University of Louisville professor Paul Coomes spoke Tuesday morning at the Kentucky Association for Corporate Growth breakfast. He outlined the ways in which the current recession—although he says it has been over for a year—has been lighter than previous recessions in 1982, 1974 and The Great Depression. Coomes compared unemployment rates, average salaries, and real… Continue reading Economist Paul Coomes Qualifies Recent Recession
Local homebuilders are hailing Congress’s passage of an extension to the first-time home buyer’s tax credit. The popular tax credit was originally passed as part of the stimulus package, and was set to expire at the end of this month. But last week, the president signed legislation extending the eight-thousand dollar credit until April first.… Continue reading Homebuilders Hail Tax Credit Extension
The Louisville Property Valuation Administrator’s office has been conducting a two-year study of home foreclosures. Spokesperson Donna Hunt says the county saw about 2000 foreclosures last year.
As Congress works out details this week on a proposed credit plan for Fannie Mae and Freddie Mac, Kentucky’s junior senator says he’s wholly opposed to the idea. U.S. Treasury Secretary Henry Paulson has been pushing the legislation, which is expected to come to a vote this week. The proposal would allow the government to… Continue reading Kentucky's Bunning Opposes Fannie/Freddie Rescue Plan