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

Pickin’ For Phil

first_imgBluegrass pickers rally for Phil Leadbetter in upcoming benefit concert.I have a particular Walter Mitty fantasy. It’s always been my not-so-secret dream to make music for a living. Unfortunately, I’ve run a bit short on musical talent, so I play my trade day each in my fifth grade classroom and do some music writing and promotions on the side. While a side of me wonders what it would be like to be up there on that stage banging a drum, there is much of me that is thankful for all my teaching profession provides me – the chance to work with kids each day, the notion that my work means something, a steady income, and – honestly – medical insurance.It’s a bold reality that many of our favorite musicians, particularly those on the roots music and Americana scenes, wake each day without medical insurance and continually walk the fine line between health and physical – and financial – disaster.This reality was made quite clear to me recently when I caught wind of the plight of dobro maestro Phil Leadbetter.Phil did exactly what I would love to do; he left his chosen profession, nursing, to pursue a career in music. And he has been quite successful. In the bluegrass world, Phil is a dobro player’s dobro player. He has been a member of J.D. Crowe & The New South, Wildfire, and Grasstowne, and was most recently playing with The Whites, a country music group.Phil’s list of accolades and award nominations is lengthy, with recognition coming from far and wide. Most notably, in 2005, Phil garnered two awards from the International Bluegrass Music Association: Dobro Player of the Year and Instrumental Album of the Year for his record Slide Effects. Phil was also part of J.D. Crowe’s band in 1994 when their record Flashback was nominated for a Grammy.Last year, Phil went to the doctor due to some flu like symptoms that wouldn’t go away. What seemed like a minor illness evolved into a devastating diagnosis – Hodgkin’s Lymphoma. Early chemotherapy was thought to have controlled the disease, but Phil emerged from treatment a member of the minority of patients whose cancer did not respond to the drugs.Phil currently continues his fight against his disease. And, as you can guess, he is a musician without insurance.Phil’s treatment is not inexpensive, and the costs are piling up. In what can only be described as a genuine outpouring of love for their dobro pickin’ comrade, the bluegrass community is rallying behind Phil in Bristol, Tennessee, on Sunday, April 1st, at Pickin’ For Phil, a benefit concert featuring some of the finest musicians in the bluegrass world.Taking place at the beautiful Paramount Theater, a who’s who line up, including all of Blue Highway, Mike Bub, Michael Cleveland, Darrell Webb, Kenny & Amanda Smith, Kim Fox, Missy Raines, and many, many more, will give their time – free of charge – to raise money to help pay for Phil’s treatment.If you happen to be in the area – Bristol is only an hour’s drive from Asheville and Knoxville – I would highly recommend rolling to town to check out the show and support Phil in his fight to beat cancer. There will be two shows on Sunday – one at 3:00 P.M. and a second at 7:30 P.M. – and tickets cost $20.00. The pickin’ will be fierce and the money raised is going to a great cause.For more information on Pickin’ For Phil, call the Paramount Theater at 423.274.8920 or surf over to www.bristolrhythm.com.last_img read more

NextGen know-how: Appreciation in your credit union

first_img 3SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr The holidays are approaching, and one task on my list this month is gifts for my children’s teachers. I’m not very creative and, honestly, I’d rather buy a gift card and call it a day. Yet I feel a longing to really show my appreciation and make the gifts more meaningful.Lots of ideas popped into my head, and then the worry crept in of not having enough time to put the ideas into action. Then I started to rationalize why I don’t have enough time: “I’m too busy,” I thought. “I work full time, I have three kids under five, and I just don’t have the time.” Then I thought, “I can just contribute to the class gift. That’s why they have a class gift anyway; to make it easier on the parents.” But easy doesn’t always equate to meaningful.Look, I know the teachers will appreciate whatever we decide to give them. But the more I reflected on this, I felt the desire to do something special to really show that we care and appreciate all they do for our two children. It’s fine to purchase a gift card or contribute to the class gift, but I felt like we could do something more individual and unique to show we put some thought into it.With the hustle and bustle of the season, most of us tend to run around furiously trying to just get it all done (I know I do!). We don’t always take the time to think about the message we send through our actions. Sometimes going that extra step can convey a more meaningful message. continue reading »last_img read more

Owgeo Elks Lodge hosts antique and craft emporium

first_imgThis is the lodge’s first craft emporium. Organizers said they expanded the space that was originally made for the antique emporium to align with distancing guidelines and also fit in more vendors.  Organizer Anita Martin says it was important to the lodge to hold this event to bring in some added income due to some of their events getting canceled.  OWEGO (WBNG) — The Owego Elks 1039 held an antique and holiday craft emporium today. “It gives the crafters, the artisans, the direct salespeople an opportunity to sell their products for the holidays,” Martin said.center_img Martin also says the lodge has plans to hopefully do another craft emporium in the spring. The Lodge hosted 40 different vendors including different crafters, artisans, and direct sales companies. last_img read more

