Falling Housing Prices, Vatican Airlines, Airport Restaurants: 8/28/07
In real estate news, the market continues to slide. According to the National Association of Realtors, sales of existing homes fell .2 percent in July, dropping to the slowest pace in five years. That's the fifth straight monthly decline and that dip is pressuring sellers to cut prices, the median home price has dropped .6 percent compared to a year ago. Falling for a record 12th consecutive month to $230,000. You can expect prices to fall even more in the coming months.Economists don't expect the housing market to recover until early next year, and that means an increase in foreclosure and fewer qualified buyers. The Realtors Association attributes the real estate slump to recent trouble in the mortgage market.From the ground, to the sky. Vatican Airlines takes off with a wing and a prayer. The low-cost Vatican backed charter airline made it's inaugural flight yesterday, to a religious shrine in Lourdes, France. Starting next year, the airline is scheduled to fly pilgrims on a budget from Italy to other popular religious sites around the world. A small airline owned by the Italian Post Office is operating the flights, which will carry passengers to Catholic shrines like the Holy Land and the Shrine of Fatima in Portugal. The airline will operate out of seven Italian airports and expects to transport 150,000 pilgrims a year.
Back in the U.S., before you take to the skies, you'll want some food, right? Well, Dining options for hungry travelers are getting an upgrade. A growing number of local restaurants are popping up at airports across the country. Right now, local restaurants make up 20 percent to 40 percent of all eateries at major airports, but you can expect that to grow to 50 percent within five years. At airports in the Washington area you can now chow down on food from Five Guys Famous Burgers and Fries and California Tortilla. BWI has added local flair with Mayorga Coffee and Mama Ilardo's. The move is part of a bigger trend: serving an appetizing mixture of healthier fare to travelers.
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