Profiles
Existing Home Sales Rise, Beating Projections
In a sign that the recession may be lessening in its intensity or even receding (yes, we may be witnessing the recession of the recession, which might consequently be called the accession!), existing home sales have continued to rise, both in terms of raw numbers and percentages.
The housing sector got a shot in the arm Monday with existing home sales rising at a greater-than-expected rate during April. Though the boost was probably fueled by the federal government’s tax-credit deadline, some analysts believe that the recovery in the industry will continue, though there may be some pullback in the next few months.
On Monday the National Association of Realtors reported that existing home sales rose 7.6% in April to 5.8 million, from 5.4 million in March, ahead of Wall Street’s estimates of 5.6 million.
This should give the housing market a shot in the arm, though we still have a long way to go before housing prices reach the heights they were at in 06/07–though many industry experts have suggested we do not want prices to rise so high again, so soon.
Delta-US, no Southwest
Delta Airlines and US Airways have been trying to work out a deal for quite some time. They want to swap access to certain runways at Reagan International Airport in Washington D.C. and LaGuardia Airport in New York. However, the deal has been held up by federal regulators from the Department of Transportation, who say they are trying to prevent a monopoly from occurring.
Delta Air Lines Inc. and US Airways Group Inc. sought to win regulatory approval for their New York and Washington expansion plans by offering some takeoff and landing slots in the cities to four smaller carriers.AirTran Holdings Inc., Spirit Airlines Inc. and WestJet Airlines Ltd. would get as many as five slot pairs each from Delta at New York’s LaGuardia airport, while JetBlue Airways Corp. would receive access to Washington’s Reagan National from US Airways, according a Delta-US Airways statement yesterday.
One company is noticeably absent from the packages, Southwest. Is this because they are a competitor who is too strong? I’m curious.
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