Tour de France 2019: Elia Viviani gets first stage win; Julian Alaphilippe retains yellow jersey

first_img Tour de France 2019: Julian Alaphilippe takes yellow jersey after storming to stage three win Elia Viviani triumphed in a sprint finish in Nancy to claim his first Tour de France stage win as Julian Alaphilippe retained the yellow jersey.It was Viviani’s Deceuninck-Quick Step teammate Alaphilippe who attacked late in stage three and, determined not to be outdone, the Italian took the glory Tuesday when he crossed the line just ahead of Alexander Kristoff and Caleb Ewan. Tour de France 2019: Everything you need to know Tour de France 2019 by the numbers A three-rider breakaway of Yoann Offredo, Frederik Backaert and Michael Schar built an impressive gap of three minutes with over 200 kilometers remaining, with the trio maintaining an advantage until the latter stages.Two crashes held up the peloton in its pursuit, but the breakaway group eventually was caught in a dramatic approach to the line. Related News Viviani — who won omnium gold at the 2016 Olympics — came out on top after fantastic work from his team led by current leader Alaphilippe, who selflessly helped set the stage for the final sprint in the train.Points jersey leader Peter Sagan missed out on the podium in fourth, while defending champion Geraint Thomas maintained his position in seventh, 45 seconds behind Alaphilippe.A slow-motion look at @eliaviviani ’s win La victoire d’Elia Viviani en slow-motion #TDF2019 pic.twitter.com/8RA5jLko4O— Tour de France (@LeTour) July 9, 2019PERFECT TEAM WORKViviani has five Giro d’Italia and three Vuelta a Espana stage wins to his name, but he had to wait for one in Le Tour.However, thanks to what he hailed as “perfect team work,” the 30-year-old was able to celebrate the breakthrough.”That means a lot,” he said. “I can’t believe it. It was the big goal of the year. We missed our first chance to win a stage and take the yellow jersey, but after yesterday with Julian it was the moment the team switched on.”I just needed to do my job in the last few hundred meters. It is what I can do better if they launch me like that. I was focused on my lead out, it was perfect team work.”STAGE RESULT1. Elia Viviani (Deceuninck-Quick Step) 5:09:202. Alexander Kristoff (UAE Team Emirates) “3. Caleb Ewan (Lotto-Soudal) “4. Peter Sagan (Bora-Hansgrohe) “5. Dylan Groenewegen (Jumbo Visma) “CLASSIFICATION STANDINGS   General Classification1. Julian Alaphilippe (Deceuninck-Quick Step) 14:41:392. Wout van Aert (Jumbo-Visma) +0:203. Steven Kruijswijk (Jumbo-Visma) +0:25Points Classification1. Peter Sagan (Bora-Hansgrohe) 1042. Elia Viviani (Deceuninck-Quick Step) 813. Michael Matthews (Team Sunweb) 75King of the Mountains 1. Tim Wellens (Lotto Soudal) 72. Xandro Meurisse (Wanty-Gobert) 33. Greg van Avermaet (CCC) 2WHAT’S NEXT?Stage five brings with it the first true climbs of the Tour, with the 175.5km route through the Vosges area including tests such as the Cote des Trois-Epis and Cote des Cinq Chateaux.last_img read more

Police: Florida Woman Killed Disabled Grandson By Drug Overdose

first_imgFlorida law enforcement officials say they are dealing with a case that is unusually tough for them.According to Bradenton police, 87-year-old Lillian Parks gave her disabled 30-year-old grandson, Joel Parks, a fatal dose of unidentified drugs because she was worried that there would be no one to care for him after she dies.Detectives took her into protective custody last Sunday to undergo an evaluation and medical treatment, spokesman Brian Thiers says.Joel Parks lived with his grandmother during the weekends, and spent the week at a group home during the week, as he was unable to take care of himself.On Sunday, Joel’s sister came to the grandmother’s apartment to check on him, and called 911 when she discovered his body.Reports state that Joel’s father is dead, and that his mother is estranged.Investigators say they will likely charge Lillian Parks with second-degree murder after she is released from a doctor’s care. They are still awaiting a toxicology report to reveal the substance that was used to kill Joel Parks.Thiers says police are trying to determine how long Joel Parks had been dead before his sister discovered his body. He adds, “This is a difficult case for our detectives. Partly, we feel bad for an individual who feels that the only option is to take another human being’s life because you’re so worried about their care after you’re gone. On the other hand, this was a process that was thought out, it was planned, and she took a human life.”last_img read more

