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If you’re still having trouble selling your house, you’re not alone.

Sales of previously owned homes in January stumbled considerably for the second consecutive month. The National Assn. of Realtors in Washington said Friday that sales fell 7.2%.

January sales were the lowest since June but 11.5% higher than in January 2009.

Previously owned homes make up the bulk of the nation’s buying activity. Economists said that last month’s sales drop from December was another sign the market is critically weak and unlikely to recover robustly this year as the potential for more foreclosures looms.

Friday’s report follows news this week that sales of newly built homes hit a record low in January and that mortgage applications plunged to their lowest level in nearly 13 years.

The poor-sales data on all these fronts indicated that Congress’ attempt to stimulate the market by extending and expanding a home-buying tax credit through April was having little to no effect on consumer sentiment, economists said.

The credit was extended in November as it neared its expiration and buyers were flooding the market, boosting sales.

“The tax credit wore off,” said economist Christopher Thornberg, a principal with Beacon Economics in Los Angeles. “Now that the tax credit has been extended, it is no longer functional.

“We will get a push close to the end of it, probably in March.”

He said sales could plunge after the tax credit expires April 30.

The Realtors group’s data are based on its proprietary multiple listing service. The group reports an annual sales pace every month that is adjusted to take into account seasonable variations.

Last month’s sales pace was 5.05 million units for the year, the Realtors group said, meaning that many units would be sold if January’s rate carried through for the rest of the year.

The dour housing news came as the government reported that the U.S. economy grew at a slightly faster pace in the final three months of 2009 than estimated.

Gross domestic product rose at an annual rate of 5.9% in the fourth quarter, according to the U.S. Commerce Department. That was up 0.2% from the previous estimate reported by the department.

Private inventory investments, exports, personal consumption expenditures and nonresidential fixed investment were the biggest contributors to that growth, even as imports increased.

Most of that growth was related to business inventory restocking, a temporary factor that is expected to fade in the coming months.

In the Realtors group’s report, the number of existing homes for sale at the end of January fell 0.5% to 3.27 million. That represents a 7.8-month supply at the current sales pace, up from a 7.2-month supply in December. Raw inventory is at its lowest level since March 2006.

Washington policymakers have taken several measures to support the housing market, keeping interest rates low and insuring mortgages for many buyers through the Federal Housing Administration. Last year the Obama administration launched a $75-billion effort to reduce mortgage payments for troubled borrowers, though that program has struggled to make mortgage relief permanent.

Foreclosure properties and other distressed homes remain a big part of the market, accounting for 38% of sales last month and contributing to a drop in prices. The national median price was $164,700 in January, an 8% decline from $178,300 in December, but unchanged from a year earlier.

“For people trying to sell their homes, they are going to be competing with distressed home sales,” said Celia Chen, a housing economist with Moody’s Economy.com. “In order to really understand or predict when the housing market will recover we need to have a good handle on when foreclosures are going to hit the market, and I think there is a lot of uncertainty around that.”

Regionally, previously owned home sales fell 5.2% in the West, 7.4% in the South, 6.9% in the Midwest and 10.9% in the Northeast.

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Charlie Sheen has entered rehab “as a preventative measure,” according to a statement issued Tuesday (February 23) by his publicist, which avoided any further specifics about the actor’s treatment.

Subsequently, CBS (whose parent company, Viacom, is the same as MTV’s) announced a temporary halt to production of the highly rated sitcom “Two and a Half Men” until Sheen is ready to return to work.

“CBS, Warner Bros. Television and [Executive Producer] Chuck Lorre support Charlie Sheen in his decision today to begin voluntary inpatient care at a treatment center,” the statement reads. “We wish him nothing but the best as he deals with this personal matter.”

The 44-year-old actor, best known for roles in films like “Platoon” (1986) and “Wall Street” (1987), made headlines about two months ago when he was charged with felony menacing and misdemeanor charges of third-degree assault and criminal mischief after an argument with his wife, Brooke Mueller, at their Aspen, Colorado, home.

