DS News Webcast: Monday 5/19/2014

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: DSNews 2014-05-19 DSNews Demand Propels Home Prices Upward 2 days ago DS News Webcast: Monday 5/19/2014 The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days ago May 19, 2014 548 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Previous: Multifamily Construction Fuels Housing Starts Next: Tornado Ravaged Area Seeing Reduced Foreclosures Is Rise in Forbearance Volume Cause for Concern? 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Featured / DS News Webcast: Monday 5/19/2014 Demand Propels Home Prices Upward 2 days ago in Featured, Media, Webcasts Subscribelast_img read more

DS News Webcast: Wednesday 9/10/2014

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save Home / Featured / DS News Webcast: Wednesday 9/10/2014 in Featured, Media, Webcasts Previous: Investors Skeptical of Fed Rate Increase Forecast Next: Morgan Stanley Settles MBS Suit for $95 Million Related Articles Home asking prices are on the rise nationwide, according to the August 2014 Trulia Price Monitor released on Tuesday, but they are rising at a faster rate in judicial states where the foreclosure process takes longer. This is a reversal from the recent trend in which home asking prices have risen more quickly in non-judicial states because the “foreclosure wave” in certain areas came and went faster in those states as a result of not having to pass through courts. Tighter inventory at the end of a foreclosure wave typically results in an increase in asking prices, according to Trulia.For August, asking prices for homes in judicial states increased by 6.9 percent year-over-year, which is close behind the 7.8 jump in non-judicial states. By comparison, there was a much wider gap between the two in August 2013 when asking prices in judicial states rose by just 5.1 percent compared to 14.1 percent in non-judicial states. Only four metros out of the top 100 experienced a year-over-year decrease in home asking prices from August 2013 to August 2014: Albany, New York; El Paso, Texas; New Haven, Connecticut; and Little Rock, Arkansas.Foreclosure prevention counselors have saved homeowners millions of dollars annually, according to a recent study by the Urban Institute for NeighborWorks America. The September 2014 Urban Institute Report on the National Foreclosure Mitigation Counseling Program concluded that homeowners in default or in danger of defaulting who consult NFMC counselors are almost three times more likely to prevent foreclosure by way of mortgage modification. The average annual payment reduction for an NFMC-counseled homeowner who obtained a mortgage modification was $4,980. Subscribe September 9, 2014 540 Views About Author: Jordan Funderburk The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days agocenter_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Is Rise in Forbearance Volume Cause for Concern? 2 days ago  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago 2014-09-09 Jordan Funderburk The Best Markets For Residential Property Investors 2 days ago DS News Webcast: Wednesday 9/10/2014 Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily last_img read more

