When Paul Williams began his career, he could find no black architects to be his role models or mentors. Born in downtown Los Angeles in 1894, Williams became orphaned before he turned 4 when his parents, Chester and Lila, died of tuberculosis. A family friend raised him and told him he was so bright, he could do anything he wanted. And what he wanted was to design homes for families ”” perhaps because he lost his own so early in his life. Despite warnings from those who thought he was being impractical (“Your own people can’t afford you, and white clients won’t hire you,” was one such warning), Williams became an architect.

His work has come to signify glamorous Southern California to the rest of the country ”” and to the world. One of his hallmarks ”” a luxuriantly curving staircase ”” has captivated many a potential owner. Retired financial services magnate Peter Mullin remembers how he felt when he saw his 1925 Colonial, the first one Williams built in L.A.’s posh Brentwood neighborhood.

“The first time I saw it, I didn’t think I could afford the house, but if I could afford the staircase, I wanted to take it with me!” Mullin laughs. He bought the house ”” once inhabited by producer Ingwald Preminger, brother of director Otto ”” and has enjoyed it for 35 years.

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The Federal Reserve announced Wednesday a modest increase in its efforts to reduce borrowing costs for businesses and consumers by extending its existing “Operation Twist” asset-purchase program through the end of the year.

The decision reflects growing concern that the economy once again is stumbling into the summer months after the false promise of a relatively strong winter. The Fed now expects the unemployment rate to fall no lower than 8 percent this year, and inflation to rise no higher than 1.7 percent, both signs of an ailing economy.

Fed officials also have indicated a desire to insure against a pair of looming risks, that events in Europe will freeze global financial markets and that the political stalemate in Washington over fiscal policy will undermine the domestic recovery.

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The Philadelphia Episcopal Cathedral received approval Friday to demolish two historic buildings in the 3700 block of Chestnut Street, clearing the way for construction of a 25-story apartment tower.

At a lengthy hearing of the city Historical Commission, the cathedral and its private development partner agreed to conditions imposed by the commission that seek to insure that a portion of development profits flow into repair and renovation of the historic cathedral’s bell tower.

“We are committed to preserving the church itself,” the Rev. Judith Sullivan, cathedral dean, told the commission. “We are all about preservation.”

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A growing number of cities across the United States are making it harder for the homeless.

Philadelphia recently banned outdoor feeding of people in city parks. Denver has begun enforcing a ban on eating and sleeping on property without permission. And this month, lawmakers in Ashland, Ore., will consider strengthening the town’s ban on camping and making noise in public.

And the list goes on: Atlanta, Los Angeles, Miami, Oklahoma City, Phoenix, San Diego and more than 50 other cities have previously adopted some kind of anti-camping or anti-food-sharing laws, according to the National Law Center on Homelessness & Poverty.

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When Father Christopher H. Smith was a child, he’d peek through the eucalyptus trees in his grandparents’ yard on Sunday mornings at the drive-in theater next door to watch a man give a sermon on the top of a tar-papered snack bar, the same place where he’d grab his popcorn on movie evenings. The man atop the snack bar was the Rev. Robert H. Schuller, preaching from humble beginnings at the Orange Drive-In Theater.”We thought that was very cool,” Smith said.

Now, decades later, Smith has found himself linked to Schuller once again. On Saturday, he was officially named to the top post of Episcopal vicar at the Roman Catholic Diocese of Orange’s new central church in Orange County – the Crystal Cathedral.

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Spain’s banking crisis did not come out of the blue.

In the 1990s, the Spanish suffered a bout of collective madness. Interest rates fell from 14 per cent (with the peseta) to 4 per cent (with the euro) in a matter of weeks.

In 1998, the centre-right government passed a law that increased the amount of land for development. Developers got rich, selling the idea that property would always go up in value. You could buy a flat on the Mediterranean for $156,000 and sell it the next day for $234,000; by the end of the month it would be worth $390,000…..

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Europe is to offer Spain a bailout package of up to €100 billion ($125 billion) to help rescue the country’s banks and keep the 17-country eurozone from breaking apart.

After months of fierce denials, Spain admitted it would tap the fund as it moved faster than expected to stem the economic crisis that has ravaged Europe for two years.

