September 2012 U.S. Economic Fundamentals
- Thread starter Ally
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12 U.S. cities where homeowners are deep underwater
Analysts have been out saying housing has turned the corner.
Adding to signs of a recovery is a report from Zillow that shows that the number of homeowners in negative equity ` in which a borrower owes more on their mortgages than their home worth ` is declining. Being in negative equity is also known as being underwater.
Read the full article here.
Analysts have been out saying housing has turned the corner.
Adding to signs of a recovery is a report from Zillow that shows that the number of homeowners in negative equity ` in which a borrower owes more on their mortgages than their home worth ` is declining. Being in negative equity is also known as being underwater.
Read the full article here.
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Believe it: 14 examples of why the housing market may have bottomed
"We will come back big time on employment when residential construction comes back," Warren Buffett said last year. "You will be surprised, in my view, how fast employment changes when that happens."
Great to know. Because we're just about there.
Here are 14 examples showing how housing is already at -- or is very close to -- the bottom and ready to rebound.
Read the full article here.
"We will come back big time on employment when residential construction comes back," Warren Buffett said last year. "You will be surprised, in my view, how fast employment changes when that happens."
Great to know. Because we're just about there.
Here are 14 examples showing how housing is already at -- or is very close to -- the bottom and ready to rebound.
Read the full article here.
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Bernanke says joblessness 'grave,' signals new stimulus likely in the wings
Ben Bernanke is poised to lead the U.S. Federal Reserve in a new attack on America`s unemployment rate.
Mr. Bernanke, the central bank`s chairman, said Friday he considered the jobless situation in the United States to be `grave,` in a speech that signalled the Fed is preparing to launch new stimulus measures to boost growth.
Read the full article here.
Ben Bernanke is poised to lead the U.S. Federal Reserve in a new attack on America`s unemployment rate.
Mr. Bernanke, the central bank`s chairman, said Friday he considered the jobless situation in the United States to be `grave,` in a speech that signalled the Fed is preparing to launch new stimulus measures to boost growth.
Read the full article here.
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For richest retirees, it's shuffleboard in Seattle
America`s wealthiest retirees are shunning the sun. Hunts Point, a Seattle suburb with more than 150 days of rain a year and about 400 residents, including Microsoft chief executive Steve Ballmer, had an average household retirement income of $200,431 in 2010. That puts it at the top of Bloomberg`s list of towns with the richest retired residents. `Most of the homes are on the water or near the water,` says Stan Humphries, chief economist at Zillow. `It`s right across the bridge from Seattle, it`s near Microsoft, and of course it`s a very pretty place.`
Read the full article here.
America`s wealthiest retirees are shunning the sun. Hunts Point, a Seattle suburb with more than 150 days of rain a year and about 400 residents, including Microsoft chief executive Steve Ballmer, had an average household retirement income of $200,431 in 2010. That puts it at the top of Bloomberg`s list of towns with the richest retired residents. `Most of the homes are on the water or near the water,` says Stan Humphries, chief economist at Zillow. `It`s right across the bridge from Seattle, it`s near Microsoft, and of course it`s a very pretty place.`
Read the full article here.
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Auto sales a bright spot in struggling U.S. economy
Rising gas prices once sent shudders through Detroit. Now they're fuelling pent-up demand that is helping the comeback in auto sales outpace the stop-and-start recovery of the U.S. economy.
Each of the Detroit Three auto makers reported double-digit sales gains in the U.S. market for August, helping propel overall vehicle sales to an annual rate of about 14.5 million vehicles, compared with 12.4 million a year earlier.
While that number is well short of the 16 million to 17 million they sold on average for much of the 2000s, auto sales are one of the few bright spots in what has been a dismal U.S. recovery from the recession of 2008-2009. One key question is how long the gradual recovery in auto sales can be maintained while much of the rest of the U.S. economy staggers.
Read the full article here.
Rising gas prices once sent shudders through Detroit. Now they're fuelling pent-up demand that is helping the comeback in auto sales outpace the stop-and-start recovery of the U.S. economy.
Each of the Detroit Three auto makers reported double-digit sales gains in the U.S. market for August, helping propel overall vehicle sales to an annual rate of about 14.5 million vehicles, compared with 12.4 million a year earlier.
While that number is well short of the 16 million to 17 million they sold on average for much of the 2000s, auto sales are one of the few bright spots in what has been a dismal U.S. recovery from the recession of 2008-2009. One key question is how long the gradual recovery in auto sales can be maintained while much of the rest of the U.S. economy staggers.
Read the full article here.
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U.S. fed set to prime pump with more stimulus
It`s agreed: The U.S. Federal Reserve is set to introduce new stimulus measures at the end of a two-day meeting of its policy committee on Thursday.
That was the message from Wall Street at the end of last week after the labour department said the U.S. economy created a disappointing 96,000 jobs in August, barely half of what`s needed to make a serious dent in the unemployment rate.
Read the full article here.
It`s agreed: The U.S. Federal Reserve is set to introduce new stimulus measures at the end of a two-day meeting of its policy committee on Thursday.
That was the message from Wall Street at the end of last week after the labour department said the U.S. economy created a disappointing 96,000 jobs in August, barely half of what`s needed to make a serious dent in the unemployment rate.
Read the full article here.
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Canadians buying real estate in Arizona
SCOTTSDALE - When Matt Horton's cellphone rings these days, it's often from someone north of the border looking to buy one the luxury homes he lists with Realty One Group.
