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Posts Tagged ‘ 2011 ’

Hotels: RevPAR increases 8.7% compared to same week in 2011

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Hotels: RevPAR increases 8.7% compared to same week in 2011

From HotelNewsNow.com: STR: Upper-midscale hotels top weekly gains Overall, the U.S. hotel industry’s occupancy was up 5.5% to 51.7%, its ADR increased 3.1% to US0.45 and RevPAR was up 8.7% to US.98. This is the weak season for hotel occupancy, but this is solid improvement over the same week last year. Note: ADR: Average...
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Mortgage originations down 20% at big four banks in 2011

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Mortgage originations down 20% at big four banks in 2011

Mortgage originations by the nation's largest four banks fell 20.4% in 2011 to a combined 7 billion from 2 billion in 2010, according to HousingWire analysis of the company's financial statements. Excluding Bank of America (BAC: 6.96 +2.35%), overall mortgage production among the big banks fell 6.3% in 2011. Citigroup's (C: 29.33 +1.03%) home...
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Q3 2011: Mortgage Equity Withdrawal strongly negative

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Q3 2011: Mortgage Equity Withdrawal strongly negative

Special Note: Dr. James Kennedy has a new method for calculating equity extraction: “A Simple Method for Estimating Gross Equity Extracted from Housing Wealth”. I still haven’t evaluated his method yet (here is a companion spread sheet), so the following is using my old “simple” method. Note 2: This is not Mortgage Equity Withdrawal...
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Ginnie Mae calls 2011 ‘best year yet’

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Ginnie Mae calls 2011 ‘best year yet’

Ginnie Mae reported .18 billion in net income for the fiscal year 2011, more than double the 1 million the year before. Ginnie guarantees timely payment of principal of interest on securities backed primarily by Federal Housing Administration and Veterans Affairs loans. The previous earnings high came at million in 2008. Revenues slightly increased...
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Bank Failure #26 in 2011: The Bank of Commerce, Wood Dale, Illinois

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Bank Failure #26 in 2011: The Bank of Commerce, Wood Dale, Illinois

Irresponsible: Behavior resulting in No consequences. by Soylent Green is People From the FDIC: Advantage National Bank Group, Elk Grove Village, Illinois, Assumes All of the Deposits of The Bank of Commerce, Wood Dale, Illinois As of December 31, 2010, The Bank of Commerce had approximately 3.1 million in total assets and 1.4 million...
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Goldman Sachs predicting 2011 downturn for homebuilders

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Goldman Sachs predicting 2011 downturn for homebuilders

This year may not be a great year for homebuilders as existing inventory floods the market through foreclosure resales and pessimism prevails about the spring home-selling season. According to Goldman Sachs (GS: 164.83 +0.12%), the first month of the year produced numbers indicating weak demand for new houses. Based on January mortgage application data,...
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NAHB: Housing starts to grow 21% in 2011

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NAHB: Housing starts to grow 21% in 2011

Housing will see gradual improvements this year, establishing momentum for stronger gains in 2012, said economists at the National Association of Home Builders International Builders’ Show in Orlando this week. “This year’s spring selling season will be better than last year’s,” said NAHB Chief Economist David Crowe, with job growth providing a stronger stimulus...
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Schedule for Week of January 2, 2011

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Schedule for Week of January 2, 2011

Happy New Year! The key report for this week will be the December employment report to be released on Friday, Jan 7th. Other key reports include the ISM manufacturing index on Monday, vehicle sales on Tuesday, and the ISM non-manufacturing (service) index on Wednesday. —– Monday, Jan 3rd —– 10:00 AM: ISM Manufacturing Index...
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Fitch sees 10% drop in home prices in 2011, negative outlook for MBS

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Fitch sees 10% drop in home prices in 2011, negative outlook for MBS

Fitch Ratings expects another 10% decline in home prices in 2011, as the supply of distressed properties continues to weigh down the housing market. Accordingly, analysts maintained the agency's negative outlook for the residential mortgage-backed securities space and said 53% of all investment-grade RMBS rated by Fitch have a negative outlook. The number of...
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CB Richard Ellis: Office Vacancy rate to peak in Q2 2011

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CB Richard Ellis: Office Vacancy rate to peak in Q2 2011

According to Reis, the office vacancy rate hit a 17 year high in Q3, but the rate of increase has slowed. Today CB Richard Ellis released a forecast for the office market: U.S. Office Real Estate Vacancy Rate expected to decline modestly in 2011 CBRE-EA forecasts that the office vacancy rate will peak in...
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