A representative for Mueller told The Associated Press that the 29-year-old is in rehab herself, also for undisclosed reasons. TMZ reported that she’s receiving specialized rehab-style treatment at a private home in Los Angeles, where the couple’s 11-month-old twin boys are staying with her, nannies and a counselor.

This is not the actor’s first stay in a rehabilitation facility. Sheen voluntarily checked himself into drug and alcohol rehab for “exhaustion” in 1990. Eight years later, he was back in rehab after heavy drug and alcohol use put him in the hospital.

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Reporting from Beirut – Washington reopened its diplomatic outpost in Yemen today after shuttering it for two days because of “credible information that pointed to imminent terrorist attacks,” said a statement posted by the U.S. Embassy website in Sana, the capital.

The U.S., Japan and several European nations shut their embassies this week amid worries about rising Al Qaeda activity on the troubled Arabian Peninsula. Western intelligence and counterterrorism officials have put a spotlight on Yemen after the suspect in the attempted Christmas Day bombing of a Northwest Airlines flight asserted that he was handed his instructions by a cleric in Yemen.

U.S. officials said they reopened the embassy today because a Yemeni counterterrorism operation on Monday “addressed a specific area of concern.”

Yemeni officials reportedly killed two and injured two suspected Al Qaeda in the Arabian Peninsula operatives Monday. The Interior Ministry today said it had arrested five other “terror elements” in and around the capital and Hudaydah province.

The ministry said it had beefed up security measures around foreign embassies and residential districts favored by the international community in Sana, according to Yemen’s official Saba news agency. An unnamed official told Saba that security forces had imposed a “cordon” and round-the-clock surveillance around Al Qaeda militants.

“Security protections for embassies are at a high standard of counteraction performance in case of any repulsive attempt,” an official told Saba today.

“The Ministry of Interior emphasizes that all embassies, diplomatic missions and foreign companies are fully secured and there is nothing to be worried about,” the official reportedly said. “Security is maintained and there is no fear for the life of any foreigner or any foreign embassy in the country.”

Still, U.S. officials urged Americans living in Yemen not to take any chances.

“The threat of terrorist attacks against American interests remains high and the Embassy continues to urge its citizens in Yemen to be vigilant and take prudent security measures,” a statement said.

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Although many senators, especially key Republicans, have shown little appetite for backing yet another ambitious bill in the aftermath of the polarizing health-care debate, it is clear that enacting legislation to cap the U.S. carbon dioxide output and allow polluters to trade emission permits is essential to delivering on the pledges that Obama made to other world leaders.

In an interview with The Washington Post last week, Obama said, “There is no doubt that energy legislation is going to be tough, but I feel very confident about making an argument to the American people that we should be a leader in clean energy technology — that that will be one of the key engines that drives economic growth for decades to come.”

White House spokesman Ben LaBolt said the fact that “countries like China and India set carbon-intensity targets for the first time in history” should bolster the administration’s legislative effort.

Since taking office in January, Obama and his deputies have regarded international climate talks as a way to get the sort of commitments from major emerging economies that would allow them to sell a cap-and-trade bill to skeptical lawmakers back home. As part of last week’s accord, the four biggest greenhouse gas emitters in the developing world — China, India, Brazil and South Africa — agreed to list voluntary climate targets as part of an international registry and to allow third-party countries to scrutinize whether the four are making the emission cuts they say they are.

“That was the strategy all along,” said Mark Helmke, a senior adviser to Sen. Richard G. Lugar (R-Ind.), whose vote could be critical to passing a climate bill. “In that context, it was a home run.”

But it is unclear whether that achievement — which came at the expense of getting more ambitious overall climate targets and a clear deadline for a legally binding treating next year — will translate into passage of the bill the administration is seeking.

GOP support will be crucial
Sen. Lisa Murkowski (Alaska), the top Republican on the Senate Committee on Energy and Natural Resources and another swing vote, called language in the Copenhagen deal allowing for verification of developing countries’ carbon cuts “a very small step forward.”

“Right now, the big question is whether the Senate, as a whole, can sit down and craft real bipartisan legislation that protects both the economy and the environment,” Murkowski added. “We need to find ways to move forward in a bipartisan effort that makes sense for America, regardless of whether the rest of the world follows through or not.”