As if on cue, Horton receives a text message, then holds up his phone and chuckles. Another Canadian.
"What happens is word of mouth starts spreading up there," he said. "Everybody and their mother has a place down here."
A strong Canadian dollar and Arizona's depressed housing market have created an opportunity for Canadians looking to capitalize not just on the exchange rate but a strong economy back home.
Read the full article here.
SCOTTSDALE - When Matt Horton's cellphone rings these days, it's often from someone north of the border looking to buy one the luxury homes he lists with Realty One Group.
As if on cue, Horton receives a text message, then holds up his phone and chuckles. Another Canadian.
"What happens is word of mouth starts spreading up there," he said. "Everybody and their mother has a place down here."
A strong Canadian dollar and Arizona's depressed housing market have created an opportunity for Canadians looking to capitalize not just on the exchange rate but a strong economy back home.
Read the full article here.
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U.S. wholesale inflation rises, labour market struggles
U.S. producer prices rose by the most in three years in August as the cost of energy surged, but underlying inflation pressures were contained, keeping the door open to additional monetary policy easing.
Other data on Thursday underscored the weakness in the labour market, a major concern for the Federal Reserve, with the number of Americans filing new claims for jobless benefits rising to a two-month high, although some of the gain was attributed to tropical storm Isaac.
Read the full article here.
U.S. producer prices rose by the most in three years in August as the cost of energy surged, but underlying inflation pressures were contained, keeping the door open to additional monetary policy easing.
Other data on Thursday underscored the weakness in the labour market, a major concern for the Federal Reserve, with the number of Americans filing new claims for jobless benefits rising to a two-month high, although some of the gain was attributed to tropical storm Isaac.
Read the full article here.
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U.S. housing market best in almost 40 years for Canadians
Attention bargain hunters, says BMO chief economist Sherry Cooper. There hasn't been a better time for Canadians to buy property in America's sunshine states in nearly 40 years.
Thanks to the combination of a huge gap between average Canadian and U.S. home prices and a strong loonie, real estate south of the border is looking like a good investment, Dr. Cooper said in "The Bottom Line" Thursday.
Read the full article here.
Attention bargain hunters, says BMO chief economist Sherry Cooper. There hasn't been a better time for Canadians to buy property in America's sunshine states in nearly 40 years.
Thanks to the combination of a huge gap between average Canadian and U.S. home prices and a strong loonie, real estate south of the border is looking like a good investment, Dr. Cooper said in "The Bottom Line" Thursday.
Read the full article here.
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U.S. fiscal cliff: Economic shock could instigate real fix
Leaping off the so-called fiscal cliff is a bad option for the United States. But it might not be the worst. If U.S. politicians can`t wrangle a deal first, January will bring tax increases and spending cuts. The economic shock could bring another recession. But it could also improve the political chances of a real fix
Read the full article here.
Leaping off the so-called fiscal cliff is a bad option for the United States. But it might not be the worst. If U.S. politicians can`t wrangle a deal first, January will bring tax increases and spending cuts. The economic shock could bring another recession. But it could also improve the political chances of a real fix
Read the full article here.
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U.S. estate taxe changes are looming
For Canadians who are fortunate enough to have worldwide assets exceeding $1 million U.S., there may be a U.S. estate tax time bomb that ticks louder as we approach Dec. 31. Urgency is building as a current law that provides for a U.S. estate tax exemption of approximately $5 million is due to expire and is expected to be reduced to $1 million. This has led those who might be affected to find potential tax-saving solutions.
According to Jonathan Levy, a Montreal chartered professional accountant with the firm UHY Victor (and an expert in cross-border planning issues), `Canadians can be subject to U.S. federal estate taxes if they own U.S. situs assets upon death.` U.S. situs assets are those assets that have a U.S. location or connection, and which may include: U.S. real property net of non-recourse debt (including real estate investment properties, country places and condominiums); U.S. personal property (including boats, vehicles); stocks of U.S. corporations (including those held in RRSPs and RRIFs); and debts of U.S. companies and persons. Levy points out that excluded assets include: U.S. government bonds; U.S. bank accounts; U.S. (or Canadian) life insurance policies (but included in the world wide asset values ` which is an important fact to take into consideration when reviewing one`s overall potential estate tax exposure); and Canadian mutual funds which hold U.S. investments.
Read the full article here.
For Canadians who are fortunate enough to have worldwide assets exceeding $1 million U.S., there may be a U.S. estate tax time bomb that ticks louder as we approach Dec. 31. Urgency is building as a current law that provides for a U.S. estate tax exemption of approximately $5 million is due to expire and is expected to be reduced to $1 million. This has led those who might be affected to find potential tax-saving solutions.
According to Jonathan Levy, a Montreal chartered professional accountant with the firm UHY Victor (and an expert in cross-border planning issues), `Canadians can be subject to U.S. federal estate taxes if they own U.S. situs assets upon death.` U.S. situs assets are those assets that have a U.S. location or connection, and which may include: U.S. real property net of non-recourse debt (including real estate investment properties, country places and condominiums); U.S. personal property (including boats, vehicles); stocks of U.S. corporations (including those held in RRSPs and RRIFs); and debts of U.S. companies and persons. Levy points out that excluded assets include: U.S. government bonds; U.S. bank accounts; U.S. (or Canadian) life insurance policies (but included in the world wide asset values ` which is an important fact to take into consideration when reviewing one`s overall potential estate tax exposure); and Canadian mutual funds which hold U.S. investments.
Read the full article here.