Housing Market Still Keeping Economy Down
The Federal Reserve said this week that the "pace of the economic contraction is slowing." But house prices are still falling, and some analysts - including former Fed chairman Alan Greenspan — say the economy can't go up until house prices stop going down. David Wessel of The Wall Street Journal talks with David Greene about the housing industry.
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RENEE MONTAGNE, host:
We wrap up this part of the show with Michael Jackson. One of the many tragic aspects of his death is that fans were on the brink of seeing him again in concert. Promoter AEG Live took a gamble when it decided to back the shows in London. Skeptics said the pop star wouldn't follow through and insurers shied away. But the demand for tickets was so great, the run was extended to 50 concerts. The concert promoter will now refund $85 million dollars in tickets, though in the many, many Twitter posts, this one showed up: A fan suggested the arena in London could host 50 tribute concerts to replace the 50 that Michael Jackson won't be performing himself.
And that's the business news on MORNING EDITION from NPR News.
I'm Renee Montagne.
DAVID GREENE, host:
And I'm David Greene.
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