MuniLand Snaps: June 18

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 A graphic look at Trenton’s fiscal alchemy

@Twitter Talk

No comments so far

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see