Archive for July, 2009

By Caroline Valetkevitch / Guardian.co.uk
June 25, 2009

NEW YORK, June 25 (Reuters) - U.S. stocks rose sharply on Thursday, helped by consumer discretionary shares after Bed Bath & Beyond Inc posted a surprising profit increase and home builder Lennar Corp reported a rise in new home sales.

Lennar posted a wider quarterly loss, but noted an increase in new sales and orders. Its stock shot up 16.5 percent to $9.11.

The Dow Jones U.S. home construction index jumped 5.7 percent. Gains in home builders and retailers point to signs of strength in consumer spending, which could be a boon for stocks just as the second-quarter earnings reporting period gets under way.

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By Steve Brown / The Dallas Morning News
June 7, 2009

Earlier this year when federal lawmakers voted to give first-time homebuyers a tax incentive, they hoped the move would boost home sales.

And that seems to be happening.

The offer of an $8,000 tax credit – combined with low mortgage rates – has lured thousands of buyers to the beleaguered housing market.

Keller resident Joe Palacios is one of them. He and his wife are purchasing a new home.

“The tax credit was icing on the cake,” said Palacios, who’s living with friends until the couple’s four-bedroom Pulte home is finished this summer. “My wife and I were looking at apartments that were going for $1,200 a month.

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