Watch for an intergalactic battle to come in the second half of this year as the Armies of Consumer Protection take on the Forces of Financial Product Innovation. Legislation has been introduced in Congress to create a Financial Product Safety Commission that would govern mortgages and other consumer lending products.
Renters now have more protection against losing their homes under the new foreclosure prevention bill President Obama signed into law yesterday afternoon.
Oh, those zany Brits! A lodging Web site ran a promotion offering a customized anti-homesickness package. It includes custom-made aerosol spray replicating scents from your home. That got me wondering what a spray can of Chez Razzi might smell like.
The scream of a circular saw in my house this weekend might have convinced a passerby that there was a whole lot of construction going on inside. Actually, it was just a tiny do-it-yourself job that might more appropriately be considered decorating rather than remodeling. But it still represents the first home-improvement spending we've done since late last summer when it became clear that the economy was starting to fall apart. Looking at the news I see that we're not alone taking baby steps back toward spending. On May 14, the National Association of Home Builders reported a jump in its Remodeling Market Index--improving from abysmal to simply bad.
Question: I got very excited when I heard about the $8,000 first-time buyer tax credit, but then a friend told me it caps at a modified adjusted gross income of $75k. Yikes!