Stevie-Lynn Pickel and her fiancé, Adonis Smith, put money into a joint savings account whenever they can. The couple has a two-year plan: save up $35,000 for a down payment on a three-bedroom house, move out of the condominium they’re renting in Waterbury, Connecticut and then get married. “We want […]
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The rich get richer, new houses
U.S. housing starts plunged in February as record-low temperatures across the country forced builders to postpone groundbreakings. The weather combined with tight lending standards for homebuyers is likely to result in the sixth-straight year of mediocre, single-digit growth in new housing. Total housing starts fell to a seasonally adjusted rate […]
Housing starts down again in January
U.S. homebuilders started construction on fewer projects in January than in December, continuing a six-year, saw-tooth pattern of ups and downs in housing starts. January housing starts were at a seasonally adjusted annualized rate of 1.065 million units, 2 percent below the downwardly revised December estimate of 1.087 million. Economists […]
1-800-FLOWERS earnings preview
Analysts expect that one of the top purveyors of gifts, 1-800-FLOWERS (FLWS), will report modest but consistent growth in the first quarter of fiscal year 2014, a signal of what is to come for the company as the economy continues to improve. 1-800-FLOWERS is one of the world’s largest florist […]
US Economy Creates 162,000 – A Disappointment, But One That Won’t Alter Fed Tapering Timetable
The best way to characterize the July U.S. jobs report – a slight disappointment regarding jobs created – but one that neither furthers nor detracts from the market consensus that the Federal Reserve will begin to reduce stimulus in September. The world’s largest economy created 162,000 jobs in July, the […]
Housing prices in the US continue to rise
Housing prices continue their path to pre-crisis levels. With 12.2% the widely watched Case-Shiller home price index showed its biggest annual increase since March 2006. Compared to the previous month, the price for single-family homes in 20 major American cities rose in May by 2.4%. Overall the housing market continues […]
US economy adds 195,000 jobs in June – Great, but nothing to be thrilled about
The U.S. economy added more jobs than expected in June, as the nation continued to display signs of an improving, but still not robust job market. In June 195,000 jobs were created, the U.S. Department of Labor said Friday. Economists surveyed by Bloomberg News had expected the economy to […]
Strong job growth in June is nothing to get excited about
Source: Bureau of Labor Statistics Stronger than expected job growth in June plus higher revised numbers for April and May show the economy is on track but the road to recovery will be long and slow. The US added 195,000 new jobs in June, while the unemployment rate […]
Home Prices Fly High
Housing prices posted their largest monthly gain in more than five years in a sign of an accelerating market that could provide a key boost to the economy. The widely watched Case Shiller index rose 2.5% in April, the largest one-month gain in history. Prices are up 12.1% from a […]
Phoenix’s Hot Housing Market to Cool
By Jeffrey Bukhari and Elly Yu After taking one of the largest hits during the financial crisis, the housing market in Phoenix has rebounded markedly in the past year. As home prices have risen more than 11 percent nationally since March 2012, the Phoenix area has seen values jump more […]