SCOTT LINNETT / Union-Tribune
Vicky Trees recently bought a foreclosed condo in Tierrasanta for $315,000. Her friend Terry Sapp, a mason, installed tile around her fireplace. |
Housing slump in no hurry to end
County prices drop 25.3 percent year over year
By Roger Showley
and Emmet Pierce
STAFF WRITERS
Despite the arrival of the traditional peak summer home-buying season, DataQuick Information Systems yesterday reported no sign of an easing in the housing downturn. Prices in San Diego County slipped by yet another year-over-year record of 25.3 percent to a median $370,000. Sales in June, while higher than those for May, were the second-lowest on record for the month at just over 3,000.
GM to cut $10 billion in costs, sell assets
Automaker suspends dividend, says more tough times ahead
By Bill Vlasic
NEW YORK TIMES NEWS SERVICE
DETROIT – With concern growing among investors about a possible bankruptcy filing, General Motors yesterday announced sweeping cost cuts and other measures to bolster its tenuous cash position.
Market ends off even as oil prices fall
Dow closes below 11,000 for first time in two years
ASSOCIATED PRESS
NEW YORK – Wall Street ended a whipsaw day mostly lower, as fears of escalating instability in the financial sector kept investors on edge despite a steep retreat in oil.
Lawmakers question Fannie/Freddie plan
NEW YORK TIMES NEWS SERVICE
WASHINGTON – The Bush administration's plan to rescue the nation's two largest mortgage finance companies ran into sharp criticism in Congress yesterday as some lawmakers questioned the open-ended request for money that could be used to help the companies.
Brewer may look to unload SeaWorld
InBev is expected to sell some assets
By Christopher Leonard
ASSOCIATED PRESS
ST. LOUIS – When Anheuser-Busch executives announced a cost-cutting plan in June, they surprised analysts by not proposing to sell the company's amusement parks and entertainment holdings, including San Diego's SeaWorld.
