In the dark: The recession is forcing cities and towns to shut off streetlights as a cost saving measure, reports USA Today. Santa Rosa, Calf., plans to remove 6,000 of its 15,000 streetlights and put an additional 3,000 on timers. The city says the measures will save $400,000 annually. Another factor causing cities to turn off streetlights are environmental concerns, such as wasteful energy consumption and light pollution. Read the story here.
Real estate comeback? Pending U.S. home sales rose more than expected in July to the highest level in more than two years as first-time buyers rushed to take advantage of a tax credit that expires this fall. The National Association of Realtors says its seasonally adjusted index of sales contracts signed in July for previously occupied homes rose 3.2% to 97.6. It was the sixth straight increase and 12% above the same month last year. Economists surveyed by Thomson Reuters expected the index would edge up to 96.5. Typically there is a one- to two-month lag between a contract and a done deal, so the index is a barometer of how sales completed this month and next will turn out.
