housing crisis: Did You Know with Caruso....
- 10/12/10 06:34 AM
Did You Know... We are now seeing a double whammy hit our communities and states. First, there is a loss of sales tax revenue as consumers and businesses cut back to the bare bones on spending, lower retail sales means less tax revenue. History tells us and the current political climate warns that raising sales tax and fees is not the answer and will not be well received. The only answer to this dilemma is to stop expansion and radically cut back on services, thus pulling expenditures in line with revenue. Municipal Bonds have long been a favorite on Wall Street and … (0 comments)
housing crisis: Builder Confidence Decline
- 07/24/10 06:45 AM
Recently I read that builder confidence in the market for newly built, single-family homes declined for a second consecutive month in July to its lowest level since April of 2009. The Housing Market Index (HMI) fell two points from a downwardly revised number in the previous month to 14 for July. This month's lower HMI reflects a number of underlying market conditions that builders are seeing, including hesitant home buyers, tight consumer credit, and continuing competition from foreclosed and distressed properties that are priced below the cost of construction. The pause in sales following expiration of the home buyer tax … (0 comments)
Every now and then I get the very popular question whats next for housing? It has been 5 years since US housing peaked and in the pursuant years we have endured the most severe market adjustments. The current weakness in housing is viewed as a payback from stimulus-induced highs. Many economists project that housing will stabilize once the correction has been made. Housing Related Jobs - Housing-related employment and construction have taken their hits and are less vulnerable. At its housing and construction accounted for 7% of all US jobs; not it accounts for 5%. Preceding the boom, residential … (1 comments)
The size of new single-family homes completed declined last year, dropping to a nationwide average of 2,438 square feet, according to detailed information about the characteristics of new homes completed in 2009 that was released recently by the Census Bureau. After increasing continually for nearly three decades, the average size of single-family homes completed in the United States peaked at 2,521 square feet in 2007. It was essentially flat in 2008, then dropped in 2009, so that new single-family homes were almost 100 square feet smaller in 2009 than in 2007. We can't forgot about the decline in the size … (1 comments)
housing crisis: Housing Market News Story with Caruso
- 04/14/10 10:55 AM
Check this out! Let me know what you think! http://abclocal.go.com/kabc/story?section=news/consumer&id=7384877 And thank you for making me Your Orange County Real Estate Connection www.MichaelCarusoRealEstate.com Best regards, Michael Caruso, Broker ABR ABRM CRB CRS GREEN GRI 2007 President, Orange County Association of Realtors (949) 753-7900 … (0 comments)
housing crisis: Give Up Your Home or Your Car?
- 12/13/08 07:39 AM
A recent news release indicated that in a survey, new homeowners were asked which item they would rather give up if they had to...their home ~ or their car? Do you believe that the overwhelming response was: the Home?? The rationale was that they ‘could live with family or a friend, but needed a car to get to work and get around'. Come on America...we live in a disposable era, but this is incredulous! We have got to take some responsibility when we sign on the dotted line. Perhaps Nordstrom started this fad with their famous ‘return it, no questions asked' … (0 comments)
housing crisis: Bernanke…Pinpoints Housing as Road to Recovery
- 11/04/08 09:59 AM
Well, it seems like Bernanke understands it. He has hinted that the economy will ride its road to recovery when the housing market recovers. And he recently outlined a number of possible ways to structure housing finance but did not state his own preferences, as reported by Jeff Collins at the O.C. Register. Bernanke thinks that in this aftermath of the housing finance system, the reconstruction of finance will need better safeguards to allow it to function during times of stress. He also wants the new lending systemizations not to pose a systemic risk to our financial markets and the economy. … (0 comments)
housing crisis: The Perfect Ride in Real Estate...
- 09/19/08 10:53 AM
By now most people know there is no perfect ride in the real estate market. There are up's and down's in real estate, some more protracted than others but overall, the average "market" moves in approximately 4 year cycles. NAR (the National Association of Realtors) has tracked statistics and tells us that the average home nearly doubles in value every 10 years. I believe that statistic is for the last half century, so it is not a snap shot. And, we all know that over the long term, real estate shows to be a great investment. Plus...think of the tax advantages … (0 comments)
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