Cash Sales Share Falls to Lowest Level Since September 2008

first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribe Cash Sales Share Falls to Lowest Level Since September 2008 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save About Author: Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. center_img Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago July 16, 2015 1,382 Views Previous: CFPB Launches New Monthly Report Series Analyzing Trends in Consumer Complaints Next: Latest Fannie Mae NPL Sale Includes Smaller ‘Community Impact’ Pool Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago The cash sales share of total home sales in April 2015 was 33.7 percent, a drop of 3.7 percentage points from the previous April (37.4 percent), making April 2015 the 28th consecutive month in which the cash sales share experienced a decline, according to CoreLogic’s April 2015 Cash Sales Data released Thursday.The 33.7 percent share is the lowest for cash sales since September 2008, at the beginning of the housing crisis.The cash sales share has declined year-over-year every month since January 2013. The share declined by 0.9 percentage points month-over-month in April, although year-over-year comparisons provide a more accurate picture for cash sales share due to seasonality in the housing market, according to CoreLogic.”The cash share of home sales continues to decrease due to declines in investor activity as well as declines in distressed sales,” CoreLogic senior economist Molly Boesel said. “The consistent monthly reduction in the number of purchasers using cash to pay for a home is indicative that the housing market continues to move to normal.”At their peak in January 2011, cash sales accounted for 46.5 percent of total home sales nationally. The cash sales share averaged about 25 percent prior to the housing crisis in 2008. Should the cash sales share continue its current rate of decline, it should be back to its pre-crisis level of 25 percent by the middle of 2017, according to CoreLogic.Sales of REO properties had the largest cash sales share in April 2015 with 56.6 percent, and it was the only sales category in which cash sales share experienced a year-over-year increase. The sales category with the next highest cash sales share was resales with 33.3 percent, followed by short sales (30.4 percent) and new home sales (15.3 percent), according to CoreLogic.CoreLogic reported that while the share of REO sales that were all-cash transactions remained high, REO sales comprised only 7.4 percent of all home sales in April – down from the peak of 23.9 percent reached in January 2011. The majority of home sales in April 2015 were resales (about 81 percent), meaning resales have the greatest impact on the total share of cash sales.The states with the largest cash sales share in April 2015 were Florida (51.4 percent), Alabama (48.5 percent), West Virginia (48.3 percent), New York (45.4 percent), and Kentucky (41.4 percent). Of the nation’s 100 largest core-based statistical areas, those with the highest cash sales share were West Palm Beach-Boca Raton-Delray Beach, Florida (59.1 percent), North Port-Sarasota-Bradenton, Florida (58.5 percent), Cape Coral-Fort Myers, Florida (58.1 percent), Detroit, Michigan (58.0 percent), and Fort Lauderdale-Pompano Beach-Deerfield Beach, Florida (56.9 percent). The CSBA with the lowest cash sales share was Syracuse, New York (11.0 percent), according to CoreLogic.  Print This Post Home / Daily Dose / Cash Sales Share Falls to Lowest Level Since September 2008 Tagged with: Cash Sales CoreLogic REO sales Resales Short Sales Cash Sales CoreLogic REO sales Resales Short Sales 2015-07-16 Brian Honea in Daily Dose, Featured, Market Studies, Newslast_img read more

Headwinds Devastate Goldman Sachs’ Q1 Profits

first_img April 19, 2016 1,405 Views Tagged with: Earnings Goldman Sachs Profits  Print This Post On the other hand, Goldman Sachs said that debt underwriting net revenues were significantly higher compared with the first quarter of 2015, “primarily reflecting an increase in investment-grade activity.” Overall, the firm’s investment banking transaction backlog decreased compared with the end of 2015, but was higher compared with the end of the first quarter of 2015.Investing and lending net revenues fell 93 percent from the last quarter and 95 percent year-over-year to $87 million for the first quarter of 2016. Goldman Sachs attributes this decrease to a “significant decrease in net revenues from investments in both private and public equities, which were negatively impacted by generally lower global equity prices and corporate performance during the first quarter of 2016.”Debt securities and loans net revenues were also significantly lower compared with the first quarter of 2015, primarily “reflecting lower net revenues related to loans and lending commitments to institutional clients (including higher provision for losses) and lower net gains from investments,” the statement said.“Looking ahead, we will continue to focus on delivering superior service to our clients and managing our business efficiently, which remain essential to generating shareholder value over the long term,” Blankfein said.Click here to view Goldman Sachs’ 2016 First Quarter Earnings Statement. About Author: Xhevrije West The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Earnings Goldman Sachs Profits 2016-04-19 Brian Honea Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. Servicers Navigate the Post-Pandemic World 2 days ago Share Save Home / Daily Dose / Headwinds Devastate Goldman Sachs’ Q1 Profits in Daily Dose, Featured, News Related Articlescenter_img Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Investment banking firm Goldman Sachs is the latest financial firm to have its profits take a turn for the worse, following plummeting incomes reported from JPMorgan Chase, Citigroup, Bank of America, Wells Fargo, and PNC.According to Goldman Sachs’ 2016 first quarter earnings statement released Tuesday, net income at the firm fell 60 percent year-over-year due to operational troubles in all areas of the business.Goldman Sachs reported net earnings of $1.14 billion for the first quarter ended March 31, 2016, up 48 percent from $765 million in the fourth quarter of 2015 but down 60 percent from a year ago when earnings totaled $2.84 billion.Net revenues at the investment firm fell 13 percent from the fourth quarter of 2015 to $6.34 billion for the first quarter of 2016 and decreased 40 percent from $10.62 billion last year.Lloyd C. Blankfein, Chairman and CEO at Goldman Sachs noted, “The operating environment this quarter presented a broad range of challenges, resulting in headwinds across virtually every one of our businesses.”Diluted earnings per common share were $2.68 compared with $5.94 for the first quarter of 2015 and $1.27 for the fourth quarter of 2015, the statement showed.Investment banking net revenues were $1.46 billion for the first quarter of 2016, 23 percent lower than the first quarter of 2015 and 5 percent lower than the fourth quarter of 2015. Meanwhile, underwriting net revenues fell 27 percent year-over-year to $692 million, due to “significantly lower net revenues in equity underwriting, reflecting low levels of industry-wide activity during the quarter,” the statement said. Headwinds Devastate Goldman Sachs’ Q1 Profits The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: ATR Rule Sends Borrower Claims Packing Next: Counsel’s Corner: The Battle Over GSE Profits is Raging Subscribe “The operating environment this quarter presented a broad range of challenges, resulting in headwinds across virtually every one of our businesses.”Lloyd Blankfein, Goldman Sachs Chairman and CEO Sign up for DS News Daily last_img read more

