Palm Springs, Calif., has been a redoubt for snowbirds and show business royalty at least since the 1930s.
Housing stays down despite increased consumer spending
A 0.5 percent increase in consumer spending in August reported by the U.S. Commerce Department did not extend to the housing market, which actually saw the number of signed contracts decrease for the month.
September 30, 2014
The growth in overall consumer spending exceeded predicted forecasts after flattening out in July, as reported by the New York Times. At the same time, though, stock indexes saw a sharp decline, with housing shares falling even further.
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