May 2013 U.S. Economic Fundamentals
- Thread starter Ally
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U.S. tight oil boom takes the shine off the oilsands
CALGARY ` Alberta`s landlocked bitumen reserves stand to lose their allure as China`s state-backed oil giants pour money into the light oil renaissance underway in pockets of the United States.
The boom in so-called tight oil attracted US$41-billion in capital investment last year and could reach US$72-billion by 2020, according to the American Petroleum Institute. The total rivals the $23-billion spent in the oil sands last year and may help coax hundreds of thousands of additional barrels of light oil from North Dakota`s Bakken field, the Eagle Ford play in Texas and California`s Monterey shale.
Read the full article here.
CALGARY ` Alberta`s landlocked bitumen reserves stand to lose their allure as China`s state-backed oil giants pour money into the light oil renaissance underway in pockets of the United States.
The boom in so-called tight oil attracted US$41-billion in capital investment last year and could reach US$72-billion by 2020, according to the American Petroleum Institute. The total rivals the $23-billion spent in the oil sands last year and may help coax hundreds of thousands of additional barrels of light oil from North Dakota`s Bakken field, the Eagle Ford play in Texas and California`s Monterey shale.
Read the full article here.
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U.S. job market picks up steam
The S&P 500 and Dow industrials hit intraday record highs after U.S. employment rose more-than-expected in April, easing concerns about weak economic growth. The S&P 500 index broke above 1,600 and the Dow traded above 15,000 for the first time as stocks extended this year`s rally. U.S. employers added 165,000 jobs in April, and hiring was much stronger in the previous two months than the government first estimated. The job increases helped reduce the unemployment rate from 7.6% to a four-year low of 7.5%. Investors welcomed the gains after weeks of disappointing data, including weak manufacturing reports, that suggested the economic recovery was losing steam. `This is the type of data that people then begin to look through some of the noise that is in the ISM data, or the PMI data,` said Darrell Cronk, regional chief investment officer for Wells Fargo Private Bank in New York. `When the labor markets are firming up, they feel better about that.`
Read the full article here.
The S&P 500 and Dow industrials hit intraday record highs after U.S. employment rose more-than-expected in April, easing concerns about weak economic growth. The S&P 500 index broke above 1,600 and the Dow traded above 15,000 for the first time as stocks extended this year`s rally. U.S. employers added 165,000 jobs in April, and hiring was much stronger in the previous two months than the government first estimated. The job increases helped reduce the unemployment rate from 7.6% to a four-year low of 7.5%. Investors welcomed the gains after weeks of disappointing data, including weak manufacturing reports, that suggested the economic recovery was losing steam. `This is the type of data that people then begin to look through some of the noise that is in the ISM data, or the PMI data,` said Darrell Cronk, regional chief investment officer for Wells Fargo Private Bank in New York. `When the labor markets are firming up, they feel better about that.`
Read the full article here.
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U.S. new home starts in March breached 1 million units
How long has it been? The answer: 57 months or nearly five years.
June 2008 was the last time U.S. monthly housing starts, seasonally adjusted and at an annual rate (SAAR), were higher than one million units.
March 2013 new home starts in the U.S. were 1.036 million units SAAR, according to a joint press release from the Census Bureau and the Department of Housing and Urban Development.
Read the full article here.
How long has it been? The answer: 57 months or nearly five years.
June 2008 was the last time U.S. monthly housing starts, seasonally adjusted and at an annual rate (SAAR), were higher than one million units.
March 2013 new home starts in the U.S. were 1.036 million units SAAR, according to a joint press release from the Census Bureau and the Department of Housing and Urban Development.
Read the full article here.
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U.S. foreclosure crisis a distant memory as defaults decline to 2007 levels
Six years after the start of the foreclosure crisis, American homeowners are paying their mortgages like the housing crash never happened.
