The shutdown in Washington D.C. drags on for the
eighth day with no end in sight as both the Democrats and the Republican parties are far from coming to a deal. There are now about 500,000 federal workers on furlough, but once back to work, they should be receiving any lost wages retroactively.
Over on the foreclosure front, research firm CoreLogic reported that foreclosure inventories in August fell by 33% to 939,000 compared to August of 2012 of 1,400,000. In addition, completed foreclosures came in at 48,000 in August, down 34% from the 72,000 recorded in August of 2012.
Don't look now but filling up the gas station has gotten much cheaper in the past month. The national average price for a regular gallon of gasoline is $3.34, down nearly 14 cents in the last two weeks. The end of the summer driving season and a drop in oil prices in September let refiners cut their prices. However, unless there is another drop in oil prices, we may have seen the bottom for prices at the pump. However, the price for a regular gallon of gasoline has been above $3 for over 1,000 days, a record.
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