February 2013 U.S. Economic Fundamentals
- Thread starter Ally
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Rising U.S. home prices bode well for recovery
The U.S. housing market is experiencing a strange and unfamiliar sensation: Across the country, home prices are rising.
The price gains point to an increasingly solid recovery in the housing sector, driven by rock-bottom interest rates, pent-up demand and a smaller supply of houses for sale.
An index of house prices in 20 major cities rose 5.5 per cent in the year to November, the largest such increase since 2006, according to closely watched figures released Tuesday by S&P Dow Jones Indices.
Read the full article here.
The U.S. housing market is experiencing a strange and unfamiliar sensation: Across the country, home prices are rising.
The price gains point to an increasingly solid recovery in the housing sector, driven by rock-bottom interest rates, pent-up demand and a smaller supply of houses for sale.
An index of house prices in 20 major cities rose 5.5 per cent in the year to November, the largest such increase since 2006, according to closely watched figures released Tuesday by S&P Dow Jones Indices.
Read the full article here.
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Housing emerges as economic bright spot after years in the dark
The nation`s housing market is surging again after years of historic declines, and the unique forces powering its return could last well into 2013.
The number of homes for sale is at its lowest level since before the recession, sparking competition among buyers that has led to 10 straight months of price increases. The volume of activity is the highest since 2007.
Read the full article here.
The nation`s housing market is surging again after years of historic declines, and the unique forces powering its return could last well into 2013.
The number of homes for sale is at its lowest level since before the recession, sparking competition among buyers that has led to 10 straight months of price increases. The volume of activity is the highest since 2007.
Read the full article here.
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How city growth is exceeding suburb growth
When the auto-manufacturer Ford released its Trend Book for 2013, the BuzzBuzzHome News team was particular captivated by the section titled `The Rise of the Intima-City.`
The authors of the report point to data that shows young homebuyers are eschewing the amenities of suburban life for the diversity, culture and opportunity that characterizes city life. In 2011, city growth surpassed or equaled that of suburbs in approximately 33 of America`s 51 large metropolitan areas. This is a notable change from the previous decade in which only five urban centres outpaced their suburbs in population growth.
Read the full article here.
When the auto-manufacturer Ford released its Trend Book for 2013, the BuzzBuzzHome News team was particular captivated by the section titled `The Rise of the Intima-City.`
The authors of the report point to data that shows young homebuyers are eschewing the amenities of suburban life for the diversity, culture and opportunity that characterizes city life. In 2011, city growth surpassed or equaled that of suburbs in approximately 33 of America`s 51 large metropolitan areas. This is a notable change from the previous decade in which only five urban centres outpaced their suburbs in population growth.
Read the full article here.
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Bernanke dissatisfied with growth
Federal Reserve Chairman Ben S. Bernanke signaled he isn`t close to easing up on $85 billion in monthly bond purchases to spur a stalled economy and bring down 7.8 percent unemployment.
Read the full article here.
Federal Reserve Chairman Ben S. Bernanke signaled he isn`t close to easing up on $85 billion in monthly bond purchases to spur a stalled economy and bring down 7.8 percent unemployment.
Read the full article here.
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169,000 Americans drop out of labour force in January as unemployment ticks up
The number of Americans not in the labor force grew by 169,000 in January, according to the Bureau of Labor Statistics` latest jobs report.
BLS labels people who are unemployed and no longer looking for work as `not in the labor force,` including people who have retired on schedule, taken early retirement, or simply given up looking for work. There were 89 million of them last month.
Read the full article here.
The number of Americans not in the labor force grew by 169,000 in January, according to the Bureau of Labor Statistics` latest jobs report.
BLS labels people who are unemployed and no longer looking for work as `not in the labor force,` including people who have retired on schedule, taken early retirement, or simply given up looking for work. There were 89 million of them last month.
Read the full article here.
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Graphs for duration of unemployment
This graph shows the duration of unemployment as a percent of the civilian labor force. The graph shows the number of unemployed in four categories: less than 5 week, 6 to 14 weeks, 15 to 26 weeks, and 27 weeks or more.
The general trend is down for all categories, but only the less than 5 weeks is back to normal levels.
Read the full article here.
This graph shows the duration of unemployment as a percent of the civilian labor force. The graph shows the number of unemployed in four categories: less than 5 week, 6 to 14 weeks, 15 to 26 weeks, and 27 weeks or more.
The general trend is down for all categories, but only the less than 5 weeks is back to normal levels.
Read the full article here.
