The bottom line
The median price of a new home in the U.S. fell to $217,800 in October, a 13 percent drop from October 2006. It’s the biggest decline since 1970. . .
The median price of a new home in the U.S. fell to $217,800 in October, a 13 percent drop from October 2006. It’s the biggest decline since 1970, when the median price of a new home was $22,600.CNNmoney.com
The 40 richest people in India are worth a combined $350 billion, more than twice what the group was worth last year. Forbes
Stock prices tend to rise on sunny days and fall when the sky is overcast, according to several academic studies. One analysis of stock prices in several markets found that stocks produced an annualized total return of 25 percent on predominately sunny days, but only 9 percent on cloudy days.New York Post
AT&T will completely phase out its pay telephone business next year. The first pay phone was built in 1878, two years after Alexander Graham Bell invented the telephone. But as mobile phones have become ubiquitous, revenues from pay phones have shrunk every year since 1998.Marketwatch.com
Online shoppers this year spent $733 million on “Cyber Monday”—the Monday after Thanksgiving—a 21 percent jump over last year. In the spirit of “Black Friday,” the day after Thanksgiving, the National Retail Federation came up with “Cyber Monday” in 2005, to promote online shopping.Bloomberg.com