First-time delinquent home loans fell to 0.84% of the 50.2 million mortgages in March, the first month below 1% since 2007, before a wave of defaults led to the financial crisis, according to a report today by Lender Processing Services Inc. The rate of first-time defaults, defined as loans that went from performing to at least 60 days delinquent, peaked at 2.89% in January 2009.
Read the full article here.
Six years after the start of the foreclosure crisis, American homeowners are paying their mortgages like the housing crash never happened.
First-time delinquent home loans fell to 0.84% of the 50.2 million mortgages in March, the first month below 1% since 2007, before a wave of defaults led to the financial crisis, according to a report today by Lender Processing Services Inc. The rate of first-time defaults, defined as loans that went from performing to at least 60 days delinquent, peaked at 2.89% in January 2009.
Read the full article here.
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Cross-border home shopping
When she talks about her numerous Canadian clients, Palm Springs realtor Sheri Dettman of Sheri Dettman & Associates in La Quinta says: "People tell us they just want to be warm. Year-round golf, tennis, swimming and our unique indoor-outdoor living is high on most Canadians' lists."
Indeed, no matter how much Vancouverites like to brag about living in a "lotus land" paradise that is the envy of all Canadians east of Hope, the fact is that southwestern B.C. can't really compare to the "sunbelt states" of Arizona, Nevada and California when it comes to pleasant winter weather.
Read the full article here.
When she talks about her numerous Canadian clients, Palm Springs realtor Sheri Dettman of Sheri Dettman & Associates in La Quinta says: "People tell us they just want to be warm. Year-round golf, tennis, swimming and our unique indoor-outdoor living is high on most Canadians' lists."
Indeed, no matter how much Vancouverites like to brag about living in a "lotus land" paradise that is the envy of all Canadians east of Hope, the fact is that southwestern B.C. can't really compare to the "sunbelt states" of Arizona, Nevada and California when it comes to pleasant winter weather.
Read the full article here.
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An overview of prices and sales in the diverging U.S. and Canadian housing markets
There is a wealth of information available about residential real estate markets in the U.S. and Canada. With home starts in the two countries now taking divergent paths ` trending upwards to the south and downwards to the north ` this is a good time to review some the latest data.
U.S. new single-family home sales in March, at 417,000 units seasonally adjusted and annualized (SAAR), were +1.5% on a month-to-month basis and +18.5% year-over-year, according to a joint press release from the Census Bureau and the Department of Housing and Urban Development.
Read the full article here.
There is a wealth of information available about residential real estate markets in the U.S. and Canada. With home starts in the two countries now taking divergent paths ` trending upwards to the south and downwards to the north ` this is a good time to review some the latest data.
U.S. new single-family home sales in March, at 417,000 units seasonally adjusted and annualized (SAAR), were +1.5% on a month-to-month basis and +18.5% year-over-year, according to a joint press release from the Census Bureau and the Department of Housing and Urban Development.
Read the full article here.
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Do high home ownership rates really kill the labour market?
A new study of U.S. data has found a link between higher home ownership rates and a rise over time in unemployment. But that doesn`t mean home owners are more likely to be unemployed.
The report, entitled `Does High Home-Ownership Impair the Labor Market,` was co-authored by David Blanchflower of Dartmouth College in New Hampshire and Andrew Oswald of the University of Warwick.
Read the full article here.
A new study of U.S. data has found a link between higher home ownership rates and a rise over time in unemployment. But that doesn`t mean home owners are more likely to be unemployed.
The report, entitled `Does High Home-Ownership Impair the Labor Market,` was co-authored by David Blanchflower of Dartmouth College in New Hampshire and Andrew Oswald of the University of Warwick.
Read the full article here.
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Washington popular choice for second homes
Vancouverites have long had a love affair with Whatcom County, and to such Sunday-drive destinations as Sumas, Blaine and Point Roberts.
In the 1980s, Bellis Fair Mall changed the retail landscape considerably, followed by Target, Costco and other merchants. The competitive march for the tourist dollar continued with an expansion of service into Bellingham Airport, where the parking lot is pretty much always filled with Canadian plates.
