GOP tax plan targets itemized deductions (AP)

WASHINGTON ? A GOP plan to raise taxes by $290 billion over the next decade would limit deductions for mortgage interest, charitable donations and state and local taxes as part of a deficit-reduction deal. Some workers could also see their employer-provided health benefits taxed for the first time, though aides cautioned that the plan is still fluid.

The plan by Sen. Pat Toomey, R-Pa., who serves on the 12-member debt supercommittee, would raise revenue by limiting the tax breaks enjoyed by people who itemize their deductions, in exchange for lower overall tax rates for families at every income level. Taxpayers who already take the standard deduction instead of itemizing ? about two-thirds of filers ? could see tax cuts. The one-third of taxpayers who itemize their deductions might find themselves paying more.

The top income tax rate would fall from 35 percent to 28 percent, and the bottom rate would drop from 10 percent to 8 percent. The rates in between would be reduced as well.

A GOP congressional aide said the plan is designed to raise taxes on households in the top two tax brackets. That would affect individuals making more than $174,400 and married couples making more than $212,300. Some Republicans say the plan offers a potential breakthrough in deficit-reduction talks that have stalled over GOP opposition to tax hikes and Democrats' objection to cuts in benefit programs without significant revenue increases.

House Speaker John Boehner, R-Ohio, spoke of it favorably, but his party's majority leader, Rep. Eric Cantor of Virginia, has declined to endorse it. Several GOP presidential hopefuls also have criticized if for offering to increase taxes.

Democrats, meanwhile, have panned the plan, saying it would cut taxes for the wealthy, raise taxes on the middle class and generate less revenue than advertised.

The supercommittee has a Wednesday deadline to come up with a plan to reduce government borrowing by at least $1.2 trillion over the next decade. If the panel fails, $1.2 trillion in automatic spending cuts to domestic and military programs would take effect in 2013.

Some details of Toomey's plan remain in flux, in part because he is open to changes to help forge an agreement, said the GOP aide, who spoke on condition of anonymity to discuss private negotiations. The aide confirmed that Toomey's plan is closely modeled after a proposal by three experts at the National Bureau of Economic Research, a private research organization perhaps best known for deciding when recessions begin and end.

The three experts are Martin Feldstein, a Harvard University professor who was President Ronald Regan's chief economic adviser; Maya MacGuineas, president of the Committee for a Responsible Federal Budget; and Daniel Feenberg, a research associate at the bureau.

Under their plan, the tax benefits from itemizing deductions and excluding employer-provided health insurance from taxable income would be limited to 2 percent of taxpayer's adjusted gross income.

That means if a taxpayer has an adjusted gross income of $50,000, deductions and exemptions could reduce his or her tax bill by a maximum of $1,000.

Taxpayers who face limits on their tax breaks could opt to take the standard deduction instead. Currently, about one-third of tax filers itemize their deductions. The rest claim the standard deduction, which in 2011 is $5,800 for individuals and $11,600 for married couples filing jointly.

The plan envisions millions of additional taxpayers switching to the standard deduction, which would simplify their returns, MacGuineas said.

Policymakers across the political spectrum agree the federal tax code is too complicated, and most agree on a basic formula for simplifying it: Reduce tax breaks and use the additional revenue to lower the overall tax rates for everyone.

There is little agreement, however, on which tax breaks to target. The most generous provisions exempt employer-provided health insurance and retirement benefits from taxable income. The top itemized deductions include those for mortgage interest, charitable donations and state and local taxes.

Toomey's plan attempts to sidestep debates over which tax breaks to target and instead proposes to limit taxpayers' overall ability to reduce their tax bills.

"This is a far more practical way to start to scale back the influence and costs of tax expenditures in the code by kind of glopping them together and capping them," MacGuineas said. "You're not picking the winners and losers."

Economist Douglas Holtz-Eakin said the proposal "strikes me as quite clever."

"Right now we let people choose between the standard deduction and itemized deductions," said Holtz-Eakin, a former director of the Congressional Budget Office and an economic adviser to President George W. Bush. "All we're saying is we're capping the total amount of the itemized deductions."

Democrats, however, argue that such big reductions in tax rates would result in large tax cuts for the rich, which would be paid for by eliminating tax breaks that primarily benefit the middle class.

Toomey's plan starts with the premise that tax cuts enacted under Bush, and extended through 2012 under President Barack Obama, would be made permanent. The tax rates would be reduced even further under Toomey's plan, giving even more benefits to the wealthy, according to an analysis of Toomey's plan prepared by Democratic congressional aides.

