industry: Producer Price Index Release - Ahead of the Fed's FOMC Rate Decision Meeting - 09/18/07 01:53 AM
This morning, September 18th, the Bureau of Labor Statistics reported that The Producer Price Index for Finished Goods fell 1.4 percent in August, seasonally adjusted.  This decrease followed a 0.6-percent increase in July and a 0.2-percent decline in June.  At the earlier stages of processing, prices received by manufacturers of intermediate goods moved down 1.2-percent in August compared with a 0.6-percent advance in July, and the crude goods index dropped 3.0-percent after climbing 1.2-percent in the prior month.
Overall, however, Core PPI actually increased 0.2-percent in August.
The Producer Price Index (PPI) of the Bureau of Labor Statistics (BLS) is a family of indexes that measure the … (0 comments)

industry: Cautiously Optomistic Finish for First Half of 2007 - 06/29/07 06:21 AM
At the end of the 2nd quarter of 2007 the economy continues to stagger, although optimistically.
Existing Home Sales for May (Nationally) were off slightly from the previous month, but still above analysts' estimates with 5,990,000 units sold.
New Home Sales came in at 915,000 units and were off by 15,000 units from both the analysts' estimates and the prior months actuals of 930,000 units.
U. Michigan's Consumer Sentiment Survey showed slight improvement in contrast to the Conference Board's Consumer Confidence Index which was slightly lower at the end of the 1st half of the year, perhaps reflective of a lower than expected rise … (0 comments)

industry: Consumer Confidence Weakens in June - 06/26/07 03:07 AM
On the heels of the Conference Board's report last week of increases in the Leading Economioc Indicators, the Board reports this week that Consumenr Confidence is weakening.
The Conference Board Consumer Confidence Index, which had bounced back in May, reversed course in June. The Index now stands at 103.9 (1985=100), down from 108.5 in May. The Present Situation Index decreased to 127.9 from 136.1 in May. The Expectations Index edged down to 87.9 from 90.1.
The Consumer Confidence Survey is based on a representative sample of 5,000 U.S. households. The monthly survey is conducted for The Conference Board by TNS. TNS is the world's … (2 comments)

industry: Week to Watch the Markets for Interest Rate Trend Indications - 06/11/07 02:37 AM
Last week we witnessed an anomoly in the Financial Markets.  Stocks went "down" and Bonds also went "down" (yields went up).  These are nearly contradictory movements.  Traditionally as money flees "from" equities (Stocks) it flees "to" Bonds, increasing Bond prices and simultaneously reducing yields.  There were global events (New Zeland, et al.) in the financial markets that were probably the cause of this anomoly, but I don't think it is a sustainable anomoly.
This week we should see either a correction in the Stock Market (rising) causing Bonds to be less desirable and a sell-off in Bonds will drive yields (interest rates … (0 comments)

industry: To "Zillow" or Not to "Zillow" - that is the question. (I'ts nobler to use a Realtor(R)) - 06/08/07 06:19 AM
What about Zillow.com?  Should it be used to determine the value of any property?
 "I can do it myself" can cost you much more than you may have thought.
Here's a fresh comparison of Properties' Listed Prices, Sold Prices and Zillow's "Zestimate" for three different communities (Prices are rounded).  You can see that Zillow is simply not even close.  Whether you are trying to determine value to purchase a property or determine the value of you home in order to sell, using Zillow as the valuation tool will leave you without precision, and without more dollars in you pocket.
Zillow is an interesting novelty … (11 comments)

industry: Labor Stats Report - Likely Effect on Interest Rates - 06/06/07 10:16 AM
The Bureau of Labor Statistics reported today (June 6th) on Productivity, which was down about .7 (Business previously at 1.3, revised down to .0.5 and Non-Farm Business previously reported at 1.7 and revised down to 1.0) and the number of hours worked was down.  More troublesome though, were the BLS' revisions to previously reported unit labor costs which were up revised upward significantly (Business from 0.7 to 1.9 and Non-Farm Business from 0.6 to 1.8).  Although the productivity numbers for Manufacturing were only revised from 2.7 to 2.4, the unit labor costs shot up from 2.7 to 4.5.
As wall Street eschews … (0 comments)

