Posted on September 20, 2011 in
economy,
housing news,
mortgage news with
1 comment
Despite some controversy over how the Dodd-Frank provisions will impact recovery of the housing market, the provisions of the act are moving forward. The FDIC and Federal Reserve have approved provisions that require all lenders with $50 billion in assets or more to prepare detailed bankruptcy blueprints so that these bigger lenders can be liquidated [...]
Posted on September 16, 2011 in
california,
economy,
florida,
georgia,
minnesota,
missouri,
new jersey,
new york,
pennsylvania,
texas with
no comments
The Federal Reserve economic summary from the field offices mid-July through August 2011 shows only modest economic recovery, and in the area of housing, most markets are considered weak. The basis of the report is anecdotal evidence from sources outside each regional Federal Reserve branch. The only branches reporting moderate economic gains were St. Louis, [...]
Posted on September 14, 2011 in
Fannie Mae,
economy,
housing news with
no comments
Each month Fannie Mae takes the pulse of the economy in its Survey and it found in August growing pessimism on the part of the American public on a range of economic problems from the housing crisis to household finances, to the economy in general. A total of 78% of the Americans surveyed said that [...]
Posted on September 14, 2011 in
economy,
tax news with
no comments
Thursday President Obama revealed the outline of a jobs bill he plans to have introduced in Congress called the American Jobs Bill. There appears not to be a completed final document, but a factsheet is available at the White House site. Tax cuts represent the lion’s share of the bill at $240 billion. The payroll [...]
Posted on September 1, 2011 in
Uncategorized with
no comments
Moody’s Analytics has revised its near-term assessment of the U.S. economy in the past month as a result of the calamitous national debt debate and the lowering of the U.S. credit rating by Standard & Poor’s. Moody’s now estimates that the annualized real gross domestic product will grow by 2% in the second half of [...]
Posted on August 29, 2011 in
economy with
no comments
The Commerce Department’s estimate of the growth that occurred in the U.S. economy in the 2nd quarter of 2011 was revised downwards in its Aug. 26 2nd quarter report. The economy grew at an almost flat 1% during the 2nd quarter of 2011, adding to the downgraded GDP of .4% in the first quarter to make the actual growth for the first half of 2011 only 1.4%.
Posted on August 29, 2011 in
economy with
1 comment
Yale’s Jackson Institute senior fellow and nonexecutive chairman of Morgan Stanley Asia, Stephen Roach, has proposed that relieving over-leveraged Americans of their consumer debt is one “simple” way to quickly get through the current debt pain experienced in the economy. Debt forgiveness was last tried in the 1930s at the height of the Great Depression. [...]
Posted on July 28, 2011 in
economy with
no comments
The bureau given birth by Elizabeth Warren in the wake of the Dodd-Frank Act to set rules and coordinate regulations of the housing finance industry, the Federal Consumer Protection Bureau (FCPB) officially opened its doors for business last week. The President, however, did not appoint Warren as its new chair. The new nominee, Richard Cordray, [...]
Posted on July 28, 2011 in
economy with
no comments
Good news for people buying investment properties, but bad news for the economy as a whole: the week ending July 16 saw 418,000 new unemployment claims, up 10,000 claims from the previous week. Experts had expected 411,000 filings. The statewide shut-down of government services in Minnesota contributed to the unemployment numbers by about 1750 new [...]
Posted on June 20, 2011 in
economy with
no comments
The John Burns Real Estate Consulting company puts out a report card regularly on the state of real estate. The current report reveals that on the 63 year old “misery index” representing the sum of unemployment and inflation, the current measure of pain is at 12.7 compared to the misery index average of 9.5%. No [...]