In the wake of the health-care debate, winning Republican support for such a bill is crucial, even if it might mean adding provisions favored by the nuclear and oil industries, or scaling back the legislation’s scope.

“I don’t think the Senate has an appetite for another such epic, polarized legislative war this session,” said Sen. Joseph I. Lieberman (I-Conn.), who met with Sens. John F. Kerry (D-Mass.) and Lindsey O. Graham (R-S.C.) on Wednesday to strategize on how to enlist support for a compromise climate bill they are writing.

It’s a task that becomes more difficult in an election year, when most Republicans and conservative thinkers are eager to attack a policy that will probably raise energy prices in the near term.

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Dolce & Gabbana is based in Milan, Italy and operates under the leadership of founders Domenico Dolce and Stefano Gabbana.

In 1987, the first Dolce & Gabbana showroom was opened in Milan. They went from strength to strength in the late 80s thanks in a large part to endorsements from stars like Isabella Rossellini. Celebrities like Madonna and Whitney Houston also began showing interest in their increasingly more sensual designs It was Dolce And Gabbana in fact who created the costumes for Madonna’s Girlie Show in 1993 and Whitney’s 1999 tour.

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It was just over a decade ago that NATO forces bombed Belgrade in Operation Allied Force, a mission aimed at halting Serbia’s brutal repression of Kosovo. Since then, Serbia has been slowly shaking off its status as a European pariah, inching toward the West and moving away from its historical ally, Russia. Then, on Tuesday, it turned a corner on its path to international respectability by formally entering a bid to join the European Union, a club that includes many of the countries that once tried to pulverize the Balkan nation.

Serbian President Boris Tadic, whose victory last year in a tight runoff election was seen as crucial to the country’s further integration with Europe, submitted the application on a trip to Sweden, the country that currently holds the E.U. presidency. “This is indeed a great day for Serbia. This day represents a crossroads,” Tadic said. “Today we are entering a stage which is very difficult, which demands deep and painful reforms.” Swedish Prime Minster Fredrik Reinfeldt described the move as “a new beginning for Serbia,” but warned, “the road to membership is long and demanding.”
(See pictures of riots in Belgrade.)

The bid comes days after citizens of Serbia, Montenegro and Macedonia won the right to travel without visas to E.U. countries for the first time since the bloody Balkan wars of the early 1990s — a move that some low-cost airlines had already anticipated by adding Belgrade and other airports to their routes. It also follows the E.U.’s decision earlier this month to unfreeze an interim trade and cooperation pact with Serbia — seen as a precursor to eventual E.U. membership.

Belgrade is already working closely with Brussels to make the necessary economic, legal and constitutional reforms to join the E.U. The government is also closely monitoring the European Commission’s “progress reports” on its efforts, the latest of which underlined privatization and fighting organized crime as priorities for the government. And E.U. officials were pleased with the austere 2010 budget approved by Serbian lawmakers Monday that meets the strict terms of a recent International Monetary Fund loan. Belgrade is also rethinking its military options after neighbors Albania and Croatia joined NATO earlier this year, meaning most of Serbia is now surrounded by the alliance that bombed it in 1999. Serbia has already joined NATO’s Partnership for Peace (PfP) program, a cooperation framework for NATO member aspirants.
(See the top news stories of the year.)

But despite Serbia’s newfound enthusiasm for the rest of Europe, officials caution against expecting any swift E.U. accession. Slovenia is only former Yugoslav republic that has managed to join the bloc; Serbia now joins Croatia, Macedonia, Montenegro, Albania, Turkey and Iceland in an ever-lengthening line of aspiring candidates. Almost all of the other applicants are further along the path to membership. And within the E.U., there is growing resistance toward adding new members, a sentiment known as “enlargement fatigue” following the recent accession of a dozen mainly eastern European countries.

