annual basis, the National Association of Realtors said. The fall in January sales was larger than expected. Most economists had expected sales to slip after hitting their third highest level ever in December. Economists had forecast that sales would fall 3.1 percent to 6.27 million units. On a year-on- year basis, existing home sales were up 2.0 percent.

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http://cbs.marketwatch.com/news/newsfinder/pulseone.asp?guid={3FE46CF0-0CFE-43DD-B765-0A5096CAEBD6}&siteid=

Greenspan urges action on federal deficits By Rex Nutting
WASHINGTON (CBS.MW) -- Federal Reserve Chairman Alan Greenspan urged Congress on Wednesday to take the long view and act now to reduce the mounting federal debt. Greenspan said running federal deficits is wise and necessary for the next year or two to support the fledgling economic recovery. But deficits in the long run could retard U.S. economic growth, he warned. The aging Baby Boom generation will begin retiring in just four years, the beginning of a long process that could boost government spending for retirement and health security programs, Greenspan told the House Budget Committee. Greenspan suggested that changes be made in Social Security to limit cost-of-living increases and perhaps to adjust the retirement age.