The Fellowship at Two Rivers divested itself Sunday of a Donelson campus exponentially larger than the former megachurch needs, voting to sell its 220,000-square-foot building and 37.5-acre grounds to the Catholic Diocese of Nashville.

The diocese will pay $12.5 million and move operations from the Catholic Center at 2400 21st Ave. S., spokesman Rick Musacchio said. He said the relatively small center has forced the diocese to spread programs among locations across the city.

The vote, taken after a morning sermon stressing that every Christian ”” not just the biblical “superheroes” ”” has the power to enact change, was nearly unanimous. Only one obvious “no” hand went up.

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The bond markets have grasped something that continues to elude many economists. We live in a confused world. Yet the underlying story is simple. The US middle continues to hollow out, even as the economy continues to grow.

But the latter’s upside is limited by the crisis in the former. Unless the middle class starts to post healthy income gains, we will be stuck in what has been annoyingly named the “new normal”.

Neither the Democratic nor the Republican party ”“ nor most of their European counterparts ”“ appears to have an answer. President Barack Obama pushes for a higher minimum wage, which would certainly help the poorest sections of the US labour force. But it would do nothing to fix the central problem. And Republicans keep arguing for lower taxes on the wealth creators. Ditto. They have argued each other to a standstill.

Both parties might find it instructive to look north to Canada, which has endured its harshest winter in 20 years.

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A rebound in house prices and near-record-low interest rates are prompting homeowners to borrow against their properties, marking the return of a practice that was all the rage before the financial crisis.

Home-equity lines of credit, or Helocs, and home-equity loans jumped 8% in the first quarter from a year earlier, industry newsletter Inside Mortgage Finance said Thursday. The $13 billion extended was the most for the start of a year since 2009. Inside Mortgage Finance noted the bulk of the home-equity originations were Helocs.

While that is still far below the peak of $113 billion during the third quarter of 2006, this year’s gains are the latest evidence that the tight credit conditions that have defined mortgage lending in recent years are starting to loosen. Some lenders are even reviving old loan products that haven’t been seen in years in an attempt to gain market share.

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Although parishioners at St. Paul Evangelical Lutheran Church held their last service there in November, hymns might be heard again from the nearly 100-year-old church as soon as this fall. Riverview Presbyterian Church, now on Kanawha Boulevard, plans to buy the church building and move in.

“It had always been the hope of folks from St. Paul and Trinity [Evangelical Lutheran Church] that it would be purchased by a church or a community organization, so this is a real godsend,” said Trinity Lutheran’s Rev. Randy Richardson.

The Trinity and St. Paul congregations joined last year because of St. Paul’s dwindling membership. There were only about 40 voting members when the church closed.

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…the ministry will today face further revolt over its decision to let developers turn 7 acres of church land near Leighton Buzzard in Bedfordshire into an out-of-town retail park.

Campaigners, who will march on Westminster Abbey at lunchtime, say the £15m development, in conjunction with Claymore Group, will “go against Christian beliefs” by damaging trade for small businesses in the town centre.

But the church is keeping faith in the controversial project, despite the fact it has been put on hold due to an ongoing legal challenge by protester Victoria Harvey.

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India, a giant economic mediocrity, is cursed by having too many economists. Its outgoing prime minister, Manmohan Singh, has a doctorate from Oxford, ran the central bank in the 1980s and led the liberalisation programme that India put in place in 1991 after a currency crisis. Yet as prime minister Mr Singh had little grip or public support, serving at the pleasure of Sonia Gandhi, the populist leader of the Congress party. By the end of his ten-year term he admitted he had failed. In August, as the rupee tumbled, he addressed a gathering of India’s policymaking elite at his house in Delhi. The economy faced “very difficult circumstances”, he whispered.

Mr Singh’s successor could not be more different. Narendra Modi’s economic views have been formed while running the business-friendly state of Gujarat for the past 12 years. Asked some time ago about his economic influences, he described his homespun framework, jotting diagrams on a pad as he spoke. He has studied Singapore and China, but thinks that “India is a democracy and has different requirements”. Striking a balance between farming, small firms and global companies is required, with limited but muscular administration and populist appeal: “Men, machines and money must work together.”

Having run Gujarat well, Mr Modi now faces the far harder task of running India. He has big advantages””administrative competence, control over his party and a majority in Parliament””that should ease decision-making. Unlike Mr Singh, he has also campaigned and won on a platform of aspiration and economic reform. India needs “less government and more governance”, he declared on the campaign trail.