Yet the biggest obstacle to Serbia’s membership is the past —specifically Belgrade’s inability to face up to the baleful legacy of the Balkan wars. The E.U. has made the capture of war fugitives Ratko Mladic and Goran Hadzic a precondition to even starting membership negotiations. The two men are believed to be hiding in the Serbian mountains under the tacit protection of key politicians. The Netherlands is particularly keen to see the arrest of Mladic, a Bosnian Serb general indicted by the International Criminal Tribunal for the former Yugoslavia (ICTY) on genocide charges for his alleged role in the slaughter of 8,000 Bosnian Muslims at Srebrenica in 1995. Serbia handed over former Bosnian Serb leader Radovan Karadzic to The Hague last year, and Tadic has said he is committed to meeting Serbia’s international obligations. But Mladic and Hadzic remain on the run and most Serbs reject the idea of handing them over to the ICTY.
(Read: “Karadzic a No-Show at His Bosnia War-Crimes Trial.”)

Another barrier to membership is Serbia’s continuing belligerence toward Kosovo, where about 10,000 people were killed and 850,000 driven from their homes during the war. Although NATO ousted Belgrade’s tanks from the territory in 1999, Serbia still refuses to accept the loss of its province. Indeed, Serbia’s condemnation of Kosovo’s declaration of independence last year even raised concerns about a possible new military intervention. “Serbia still needs to come to terms with the war crimes of the 1990s and go through the painful but essential process of breaking from the stranglehold of the nationalist ideologies that led to the wars,” says Alvaro de Vasconcelos, director of the Paris-based E.U. Institute for Security Studies (EUISS) think tank.
(See pictures of Mitrovica, a northern Kosovar town on the dividing line of Serbian-Albanian tension.)

But he says Serbia is much further along than it was even just a few years ago — a testament to recent efforts by the E.U. to reach out to the country. “It testifies to the effectiveness of European leverage and shows that the E.U.’s democratic inclusion process is working,” de Vasconcelos says. “It shows the soft power of the E.U., the power of attraction —that any European destiny is linked with democratization.”
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Rome, Italy (CNN) — Italian Prime Minister Silvio Berlusconi should be released from hospital Wednesday, three days after he was attacked in the face at a public rally in Milan, his personal doctor told Italy’s ANSA news agency Tuesday.

Berlusconi, 73, should refrain from public activities for two weeks after his release, Alberto Zangrillo said.

The prime minister suffered broken teeth and a fractured nose in the Sunday attack, in which a man threw a souvenir replica of Milan’s cathedral at Berlusconi and hit him in the face.

Zangrillo said he doesn’t believe Berlusconi will suffer permanent scars and that his teeth can be reconstructed.

Berlusconi’s recovery will take another 25 days, Interior Minister Roberto Maroni told Italy’s Lower Chamber of Deputies.

The attacker, Massimo Tartaglia, 42, was arrested shortly after the attack and is now in a Milan prison.

Police found Tartaglia was carrying other objects including pepper spray and a large crucifix in his pockets, which showed the attack was premeditated, Maroni said. Tartaglia had bought the replica of the Duomo di Milano, the city’s central cathedral, at a souvenir shop, he said.

Tartaglia attacked Berlusconi “because he harbored hatred against the premier,” Maroni said.

There has been a climate of hatred against Berlusconi in recent months, Maroni said, with many anti-Berlusconi Web pages. Maroni said he is thinking of introducing regulations to block them.

Maroni’s words echoed those of Senate speaker Renato Schifani, who visited Berlusconi in the hospital Monday and said he was pained by the “hatred” that led to the attack. Berlusconi, a conservative media mogul-turned-politician, has been dogged by allegations of corruption and is the middle of a messy divorce from his second wife.

The three-term prime minister faces trial on tax fraud charges after Italy’s top court struck down an immunity law that shielded him from prosecution. He denies the charges, calling them politically motivated.

His wife of 19 years, Veronica Lario, filed for divorce in May following allegations that an Italian businessman hired escorts for the premier and that he had attended the birthday party for an 18-year-old girl, with whom he has denied having an inappropriate relationship.

Berlusconi remains popular among the Italian public, however, with his approval ratings remaining well over 50 percent. He won a third term in 2008, and his conservative coalition has control of both the Italian Chamber of Deputies and the Senate.

