Recession over? GDP grows 3.5% - Business First of Columbus:

The U.S. economy grew more than expected in the third quarter, according to the government's initial report on gross domestic product.

The Commerce Department said the nation's gross domestic product grew at an annual rate of 3.5 percent last quarter, the first positive quarterly growth in a year, and the largest quarterly advance since the third quarter of 2007. GDP contracted by 0.7 percent in the second quarter...

Homebuyer Tax Credit Measure Backed by Administration (Update2) - Bloomberg.com

Oct. 29 (Bloomberg) -- The Obama administration endorsed plans to extend an $8,000 tax credit for first-time homebuyers, saying it is helping stabilize the nation’s housing market.

The tax break, enacted earlier this year as part of the $787 billion economic stimulus package, has “brought new families into the housing market and contributed to three consecutive months of rising home prices,” Treasury Secretary Timothy Geithner said today in a statement. The tax break will expire Nov. 30 unless Congress intervenes.

Senate Democrats have announced plans to extend the credit until April 30, while expanding it to include higher-income Americans and some who already own homes...

Home prices rise in most major cities in August - Yahoo! News

NEW YORK – Home prices rose for the third straight month in August, data Tuesday showed, a key sign for a broad and sustained housing recovery...