Steelers take Ironhead’s son in first round

first_imgCOMING HOME—Pittsburgh Steelers first-round draft pick Cameron Heyward poses with a team jersey with coach Mike Tomlin, left, and team president Art Rooney II, right, during a news conference at the team’s headquarters on the Southside, April 29. (AP Photo/Keith Srakocic) Craig “Ironhead” Heyward rushed for 1,791 yards in 1987 at Pitt and was fifth in the Heisman Trophy balloting. He was selected by the New Orleans Saints in the first round of the 1988 NFL Draft.In a move to bolster an aging defensive line, the Steelers selected Ironhead’s son, Cameron Heyward, a 6-5, 300 pound defensive end from Ohio State with the 31st pick in the 2011 NFL Draft. None of the current starters are younger than 30 years old. “Don’t ever quit!” is the first piece of advice he was given by his daddy the minute that he set foot on a football field. Work hard, be patient and stick with it, and good things will happen. That kind of raw determination and work ethic enabled Heyward to be one of the best football players in the world.The Heywards lived in Monroeville until “Ironhead” died at age 39 from problems related to brain cancer and Cameron and his mother moved to Atlanta.You’ve probably heard the saying, “Be careful what you wish for—‘cuz you just might get it. “It’s actually been around even longer than that Pussycat Dolls song, “When I Grow Up.”“I was born in the heart of Pittsburgh and I lived out in Monroeville and I was praying that Pittsburgh would draft me,” said Heyward. “My mom went to Peabody High School and my grandparents still live in Highland Park. Going back to my old stomping grounds is going to be fun.”Ohio State’s football coach Jim Tressel knew the Steelers we’re going to draft Heyward eight months ago, but he never told anybody.“Coach Tomlin drove out to my pro day. I’ve always loved the team,” said Heyward. “The gut feeling is that I want to be in Pittsburgh and to be somewhere that you want to be is an unbelievable feeling.”Ohio State has a history of sending defensive line bums to the Steelers…Rodney Bailey, Doug Worthington and Thaddeus Gibson. Cameron Heyward will break that cycle.Meanwhile, All-Pro franchise quarterback “Big” Ben Roethisberger should prepare his body for another 50 sack season. The Steelers entered the draft needing help on an offensive line that has allowed more than 150 quarterback sacks the last three seasons.Second round pick Marcus Gilbert, who is 6-feet-6, and 330 pounds, played left tackle at Florida. But he is too slow to play tackle in the NFL and too weak and slow to play guard. Gilbert has narrow shoulders, collapsing lats and a pot belly. Maybe, the Steelers should give him a yellow game day security jacket and help him get on with his life’s work as a secret service agent.“My dad was the secret service agent for President Clinton, President Bush and President Obama,” said Gilbert. “I thought hard about going into the Secret Service, but football is something I always wanted to do.”There are several reasons why the Steelers didn’t win the Super Bowl. Perhaps the most glaring of their flaws was the lack of playmakers in the secondary. Starting cornerback William Gay has been a bust the last two years and doesn’t cover or tackle well. Pittsburgh may have found a replacement for Gay when they selected 6 foot, 185 pound Curtis Brown of Texas in the third round. Brown is a speedster with 4.4 speed in the 40 and ran the 100 in 10.6 in high school.Uncle Sam thought he had a second lieutenant before the Steelers decided to take on a project. Fourth round pick Cortez Allen, of Citadel Military College, is a 6-2, 200 pound cornerback and runs the 40 in 4.55. Allen is a very raw prospect. He didn’t play football until his senior year in high school and was only a two year starter at Citadel.Just as a preface, fifth round pick Chris Carter, a linebacker from Fresno State is his own man and isn’t striving to be James Harrison, LaMarr Woodley, or anyone else—-just the best Chris Carter he can possibly be. But you can’t ignore the fact that there are some striking similarities between him and Harrison. Carter (6-1, 250) has only competed in college, so he has not yet enjoyed the stunning success of Harrison, winning and losing Super Bowl’s and earning several Pro Bowl honors. I’m not suggesting for a moment that he is destined to. However, I think when you look at all the things these two steel warriors have in common, it’s plain to see that they are cut from the same cloth.“I have been watching James Harrison all the time on NFL Network,” said Carter.“He plays with passion. To be a player of that caliber is something I dream about.”Although the selection of Carter is intriguing, Colbert and the Steelers again had a brain freeze by adding an outside linebacker. The Steelers have the best two outside linebackers in football in Harrison and Woodley both in the prime of their careers and Jason “All” Worilds and Stevenson Sylvester were added to the roster last year. Carter figures to be nothing more than a cheerleader in 2011.Keith Williams, who is 6-4, 320 pounds, played offensive guard at Nebraska. The sixth round draft choice will be fighting for a roster spot.Few college football players have impressed the Steelers so much with their dedication to continuing education in all matters related to training and nutrition as Texas Tech running back Baron Batch, their seventh round pick. Mewelde Moore is a free agent, so the versatile Batch (5-10, 200) will get every opportunity to earn the third down back position. Isaac Redman, former Bowie State star, emerged at the end of last season as the team’s best option in short yardage.The draft is a sport of opinion, and opinions are subjective. Also, you get a different perspective when you’re part of the process. And even then, many so-called experts see things differently based on their own idea of what makes up the ideal football player.But the consensus outside the Steelers organization that their first round draft choice needed to be a defensive cornerback. Several teams, including the Green Bay Packers in the Super Bowl, were able to cut up the Steelers secondary like a knife through hot butter. William Gay, Bryant McFadden, Anthony Madison and Keenan Lewis proved that they cannot consistently stand on an island and handle their business and Pittsburgh didn’t address a replacement in rounds one or two. Is the general manager of the Pittsburgh Steelers, Kevin Colbert or Cam Bonifay?I give the Steelers draft a failing grade. Colbert and his Mickey Mouse scouting department seem to be Gomer Pyle-ing there way through the draft!last_img read more