Spain becomes the fourth – and largest – European economy to ask for help and its admission of help comes after months of market concern about its ability to pay its way. In recent weeks investors have demanded higher and higher costs to lend to Spain, and it became clear it would be just too expensive for the country to borrow the money necessary for a bank rescue from the markets.

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In theory, fewer homeowners will mean municipalities will rake in less revenue from property taxes. But Pendall believes local governments will simply adjust to make rental properties “a larger share of the tax pie.”

And within those communities, some businesses will feel the pinch. Dan Ariely, a professor of psychology and behavioral economics at Duke University, says a wave of renters would have an obvious impact on the massive consumer industry that supports homeownership.

“My subjective experience is that when people buy a house, they immediately start renovating and fixing it ”” going on Sunday afternoon to Home Depot, doing things that I think people would never do for houses that they rent,” he says.

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“I voted for [Walker] in 2010 because I realized we have to do something about the deficit. I voted for him in the recall because I don’t believe recall elections are meant for what they’re doing with it,” said Katy Tomlanovich, who teaches at Northeast Wisconsin Technical College. She said recall elections should be reserved for politicians who commit gross malfeasance, not for those who make unpopular decisions.

Tomlanovich said she plans to vote for Obama in November but cast a ballot for the Republican on Tuesday. “Scott Walker is actually doing something about [spending], and I think he should be allowed to serve the rest of his term.”

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Everyone seems to have an opinion on what the vote in Wisconsin means for national politics.

But beyond the issue of whether Scott Walker’s survival puts Wisconsin in play in November, his victory represents an example of the way politicians in our most pressed states are sorting themselves as they confront this long fiscal downturn. Increasingly they fall into two camps: those willing to undertake tough reforms in the face of severe fiscal restraints that don’t appear likely to improve anytime soon, and those who continue to put off the difficult decisions even as their states’ balance sheets deteriorate and investors grow wary of their budget instability.

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Watch it all–if it doesn’t bring tears to your eyes, something is wrong.

…the diversity of the Washington economy is an illusion, for each of its business sectors is to some degree a creature of the region’s single great industry–the federal government. According to a 2007 report by the Tax Foundation, for every dollar in taxes Washington sends to the federal government, it receives five in return. Fuller says that over the past 30 years, the federal government has spent $860 billion in the D.C. region, two-thirds of that since 9/11.

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The recession ended and the recovery began in June, 2009. It’s an ugly third birthday for the labor market

More than 7 million U.S. jobs disappeared during the recession. Fewer than 3 million have been added in the recovery. And the rate of job growth has been falling lately; in May, the economy added just 69,000 jobs. That’s not even enough to keep up with population growth.

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For many Americans, [Dick Meyer, author of the 2008 book Why We Hate Us: American Discontent in the New Millennium]…says, the challenge of near total life freedom …has been that shedding old ties and traditions turns out to be easier than finding meaningful new ones; forming a modern ‘lifestyle’ often ends being narcissistic and consumerist.”

This choice overload, Meyer says, “has proven to be spiritually hollow. We’ve found nothing to replace community, hard morality, religion and vocational pride to guide us through life. We’re existentially in the dark.”

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The American Dream is a crucial thread in this country’s tapestry, woven through politics, music and culture.

Though the phrase has different meanings to different people, it suggests an underlying belief that hard work pays off and that the next generation will have a better life than the previous generation.

But three years after the worst recession in almost a century, the American Dream now feels in jeopardy to many….

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If you’re in the market for a property filled with colorful stained glass windows, decorative mahogany wood, plenty of reading materials and an entertainment center, Steven Metcalfe has got just the thing.

St. Michael’s Episcopal Church, which closed for services in August 2009, is up for sale.

“We would love for somebody to come in and operate a church here. We’re open to whoever can see the possibilities,” the Rev. Metcalfe said Tuesday at the South Main Street site.

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In 2011, regional president Francisco Camps announced that the [Valencia’s The City of Arts and Sciences] complex had brought in some 40 million tourists since it opened, and the complex has indeed become the most readily identifiable sign of the city. But visibility alone does not mean success, especially in times of economic crisis. The Valencia project came in four times over its original budget, and its final unit was not completed until 2005.