Bank of America Nearly Fulfills Settlement Obligation

first_img Demand Propels Home Prices Upward 2 days ago Bank of America 2016-12-01 Brian Honea Bank of America Nearly Fulfills Settlement Obligation Bank of America has until August 2018 to pay off its consumer relief obligation under its August 2014 settlement with the U.S. Department of Justice and six states.But it appears that the bank will pay off that obligation two years before the deadline. Professor Eric D. Green, independent monitor of the settlement, reported that the bank had conditionally paid nearly all (97 percent) of its $7 billion consumer relief obligation as of August 2016, according to the monitor’s seventh report filed on the Bank of America’s progress toward fulfilling its settlement obligation.“Based on credit testing that is underway, it appears that Bank of America is on target to fulfill its obligations under the settlement agreement this year, well ahead of the four-year deadline,” Green said.The monitor’s staff conditionally approved another $449.8 million worth of consumer relief credit submitted by Bank of America for the period of July and August 2016, which brought the amount of conditionally validated credit up to $6.8 billion. The amount is conditional upon the monitor’s determination that the bank has made all efforts to comply with the settlement agreement requirements.According to Green, more than half (53 percent) of the loan modifications provided by Bank of America have been to Hardest Hit Areas, or areas designated by HUD to have the highest concentration of distressed and/or foreclosed homes. The monitor reported that a large number of these modifications have been used on loans guaranteed by the VA or FHA.Green reported that the largest consumer relief category, first-lien principal reduction modifications, have reduced monthly payments for recipients by an average of $599 per month—a 37 percent decrease. The principal reduction on mods has been 50 percent on average, which has resulted in a decline of 176 percent in average LTV ratio (down to 75 percent) and a decline in the average interest rate from 5.38 percent down to 2.10 percent, according to Green.“This relief directly and materially assists homeowners struggling to afford to stay in their homes,” Green said.On August 20, 2014, Bank of America settled with the Department of Justice and six states for a record $16.65 billion to resolve claims that the bank as well as its Countrywide, Merrill Lynch, and First Franklin divisions packaged and sold toxic mortgage-backed securities and collateralized debt obligations in the years leading up to the financial crisis.Under the settlement agreement, Bank of America agreed to pay $9.16 billion directly to federal agencies and six states; $7 billion in consumer relief, which may include first-lien principal forgiveness or forbearance, second-lien extinguishment, and community reinvestment and neighborhood stabilization; and $490 million for the payment of consumer tax liability as a result of consumer relief.For the monitor’s latest report, click here.For more information on the settlement, or to view an interactive map to see what types of relief are going where, click here. The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, News Subscribe Share Save Tagged with: Bank of America Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago December 1, 2016 1,614 Views  Print This Post Previous: The SFR Rental Vacancy Rate Grows Next: Is the Current State of the Housing Market Able to Bolster Demand?center_img Home / Daily Dose / Bank of America Nearly Fulfills Settlement Obligation The Best Markets For Residential Property Investors 2 days ago About Author: Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