Rebels, Leafs begin what could be a long stretch of games between the two West Kootenay rivals

first_imgBy Bruce Fuhr The Nelson Daily Sports There should be no question in the minds of the Castlegar Rebels and Nelson Leafs who their respective first round opponents will be when the Kootenay International Junior Hockey League playoffs begin. The Rebels thought to have a chance at stealing away the Murdoch Division title from the front-running Beaver Valley Nitehawks after beating the Fruitvale squad four consecutive times. But the Hawks answered the bell Sunday in the Sunflower City, bouncing the Rebels 7-3 to all but end Castlegar’s stretch run to the title. So Friday in Nelson, unofficially, begins a best-of-eleven series between the two West Kootenay rivals. Of course the first four games — including this weekend’s home-and-home series starting Friday at 7 p.m. in the NDCC Arena — will be a feeling out period. The real business takes place in Castlegar in the third full week of February. “Right now we’re preparing for the playoffs,” said Leaf coach and GM, Frank Maida. “Every day is important for the players to get ready, both mentally and physically.” Of course, you know the Rebels have a little more to play for than the Leafs. Steve Junker’s crew is not mathematically out of the race for the Murdoch Division title — trailing the Hawks by nine points with nine games remaining. The Murdoch champ receives an easier first-round opponent in the Spokane Braves. Meanwhile, the Leafs will finish third in the Murdoch and travel to either Castlegar or Beaver Valley to open the playoffs. So there’s really no incentive to bust a hump before the playoffs. Right? On the contrary says Maida. “This is a big weekend for us against Castlegar and we want both games,” Maida confessed. “We want the boys to come out to play a full 60 minutes and play good hockey against Castlegar. “That’s our key, battling with them on every shift.”Ironically, Beaver Valley has had Nelson’s number this season, losing once to the Leafs. Castlegar has gotten the better of Beaver Valley, until Sunday’s game. But not lost in translation is the fact Nelson has played the Rebels tough this season, splitting the first four games. Which should make for a very interesting best-of-eleven series starting Friday in Nelson.OVERTIME: Ironically is was a Nelson native that shot the lights out of the Rebels Sunday in Castlegar as Justin Niminiken not only scored the natural hat trick but added another goal and assist in the Beaver Valley win. . . .The Leafs finally have defenceman Blake Arcuri back in the lineup after the Nelson native returned from his second major injury of the season. Arcuri played in both weekend wins for Nelson over Golden and Columbia Valley. . . . Defenceman J.J. Beitel is listed as day-to-day. . . .Leaf coach Frank Maida was pleased with the play of rookie Carsen Willans on the recent East Kootenay trip saying, “Carsen played well all weekend but had a great game Saturday (against Columbia Valley.)” . . .No doubt the Walton boys will be front and center when Nelson meets Castlegar as Stuart, leading the Rebels in scoring, goes up against Andrew, goalie for the Leafs. Stuart Walton leads Anthony Delong in Castlegar scoring but Delong has the team lead in goals with 32. . . . Nick Newman leads the Leafs in scoring but Patrick Martens is back as the go-to guy. Martens, returning from the BCHL at the roster deadline, has seven points in three games including six goals. . . .The teams return to Castlegar for game two of the series. Game time is 7:30 p.m. in the Community Complex. [email protected]last_img read more