And it’s hardly alone. The Oscar Niemeyer International Cultural Center, a massive exhibition and performance space designed by the Brasilian architect for the northern Spanish port city of Avilés, ceased programming less than a year after it was inaugurated in March 2011. After decades of planning, Santiago de Compostela in northwestern Spain finally inaugurated its City of Culture, a Peter Eisenman campus, containing a museum, a library and a performance space, in January 2011. Yet the eventual $500 million spent wasn’t even enough to finish the complex: the city ran out of money before completing two of the six planned buildings. “The crisis hit, and they didn’t have any choice,” says Anxo Lugilde, Galicia correspondent for La Vanguardia newspaper. “They had to stop construction.”

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Defense contractors have slowed hiring. Tax advisers are warning firms not to count on favorite breaks. And hospitals are scouring their books for ways to cut costs.

Across the U.S. economy, anxiety is rising about the potential for widespread disruptions after the November election, when a lame-duck Congress will have barely two months to resolve a grinding standoff over taxes and spending.

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One out of five families owes more on credit cards, medical bills, student loans and other unsecured debt than they have in savings, according to a new University of Michigan report. And the number of families surveyed at the end of 2011 that have no savings at all increased to 23.4%, compared with 18.5% in 2009.

“The people who were down and out, without much money, in the recession have ended up staying there or even worse,” says Frank Stafford, professor of economics at University of Michigan Institute for Social Research and co-author of the report.

And the mortgage crisis is not over.

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In the American mind, renting has long symbolized striving””striving, that is, well short of achieving. But as we climb our way out of the Great Recession, it seems something has changed. Americans are getting over the idea of owning the American dream; increasingly, they’re OK with renting it. Homeownership is on the decline, and home rentership is on the rise. But the trend isn’t limited to the housing market. Across the board””for goods ranging from cars to books to clothes””Americans are increasingly acclimating to the idea of giving up the stability of being an owner for the flexibility of being a renter. This may sound like a decline in living standards. But the new realities of our increasingly mobile economy make it more likely that this transition from an Ownership Society to what might be called a Rentership Society, far from being a drag, will unleash a wave of economic efficiency

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The economy lost steam in the first quarter, as onetime engines of growth sputtered and robust consumer spending was unable to propel the recovery on its own.

Gross domestic product, the broadest measure of all goods and services produced in the economy, grew at an annualized rate of 2.2% in the first quarter, down from 3% at the end of 2011, the Commerce Department said Friday. The deceleration reflected sharp cutbacks in government spending and weaker business investment and came despite an unusually warm winter, which many economists said likely provided a mild economic boost.

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More than 1 million Americans who have taken out mortgages in the past two years now owe more on their loans than their homes are worth, and Federal Housing Administration loans that require only a tiny down payment are partly to blame.

That figure, provided to Reuters by tracking firm CoreLogic, represents about one out of 10 home loans made during that period.

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The UK is back in recession after a surprise 0.2% contraction in the economy in the first quarter of the year, official figures revealed today.

The decline in gross domestic product (GDP) was driven by the biggest fall in construction output for three years, while the manufacturing sector failed to return to growth, the Office for National Statistics (ONS) said.

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If Spain’s crisis deepens Europe’s recession, it could tip the entire world economy into a stubborn slump. The ramifications would be enormous, including: reduced odds of Barack Obama’s reelection, assuming a weaker U.S. recovery; less political cohesion and more social unrest in Europe (even now, the European Union’s unemployment rate is 10.2 percent); and growing pressures in many countries for economic nationalism and protectionism.

Spain is suffering a hangover from what economist Desmond Lachman of the American Enterprise Institute calls “the mother of all housing booms.”

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Some of the same spoilers that interrupted the recovery in 2010 and 2011 have emerged again, raising fears that the winter’s economic strength might dissipate in the spring.

In recent weeks, European bond yields have started climbing. In the United States and elsewhere, high oil prices have sapped spending power. American employers remain skittish about hiring new workers, and new claims for unemployment insurance have risen. And stocks have declined.

There is a “light recovery blowing in a spring wind” with “dark clouds on the horizon,” Christine Lagarde, managing director of the International Monetary Fund, said Thursday….