Toomey's plan "would lower the average tax rate on high-income taxpayers significantly below the level of the Bush tax cuts, while raising the average tax rate significantly for low- and middle-income households above the level of the Bush tax cuts," the Democratic analysis said.

Source: http://us.rd.yahoo.com/dailynews/rss/uscongress/*http%3A//news.yahoo.com/s/ap/20111117/ap_on_go_co/us_debt_supercommittee_taxes

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20 dead in 3-vehicle accident in South Africa (AP)

JOHANNESBURG ? Officials say a three-vehicle crash in western South Africa left 20 people dead.

Provincial transport minister Robin Carlisle and safety minister Dan Plato say in a statement another 14 people were injured when two commuter taxis and a truck collided Tuesday on a highway near Prince Albert, a picturesque stop for tourists about 120 miles (200 kilometers) east of Cape Town.

Carlisle says that despite a campaign to educate people about the need to drive safely, "these major crashes, which often wipe out entire families, are continuing to happen."

South African officials are particularly concerned about road safety as the year-end holidays approach and travel increases around the country.

Source: http://us.rd.yahoo.com/dailynews/rss/africa/*http%3A//news.yahoo.com/s/ap/20111115/ap_on_re_af/af_south_africa_road_accident

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Congress ready to pass bill for vets, contractors

(AP) ? Congress is getting ready to send President Barack Obama a bill helping government contractors and unemployed veterans that contains the first shred of his jobs plan likely to reach his desk for his signature.

The House planned to vote on the legislation Wednesday and seemed likely to give it overwhelming support. Last Thursday, the Senate voted its approval by 95-0.

Final congressional approval would let Obama and lawmakers claim credit for protecting jobs at a time when the public is clearly furious over the nation's unemployment rate, which has been stuck at around 9 percent. With the president and congressional Republicans in strong disagreement over how to fix the staggering economy, he and lawmakers may not have many other job-related accomplishments to show voters in time for next year's presidential and congressional elections.

The bill would repeal a 2006 law requiring the federal, state and local governments to withhold 3 percent of their payments to many companies with which they do business. That statute, which doesn't take effect until 2013, was supposed to pressure contractors to fully pay their taxes, but lawmakers now say the withholding would deny cash to companies that they could better use to hire more workers.

Trying to keep the pressure on, a coalition of around 200 industry groups ? from aeronautical repair businesses to water treatment companies ? wrote to House members this week urging passage of the bill.

"The profit margin for many businesses is often less than 3 percent, meaning that the withholding tax will create significant cash flow problems for day-to-day operations as well as draining capital that could be used for job creation and business expansion," they wrote.

Many economists have said annulling the withholding law would have a minimal impact on hiring.

Erasing the law would reduce federal revenues by an estimated $11.2 billion over the coming decade. It would be paid for by making it harder for some elderly people to qualify for Medicaid by changing the formula used to determine their eligibility.

The bill would also establish new or more generous tax credits for companies hiring unemployed veterans, up to $9,600 for disabled vets who have looked for work for more than half a year. The size of the credit would be based on the worker's salary and how long the worker was unemployed.

Obama proposed the new tax credits in his $447 billion jobs bill in September. The credits would cost an estimated $95 million over 10 years, far less than 1 percent of the overall bill's price tag.

Lawmakers have rejected or ignored most of Obama's jobs plan. The president has made repeated speeches and campaign-style trips promoting it and blaming Congress for not approving the package.

The measure the House was debating Wednesday would also expand education and job training benefits for veterans, improve job counseling that troops get before leaving the military and provide an additional year of job services for disabled veterans.

The hiring tax credits and veterans' programs would be financed by extending a fee the Veterans Affairs Department charges to back mortgages.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2011-11-16-Jobs-Veterans/id-75fd2cb718b24fb2b2ae8125903e57ae

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Democrats??? ???Daddy Warbucks??? want more tax bucks (Daily Caller)

A party calling themselves the ?Patriotic Millionaires? are planning to lobby legislators Wednesday for higher taxes on the wealthy, but the group of taxpayers have left behind one of their founders: Andrew Tobias, the Democratic Party?s treasurer.

Tobias is listed as a member in the Nov. 14 message from the group, but his name is absent from the list of 19 wealthy men ? and only 2 wealthy women ? who will ask Congress on Wednesday to boost tax bills for them and roughly 375,000 other people earning more than $1 million per year.

