Category: Business

Area Home Sales Up In February

Area home sales up in February

Residential home sales in 14 Central Kentucky counties rose 19.5 percent in February compared to a year earlier, the Lexington-Bluegrass Association of Realtors said Friday.

Home sales have improved dramatically year-over-year beginning in the latter months of last year as buyers began to take advantage of the federal tax credit for new home buyers. The program has been expanded to include a credit for purchases by existing homeowners.

The group said there were 429 residential sales closed in February, up from 359 in February 2009. The median single-family residential sales price in February was $130,500, down 1.1 percent from $132,000 a year ago. The average days on the market for a residential home rose to 130 in February from 95 in February 2009.

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Health Overhaul Promises Pain, Gain For Businesses

Health Overhaul

When historians write the book on how President Barack Obama’s health care overhaul became law, they’ll need to leave space for some unlikely advocates: lobbyists for the drug, insurance and hospital industries.

Last summer, executives from those groups visited the White House and pledged to do their part to help pay for the health bill. By signing on to the effort early and agreeing to absorb some of the costs, they were able to help shape its final form.

Only time will tell how smart that trade-off was for the industries, but a quick look at the bill passed by the House late Sunday shows it was far from their worst-case scenario:

– A government-run health care plan that would compete against private insurers? Never made it out of the Senate.

– Price controls on Medicare’s prescription-drug program that would squeeze drug industry profits? Quietly dropped from consideration last fall.

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