Read the full article here.
Vancouverites have long had a love affair with Whatcom County, and to such Sunday-drive destinations as Sumas, Blaine and Point Roberts.
In the 1980s, Bellis Fair Mall changed the retail landscape considerably, followed by Target, Costco and other merchants. The competitive march for the tourist dollar continued with an expansion of service into Bellingham Airport, where the parking lot is pretty much always filled with Canadian plates.
Read the full article here.
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U.S. in housing recovery, Vancouver showing weakness
A continued rebound in multiple U.S. housing markets as predicted, while Canadian housing markets are likely to endure a `potential lengthy period of price weakness,` according to a May 14 report by capital management firm Pacifica Partners Inc.
The report refers to Vancouver as Canada`s `bubbliest` city, largely because average single-family home sale prices are down 14% from their highs and average condominium prices are close to 2007 levels.
Read the full article here.
A continued rebound in multiple U.S. housing markets as predicted, while Canadian housing markets are likely to endure a `potential lengthy period of price weakness,` according to a May 14 report by capital management firm Pacifica Partners Inc.
The report refers to Vancouver as Canada`s `bubbliest` city, largely because average single-family home sale prices are down 14% from their highs and average condominium prices are close to 2007 levels.
Read the full article here.
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Wow, Americans are a lot more miserable about the economy than Canadians
Canada's unemployment rate is only a smidge better than America's, and its GDP is growing slightly slower. So how come our northerly neighbors seem so much pleased with their economy?
A big new study from Pew Research Center on international attitudes toward the economy includes this head-to-head chart comparing Canadian and U.S. sentiment -- and man, does it make us look despondent. Fifty-five percent of Canadians are satisfied with their country, and 67 percent believe their economy is in good shape. Less than a third of Americans feel the same. Canadians also seem to be happier about their personal finances and less worried about rising prices, unemployment, public debt, or having enough money to pay for basic necessities.
Read the full article here.
Canada's unemployment rate is only a smidge better than America's, and its GDP is growing slightly slower. So how come our northerly neighbors seem so much pleased with their economy?
A big new study from Pew Research Center on international attitudes toward the economy includes this head-to-head chart comparing Canadian and U.S. sentiment -- and man, does it make us look despondent. Fifty-five percent of Canadians are satisfied with their country, and 67 percent believe their economy is in good shape. Less than a third of Americans feel the same. Canadians also seem to be happier about their personal finances and less worried about rising prices, unemployment, public debt, or having enough money to pay for basic necessities.
Read the full article here.
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U.S. house prices in the biggest rise for nearly 7 years
US house prices in March were up 10.9% from a year earlier, the biggest rise in nearly seven years, according to a closely-watched survey.
The S&P/Case-Shiller index also said all 20 US cities measured posted annual gains for the third straight month.
Read the full article here.
US house prices in March were up 10.9% from a year earlier, the biggest rise in nearly seven years, according to a closely-watched survey.
The S&P/Case-Shiller index also said all 20 US cities measured posted annual gains for the third straight month.
Read the full article here.
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10 reasons why people are moving to Texas
Half of the 10 fastest-growing cities in the US are in Texas, according to new figures. Why?
Every way you look at it, there are a lot of people moving to Texas.
Five of the 10 fastest-growing cities in the country between 2011 and 2012 were in Texas, according to new figures from the US Census Bureau. New York is way out in front in terms of added population, but Houston is second with San Antonio and Austin fourth and fifth.
Read the full article here.
Half of the 10 fastest-growing cities in the US are in Texas, according to new figures. Why?
Every way you look at it, there are a lot of people moving to Texas.
Five of the 10 fastest-growing cities in the country between 2011 and 2012 were in Texas, according to new figures from the US Census Bureau. New York is way out in front in terms of added population, but Houston is second with San Antonio and Austin fourth and fifth.
Read the full article here.