How Does Homebuying Power Stack Up Across Ethnicity?

first_img  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago How Does Homebuying Power Stack Up Across Ethnicity? in Daily Dose, Featured, Journal, Market Studies, News April 12, 2018 2,168 Views For a new report, Zillow calculated buying power among major ethnic and racial groups to see what percentage of each group could afford a median-priced home on the median salary for their group without spending more than 30 percent of their income on housing. Homebuyers in 2017 were able to afford nearly three quarters of homes available for sale during the year,  according to Zillow. However, buying power was not uniform across all groups.“Distinct racial and ethnic gaps in homeownership exist nationwide, which could have long-lasting implications for future generations,” said Aaron Terrazas, Senior Economist at Zillow.Asian buyers fared best, able to choose from 85.2 percent of homes. White buyers had the second-greatest buying power, able to afford 77.6 percent of homes for sale. Hispanic homebuyers could afford 64.9 percent of homes available.Black homebuyers had the fewest options, able to afford just 55.3 percent of the homes available for purchase. It’s a disheartening statistic as the nation marks the 50th anniversary of the Fair Housing Act of 1968.”The divide between black and white Americans has proven stubbornly persistent across the long arc of American history, visible in incomes, accumulated wealth, and homeownership,” Terrazas said. In April, Zillow reported their gap between black and white homeownership has actually widened since 1900, increasing from 27.6 percent to 30.3 percent. This is “despite years of policy efforts,” according to Zillow.This gap is significant because homeownership is an important source of wealth-building in the United States. In fact, Zillow noted “more than half the overall wealth of American households is held in their primary residence.” Furthermore, “Black and Hispanic homeowners rely on their homes for wealth more than white homeowners do,” according to Zillow. When examining market-level data, Zillow found that black homebuyers had less buying power than other major groups in all but three of the largest 35 housing markets in 2017.In the New York/Northern New Jersey, Houston, and Boston markets, black homebuyers had slightly more buying power than Hispanic buyers. In six of the largest 35 markets, black homebuyers could afford less than one-fourth of homes for sale. Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribe Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and DSNews.com, MReport and theMReport.com. She holds degrees in journalism and art from the University of Georgia. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Tagged with: African-American buyers asian homebuyers buying power ethnicity Hispanic buyers Homebuyers African-American buyers asian homebuyers buying power ethnicity Hispanic buyers Homebuyers 2018-04-12 Krista Franks Brock Previous: College Students Plagued by ‘Housing Insecurity’ Next: The Industry Pulse: Updates on US Bank, Mr. Cooper, and More Related Articles Share Save Home / Daily Dose / How Does Homebuying Power Stack Up Across Ethnicity? Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily About Author: Krista Franks Brocklast_img read more

