2009-JUN-19 : Americans Deleveraging: One in Three Has Reduced Debt
Gallup Poll trends show Americans continuing to cut back on debt. In a May 29 survey, 31% of Americans say they have decreased their total outstanding debt over the past six months -- essentially the same as the percentages who said this in April (32%) and March (34%). Only 23% of consumers increased their debt in May, also not much different from March and April. @ Gallup | Posted: 06/18/09 at 0655 EDST
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2009-JUN-11 : Some analysts forsee recession's end
A new economic outlook index predicts that the recession likely will end in September followed by a mild recovery.
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2009-JUN-8 : U.S. job losses slow in May, fueling recovery hopes
The Labor Department said on Friday that U.S. employers cut 345,000 jobs in May, the fewest since September and far less than economists had forecast. They cut 504,000 jobs in April. However, the unemployment rate raced to 9.4 percent, the highest since July 1983, from 8.9 percent in April, partly because people who had given up looking for work re-entered the labor market, a sign economic confidence was returning. @ Reuters | Posted: 06/08/09 at 0415 EDST
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2009-JUN-25 : Fed says recession is easing
Policymakers declined to raise a key interest rate Wednesday, pledging to keep it low for an extended period.
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2009-JUN-19 : Initial claims totalled 554,405 a decrease of 26,791 from the previous week
There were 349,255 initial claims in the comparable week in 2008. @ U.S. Department of Labor | Posted: 06/19/09 at 0330 EDST
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2009-JUN-10 : Leading Economic Index™ increased 1.2 percent in May
The leading economic index increased for the second consecutive month. The coincident economic index is still declining, but the declines are less intense. The recession is losing steam. Confidence is rebuilding and financial market volatility is abating. Even the housing market appears to be stabilizing. If these trends continue, expect a slow recovery beginning before the end of the year. However, employment will take longer to turn around. @ The Conference Board | Posted: 06/19/09 at 0419 EDST
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Mortgage Market AND Homeowners Insurance
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Details of FHA's $8K down payment advance:
HUD says FHA borrowers need at least 3.5% down, and consumers cannot tap into it until lenders flesh out details.
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Mortgage rates dip, but above record lows
Average rates on 30-year, fixed-rate mortgages dropped to 4.82% this week, staying below 5 percent for the tenth week in a row.
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Mortgage rates rise, remain below 5%:
Rates on 30-year mortgages rose this week to average 4.9%; most analysts predict more increases.
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Congress passes anti-foreclosure bill:
A bill approved yesterday would give banks a greater incentive to help at-risk homeowners.
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Mortgage rates above 5% for 1st time in 3 mos:
Average rates on 30-year fixed-rate mortgages rose to 5.29% this week, according to Freddie Mac's survey.
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Governor signs $8K homebuyer credit into law:
On July 1, first-time Florida buyers who quality for the federal $8,000 tax credit can use it toward a down payment.
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2009-JUN-26 : Mortgage rates tick up, above record lows
Freddie Mac says 30-year fixed mortgages averaged 5.42% this week; analysts fear higher rates threaten a housing recovery.
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2009-JUN-19 : Can buying cheap foreclosures make you rich?
Experts say "maybe." Investors must be able to fix them and rent them for a while before selling, however..
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2009-JUN-16 : May home starts jump 17.2% and permits jump 4%
Experts see it as an encouraging sign that the housing recession is bottoming out.
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2009-JUN-25 : Get ready for echo boomers
Harvard University's Joint Center for Housing Studies predicts children of baby boomers will save the housing market.
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2009-JUN-24 : Home sales stabilizing; weak recovery seen
New data shows nationwide home sales may have finally hit bottom, but a host of problems are hindering recovery.
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2009-JUN-22 : Housing market heading up in many areas
Declining foreclosures, increasing home sales and higher average sale prices indicate markets may have bottomed out.
