MuniLand

MuniLand Snaps: June 18

By Cate Long
June 18, 2012

BlackRock says that the housing market, the bedrock of property taxes that support local governments, remains weak:

The housing market overall continues to remain challenged by various factors. A large overhang of “shadow” inventory remains and the mix of home sales to date has been heavily skewed toward distressed purchases.

Good Links

Bloomberg: Payrolls climb in 27 U.S. states, led by California and Ohio

Reuters: Illinois governor signs bills to save Medicaid “from collapse”

McClatchy: SEC taps Thomas J. Butler, Wall Street veteran, to oversee ratings agencies

WSJ: SEC: Former Brokerage Executive to Oversee Credit-Rating Firms

Bond Buyer: Moody’s slashes $11.6 billion of California tax allocation bonds to junk

NJ.com: A graphic look at Trenton’s fiscal alchemy

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