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Detroit edges closer to bankruptcy
DETROIT ` At the Detroit Auto Show earlier this month, luxury was in the air. Pricey new Bentleys and Maseratis glittered ` including a Maserati 2014 Quattroporte with a $132,000 price tag; U.S. Cabinet Secretaries and dignitaries rubbed shoulders; and many of the well-heeled attendees ponied up for a $300-a-ticket black-tie charity ball.
But in a city that is slowly dying, the glitz didn`t extend much beyond the Cobo Center exhibition hall.
Read the full article here.
DETROIT ` At the Detroit Auto Show earlier this month, luxury was in the air. Pricey new Bentleys and Maseratis glittered ` including a Maserati 2014 Quattroporte with a $132,000 price tag; U.S. Cabinet Secretaries and dignitaries rubbed shoulders; and many of the well-heeled attendees ponied up for a $300-a-ticket black-tie charity ball.
But in a city that is slowly dying, the glitz didn`t extend much beyond the Cobo Center exhibition hall.
Read the full article here.
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Housing already showing signs of a new bubble?
When housing began to simmer back in 2002, prices were rising around seven percent a year, then eight percent in 2004 and a stunning 12 percent in 2005.
At the time, words like "bubble," and "unsustainable," were uttered with every monthly reading. No one had seen home prices soar like that since the mid 1970's.
Read the full article here.
When housing began to simmer back in 2002, prices were rising around seven percent a year, then eight percent in 2004 and a stunning 12 percent in 2005.
At the time, words like "bubble," and "unsustainable," were uttered with every monthly reading. No one had seen home prices soar like that since the mid 1970's.
Read the full article here.
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Signs the job market is improving in 2013
The number of U.S. workers filing first-time applications for unemployment benefits declined by 5,000 last week, keeping jobless claims near levels last seen consistently in early 2008, a signal of a modestly improving labor market. A separate report showed that nonfarm business productivity decreased at a 2% annual rate in the fourth quarter while unit labor costs jumped 4.5%. Economist John Canally of LPL Financial discusses the data with the Wall Street Journal Online`s Jim Chesko.
Read the full article here.
The number of U.S. workers filing first-time applications for unemployment benefits declined by 5,000 last week, keeping jobless claims near levels last seen consistently in early 2008, a signal of a modestly improving labor market. A separate report showed that nonfarm business productivity decreased at a 2% annual rate in the fourth quarter while unit labor costs jumped 4.5%. Economist John Canally of LPL Financial discusses the data with the Wall Street Journal Online`s Jim Chesko.
Read the full article here.
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Jobless claims point to healing labour market
WASHINGTON (Reuters) - The number of Americans filing new claims for jobless benefits fell last week and a trend reading hit a near five-year low, signs a grinding recovery in the labor market remains on track.
Other reports on Thursday showed many top U.S. retailers had strong sales in January even as customers were hit with higher taxes, while productivity at businesses slumped in the fourth quarter.
Read the full article here.
WASHINGTON (Reuters) - The number of Americans filing new claims for jobless benefits fell last week and a trend reading hit a near five-year low, signs a grinding recovery in the labor market remains on track.
Other reports on Thursday showed many top U.S. retailers had strong sales in January even as customers were hit with higher taxes, while productivity at businesses slumped in the fourth quarter.
Read the full article here.
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A tale of two countries: What the U.S. can learn from Canada
In the aftermath of the worst global financial crisis since the Great Depression, Canada is basking in a well-deserved time in the sun. Unlike the United States and other countries that bore the brunt of the economic collapse of 2008, which was directly linked to a boom and bust cycle in real estate, Canada avoided most if not all of the problems. The reasons can be summed up in two main factors: fiscal conservatism and strength in leadership.
In discussing Canada`s advantageous position pre- and post-crisis, real estate executives profiled in my latest book, Market Discipline: The Competitive Advantage, Lessons from Canada`s Real Estate Leaders, never took a `we told you so attitude` (which, in itself, is illustrative of the conservative Canadian character that tends to focus on the job to be done rather than bragging about it). Nonetheless, conversations with these executives revealed leadership lessons that might be viewed as truisms`except that consistency in execution and deep influence on corporate culture make them truly notable.
Read the full article here.
In the aftermath of the worst global financial crisis since the Great Depression, Canada is basking in a well-deserved time in the sun. Unlike the United States and other countries that bore the brunt of the economic collapse of 2008, which was directly linked to a boom and bust cycle in real estate, Canada avoided most if not all of the problems. The reasons can be summed up in two main factors: fiscal conservatism and strength in leadership.