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2009-JUN-17 : For construction, good news
The Commerce Department said Tuesday that construction of new homes and apartments jumped 17.2 percent last month to a seasonally adjusted annual rate of 532,000 units. That was better than the 500,000-unit pace that economists had expected and came after construction fell in April to a record low of 454,000 units. Construction rose 6.8 percent in the South. Applications for building permits, seen as a good indicator of future activity, rose 4 percent in May to an annual rate of 518,000 units. @ Sarasota Herald Tribune | Posted: 06/17/09 at 0201 EDST
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2009-JUN-11 : Regional foreclosures buck a state trend
Foreclosure rates dipped in May, adding to the hope that the worst of Southwest Florida's housing crash is over. Though foreclosure filings rose 50 percent from the same month last year statewide, Sarasota County filings were down by 7 percent from last year and 16 percent from April. In Manatee County, foreclosure filings were down by 2 percent from last year and 44 percent from April. @ Sarasota Herald Tribune | Posted: 06/11/09 at 0201 EDST
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2009-JUN-15 : Young people find now is time to buy homes
Today's economy and the $8,000 tax credit are helping young people who couldn't enter the housing market a few years ago.
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2009-JUN-11 : Foreclosures fall 6% in May
The number fell month to month, and while the rate rose compared to May 2008, it was the smallest jump in three years..
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2009-JUN-8 : Latest foreclosure program may be working
The new version of the federal Making Homes Affordable program has helped more than 120,000 in just three months.
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U.S. consumer confidence soars in May:
Consumer confidence extended its rebound today, soaring 14.1 points in one month - 10 points higher than economists expected.
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In the week ending May 16, the advance figure for seasonally adjusted initial claims was 631,000
The Initial Claims was a decrease of 12,000 from the previous week's revised figure of 643,000. The 4-week moving average was 628,500, a decrease of 3,500 from the previous week's revised average of 632,000. @ U.S. Department of Labor | Posted: 05/22/09 at 0400 EDST
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Dollar hits '09 low on rating fears; stocks dip
The dollar fell to a 2009 low on Friday as fears intensified that the United States could lose its triple-A rating. The dollar's latest decline started when ratings agency Standard & Poor's cut its ratings outlook on Britain to negative from stable, stoking fears other AAA-rated countries which are running huge debt levels could share a similar fate. Moody's Investor Service said on Thursday it was comfortable with its triple-A sovereign rating on the United States but that it was not guaranteed forever. @ Reuters | Posted: 05/22/09 at 0419 EDST
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Survey: Economists see recession end in '09
More than 90 percent of economists predict the recession will end this year, although the recovery is likely to be bumpy.
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Is recession's end here? Economist sticks with May 15 as bottom of the bust
Take it to the bank: As of this day, the economic downturn is officially over. At least according to James F. Smith. When he confidently predicted several months ago that the recession would end as of May 15, Smith was among the most optimistic economists around. He's still confident the big bust will bottom out right on schedule. @ Chicago Tribune | Posted: 05/18/09 at 0345 EDST
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U.S. budget chief says signs of economic free-fall over
The Obama administration's budget chief said on Sunday there are signs that the free-fall in the economy seems to have halted. @ Reuters | Posted: 05/18/09 at 0415 EDST
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Fed: Hopeful economic signs; '09 outlook lower:
The U.S. economy should begin growing again later this year, says the Fed, noting, "The housing sector might be nearing its bottom."
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2009-JUN-23 : Florida Home and Condo Sales UP in May
Looking up: existing single-family homes sales, condo sales and for the first time in months, the median sales price.
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2009-JUN-15 : International buyers believe in Fla.
According to Gerson Lehman Group, international buyers believe the Florida housing market is poised for recovery
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2009-JUN-16 : South Florida Market Looking Better
Threats still exist, however, says NAR Economist Lawrence Yun, who spoke at Miami's International Real Estate Congress
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2009-JUN-10 : More help wanted, ads say
Florida is one of a handful of states where online help-wanted ads are spelling out better times to come. According to data released Tuesday by the Conference Board, Florida's online job ad growth has not been a straight line and it is not phenomenal, just gradual.
@ Sarasota Herald Tribune | Posted: 06/10/09 at 0201 EDST
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Jobless rates dip in SW Florida
Unemployment rates in Southwest Florida dipped for the second consecutive month in April, but experts cautioned that the decline does not signal an end to the deep recession gripping the area. @ Sarasota Herald Tribune | Posted: 05/26/09 at 0201 EDST
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Study: Florida to continue growing
Population migration creates a demand for housing. A study done for FAR looks at Florida's present and future.
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Florida's economy is 'less worse'
Bad grammar or not, some economists think the state economy may not be headed up, but at least things are "less worse."
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