Real estate recovery signs, and Michael Bloomberg's idea of low pay

Good day for: Moving, as the number of people buying existing homes in April posted the largest monthly jump in nearly eight years, according to the National Association of Realtors. The statistic suggests that sales the long and painful slump is nearing an end, Jennifer Lee, an economist at BMO Capital Markets, wrote in a note to clients. "Now if only prices would stabilize." (AP in Yahoo Finance)

Bad day for: Relating to the common man, as billionaire Mayor Michael Bloomberg said at a campaign event Monday that President Obama, who earns $400,000 a year and has made millions of dollars from book sales, "doesn't get paid that much" and is "on a budget" like millions of Americans. Forbes magazine ranks Bloomberg, whose net worth is $16.5 billion, as the 17th wealthiest person in the world. (BusinessWeek)

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up