May 2012 U.S. Economic Fundamentals

[Ally]

U.S. federal reserves say more easing may be needed if recovery falters




Several Federal Reserve policy makers said a loss of momentum in growth or increased risks to their economic outlook could warrant additional action to keep the recovery on track, minutes of their last meeting showed.




`Several members indicated that additional monetary policy accommodation could be necessary if the economic recovery lost momentum or the downside risks to the forecast became great enough,` according to minutes of the Federal Open Market Committee`s April 24-25 meeting released today in Washington.





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[Ally]

Fewer U.S. homes foreclosed upon in April




LOS ANGELES (AP) -- National foreclosure trends took a positive turn in April, as the number of homes seized by banks declined and fewer properties entered into the foreclosure process.




But state-level data point to potentially more home repossessions ahead in Florida and many of the 25 other states where courts are required to sign off on foreclosures.





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[Ally]

U.S. new home sales, prices rise in April




New U.S. single-family home sales rose more than expected in April and prices pushed higher, further evidence the housing market was turning the corner.




The Commerce Department said on Wednesday sales increased 3.3 per cent to a seasonally adjusted 343,000-unit annual rate after a 332,000-unit pace in March.





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[Ally]

Homeownership: Back to the mean




The homeownership rate is back to 65 percent or so. That`s near the level that held steady for decades after World War II, until the subprime boom expanded the pool of homeowners.





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[Ally]

U.S. housing market continues on path to recovery





WASHINGTON - The U.S. spring home-selling season got off to a strong start in April with rising sales and prices providing evidence that a housing market recovery was gaining some traction.




The housing sector has been the Achilles' heel of the economy ever since the home-price bubble burst.






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[Ally]

U.S. housing recovery spells hope for economy





U.S. home prices are headed up, suggesting that a sector that has seen nothing but bad news for five years is finally beginning to contribute to the nation`s recovery.



The property market south of the border has been caught in a vicious circle, with falling prices causing foreclosures, which in turn cause prices to fall even further, prompting more distressed sales.





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[Ally]

In hard-hit cities like Phoenix, the home market rises




The Phoenix real estate market is suddenly experiencing something it hasn`t seen in years: Bidding wars.




Phoenix used to represent just about the worst of the U.S. housing market, with suburbs full of empty homes and foreclosures running so high that investors gathered like vultures at the county courthouse to snap up distressed properties.





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[Ally]

Slow, but sure signs of life in the U.S. housing market



Could the U.S. housing market finally be finding a bottom?




More and more, while still tentative, the answer looks to be `yes.` Real estate makes up less of the world`s No. 1 economy than it did before the subprime mortgage market collapsed, causing the worst financial crisis and global downturn since the Depression. Nonetheless, a recovery in housing is enormously important, because as long as home prices are falling or stubbornly low, there`s a limit to consumers` confidence about their financial well-being, and consequently to the demand that companies need to see before they increase hiring, which leads to more consumer demand, which spurs more hiring, et cetera. You get the point.





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[Ally]

U.S. job growth seen picking up in May






WASHINGTON (Reuters) - U.S. employment growth likely regained some momentum in May as weather-related distortions that had held back hiring began to fade, suggesting the economy's moderate recovery is still on track.




Employers are expected to have added 150,000 new workers to their payrolls, according to a Reuters survey of economists, after creating a meager 115,000 new positions in April, the fewest in six months.




That would bring non-farm employment growth closer to its 176,000 a month average of the past three months and offer assurance the U.S. economy remains on a steady growth path even though China is slowing and some European economies are back in recession.





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