Study: Look Beyond New Construction to Solve Inventory Shortages

first_img Study: Look Beyond New Construction to Solve Inventory Shortages Related Articles  Print This Post in Daily Dose, Featured, Market Studies, News Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Inventory shortages have been making headlines nationally and in many housing markets across the nation. According to a recent research by the Brookings Institution, “It’s not your imagination. The U.S. really is adding less housing than it used to.” However, while the conversation here usually turns to housing construction, researchers at Brookings say construction is only part of the story. If policymakers want to truly effect change, they need to look beyond construction stats. About 70 percent of new housing stock comes from new construction, so construction definitely merits attention, the report said. However, another 15 percent of new housing stock enters the market by way of “reconfigurations of existing buildings.” Restorations, conversions of non-housing buildings into housing units, and mobile homes are also sources of new housing inventory; and the importance of these more minor contributors varies by region and urban status. The researchers at Brookings advised policymakers, “If we want to understand and correct housing shortages, we need to look below the national level.” To gain a full perspective of housing inventory across the nation, Brookings looked at churn rates—the percentage of additions and losses to housing inventory in each major region and in urban, suburban, and non-metro areas. Nationally, churn rates are down considerably, declining from 7.5 percent between 1985 and 1987 down to about 2.5 percent between 2011 and 2013. Brookings noted, “Most of the decline in churn was driven by the slow rate of additions to the housing stock.”The suburbs accounted for most of the growth in housing inventory between 1987 and 2013, although the pace of growth is on the decline, following the national trend. In fact, the suburbs are experiencing a steeper decline than urban or non-metro markets. In the suburbs, new inventory is most often the result of new construction. Fewer than one in 10 “new” homes are added to suburban markets through “reconfiguration of existing structures,” and other sources of inventory also play insignificant roles in these markets. On the other hand, in central cities, about one out of four homes are added to the market by reconfiguration, which includes dividing a single-family home into an apartment or adding an apartment over a garage. In non-metro areas, mobile homes play an important role, adding more to inventory than reconfigurations or restorations. Regionally, the Northeast has the lowest percentage of new construction and a higher rate of reconfiguration as a share of new inventory than any other region. New construction accounts for a larger share of additional inventory in the West and South than in other regions. Mobile homes played a larger role in inventory gains in the South than in other regions, contributing to 10 percent of growth, compared to just 4 percent in the Northeast. With inventory growth on the decline across the nation and with a noticeable steep decline in the suburbs, the researchers at Brookings say, “Land use regulation and property taxes badly need a 21st-century makeover.”Zoning laws, property taxes, and building codes generally favored low-density, single-family housing; and that needs to change, according to Brookings. “Suburbs could learn from their urban cousins on how to accommodate more housing growth through mechanisms beyond new construction,” according to Brookings. Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and DSNews.com, MReport and theMReport.com. She holds degrees in journalism and art from the University of Georgia. The Week Ahead: Nearing the Forbearance Exit 2 days ago April 26, 2018 1,811 Views Home / Daily Dose / Study: Look Beyond New Construction to Solve Inventory Shortages The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Construction Homes HOUSING Inventory Old Buildings Restoration Single-Family Homes Suburbs Supply tiny homes Urban Previous: Riding the Wave of Innovation Next: Auction.com Partners with Think Realty Radio About Author: Krista Franks Brock Data Provider Black Knight to Acquire Top of Mind 2 days ago Construction Homes HOUSING Inventory Old Buildings Restoration Single-Family Homes Suburbs Supply tiny homes Urban 2018-04-26 Krista Franks Brock Subscribelast_img read more

GDP Gets a Boost, But How Is Housing Faring?

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribe The Bureau of Economic Analysis announced Friday that “advance” estimates reported the GDP increased annually by 3.2% in the first quarter of 2019, building upon the 2.2% increase in the fourth quarter of 2018.The Bureau’s first quarter estimates are based on data that is incomplete, or subject to further revision. A second estimate for the first quarter, based on more complete data will be released on May 30.“While early projections suggested that first quarter GDP would weaken from the third quarter (3.4%) and fourth quarter (2.2%) of 2018, today’s data show that GDP growth was 3.2% in the first quarter,” said Danielle Hale, Chief Economist for Realtor.com. “This is a very strong pace of growth, and suggests that most of the economic loss from the government shutdown was also made up for in the first quarter.”As it pertains to real estate, Hale said fixed investment continued to slip, registering the lowest year over year growth rate since 2011 as builders struggle to build housing at the most in-demand, lower price points. And while growth from net exports, government spending, and private investment boosted GDP this quarter, the contribution from consumer expenditures, while positive, was half that of the fourth quarter.”We think housing could be a bright spot for the economy in 2019, and it’s one that most economists are sleeping on,” said Brett F. Ewing, Chief Market Strategist for First Franklin Financial Services. “With the Fed out of the picture and growth moderating, mortgage rates should stay around four percent for the remainder of 2019 and there is obvious appetite from prospective buyers at these levels. Specifically, we think new home sales could surprise to the upside and get to near double-digit growth this year.”Ewing added that “REITs are also attractive in this low interest rate environment—their balance sheets have never been stronger and despite a recency bias that continues to cause investors to call for a real estate crisis around every slowdown in the economy, we think real estate fundamentals are strong enough to weather a storm.”According to the report, increases in the GDP during the first quarter reflected positive contributions from personal consumption expenditures (PCE), private inventory investment, exports, state and local government spending, and nonresidential fixed investment. Imports, which are a subtraction in the calculation of GDP. These contributions were offset by a decrease in residential investment.The current-dollar GDP jumped to $197.6 billion, an increase of 3.8%, in the first quarter to a level of $21.06, continuing increases from the fourth quarter of 2018 when the current-dollar GDP increased 4.1%, or $206.9 billion.Also seeing increases were the price index for gross domestic purchases, which grew by 0.8% in the first quarter, and the current dollar personal income increased $147.2 billion in the first quarter. Current-dollar personal income increased by $229 billion in the fourth quarter of 2018.The reports add that disposable personal income increased by 3% ($116 billion) after a 5.8% increase in the fourth quarter of 2018. Real disposable income increased 2.4% following an increase of 4.3% last quarter.Personal savings grew from $1.07 trillion to $1.11 trillion in the first quarter of 2019.  Print This Post Share Save April 26, 2019 1,260 Views GDP Gets a Boost, But How Is Housing Faring? in Daily Dose, Featured, News About Author: Mike Albanese GDP GDP Growth 2019-04-26 Mike Albanese Related Articles Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Previous: Title, Mortgage Companies Partner to Benefit Customers Next: Chapter 13 Bankruptcy: A Matter of Definition The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / GDP Gets a Boost, But How Is Housing Faring? Tagged with: GDP GDP Growth The Week Ahead: Nearing the Forbearance Exit 2 days ago Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