Tobias has served as treasurer and chief fundraiser for the Democratic National Committee since 1999. The committee has raised hundreds of millions of dollars to help elect numerous Democratic legislators and President Barack Obama.

Since 1999, the national debt has risen from $5.6 trillion to almost $15 trillion. That works out to an average of $3.74 billion for every day that Tobias has worked at the DNC.

The debt has increased by roughly $5 trillion since Tobias helped elect Obama in 2008.

Tobias is personally wealthy, mainly owing to income earned from writing financial advice books.

Tobias?s promotion of higher taxes compliments the campaign by Obama to raise taxes on ?millionaires and billionaires.? The pitch is a central part of his re-election campaign, and some have alleged it is intended to portray Republicans as defenders of the rich and as comfortable during a tough recession.

In contrast, Republicans say wealthy people should be allowed to keep most of their money, and that low taxes spur the economic growth and job-creation that may reduce today?s unemployment rate below its national level of 9 percent.

The number of millionaires plunged 27 percent in 2008. However, since Obama?s election, despite a stalled economy,?the number has risen by 16 percent in 2009 and 8 percent in 2010, according to a March 2011 report by the Spectrem Group, a market-research firm.

In 2008, the top 10 percent of earners paid 71 percent of all income taxes, and the top 1 percent paid 38 percent of all income taxes, according to federal data analyzed by the Heritage Foundation. That?s a higher proportion than prior to the tax cuts won by by former President George W. Bush, when the top 10 percent paid 66 percent of all income taxes, and the top 1 percent paid 34 percent of income taxes.

In 2008, the bottom 50 percent of earners paid 2.7 percent of income taxes.

The 21 wealthy people seeking higher taxes today are all Democrats, and most have contributed heavily to Obama and other Democrats.

For example, David desJardins, a Californian who made his fortune while working for Google, has donated $335,000 to Democratic causes since 2008.

The 21 protestors, including several Google employees, lawyers and venture capitalists, have donated at least $3.2 million to Democratic political groups since 2008, according to the Open Secrets database maintained by the Center for Responsive Politics.

For every $1 donated by this group, the national debt grew b $1.56 million while Obama served as president.

It is not clear how many jobs the ?Patriotic Millionaires? have created since 2008.

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Read more stories from The Daily Caller

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Source: http://us.rd.yahoo.com/dailynews/rss/democrats/*http%3A//news.yahoo.com/s/dailycaller/20111116/pl_dailycaller/democratsdaddywarbuckswantmoretaxbucks

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Consumers paid less for gas, cars in Oct.

David Paul Morris / Getty Images

A driver fills up at a gas station.

By msnbc.com news services

Consumers paid less for gas and cars in October,?according to a new government report issued Wednesday.

The Labor Department said October?s Consumer Price Index (CPI) showed prices declined by 0.1 percent in the month, roughly matching analysts? expectations. It was the first decline in the CPI in four months, although prices outside of food and energy posted a slight increase.

Another report Wednesday showed U.S. industrial output rose more than expected in October as factory and mining production expanded strongly, suggesting the economy was gaining steam.?Positive reports could be further evidence that the U.S. economy is not in danger of slipping back into another recession.

?The data is relatively upbeat in the U.S., which contrasts with the situation in Europe,? said Omer Esiner, senior market strategist at Commonwealth Foreign Exchange in Washington, D.C. ?Obviously the debt ceiling is front and center, but the data here [are] improving, which should provide a bit more tail wind for the dollar.?

The CPI measures changes in the price level of consumer goods and services purchased by households.

The Associated Press and Reuters contributed to this report.

Source: http://bottomline.msnbc.msn.com/_news/2011/11/16/8836249-consumers-paid-less-for-gas-cars-in-october

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Obama Says We're ???Lazy??? -- but at Least We're Not Spineless (ContributorNetwork)

COMMENTARY | Back in September, CBS reported President Barack Obama saying the United States "had gotten a little soft" before he took office and we need to regain our competitive edge in the global economy.

Now -- after three years of trying to survive his failed economic policies -- Fox News reports that Obama says we're "lazy" when it comes to attracting business.

While attending the CEO summit as part of the Asia Pacific Economic Conference in Hawaii on Saturday, Boeing CEO James McNerney asked the president about looking at the world from a Chinese perspective and to explain what he thought they might consider as impediments to investing.

While the president admitted America has a lot of things going for itself, he said, "We've been a little bit lazy." The problems aren't caused by Obama's expensive rules and business strangling Environmental Protection Agency regulations. It's because "we aren't out there hungry, selling America and trying to attract new business into America."

