Few Western countries are as conservative about home ownership as Germany, where less than half the country's citizens own property.
German banks have tough lending rules. Would-be buyers are usually asked to provide hefty down payments to secure mortgages, meaning few Germans even think about buying a home until they are settled and financially secure.
But the European debt crisis appears to be changing the traditions around home ownership. The resulting surge in homebuying, some officials warn, is driving prices too high and threatens the nation's economy.
The latest figures show December was another month of steady, moderate job growth. But for many people still struggling with long-term unemployment, the situation hasn't actually changed much at all.
For Alecia Warthen, the last eight months have been painfully stagnant.
She was the first person in her family to finish college, after growing up in one of the roughest sections of Brooklyn. She had earned an accounting degree and worked as a bookkeeper for most of the last decade.
Originally published on Sat January 5, 2013 1:12 pm
An earthquake with a magnitude of 7.5 hit off the coast of southeastern Alaska just before midnight local time Friday, according to the U.S. Geological Survey. The USGS initially reported the event as a magnitude 7.7 quake.
The National Oceanic and Atmospheric Administration says sea level readings indicate the quake caused a tsunami. "It may have been destructive along coasts near the earthquake epicenter," a NOAA report said.
On the tough side of Terpsichore Street in New Orleans stands a duplex — a two-story, wood-framed building with wood floors, high ceilings and a nice fireplace. But this old house is empty: no furniture, no walls, no electricity, no toilet. Iron bars hide the windows; there's a lockbox on the door. The facade is three different shades of blecch, blurgh and blah.