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Restoring balance, Retreating equity
Good day for curbing workaholism, Bad day for safety in houses
 

GOOD DAY FOR: Curbing workaholism, after the city council of South El Monte, Calif., imposed a curfew on Mayor Blanca Figueroa, known for working late into the night. Over Figueroa’s objections, the council voted, 4-1, to ban its members—including the mayor—and city staff from using City Hall past 11 p.m. most nights. The council cited safety and liability concerns. (San Gabriel Valley Tribune)

BAD DAY FOR: Safety in houses, after the real estate website Zillow reported Monday that U.S. homes lost $1.9 trillion in value in the first three quarters of the year and are on track to shed well over $2 trillion for all of 2008. Home values nationwide had dropped 8.4 percent so far this year, compared with 2007, and the decline is highest in Stockton, Calif., which has seen a 32.3 percent plummet. In all, 11.7 million U.S. households—14.3 percent—owed more on their mortgage than their houses are worth. (Reuters)

 

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