In discussing Canada`s advantageous position pre- and post-crisis, real estate executives profiled in my latest book, Market Discipline: The Competitive Advantage, Lessons from Canada`s Real Estate Leaders, never took a `we told you so attitude` (which, in itself, is illustrative of the conservative Canadian character that tends to focus on the job to be done rather than bragging about it). Nonetheless, conversations with these executives revealed leadership lessons that might be viewed as truisms`except that consistency in execution and deep influence on corporate culture make them truly notable.
Read the full article here.
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House prices are shifting higher in the U.S.
In the U.S. new homes market in December 2012, the number-of-months of completed but unsold inventory was 4.9, indicating a decent demand-supply balance. The most up-to-date information is set out in a joint press release from the Census Bureau and the Department of Housing and Urban Development.
The number-of-months inventory is calculated as follows. At any given time, the total number of unsold homes (151,000 units in December) is divided by the current monthly sales rate (369,000 units SAAR/12 = 30,800 units). (SAAR stands for seasonally adjusted and annualized.)
Read the full article here.
In the U.S. new homes market in December 2012, the number-of-months of completed but unsold inventory was 4.9, indicating a decent demand-supply balance. The most up-to-date information is set out in a joint press release from the Census Bureau and the Department of Housing and Urban Development.
The number-of-months inventory is calculated as follows. At any given time, the total number of unsold homes (151,000 units in December) is divided by the current monthly sales rate (369,000 units SAAR/12 = 30,800 units). (SAAR stands for seasonally adjusted and annualized.)
Read the full article here.
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Boomerang buyers making a comeback
Andreea Stucker thought she made a good investment when she bought a Huntington Beach condo with her boyfriend in December 2005.
But then she and her boyfriend split up. He moved out just as the housing market crashed, leaving Stucker broken hearted and broke.
Read the full article here.
Andreea Stucker thought she made a good investment when she bought a Huntington Beach condo with her boyfriend in December 2005.
But then she and her boyfriend split up. He moved out just as the housing market crashed, leaving Stucker broken hearted and broke.
Read the full article here.
- Joined
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Boomerang buyers making a comeback
Andreea Stucker thought she made a good investment when she bought a Huntington Beach condo with her boyfriend in December 2005.
But then she and her boyfriend split up. He moved out just as the housing market crashed, leaving Stucker broken hearted and broke.
Read the full article here.
Andreea Stucker thought she made a good investment when she bought a Huntington Beach condo with her boyfriend in December 2005.
But then she and her boyfriend split up. He moved out just as the housing market crashed, leaving Stucker broken hearted and broke.
Read the full article here.
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U.S. home sales rise to 2nd highest pace in 3 years
U.S. sales of previously occupied homes rose in January to the second-highest level in three years, a sign that the housing market is sustaining its recovery and helping bolster the economy.
The National Association of Realtors said Thursday that sales rose 0.4 per cent in January compared with December to a seasonally adjusted annual rate of 4.92 million. That was the second-highest sales pace since November 2009, when a temporary home buyer tax credit had boosted sales.
Read the full article here.
U.S. sales of previously occupied homes rose in January to the second-highest level in three years, a sign that the housing market is sustaining its recovery and helping bolster the economy.
The National Association of Realtors said Thursday that sales rose 0.4 per cent in January compared with December to a seasonally adjusted annual rate of 4.92 million. That was the second-highest sales pace since November 2009, when a temporary home buyer tax credit had boosted sales.
Read the full article here.
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Neighbours to the north emerge as largest foreign investor in U.S. real estate
As a handful of major deals this month attest, Canada continues to be the most dominant foreign investor in U.S. assets, with a total investment more than triple that of its nearest competitor country, according to Jones Lang LaSalle.
"Canada emerged from the recession in better financial shape due to its banks issuing recourse loans and suffering fewer hits during the mortgage meltdown versus other countries. These deeper pockets allowed Canadians to invest in U.S. real estate when values were most suppressed," said Steve Collins, international director of Jones Lang LaSalle`s Capital Markets, who attended last week`s Association of Foreign Investors in Real Estate`s (AFIRE) annual Winter Conference in New York.
Read the full article here.
As a handful of major deals this month attest, Canada continues to be the most dominant foreign investor in U.S. assets, with a total investment more than triple that of its nearest competitor country, according to Jones Lang LaSalle.
"Canada emerged from the recession in better financial shape due to its banks issuing recourse loans and suffering fewer hits during the mortgage meltdown versus other countries. These deeper pockets allowed Canadians to invest in U.S. real estate when values were most suppressed," said Steve Collins, international director of Jones Lang LaSalle`s Capital Markets, who attended last week`s Association of Foreign Investors in Real Estate`s (AFIRE) annual Winter Conference in New York.
Read the full article here.