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Falling home prices on a national average have shrunk equity so much that the proportion of their homes that Americans actually own is near its lowest point since World War II. Average home equity plunged from more than 61 percent at the start of 2001 to 38 percent in the January-March quarter this year, the Federal Reserve said in a report Thursday. That drop comes as home prices in the biggest metro areas — but not in Oklahoma City , which has been a persistent exception to the national trend — have reached their lowest level since 2002. In Oklahoma City, housing has taken some hits. Home sales are in a slump and homebuilders are constructing homes at more than 50 percent off the peak in 2005. But the relatively strong local economy and stable employment, particularly in the energy sector, are largely credited with keeping housing from tanking.

Borders Group Inc. says it may have to close dozens of its best-performing stores due to a requirement of its bankruptcy financing if their landlords don't agree to extend a lease-negotiation period. Borders, which filed for bankruptcy court protection in February, has extension agreements for 365 stores. But it said in a court filing Thursday that it is still negotiating extensions for 51, many of which are among its top-selling stores. Borders' special bankruptcy financing requires it to start closing the stores where it has not obtained extensions by June 22. But Borders said it has asked its lenders to waive that requirement until a hearing about the sale of the company on July 21. The lenders are considering the request, Borders said. Borders is in discussion with several buyers.

Medical marijuana patients can be fired from their jobs in Washington state even if they only use the drug outside the workplace, the Washington Supreme Court ruled Thursday. Justices said in their 8-1 decision that state law does not provide any employment protections for medical marijuana users and does not require companies to accommodate those patients. The ruling stems from a 2007 lawsuit by a woman who was fired from TeleTech Customer Care Management in 2006 after her pre-employment drug screen came back positive. She had told the company she was an authorized medical marijuana patient, but the company's drug policy did not make an exception for medical marijuana. State law only makes one reference to the workplace, saying that employers are not required to accommodate the use of medical marijuana on site. The woman argued that the law's wording implicitly requires employers to accommodate use outside the workplace.

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