NEW YORK - January 20, 2011 - The number of people who bought previously owned homes last year fell to the lowest level in 13 years, and economists say it will be years before the housing market fully recovers.

High unemployment and a record number of foreclosures are deterring potential buyers who fear home prices haven't reached the bottom. Job growth is expected to pick up this year, but not enough to raise home sales to healthier levels.

WASHINGTON - January 19, 2011 - Builders began work last year on the second fewest number of homes in more than half a century, as the weak economy kept people from buying houses.

Builders broke ground on a total of 587,600 homes in 2010, just barely better than the 554,000 started in 2009. Those are the two worst years on records dating back to 1959.

WASHINGTON - January 18, 2011 - Creditors and shareholders will now have to absorb some of the losses when the federal government steps in to dismantle large failing financial firms.

The Federal Deposit Insurance Corp. on Tuesday approved the new rule that was required under the financial regulatory law enacted last summer.

CAMDEN, New Jersey - January 18, 2011 - Some firefighters turned in their helmets and police officers their badges Tuesday as part of deep municipal layoffs destined to further erode the quality of life in Camden, already one of the nation’s most impoverished and crime-ridden cities.

About 335 workers, representing one-sixth of the local government work force, lost their jobs, according to Mayor Dana Redd. It was worst in the public safety departments, where nearly half the police force and close to one-third of the city’s firefighters were laid off.

WASHINGTON - January 15, 2011 - With the national debt reaching an all-time high of more than $14 trillion, a showdown is looming in Congress, which will have to lift the legal debt limit to give the nearly maxed-out government an even higher credit limit or dramatically cut spending to stay within the current cap.

DETROIT, Michigan - January 12. 2011 - Detroit Public Schools would close nearly half of its schools in the next two years, and increase high school class sizes to 62 by the following year, under a deficit-reduction plan filed with the state.

LONDON, England - January 13, 2011 - Corn surged to an almost 30-month high in morning trading, after the U.S. government cut forecasts for domestic inventories, tightening global food supplies, after adverse weather slashed harvests.