PRESS DIGEST - Washington Post Business - May 26
WASHINGTON, May 25 (Reuters) - The Washington Post included the following items on the front page of its business section on May 26. Reuters has not verified these stories and does not vouch for their accuracy.
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WASHINGTON - The Obama administration is attempting to revive a stalled government foreclosure prevention program that could restore equity to hundreds of thousands of borrowers whose home values have plummeted. After eight months, the program, known as Hope for Homeowners, has helped just one borrower secure a more affordable loan.
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WASHINGTON - The Washington area market for office space has suffered one of its toughest stretches ever so far this year, as vacancy rates have shot up, rents have dropped and few new buildings have started construction. The slump is likely to continue for the rest of 2009, real estate experts say, as roughly 11 million square feet of new space is under construction and expected to come on line in the coming years.
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WASHINGTON - We're about to mark the anniversary of the financial meltdown. But don't expect to see any clinking of champagne glasses, because except for a handful of prescient (or lucky) investors, it's been a ghastly two years. The nightmare started June 12, 2007, when news broke that two Bear Stearns hedge funds speculating in mortgage-backed securities were melting down.
