Real Estate News Today 4-9-2012

09 Apr

Today’s news that may be of interest to you:

2011 State Per Capita Income Levels and Growth Rates – That Light at the End of this Tunnel is Not Another Train
Ted C. Jones Blog | April 9, 2012
If an economic recovery was predicated on rising per capita personal income levels, then you would pronounce the recession over and good news ahead. 

Caterpillar’s big bet on the U.S. economy
Yahoo! News | April 9, 2012
It hasn’t been long since Caterpillar Inc looked like the typical resident of the Rust Belt. Having misjudged how deep the U.S. economy would decline, the world’s largest maker of construction machinery reduced its workforce by 33,000 people worldwide in 2009, closed plants and posted lower profits. (If you’ve been watching Spokane news, you’re probably aware that Caterpillar has made an investment into building a large regional distribution center here adding over 100 jobs.  Good info here about their overall startegy that affects our local economy. ~Anthony)

Georgia Approves Bill to Expand Land Banks
HousingWire | April 6, 2012
The Georgia General Assembly approved a bill last week authorizing local communities to form land banks and fund the acquisition and rehab of vacant homes.  (It seems to me that this is a much better solution than ripping down large portions of neighborhoods as some other communities are doing.  Check out another article from HousingWire Creative destruction for more on demolishing homes instead of trying to rehabilitate. ~Anthony)

U.S. Employment Growth Seen Rebounding From Slump
Bloomberg | April 9, 2012
The March setback in hiring will prove temporary as the U.S. economy, in its third year of expansion, now is better equipped to overcome a slowdown in Europe and rising fuel costs, economists said.

Where Do People Go When They Drop Out of the Labor Force?
The Washington Post | Aprl 8, 2012
In March, the unemployment rate dropped from 8.3 percent from 8.2 percent. But that wasn’t because the economy added an enormous number of jobs.

Credit Scores Rising, LTVs Dropping on New Mortgages: Report
DSNews | April 6, 2012
Mortgage lenders remain cautious in terms of credit quality, down payments, and valuations, as evidenced by the findings outlined in the new Origination Insight Report generated by Ellie Mae.

Housing Scorecard Points to Stability in Market
HousingWire | April 6, 2012
The Obama administration’s housing scorecard for March shows mortgage delinquencies down over last year and home prices unchanged and remaining at historic lows.

Multifamily Bonds Surging to Record U.S. as CMBS Fade: Mortgages
Bloomberg | April 9, 2012
Bonds backed by Fannie Mae and Freddie Mac tied to apartments soared to a record as the government-supported mortgage companies made low-cost loans on rental properties amid a continued slide in home values. 

Anthony Carollo 2007 EMAIL  

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Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA 99201
Telephone: 509.328.7171
Direct Line: 509.321.3939
Direct Fax: 866.652.8834

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