Case-Shiller Index: Homes prices unchanged in October
Home prices in the Top 20 Metropolitan Areas remained unchanged in October, according to the Standard & Poor’s Case-Shiller Index. The big winners were Phoenix and San Francisco with 1.3% and 1.2% increases respectively over September. The biggest loser in this current market downturn continues to be Las Vegas where prices are off 55.4% from their peak. Overall, home prices in the Top 20 Metropolitan Areas were down 29% from their collective peak .
Here’s a look at how the individual Top 20 Metropolitan Areas are performing: Read more
Amazon: E-books outsell physical books for the first time ever
Amazon reported that, for the first time ever, e-books outsold physical books. This milestone occurred on Christmas Day, more than likely due to people who received Kindles for Christmas. Amazon’s Kindle Store now stocks over 390,000 e-books. Amazon also stated that the Kindle became the most gifted item in their history. Read more
Merry Christmas from The Upper Deck Blog!
The Upper Deck Blog has only been in existence for less than two months, so this is my first Christmas as an official blogger. If you’re a regular reader of The Upper Deck Blog, thank you for your continued support. If this is your first time here, I hope that you will take the time to read my other articles. I try to add a fresh perspective to every article I post.
Please take this time to be with family and friends. Even if you don’t believe in the premise of Christmas, it’s OK to invoke the Holiday Spirit.
Merry Christmas!
New DOT Consumer Rule Limits Airline Tarmac Delays
The United States Department of Transportation, USDOT, issued a new rule today that prohibits U.S. aircraft on domestic routes from remaining on a tarmac for more than three hours with passengers aboard. The only exceptions would be for “safety or security or if air traffic control advises the pilot in command that returning to the terminal would disrupt airport operations. U.S. carriers operating international flights departing from or arriving in the United States must specify, in advance, their own time limits for deplaning passengers, with the same exceptions applicable.” Read more
U.S. Tax Court lets drunk driver write off damaged truck
Reversing an IRS rejection of a write off for a drunken driver, the U.S. Tax Court allowed a $33,629 casualty loss deduction. Justin Rohrs wrecked his 2006 Ford-350 pickup truck in 2006. In its decision, the U.S. Tax Court stated that driving after drinking doesn’t amount to willful negligence in of itself. Had the court found there was willful negligence, the deduction would’ve been disallowed. The judge in the case also stated that Rohrs was “reasonably unaware” that he was doing something wrong. Rohr’s insurance company did reject the claim due to the DUI citation.
