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.
This week saw both a frantic finale to the much-unloved 112th Congress and, hours later, the swearing in of the new 113th. The cast of lawmakers and their leaders is mostly unchanged. The same can be said for Capitol Hill's never-ending drama over taxes, deficits and spending.
What was arguably this week's most sensational congressional moment did not even take place in Washington. On Wednesday in Trenton, N.J., Republican Gov. Chris Christie blasted the GOP-led House for closing down the last Congress without even considering a Superstorm Sandy disaster relief bill.
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 2:12 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.