From the NY Fed: Empire State Manufacturing Survey The June 2013 Empire State Manufacturing Survey indicates that conditions for New York manufacturers improved modestly. The general business conditions index—the most comprehensive of the survey’s measures—rose nine points to 7.8. Nevertheless, most other indicators in the survey fell. The new orders index slipped six points...
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NY Fed: Empire State Manufacturing index increases in June
Goldman FOMC Preview: “Calming the Market”
A short excerpt from a research note by Jan Hatzius and Sven Jari Stehn at Goldman Sachs: FOMC Preview: Calming the Market The economic data have improved a bit since the last FOMC meeting … But the improvement has been far from “substantial.” Growth...
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Thursday: Retail Sales, Weekly Unemployment Claims
First, here is a price index for commercial real estate that I follow. From CoStar: Commercial Real Estate Prices Shake Off Effects of First Quarter Seasonal Slowdown with Strong Showing in April COMMERCIAL REAL ESTATE PRICE RECOVERY REGAINED MOMENTUM IN APRIL: As the effects...
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Secrets to Finding a Trustworthy Property Manager
Property management, in its broadest terms, is the oversight of real estate. This can encompass everything from personal property to capital assets. Property management is a service provided by local businesses who do their best to manage your assets. The current state of the...
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BLS: Job Openings decreased slightly in April
From the BLS: Job Openings and Labor Turnover Summary There were 3.8 million job openings on the last business day of April, little changed from 3.9 million in March, the U.S. Bureau of Labor Statistics reported today. The hires rate (3.3 percent) and separations...
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National Economic Outlook (June 2013)
The economic recession only lasted a year, but there wasn’t a recovery for homes because prices had climbed much too high and builders had built way too many of them. Prices had to fall, not just back to a “normal” level, but to an...
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Friday: Jobs, Jobs, Jobs
First, LPS released their Mortgage Monitor report for April today. According to LPS, 6.21% of mortgages were delinquent in April, down from 6.59% in March LPS reports that 3.17% of mortgages were in the foreclosure process, down from 4.20% in April 2012. This gives a total...
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Wednesday: ADP Employment, ISM Service Index, Fed’s Beige Book
The earliest report tomorrow – the weekly mortgage survey from the Mortgage Bankers Association – is expected to show 30 year mortgage rates at or above 4%. Neil Irwin at the WaPo asks: Will higher mortgage rates kill the housing market? Maybe not! ising...
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May’s Interest Rate Spike in Perspective
That’s a big move, people. See last week’s post for our current thinking on the housing impact of higher interest rates. Wow. If this keeps up in June, I may have to rethink some assumptions about the recovery. This interest rate spike is...
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