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The most important change in the world over the past 30 years has been the rise of China. The increase in its average annual GDP per head from around $300 to $6,750 over the period has not just brought previously unimagined prosperity to hundreds of millions of people, but has also remade the world economy and geopolitics.

India’s GDP per head was the same as China’s three decades ago. It is now less than a quarter of the size. Despite a couple of bouts of reform and spurts of growth, India’s economy has never achieved the momentum that has dragged much of East Asia out of poverty. The human cost, in terms of frustrated, underemployed, ill-educated, unhealthy, hungry people, has been immense.

Now, for the first time ever, India has a strong government whose priority is growth. Narendra Modi, who leads the Bharatiya Janata Party (BJP), has won a tremendous victory on the strength of promising to make India’s economy work. Although we did not endorse him, because we believe that he has not atoned sufficiently for the massacre of Muslims that took place in Gujarat while he was chief minister, we wish him every success: an Indian growth miracle would be a great thing not just for Indians, but also for the world.

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Nearly 10 million U.S. households remain stuck in homes worth less than their mortgage and a similar number have so little equity they can’t meet the expenses of selling a home, trends that help explain recent sluggishness in the housing recovery.

At the end of the first quarter, some 18.8% of U.S. homeowners with a mortgage””9.7 million households””were “underwater” on their mortgage, according to a report scheduled for release Tuesday by real-estate information site Zillow Inc. Z +3.48% While that is an improvement from 19.4% at the end of last year and a peak of 31.4% 2012, those figures understate the problem.

In addition to the homeowners who are underwater, roughly 10 million households have 20% or less equity in their homes, which makes it difficult for them to sell their homes without dipping into their savings.

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Years before Narendra Modi won this month’s election that now allows him to become India’s next leader, the former tea-stall worker asked this question on behalf of the world’s second most-populous nation:

“It is often said that India does not dream big and that is the root cause of all our problems. Why can’t we dream like China, Europe or America?”

Note how Mr. Modi compares India to other continental powers. This reveals just how much today’s 1.25 billion Indians, who are digitally hitched to the global flow of ideas, have adopted new views of their capacity for progress ”“ not only for India but for themselves.

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Ali Husain is a prosperous young Indian Muslim businessman. He recently bought a Mercedes and lives in a suburban-style gated community that itself sits inside a ghetto.

In Gujarat, it is so difficult for Muslims to buy property in areas dominated by Hindus even the community’s fast-growing urban middle class is confined to cramped and decrepit corners of cities.

Husain embodies the paradox of Gujarat: the state’s pro-business leadership has created opportunities for entrepreneurs of all creeds; yet religious prejudice and segregation are deeply, and even legally, engrained.

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The euro zone’s economy expanded at a weak pace last quarter despite a strong recovery in Germany, putting added pressure on the European Central Bank to enact fresh easing measures to prevent the region from sliding into a lengthy period of low inflation and economic stagnation.

Gross domestic product grew 0.2% in the euro zone during the first quarter compared with the final three months of 2013, the European Union’s statistics agency Eurostat said Thursday, well short of the 0.4% quarterly gain expected by economists.

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Narendra Modi, the man most likely to become India’s next prime minister, has a wicked turn of phrase. In one of his most memorable remarks, he subverted his strong association with Hindu asceticism by declaring his support for “toilets before temples”. The same phrase, spoken by a Congress party cabinet minister, had provoked outrage from the Bharatiya Janata party of which Mr Modi is head. The BJP said the remark threatened to “destroy the fine fabric of religion and faith”. But the party hierarchy, knowing that its fate depends on the so-called “Modi wave”, barely demurred when its candidate adopted the slogan as his own.

The BJP leader is quite right to declare that India should spend less money on devotion and more on sanitation. According to 2011 census data, nearly half of households have no access to a toilet, forcing inhabitants to defecate in the open. More Indians own a mobile phone than a lavatory of their own. Poor hygiene, not lack of food, is the main reason that 40 per cent of children are malnourished. Much of Mr Modi’s appeal, which has swept through India like a brush fire, lies in his promise to conjure the growth that will eradicate such dire conditions and set his supporters on the road to a middle-class life.

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Americans made more progress in repairing their postrecession finances and have increased their overall borrowing, yet they are also showing an aversion to credit cards and new mortgages that could hinder the economic recovery.

Household debt””including mortgages, credit cards, auto loans and student loans””rose $129 billion between January and March to $11.65 trillion, new figures from the Federal Reserve Bank of New York showed Tuesday. That was the third consecutive quarterly increase.

