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Economy: Home Sales #911951

NBC Evening News for Tuesday, Jul 29, 2008
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(London: Brian Williams) Report introduced.

(Los Angeles: Scott Cohn) The ripple effect of the decline in home prices examined; statistics cited; details given of the impact on state and local governments due to falling property tax revenues and the fall in consumer confidence. [Los Angeles home seller Cheryl CROMWELL‡- says she has no offers.] [New York Governor David PATERSON†- says this situation will get worse before it gets better.] [Service Employees International Union president Yvonne WALKER†- reacts to California Governor Arnold Schwarzenegger’s threat to cut state employees’ pay.] [Economist Donald STRASZHEIM††- notes it could be an enormous hit to the finances of municipal governments.] The closing of Bennigan’s restaurant chain due to bankruptcy noted. [WOMAN – reacts.]

Williams, Brian;
Cohn, Scott

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