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January 23, 2012
Politicians need to be very clear about one thing: Americans don’t want anyone messing with the popular mortgage interest tax deduction, according to the National Association of Home Builders.
The tax break is favored by the real estate industry but is the bane of most economists who consider it a waste of money amid concern about the federal budget deficit.
There are detailed proposals to replace the mortgage interest deduction with a tax credit targeted to entry-level More...
December 30, 2011
Homeowners whose mortgage payments were changed under a program aimed at reducing foreclosures redefaulted at a slower rate after lenders gave more generous modifications, according to the U.S. Comptroller of the Currency.
In an article penned by John Gittelsohn on Businessweek.com, about 18 percent of modified loans were at least 90 days delinquent within a year in the third quarter, compared with 20 percent in the previous three months, according to the Comptroller’s Mortgage More...
November 28, 2011
The Bureau of Economic Analysis reported that its advance estimate place economic growth at a 2.5 percent annual rate during the third quarter, more than three times the pace of the first half of the year. The most important contribution to Gross Domestic Product was domestic aggregate demand, which rose 3.6 percent annualized, the second biggest quarterly gain in five years.
Some positive news also came from the latest retail sales report, which showed the fifth straight monthly More...
November 21, 2011
Bloomberg.com recently reported that the number of Americans filling applications for unemployment benefits fell to the lowest level in seven months. Viewed as a sign of economic recovery by some, jobless claims fell by 10,000 to 390,000 in the week ended November 5th, according to the Labor Department.
The number of people on unemployment benefit rolls decreased, while those getting extended payments rose. According to Bloomberg, waning dismissals pave the way for bigger gains in More...
Builders broke ground on more homes than forecast in October and construction permits climbed to the highest level since March 2010, according to Bloomberg.com. Some believe that this increase is a sign that housing may become less stagnant in the third year of economic recovery.
Starts decreased 0.3 percent to a 628,000 annual rate from September’s 630,000 pace that was slower than previously reported, according to the Commerce Department. The median estimate of economists More...
November 8, 2011
As the winter soltice approaches, afternoon dusk will play the early visitor. Daylight is officially shortened. Adjusting to the dark? The brilliance of less daylight, is discovering what we can do with darkness…light it up!
A quick drive around the micro neighborhoods of this late autumn/ early winter wonderland will lighten any life. Larimer Square is dazzling in a canopy of white lights that stretch the entire city block. Cherry Creek North is wired in tiny white lights along More...
October 17, 2011
Moe Veissi, president-elect of the National Association of Realtors (NAR),
recently outlined the association’s recommendations for housing finance reform before the House Financial Services Subcommittee on International Monetary Policy and Trade.
According to a story posted on www.realtor.org, owning a home has had long-standing government support in the U.S. because home ownership benefits individuals and families, strengthens communities, and is integral to the nation’s More...
October 13, 2011
McStain is getting ready to break ground on its first new single family home in the Curtis Park neighborhood this week! The project, located on the corner of 31st and Arapahoe directly across the street from Mestizo-Curtis Park, will include five Energy Star qualified homes, two different floorplans with 3 bedrooms, 3 baths, just over 2,000 square feet above ground, private backyards and 2 car detached garages. They will have timeless Victorian exteriors with vibrant colors yet all of the More...
October 10, 2011
The Labor Department’s latest job report showed hiring in an industry battered by job losses has gained some ground. According to USAToday, construction firms added 26,000 jobs nationally in September, trailing only health care, professional and business services.
Contractors added 53,000 jobs this year after losing about 150,000 last year and 2 million in the recession. Some construction industry observers said the latest gains could herald at lease a moderate turnaround next More...
October 3, 2011
Pending home sales slipped in August with a mixed regional performance, but are higher than a year ago, according to the National Association of Realtors (NAR). The Pending Homes Sales Index, a forward-looking indicator based on contract signings, declined 1.2 percent to 88.6 in August from 89.7 in July, but is 7.7 percent above August 2010 when it stood at 82.3. The data reflects contracts but not closings.
Lawrence Yun, NAR’s chief economist, said the decline reflects an More...
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