 
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President Obama today kicks off what his administration is calling his “White House to Main Street” road show. First stop on the listening tour: Allentown, PA, coincidentally, my hometown. Obama is headed to the Lehigh Valley because, as Billy Joel pointed out, they closed all the factories down and it’s still getting hard to stay.

Joel wrote that song in the eighties, but the economic hardship for valley residents has returned. In spite of the passing of a $787 billion stimulus package by Obama and Pennsylvania Senators Arlen Specter and Bob Casey, both Democrats, unemployment has gone from bad to worse.

Stimulus funds were funneled to the area, yet the region is still shedding jobs. Pennsylvania’s unemployment as of October was 8.4%, and unemployment for the Allentown area was a depressing 9.3%, one point below the national average.

If you thought the Washington, D.C. “jobs summit” was political posturing, his backdrop in Pennsylvania is equally as orchestrated.

Obama plans to visit one of the only local bright spots: Lehigh Carbon Community College, an institution that, by standards, is doing well. There are two reasons for this: stimulus money, a portion of which is funding renovations to their athletic facility providing temporary construction jobs (In essence, no long-term employment of any consequence.); and the fact that the college is the only cost effective option for an education. But apart from a few part-time shifts for college students and one full-time administrator, how many jobs will the facility really create? Not many, and we’re spending a whopping $80K of taxpayer money to create each one.

If Obama wants to see really hardship he should visit some small businesses instead of cherry-picking a facade.

Congressman Charlie Dent, who represents the Keystone State’s 15th district plans on holding his own jobs roundtable today that will include small business owners, a group that was notably left out of Thursday’s D.C. forum.

Dent says that though he’s pleased the President picked his hometown to listen, the last thing the region needs is talk.

“You don’t need a whistle stop campaign event to figure out that people in Pennsylvania are hurting.”
Though the saying goes “less talk and more action,” it’s the kind of action on Obama’s domestic agenda that’s poised to further send the country into an employment ditch.

“The health care bill, as it relates to jobs, is bad news. There is a surtax on income; a third of that will be taken from small business. The employer mandate and its 8% penalty will force many small business owners to cut payroll in order to provide the benefit. The medical device tax will imperil jobs — at local manufacturers like B. Braun — and stifle innovation, not to mention bend the cost curve up, add taxes and entitlements and cut Medicare,” argues Dent.

Cap-and-trade is another job killer. According to the Pennsylvania Utility Commission, cap-and-trade will cost the state 66k jobs by 2020. Nationally, the legislation would increase gas prices by 58% and add $829 to the electric bill of a family of four per year according to the Heritage Foundation. Worse, net job losses could approach 1.9 million in 2012 and 2.5 million by 2035. Manufacturing could lose 1.4 million jobs in 2035.

For the jobless in places like Allentown, and all struggling corners of the country, these laws will have crushing effects.

“These major pieces of legislation that are being rushed through Congress are job killers. They’re impediments to recovery, and that’s what’s really scaring people,” said Dent.

Billy Joel sang about Allentown’s worry, that tune has now descended into desperation and panic. Sadly, though, despite the staged stops and summits to tout “successes,” the reality of this listening tour is that the one who’s supposed to be listening appears painfully tone deaf.
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Just two weeks after FoxNews.com’s exclusive report on the dangers of Suri Cruise wearing heels, her celebrity mother Katie Holmes is defending her daughter’s wardrobe.

After several photos of Suri in open toe shoes during cold weather surfaced, FoxNews.com spoke with New York-based podiatrist Dr. Oliver Zong.

Zong told Fox, “A common side effect of adults wearing heels too often is the tightening or shortening of the Achilles tendon,” Zong told FoxNews.com “At Suri’s age, children are growing quickly, and you want everything growing at the same rate. If the tendon is not growing at the same rate as everything else, it could become a problem.”

Click here to read FoxNews.com’s report on Suri’s heels.

But yesterday, Katie Holmes told Access Hollywood that the shoes are actually quite supportive.

“They are actually ballroom dancing shoes for kids,” she said. “I found them for her and she loves them.”

Katie also said that Suri’s love for heels is not unlike other children her age.

“She, like every little girl – she loves my high heels,” she said.
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