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Showing posts from June, 2012
  Boomers To Shape Housing Market For Next Two Decades. When it comes to the swooning housing market, sometimes it seems only a knight in shining armor can save it, and according to some experts, that salvation could come in the form of the so-called echo boomer generation. About 62 million strong, echo boomers—Americans roughly between the ages of 17 and 31—will shape the next two decades of the housing market, according to the National Association of Realtors, noting that young homebuyers already make up 31 percent of all recent home purchases. "Clearly it's a significant demographic group," says Charlie Young, president and CEO of ERA Real Estate. "With about 5 million turning 21 every year, they're going to be driving the first-time homebuyer market for years to come." "I believe the market will be fueled by the coming of age of this generation," he adds. But rescuing the ailing housing market is
Cooling Down Summer A/C Bills By KELLI B. GRANT T he dog days of summer may not be as big a burden on household energy bills this year.   Natural gas prices are down 46% compared with last year, due to increased supply and a mild winter, according to the Energy Information Administration. Utilities that use natural gas to generate electricity are passing their savings along to customers in the form of lower rates. "The bills are coming down in some areas," says Keith Voight, a spokesman for the Edison Electric Institute, an association of shareholder-owned electric companies. In New Jersey, for example, the Board of Public Utilities estimates that Public Service Electric & Gas customers could see rates drop 3.6%. Nationwide, "we may not see full effect happening until next year," says Tyler Hodge, an economist with the EIA. Electricity rates are projected to increase a modest 0.6% this year, he says, and fall 2.1% in 2013 -- the first