Americans Look for Ray of Hope in Economic Gloom

BusinessAmericans Look for Ray of Hope in Economic GloomAmericans Look for Ray of Hope in Economic GloomThe Associated PressAmid the gloom of higher gas and food prices and a slumping housing market, Americans appear to be looking for a bit of hope. (July 29)New data show home prices dropped by the steepest rate on record in May and Americans remain the most pessimistic about the economy since the end of the last prolonged recession 16 years ago.Home prices bore the brunt of the battered economy with their worst showing since 2000. [Notes:Graphic: US Map. shows home prices by 20 and 10 city index] The Standard&Poor's/Case-Shiller 20-city index showed prices falling by 15.8 percent compared with a year ago and 18.4 percent since their peak in July 2006. The 10-city index plunged 16.9 percent, the biggest decline in its 21-year history. Las Vegas recorded the worst drop, with prices plunging 28.4 percent. Miami came in a close second, with prices down 28.3 percent. [Notes:Graphic: Shows Consumer Confidence reading for July. Rising to 51.9 from 51 in June; Expectations Index increasing to 43.0 from 41.4 and Present Situation Index, flat at 65.3, compared to 65.4 in June.]Consumers meanwhile, appear to be looking farther down the road for signs of relief. The Conference Board said its readings show that while consumers remain grim about their short-term prospects, the modest improvement in their outlook provides a glimmer of hope. [Notes:R-Roll - New York Stock Exchange]That's a welcome signal for investors worried about the mood of consumers, which is key because their spending accounts for more than two-thirds of U.S. economic activity. ___ ___, The Associated Press.(****END****)

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• economy
• americans
• ray
• hope
• economic
• gloom

[RondoRaven]

I'm a consumer and I'm hungry. Where can I get some investor-on-a-stick?

[inevitablekiller]

relevant to the more economic cities like vegas the prices are dropping because of economic probelms between buyers n sellers. Goin about bargaining on lower prices shows how valuable it rly will be to who you are actually paying all this too. When ppl start investing like this be sure to see the same steps have occured, yet now theres more steps, to the last depression. Just dont take any bullshit from anyone. especially of better reputation or position than yourself. Be smart