Business News: July home prices rise, but pace may slow

Business News

(CBS) - In Business News, home prices rose the most in seven years in July, but experts warn prices may have peaked for now.

The Standard and Poor's Case Shiller Index shows prices jumped 12.4 percent in July from a year earlier.

The largest gain was in Las Vegas where prices soared 27.5 percent.

Experts say more new homes are being built and mortgage rates are rising, which should slow the rise in home prices in the coming months.



(CBS) - A new career builder survey finds 36 percent of workers admit they live paycheck to paycheck.

That's down from 46 percent in 2008. More than a third have stopped eating out or drive less to help balance their household budget.

And 55 percent of those surveyed said they would not give up their Internet connection, no matter what their financial situation.



(CBS) - A piece of 1960s Americana is rolling into the history books.

The last Volkswagen van will drive off the assembly line at the end of this year after 63 years in production.

Experts say the van no longer meets safety requirements. 


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