Donegal Deputy says Budget 2015 doesn’t go far enough

first_img Pinterest WhatsApp Homepage BannerNews By News Highland – October 14, 2014 News, Sport and Obituaries on Wednesday May 26th Google+ Twitter WhatsApp Increases in child benefit, a partial restoration of the Christmas bonus scheme, changes to the entry level of the Universal Social Charge and two new USC rates for higher earners and the self employed.They’re some of the main features of Budget 2015 which for the first time in seven years sees no new spending cuts or overall tax increases.Opposition TDs have been reacting to the Budget.They are accusing the Government of not doing enough to help those who are struggling.Sinn Fein’s Finance Spokesperson Donegal Deputy Pearse Doherty says there’s nothing new in this Budget:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2014/10/19doher.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Twitter Facebook Pinterestcenter_img Facebook Google+ NPHET ‘positive’ on easing restrictions – Donnelly RELATED ARTICLESMORE FROM AUTHOR 448 new cases of Covid 19 reported today Three factors driving Donegal housing market – Robinson Previous articleAll the details from Budget 2015 as they were revealedNext articleU2 buys back Hanover Quay Studio for €450K News Highland Help sought in search for missing 27 year old in Letterkenny Donegal Deputy says Budget 2015 doesn’t go far enough Nine Til Noon Show – Listen back to Wednesday’s Programmelast_img read more

Those who received household charge bill in error invited to contact the council

first_img Three factors driving Donegal housing market – Robinson Help sought in search for missing 27 year old in Letterkenny Pinterest Google+ Twitter Pinterest By News Highland – July 13, 2012 448 new cases of Covid 19 reported today Donegal County Council are appealing to homeowners to contact them if they have received a bill for the household charge in errorA small number of households in the County have received a letter asking them to pay the Household Charge, even though they have already paid.Donegal County Councils Director of Finance, Garry Martin, has asked anyone one who has received a letter to contact the Council.He says the situation will be rectified:[podcast]http://www.highlandradio.com/wp-content/uploads/2012/07/gm830CHARGE.mp3[/podcast] Calls for maternity restrictions to be lifted at LUH Facebook Google+center_img News WhatsApp Guidelines for reopening of hospitality sector published NPHET ‘positive’ on easing restrictions – Donnelly Previous articleCouncil introduces short term free carparking in BuncranaNext articleBuncrana Council wants long term plan for Swilly Ferry service News Highland Those who received household charge bill in error invited to contact the council Facebook RELATED ARTICLESMORE FROM AUTHOR WhatsApp Twitterlast_img read more