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Truro Anglican Church and the Episcopal Diocese of Virginia announced today a settlement that concludes five years of litigation that arose after Truro Anglican and other parishes left the Episcopal Church in 2006 to become part of what is now the Anglican Church in North America.

The settlement follows a January ruling in which the Circuit Court of Fairfax County held that all real and personal property held by the parishes at the time they left the denomination belongs to the Diocese.

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…talk about landmark status for the perpetually unfinished Episcopal church is starting to percolate again, as developers ready plans for a new apartment building on leased cathedral property along 113th Street in Morningside Heights.

Real-estate firm Equity Residential hopes to start construction on the 15-story apartment building next year. The new structure’s footprint would be some 70 feet north of the cathedral itself, replacing large metal sheds and parking spaces in the area now.

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…if anyone is eager for encouraging signs, it’s worth pointing out that the very broadest measure of unemployment actually improved this month. This is the U-6 metric, which tallies up all unemployed persons, plus people marginally attached to the labor force, plus people employed part-time for economic reasons. Jim Pethokoukis likes to call this “perhaps the truest measure of the labor market’s health.” And U-6 dropped from 14.9 percent in February to 14.5 percent in March. Anyone trying to dig around for optimistic signs should start there.

Still, it’s a weak report all around. And we’ll know in a few months if March was actually as tepid as everyone thinks. In theory, the real significance of this report should be whether it convinces Ben Bernanke and the Federal Reserve that a little more monetary stimulus is needed. But how likely is that? The unemployment rate is roughly in line with what the Federal Open Market Committee has been expecting. And if the Fed’s content with the current state of affairs, then more help may not be on the way after all.

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St. Margaret’s Anglican Church, one of seven Anglican congregations that are parties to the church property case brought by The Episcopal Church and the Episcopal Diocese of Virginia, celebrates taking a stand for the Gospel truth amidst settling its property involved in the case.

The settlement calls for St. Margaret’s Anglican to turn over to the Diocese its real property, including the parcel the parish bought, improved and maintained for fifty years. St. Margaret’s Anglican will vacate the property by April 30, and will turn over to the Diocese a portion of the liquid assets on hand when the lawsuit commenced in early 2007. St. Margaret’s will retain a portion of those liquid assets and a valuable hand bell collection that was a gift to St. Margaret’s from a parishioner.
St. Margaret’s was one of many Virginia Episcopal congregations who voted overwhelmingly to disassociate from The Episcopal Church and the Diocese in order to remain faithful to the historic doctrine of the worldwide Anglican Communion.

“This settlement is good news to us,” stated Alan Clark, Senior Warden of St. Margaret’s Anglican. “We are ready to move on in our mission of proclaiming Jesus Christ. Together, putting the legal dispute behind us, we celebrate who we are as Anglicans and followers of Christ. We trust in the path God has laid for St. Margaret’s Anglican, and look forward to where He plans to use our congregation to spread His transforming love.”

The Rt. Rev. David Bena, Interim Rector of St. Margaret’s Anglican, added, “Throughout these past several years of costly court battles, I have been humbled to bear witness to St. Margaret’s faith-filled stand for the Gospel truth at whatever expense.”

“We appreciate the good faith of Diocesan officials in negotiating the settlement, and we’re thrilled to be part of growing entities such as the regional Anglican Diocese of the Mid-Atlantic (a member diocese of the Anglican Church in North America) and the Convocation of Anglicans in North America. The death and resurrection of our Lord this Holy Week remind us that God is ultimately in charge. Our parishioners are ready to fully focus our energies on preaching, teaching, healing and making disciples in Jesus’ name. We may have lost the buildings, but we’ve kept the faith!” concluded Bishop Bena.

…a painful part two of the slump looks set to unfold: Many more U.S. homeowners face the prospect of losing their homes this year as banks pick up the pace of foreclosures.

“We are right back where we were two years ago. I would put money on 2012 being a bigger year for foreclosures than 2010,” said Mark Seifert, executive director of Empowering & Strengthening Ohio’s People (ESOP), a counseling group with 10 offices in Ohio.

“Last year was an anomaly, and not in a good way,” he said.

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