Never mind that Obama's National Labor Relations Board sued Boeing in April in an effort to block them from building a $750 million plant and creating 3,800 jobs in the right to work state of South Carolina rather than the union-controlled state of Washington.

"And for perspective," McNerney said in his speech at the Chicago Council on Global Affairs in May and posted on Boeing's website, "China is, indeed, Boeing's largest export market -- and not by a little, but by a lot."

A September poll by Winthrop University shows 50.7 percent of South Carolina voters disapprove of Obama's job performance.

According to a Congressional Research Report released in February called, "Foreign Direct Investment in the United States: An Economic Analysis," foreign investment rose to an average of $300 billion per year during Bush's second term. During Obama first term it fell to roughly $150 billion.

According to Obama, nothing is his fault. According to Obama, the state of America's economy was the result of the Arab Spring and an earthquake in Japan. It's Congress that needs to get its act together, not him, and members of the Black Congressional Congress just need to shut up, stop complaining and put on their marching shoes.

According to Obama, the high price of gas and food in the United States is caused by the growing demand in India and China.

"As folks in China and folks in India start wanting to eat more meat," Commodity Online reported Obama saying in August, "commodity prices start going up."

According to the Congressional Budget Office, commodity prices are "going up" because of "the increase in the amount of corn used to produce ethanol."

It was partisan gridlock, not his convoy of massive spending packages, that caused America's credit rating to be downgraded for the first time in U.S. history.

For high unemployment, Obama blames the internet, ATMs and business that are too efficient.

For a man who Politico reported saying, "the buck stops with me," Obama sure does spend a whole lot of time spreading the blame around.

On the same day Obama was telling CEOs at the APEC summit that American's are lazy -- where Chinese President Hu Jintao delivered the keynote speech -- the head of China's biggest ratings agency, Dagong Global Credit Rating, warned in a broadcast on al-Jazeera it will downgrade America's credit rating again.

What crippling insecurity is it that compels Obama to tuck tail and kowtow every time he's in the room with China's dictator?

Dagong -- who lowered their U.S. rating from AA to A+ a year ago -- has been "leading the charge to downgrade American debt over the last 12 months," The Guardian reported. In August Standard & Poor's joined in.

By the way, by order of the Congressional Budget Act of 1974 it's the president's job to prepare and submit a federal budget to Congress by the second Monday in February for the fiscal year that begins on October 1.

While repeatedly blaming Republicans for the fact that the Democrat controlled Senate refuses to pass his jobs bill -- so he can spend another $457 billion "right away" -- Republican Speaker of the House reminds Obama he is over 900 days late on presenting his budget to Congress.

Source: http://us.rd.yahoo.com/dailynews/rss/obama/*http%3A//news.yahoo.com/s/ac/20111114/pl_ac/10432385_obama_says_were_lazy__but_at_least_were_not_spineless

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Nokia Has a Windows 8 Tablet in the Works for 2012 [Rumors]

The general manager of the French division of Nokia has just let slip one enormous great secret, revealing plans for a Nokia made Windows 8 tablet. And it'll be launching next summer. More »


Source: http://feeds.gawker.com/~r/gizmodo/full/~3/mrWdfBHjwt4/nokia-has-a-windows-8-tablet-in-the-works-for-2012

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Cities with the fewest underwater homeowners

President Obama recently announced he would extend the nation?s mortgage refinancing program in an effort to provide relief to homeowners whose mortgages are worth more than the value of their homes. With 11 million underwater households no one can claim the housing crisis over. However, some regions have survived the crisis better than others. In those areas, home values are either stable or rising, and unemployment is below the national average.

24/7 Wall St. has identified the markets with the least underwater homes. When the housing bubble was in full swing in the beginning of the 2000s, millions of Americans bought new homes at historic high prices. Based on the belief that property values continue to rise, it seemed a good strategy. However, when the housing bubble finally burst and the recession began, home values declined sharply, unemployment skyrocketed, and homeowners could no longer make their mortgage payments.

24/7 Wall St.: American cities sunk by underwater mortgages?

Strong employment and housing markets went hand in hand. Regions that added jobs also had sizzling housing markets. Of course, the housing boom in these areas contributed to further job growth. In places like Las Vegas, which saw major job growth during the the boom, home prices increased by 36 percent during the first half of the decade. When the market collapsed, these regions were hurt the most. The extension of the Home Affordable Modification Program, which is considered a failure by many economists, may provide a shot in the arm to such markets.

