Mark Vitner News
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Just a year since the U.S. housing market hit bottom after the biggest plunge in eight decades, signs of excess are re-emerging.
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DJ Steve Aoki sprayed champagne on attendees before selecting some to surf the crowd on an inflatable raft during opening week of the Hakkasan night club in Las Vegas last month.
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Residential real-estate prices increased in February by the most since May 2006, showing the U.S. housing market is strengthening.
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The index of U.S. leading indicators unexpectedly declined in March, and manufacturing in the Philadelphia region slowed this month, adding to evidence the economy will cool.
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Government spending cuts set to take effect this week will be felt at the local level as everyone from defense contractors in Virginia to waitresses in New Mexico take a hit. The overall impact on the U.S. economy may be more muted.
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The slump in gold may hand activist central bankers more reasons to pursue the easy monetary policy that helped drive up the metal’s price in the first place.
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Calls by U.S. voters for smaller deficits are clashing with their demands for more jobs.
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Americans’ drive to rebuild savings and pay down debt may mean the gains from the current mini boom in mortgage refinancing will accrue over years rather than have a more immediate effect on the U.S. economy.
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Atlantic superstorm Sandy may cut U.S. economic growth as it keeps millions of employees away from work and shuts businesses from restaurants to refineries in one of the nation’s most populated and productive regions.
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The era of increasingly cheap money that fueled the housing recovery and record home-lending profits is showing signs of ending in the mortgage bond market.
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