Dec 31, 2008 12:54 pm US/Pacific
Rose Parade Stays Afloat Despite Recession
PASADENA, Calif. (AP) ―
The recession and housing crisis haven't stopped the National Association of Realtors from entering its first float in the Rose Parade in Pasadena.
It's one of 46 floats set to appear in the New Year's Day floral extravaganza that has marched on through the Great Depression and world wars for 120 years.
Despite a flood of foreclosures and a credit crunch that has made mortgages hard to come by, Realtors association spokesman Lucien Salvant said the time was right for the float because people still want to own a home.
Dubbed "Celebrating the Dream of Homeownership for 100 Years," the Realtors float showcases a Victorian style house covered in corn husks, coconut flakes, sesame seeds, roses and orchids. The organization planned the float more than a year ago to celebrate its first century.
The parade theme is "Hats Off to Entertainment." Its grand marshal is 82-year-old actress and former "Dancing with the Stars" contestant Cloris Leachman.
Tournament of Roses Chief Operating Officer Bill Flinn said the effect of the recession likely won't be seen in this year's edition of the parade because commitments to spend hundreds of thousands of dollars on floats have been in place for at least a year.
He adds, "We do feel one of our jobs is to bring optimism at a time when things are not so good for so many people."
(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)
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