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Rochester, N.Y. — A local organization is showcasing the upcoming investments in the heart of Rochester. The Rochester Downtown Development Corporation hosted its "Downtown Rising" luncheon Tuesday at The Penthouse at One East Avenue, which highlighted efforts to support new businesses and homes in the city's center. Over 10,000 individuals call downtown Rochester home, with more coming soon as over 1,000 units are currently being built or converted to residential.The summit gathered community members together to explore visions of how to shape downtown Rochester to become a more vibrant and...

New home sales trend bends downgetty After a lengthy rise, homebuilder stocks have dropped around 30%. Time to buy? Probably not. Fundamentals began weakening last year as homebuilders continued to build their significantly large inventories even as sales tapered off. (See Oct. 4 article, "Homebuilder Optimism May Be Ending As Conditions Weaken") The homebuilder cycles New home buying tends to run in lengthy cycles. The current trend is now downwards as the number of buyers shrinks. Likely, the cause is more than a high mortgage rate. New home prices are...