It appears the only places that managed to survive this crisis were those that were suffering economically at the time when people were building and buying new homes. These cities, which include Rochester, Buffalo, and Pittsburgh, were in many cases former industrial powerhouses that have been steadily losing jobs for the past 40 years. In these regions, home values remained stable during the crisis and relatively few risky mortgages were taken out on new homes.

Now, these regions, which did not benefit from the nation?s housing boom, are doing better than most. Because fewer homes were built in the last decade and these cities are now adding jobs, prices have remained stable and even increased.

Using data obtained from housing data and analytics firm CoreLogic, 24/7 Wall St. has identified the ten regions built around an urban center ? core-based statistical areas ? with housing markets that had the lowest percent of homes with underwater mortgages. We compared the data to the number of REO sales (sales of homes that had been repossessed) and distressed sales (sales by homeowners who could not continue to make mortgage payments) for the same regions. We obtained unemployment data from the Bureau of Labor Statistics. We obtained data on homes built since 2000 from the U.S. Census Bureau.

Here is 24/7 Wall St.?s ten cities with the fewest underwater mortgages.

10. Honolulu, Hawaii

  • Percentage of homes underwater: 6.58
  • 12-Month home price change: +6.97 percent
  • Unemployment: 5.5 percent
  • Homes built since 2000: 11 percent

The value of homes in the Hawaii region has gone up nearly 7 percent in the past 12 months, which is one of the biggest price increases in the country, according to enterprise risk management firm VeroFORECAST. Honolulu owes its strong housing market to a low unemployment rate ? just 5.5 percent ? as well as a general high demand for homes. Properties on the island have a much higher value than the U.S. average. According to the Census Bureau?s housing statistics, 58.3 percent of Honolulu?s homes are worth $500,000 or more, compared to the national average of just 10.5 percent.

24/7 Wall St.: America?s worst housing markets poised to recover

9. Pittsburgh, Pa.

  • Percentage of homes underwater: 5.93
  • 12-Month home price change: +4.39 percent
  • Unemployment: 7.8 percent
  • Homes built since 2000: 6.7 percent

About 94 percent of all homes in the Pittsburgh region are more valuable than their mortgages. Homeowners in the region are fiscally sound. The 7.8 percent unemployment rate is significantly lower than the national average of 9.1 percent. In addition, the costs associated with owning a home ? mortgages, insurance payments, and taxes ? are lower than the national average. According to the Pittsburgh Tribune-Review, many are choosing to buy homes in the region because housing is affordable and foreclosures are relatively low. Last year, Forbes named Pittsburgh as the best place to buy a Home. This year, the city was rated second.

8. Oklahoma City, Okla.

  • Percentage of homes underwater: 5.71
  • 12-Month home price change: +0.83 percent
  • Unemployment: 5 percent
  • Homes built since 2000: 15.8 percent

Oklahoma City was rated by Forbes as the fourth best city to buy a home, citing the region?s good conditions for employment. Among the 372 Metropolitan Statistical Areas in the U.S., Oklahoma City has the 11th lowest unemployment rate, at just 5 percent. According to NewsOK, despite the relatively good condition of the local housing market, regional officials are still thankful for the changes to the Affordable Refinance Program.

7. Lancaster, Pa.

  • Percentage of homes underwater: 5.44
  • 12-Month home price change: -1.83 percent
  • Unemployment: 7.3 percent (tied for 93rd lowest)
  • Homes built since 2000: 10.6 percent

Lancaster, located in Pennsylvania?s Dutch country, has one of the healthiest housing markets in the country, with just 5.44 percent of homes with underwater mortgages. The region has low unemployment, and 95.5 percent of homes are occupied, compared to a national rate of 86.9 percent. This year, Forbes rated Lancaster as the 7th best place to buy a home, citing low unemployment and affordable housing.

24/7 Wall St.: America?s richest (and poorest) states

6. Huntsville, Ala.

  • Percentage of homes underwater: 5.30
  • 12-Month home price change: -4.39 percent
  • Unemployment: 8.1 percent
  • Homes built since 2000: 21.7 percent

Only 9.1 percent of home sales in Hunstville, Alabama are made by owners who can no longer afford to make mortgage payments. Part of the reason for this is the relatively small expenses owners have to incur to keep the home, such as mortgage and insurance payments. In 53 percent of the region?s homes, these costs for homeowners are less than 20 percent of their annual income. In the U.S. as a whole, only 33 percent of homes are in that favorable position.

