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“U.S. stocks fell on Monday as the Federal Government moved towards a shutdown because Republicans and Democrats on Capitol Hill could not agree on an emergency short-term budget. The midnight deadline passed with no deal and Government agencies started to shut down.”
“The government shutdown is here. Whether it’s not being able to get a new Social Security card or visit a national park, Americans will immediately feel the effects. But there’s one bright spot of the economy that stands to be affected as well: housing.”
“PHILADELPHIA (CBS) — With the real estate market on the upswing, many people buying homes have opted to obtain an FHA mortgage.”
“A prolonged government shutdown may create delays for homebuilders and their FHA-qualified clients if the Federal Housing Administration remains closed for longer than a few weeks, an analyst with Sterne Agee claimed Tuesday.”
“The chief executives of large banks including Goldman Sachs Group Inc. (GS) and JPMorgan Chase & Co. (JPM) will meet with President Barack Obama tomorrow as Wall Street urges Congress to end the budget stalemate in Washington.”
“Congress failed to pass a funding bill on Monday night. And so began a series of complex procedures to power down the federal government.”
“The Washington D.C. economy would suffer most in a federal shutdown, but other metros across the country could also be hit especially hard.”