Joseph & Cheryl Melendez's (melendezteam) Blog

Here Comes The "New" Stimulus Package  The Senate is now debating on the amendments to the President's stimulus package that Con­gress has already passed.  Senators are pushing to add government incentives to help the hous­ing market.  These incentives could include larger tax credits for people ...

Goodbye to McMansions and, hello to the Mini Mac, as Americans turn to 'right-sized' homes. Recent research suggests that homes being built today are getting smaller. According to the U.S. Census Bureau, the average size of homes started in the 3Q08 was 2,438 square feet, down from 2,629 square ...

  On a Fed NoteSpeaking to the Massachusetts Mortgage Bankers Association recently, Boston Federal Reserve President Eric Rosengren acknowledged that the economy is in a deeper recession than previously thought. He said that there are signs that conditions will improve in the second half of 2009....

The government is looking into creating a "bad bank" that would buy bad or illiquid assets from banks thus freeing up money they can then lend out and get the money supply flowing again.  This is another plan designed to get the TARP funds the government is giving the banks loaned out to help sti...

  On a Fed NoteSpeaking to the Massachusetts Mortgage Bankers Association recently, Boston Federal Reserve President Eric Rosengren acknowledged that the economy is in a deeper recession than previously thought. He said that there are signs that conditions will improve in the second half of 2009....

To date nearly half of the $350 Billion of the $700 Billion TARP (Troubled Asset Relief Program) fund, approved by congress and earmarked to "bailout" financial institutions, has been distributed. At week's end about $17B remained uncommitted, that is, until President Bush and Treasury Secretary...

Washington's programs have lifted Wall Street a bit. But, little has reached Main Street and this is where future economic groundswell must be generated, from the bottom up. Passing over the little guy, as billions upon billions are dished out to Wall Street cronies and other special interest gr...

Washington's programs have lifted Wall Street a bit. But, little has reached Main Street and this is where future economic groundswell must be generated, from the bottom up. Passing over the little guy, as billions upon billions are dished out to Wall Street cronies and other special interest gr...

Over the past year, we have heard the different corners of the business and political spectrum declare that "the economy is in recession" and another answer "no it isn't, it takes two back-to-back negative growth quarters to make a recession." And we are supposed to believe that a official decla...

What will the fabled "bottom of the market" look like? Here are several indicators likely to precede an increase in housing prices and activity. New home sales rise   New homes began experiencing a price correction several months before existing homes. Logically, onewould also expect new home sal...