Behind the uptick: Mortgage balances””which make up the bulk of U.S. household debt””rose $116 billion to $8.2 trillion, thanks in part to fewer people going into foreclosure, which drags down mortgage debt. Auto-loan balances grew $12 billion to $875 billion. Student-loan balances increased $31 billion to $1.1 trillion, maintaining its place as the fastest-growing debt category.

Read it all and the picture of the incredible graph on student loan explosion is there.

You may never find a better example of the sprawling sameness of suburbia than Southern California. From San Diego to Santa Clarita and beyond, middle class hamlets of homogeny epitomize the master-planned neighborhoods that first sprang up in the 1950s.

These suburbs, like others across the globe, impose their will on the natural environments. Endless stretches of green lawns and golf courses defy the area’s arid climate, and perfectly uniform rows of houses transform any hillside or empty canyon into a ready-made community.

Living in LA during the housing boom of the late ’90s, photographer Robert Harding Pittman was troubled by the loss of nature to these environments. An expanding creep of paved valleys, leveled hillsides, and cloned homes with thirsty lawns were a cookie-cutter contagion. He decided to document its spread on a global scale.

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The freeway exits around here are dotted with people asking for money, holding cardboard signs to tell their stories. The details vary only slightly and almost invariably include: Laid off. Need food. Young children.

Mary Carmen Acosta often passes the silent beggars as she enters parking lots to sell homemade ice pops, known as paletas, in an effort to make enough money to get food for her family of four. On a good day she can make $100, about double what she spends on ingredients. On a really good day, she pockets $120, the extra money offering some assurance that she will be able to pay the $800 monthly rent for her family’s three-bedroom apartment. Sometimes, usually on mornings too cold to sell icy treats, she imagines what it would be like to stand on an exit ramp herself.

“Everyone here knows they might have to be like that,” said Ms. Acosta, 40, neatly dressed in slacks and a chiffon blouse, as she waited for help from a local charity in this city an hour’s drive east of Los Angeles. Both she and her husband, Sebastian Plancarte, lost their jobs nearly three years ago. “Each time I see them I thank God for what we do have. We used to have a different kind of life, where we had nice things and did nice things. Now we just worry.”

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Church of England officials are facing humiliation after controversial plans to stop a bishop living in the medieval palace occupied by his predecessors for centuries were overturned.

The Rt Rev Peter Hancock, who will be formally enthroned as the 79th Bishop of Bath and Wells next month, had been told he would not live in the 13th Century palace because it was not “conducive to ministry” and a more normal family home would be found.

The medieval complex doubles as diocesan headquarters and a tourist attraction and the Church Commissioners, the Church of England’s property and financial arm, argued that it lacked privacy for the bishop and his family.

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The Church Commissioners for England and the Diocese of Bath and Wells have today issued a joint statement following the publication of the decision of the committee of the Archbishops’ Council.

“We thank the Archbishops’ Council for their consideration of the objections made by the Diocese to the Church Commissioners decision to house the next Bishop of Bath and Wells outside of the Palace.

“We appreciate the thoroughness of the Council’s consideration and the swiftness with which the decision has been reached.

“This outcome enables all concerned to look to the future, to celebrate the arrival of the new Bishop and to welcome Bishop Peter and his wife Jane when they arrive in June.”

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The U.S. economy slowed in the first quarter to one of the weakest paces of the five-year recovery as the frigid winter appeared to have curtailed business investment and weakness overseas hurt exports.

Gross domestic product, the broadest measure of goods and services produced across the economy, advanced at a seasonally adjusted annual rate of 0.1% in the first quarter, the Commerce Department said Wednesday. Economists surveyed by The Wall Street Journal had forecast growth at a 1.1% pace for the quarter.

The broad slowdown to start the year halted what had been improving economic momentum during much of 2013. In the second half of last year, the economy expanded at a 3.4% pace. The first quarter reading fell far below even the lackluster average annual gain of near 2% since the recession ended.

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Holy Trinity Cathedral is a monument to New Westminster’s past.

But to restore it to its former glory may require a modern solution.

The Anglican/Episcopalian church sits regally perched above Downtown at the top of Church Street.

It’s tucked away, surrounded by the police station, a nightclub, the Columbia SkyTrain station and high rises.

And now the congregation is hoping the city will be open to the idea of a plan that would put a residential tower on the site, and help them fix their church.

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The Johnsons both work, earning $90,000 between them, not a princely sum but one that places the couple squarely in the middle of household incomes for the Washington region. But for the Johnsons and many other American families, being middle class means living paycheck to paycheck.