industry: Celebrate Fairfax - Fairfax County Expo (June 8th - 10th, 2007) - 06/06/07 01:32 AM
Celebrate Fairfax Northern Virginia's largest community-wide celebration, Celebrate Fairfax!, arrives June 8-10, at the Fairfax County Government Center. This annual festival is filled with fascinating sights and sounds with more than 400 exhibitors, vendors, crafters, and interactive activities. Celebrate Fairfax! includes live concerts on six stages, a SciTech Center, a children's avenue, great food, the award winning County Expo program, and a nightly fireworks display. For more information, updates, and to buy advance tickets, please contact Celebrate Fairfax, Inc., 703-324-3247, TTY 711 or http://www.celebratefairfax.org/. 
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industry: Fed Chairman Speaks out on the Economy and Housing - 06/05/07 03:35 AM
At today's (June 5th) address to the 2007 International Monetary Conference, Cape Town, South Africa (via satellite) Ben Bernanke, Chairman of the Fereral Reserve Board noted:
"As you know, the downturn in the housing market has been sharp.  From their peaks in mid-2005, sales of existing homes have declined more than 10 percent, and sales of new homes have fallen by 30 percent.  A leveling-off of sales late last year hinted at a possible stabilization of housing demand; however, once one smoothes through the monthly volatility of the data, more-recent readings indicate that demand weakened further, on net, over the first four months … (1 comments)

industry: Factory Orders Up . . . but Not! (Inflationary Pressure?) - 06/04/07 08:22 AM
The Commerce Department reported today (June 4, 2007) that Factory Orders for manufactured goods were up 0.3% for April '07.  This report surprised industry analysts who were forecasting .7-.8% increases for non-durable goods, more than double the actual report.  This report also reflects a decrease from March '07 by 3.8% when factory orders showed a 4.1% increase.
It indicates that manufacturers are curtailing production output in order to bolster the "un-filled order" pipeline which now stands at a record $719-Billion.  This reflects an "un-filled order" increase of 1.8% for April (on an increase of new orders of only 0.8%), building on the 1.8% increase reported for … (0 comments)

industry: Virginia/DC/Maryland Average Home Price Headed for $14-Milllion by 2057 - 06/01/07 02:41 AM
No . . . it's not a misprint or a typo.  The average home is predicted to be worth $14-Million by 2057.  This is not some "nutty" crystal-balling, but actual analysis of future trends by the regions most learned experts and leaders.  From today's average home value of $477,000, they are predicting a nearly 3,000% increase in value over the next 50 years.
The recent Metropolitan Washington Council of Governments (COG) meeting addressed these prospects in plannig for the region's metoric growth. COG's subsequent press release reports:
"By the year 2057, the average home in metropolitan Washington is likely to cost more than $14 million, the … (3 comments)

industry: Virginia in "Top 25" for Home Price Appreciation in Q1-07 - 05/31/07 03:13 AM
Virginia is ranked in the "Top 25" for 1-Year Appreciation at 5.42%. 
The Office of Federal Housing Enterprise Oversight (OFHEO) reported today (May 31, 2007) that the rate of home price appreciation in the U.S. remained slow but positive in the first quarter of 2007. The OFHEO House Price Index (HPI), which is based on data from sales and refinance transactions, was 0.5 percent higher in the first quarter than in the fourth quarter of 2006. This is moderately below the revised growth estimate of 1.3 percent from the third to the fourth quarter of 2006. Prices in the first quarter of … (1 comments)

industry: Washington-Arlington-Alexandria Unemployment - Lowest In The State - 05/30/07 04:45 AM
The Labor Department's Bureau of Labor Statistics reported today (May 30th, 2007)on Nationwide improvements in the unemployment rate.  Our region ranks positively with the second  lowest unemployment rate in the nation out of 49 metropolitan areas of similar or larger size, and best rate in the State.
National unemployment rates were lower in April than a year earlier in 226 of the 369 metropolitan areas, higher in 120 areas, and unchanged in 23 areas, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Forty-six  metropolitan areas registered jobless rates below 3.0 percent, while four areas recorded rates of at … (0 comments)

 

Clay Kime

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Fairfax, VA

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