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U.S. Army Captain Michael Kelvington, commander of the Battle company, 1-508 Parachute Infantry battalion, 4th Brigade Combat Team, 82nd Airborne Division, bows next to remains of Gulam Dostager, a member of Afghan Local Police who was killed in the blast of an Improvised Explosive Device (IED) during the joint Tor Janda (Black Flag in Pashtu) operation, in Zahri district of Kandahar province, southern Afghanistan May 25, 2012. REUTERS/Shamil Zhumatov (AFGHANISTAN - Tags: MILITARY CIVIL UNREST CONFLICT TPX IMAGES OF THE DAY)

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U.S. Army Captain Michael Kelvington, commander of the Battle company, 1-508 Parachute Infantry battalion, 4th Brigade Combat Team, 82nd Airborne Division, bows next to remains of Gulam Dostager, a member of Afghan Local Police who was killed in the blast of an Improvised Explosive Device (IED) during the joint Tor Janda (Black Flag in Pashtu) operation, in Zahri district of Kandahar province, southern Afghanistan May 25, 2012. REUTERS/Shamil Zhumatov (AFGHANISTAN - Tags: MILITARY CIVIL UNREST CONFLICT TPX IMAGES OF THE DAY)

Reuters Photojournalism

Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography.  See more | Photo caption 

Members of the U.S. Navy Blue Angels fly over the World Trade Center in lower Manhattan as part of the 25th annual Fleet Week celebration in New York, May 23, 2012. REUTERS/Eduardo Munoz (UNITED STATES - Tags: MILITARY ANNIVERSARY TPX IMAGES OF THE DAY)

Fleet Week

The U.S. Navy takes Manhattan for a week.  Slideshow 

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The SpaceX mission

A privately owned unmanned rocket blasts off on a mission to be the first commercial flight to the International Space Station.  Slideshow 

Home prices fell in August vs July: FHFA

NEW YORK | Thu Oct 23, 2008 10:40am EDT

NEW YORK (Reuters) - U.S. home prices fell 0.6 percent in August versus July, the Federal Housing Finance Agency said on Thursday.

For the 12 months ending in August, U.S. home prices fell 5.9 percent, and the cumulative decline since the April 2007 peak is 6.5 percent, according to the Federal Housing Finance Agency's House Price Index.

The FHFA monthly index, formerly called the OFHEO monthly house price index, is calculated using purchase prices of houses backing mortgages that have been sold to or guaranteed by Fannie Mae FNM.P or Freddie Mac FRE.P. The index was introduced in the Office of Federal Housing Enterprise Oversight's fourth quarter 2007 House Price Index, or HPI, report.

The report is found on Web site www.ofheo.gov.

(Reporting by Julie Haviv)
U.S.
Housing Market
Crisis in Credit
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