5. Fayetteville, N.C.

  • Percentage of homes underwater: 4.56
  • 12-Month home price change: +1.14 percent
  • Unemployment: 6.6 percent
  • Homes built since 2000: 21.6 percent

The expenses that come with owning a home include mortgage and insurance payments, real estate taxes, and heating costs. Nationwide, nearly 30 percent of homeowners pay more than 2,000 or more on such expenses. In Fayetteville, North Carolina, just 10 percent pay that much. Unemployment in the region is relatively high, at 10.4 percent, but low costs and rising home values in the region help keep more than 95 percent of the region?s mortgages above water.

4. Buffalo-Niagara Falls, N.Y.

  • Percentage of homes underwater: 4.22
  • 12-Month home price change: 3.92 percent
  • Unemployment: 7.3 percent
  • Homes built since 2000: 5.3 percent

Buffalo home values have been declining for years as businesses have slowly left the region. However, the housing market is beginning to pick up in the region. As reported in USA Today, the Buffalo housing market remained sluggish during the housing bubble, and so it didn?t suffer from the collapse most of the country experienced. In the article, Bonnie Clement, a local realtor, explains: ?We?ve never had a market that has gone way over the top, and, therefore, we don?t have a market that?s now falling down.? In the past 12 month period, home values have increased by nearly 4 percent.

24/7 Wall St.: America?s ten largest newspapers

3. Albany-Schenectady-Troy, N.Y.

  • Percentage of homes underwater: 4.01
  • 12-Month home price change: -0.90 percent
  • Unemployment: 6.7 percent
  • Homes built since 2000: 9.6 percent

Just 4.01 percent of mortgaged homes in the Albany region are worth less than their mortgages. Like Buffalo, the region didn?t experience much of a housing boom with the rest of the nation, and so the market hasn?t suffered as much in the aftermath. Only 9.6 percent of currently standing homes were built in the past ten years, compared to a national average of 14.9 percent. Unemployment in the region is just 6.7 percent, and just 2.58 percent of home sales were made because owners could no longer afford upkeep.

2. El Paso, Texas

  • Percentage of homes underwater: 3.89
  • 12-Month home price change: +5.73 percent
  • Unemployment: 10.6 percent
  • Homes built since 2000: 19.6 percent

In the past 12 months, home prices in El Paso have increased by 5.73 percent, while prices nationwide have dropped by 4.4 percent. The housing market in the region, according to the El Paso Times, is exceedingly tight. Just 8.2 percent of homes are vacant, compared to a national rate of 13.1 percent. According to the article, El Paso is seeing ?Historically low home mortgage rates, including a drop below 4 percent for the first time ever early this month?? This has helped increase home value in the area.

1. Rochester, N.Y.

  • Percentage of homes underwater: 3.41
  • 12-Month home price change: +0.25 percent
  • Unemployment: 7.1 percent
  • Homes built since 2000: 7.2 percent

Just 3.41 percent of mortgages in the Rochester, N.Y. region are underwater mortgages. This is the lowest rate in the country. The story for Rochester is very much the same as its regional neighbors Albany and Buffalo. The housing boom failed to reach the area, and so very few new homes were built. In the U.S., 8.8 percent of all homes were built between 2000 and 2005. In Rochester, just 4.1 percent of current homes were built during that period. Foreclosure rates have been extremely low in the region. In the past recorded 12-month period, just 2.89 percent of home sales were of formerly foreclosed-upon homes.

Source: http://www.msnbc.msn.com/id/45229431/ns/business-real_estate/

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Ice Cream Sandwich source code released, sync pending go-ahead from AOSP

If you're champing at the bit waiting to get your hands on a nice cool piece of Android 4.0, your wait may soon be over. Pending a final go-ahead from the Android Open Source Project, you'll be able to sync the now available Ice Cream Sandwich source code. Due to the "large push" (presumably because of all the changes), the roll out is going to take some time to complete -- project members will give the final word when things are good to go. If you try to sync prematurely, be forewarned that you'll get an incomplete copy that will be useless. The available flavor is 4.0.1 which will be the version to ship on the Galaxy Nexus, the first ICS device. This release also includes "the full history of the Android Code," signaling the first time Honeycomb source has seen daylight. Can't wait for a taste? The extremely impatient can hit that coverage link below, but we prefer our frozen treats to be properly chilled before consumption.

[Thanks to everyone who sent this in]

Ice Cream Sandwich source code released, sync pending go-ahead from AOSP originally appeared on Engadget on Mon, 14 Nov 2011 17:55:00 EDT. Please see our terms for use of feeds.

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