The couple’s retirement savings are meager. The college fund? Nonexistent.

The Johnsons, whose blended family includes three children under 18, are part of a drawn-out, disquieting shift that is recasting what it means to be middle class in America.

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Mortgage lending declined to the lowest level in 14 years in the first quarter as homeowners pulled back sharply from refinancing and house hunters showed little appetite for new loans, the latest sign of how rising interest rates have dented the housing recovery.

Lenders originated $235 billion in mortgage loans during the January-March quarter, down 58% from the same period a year ago and down 23% from the fourth quarter of 2013, according to industry newsletter Inside Mortgage Finance.

The decline shows how the mortgage market is experiencing its largest shift in more than a decade as an era of generally falling interest rates that began in 2000 appears to have run its course.

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The American middle class, long the most affluent in the world, has lost that distinction.

While the wealthiest Americans are outpacing many of their global peers, a New York Times analysis shows that across the lower- and middle-income tiers, citizens of other advanced countries have received considerably larger raises over the last three decades.

After-tax middle-class incomes in Canada ”” substantially behind in 2000 ”” now appear to be higher than in the United States. The poor in much of Europe earn more than poor Americans.

Read it all from the front page of today’s NY Times.

The recovery from the recession has been nasty, brutish and long. It also is shaping up as one of the most enduring.

The National Bureau of Economic Research, the semiofficial arbiter of business cycles, judges that the U.S. economy began expanding again in June 2009, just over 58 months ago. That means the current stretch of growth, in terms of duration, is poised to drift past the average for post-World War II recoveries.

Yet after almost five years, the recovery is proving to be one of the most lackluster in modern times. The nation’s 6.7% jobless rate is the highest on record at this stage of recent expansions. Gross domestic product has grown 1.8% a year on average since the recession, half the pace of the previous three expansions.

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Apartment vacancy rates have dropped so low that forecasters at Capital Economics, a research firm, said rents could rise, on average, as much as 4 percent this year, compared with 2.8 percent last year. But rents are rising faster than that in many cities even as overall inflation is running at little more than 1 percent annually.

One of the most expensive cities for renters is Miami, where rents, on average, consume 43 percent of the typical household income, up from a historical average of just over a quarter.

Stella Santamaria, a divorced 40-year-old math teacher, has been looking for an apartment in Miami for more than six months. “We’re kind of sick of talking about it,” she said of herself and fellow teachers in the same boat. “It’s like, are you still living with your mom? Yeah, are you? Yeah.” After 11 years as a teacher, Ms. Santamaria makes $41,000, considerably less than the city’s median income, which is $48,000, according to Zillow.

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A plan to build a skyscraper near Liverpool Street railway station, slated to be the tallest in the City of London, may be revived this year as rising occupancy rates in the financial district draws investors, according to Peter Rees, the City’s former planning officer.

Work on the Pinnacle, an office tower designed to have a height of about 288 meters (945 feet), was halted in 2012 after the economic crisis roiled financial markets.

“There is a will to go forward, there is a demand for the space and there’s no difficulty at all in finding funding to build the project,” Rees said in a March 21 interview ahead of his retirement last week.

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Bye-bye, “Bishop Bling.” So long, “Pastor Perks.” The so-called “Francis effect” may be real, at least when it comes to clerical housing, and could be coming to a church near you.

Pope Francis famously eschewed the trappings of the papal office, including deluxe digs in the Vatican’s Apostolic Palace, and the pressure of his example seems to be making itself felt.

Last week, the pontiff accepted the resignation of the most ostentatious offender, Franz-Peter Tebartz-van Elst of Limburg in Germany, aka “Bishop Bling” who spent a cool $43 million on a swank new residence and office complex while cutting staff.

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A true story: This chimney, planted like a limbless live oak on a residential street, was built by imprisoned German soldiers during the final year of World War II.

City officials and preservationists want to protect the chimney as a piece of a forgotten America. But the property’s owners, members of a prominent Charleston family, see it as more than just an obstacle to their development plans.

They are Jewish, and they want it gone.

“Every time I see the structure, it makes me think about the ovens,” says Mary Ann Pearlstine Aberman, 79, who co-owns the land. “I don’t see any reason to make a shrine to Nazis.”

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A shell of a church in Liverpool struck by a bomb in World War Two could be sold, according to the city’s mayor.

Talks about the future of St Luke’s Church, which was destroyed by a bomb in 1941, were ongoing Joe Anderson said.

He added it would only be sold if the buyer protected it as a tribute to those who died in World War Two.

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