Economy, Housing Crisis | featured news

New data reveals home prices in America's biggest cities are on a downward trend that could last through next year — making it more likely the housing market will face another downturn and threaten the overall economy.Inflation Helps Boost Value of Tax DeductionsYOU DECIDE: Have You Saved Enough?

Congressional lawmakers scramble to come up with quick fix to the foreclosure fiasco that has threatened the economic recovery and thrown a monkey wrench into their re-election campaigns.Up to 40 States Plan Foreclosure Data Inquiry

Two years ago, the housing virus passed into the banking system -- and the Fed and ECB rushed to administer medicine. Although the patient may be out of danger, he isn't healthy yet, David Wessel writes.

New U.S. housing starts and permits surged in May from record lows, while producer prices rose at a slower pace despite higher gasoline prices, boosting prospects for the economy's recovery from recession.

The housing crisis will deepen, the country could fall into a depression and laid-off workers may need to start their own business.

President Barack Obama promised on Saturday to help lower Americans' mortgage costs with a new plan, coming soon, that would revive the financial system and "get credit flowing again."

Home Depot is cutting 7,000 jobs and closing its 34 Expo Design Centers as the recession continues to batter the U.S. housing market.

WASHINGTON (Reuters) - The number of workers lining up for jobless benefits surged last week, while new housing starts and permits hit record lows in December, pointing at an acceleration in the economy's downward spiral.