Downturn and Legacy of Bush Policies Drive Large Current Deficits Economic Recovery Measures, Financial Rescues Have Only Temporary Impact
By Kathy Ruffing and James R. Horney October 10, 2012 Some lawmakers, pundits, and others continue to say that President George W. Bush’s policies did not drive the projected federal deficits of the coming decade — that, instead, it was the policies of President Obama and Congress in 2009 and 2010. But, the fact remains: the economic downturn, President Bush’s tax cuts and the wars in Afghanista ...
16 Month Supply of Quality lots; that Means a Lot Shortage
Bloomberg interview of Brad Hunter. Houston lots also in shortage, paying $1,200 per front foot. Preview this video of Brad Hunter economist from Metro Study. He points out the vacancy rate is going down, an important leading indicator. We are going from under 750,000 to 890,000 starts next year and it would be much higher but for the lot shortage. We will get to over 1,000,000 in a couple of ...
Housing Starts are up in virtually all of the nation’s primary housing markets . Houston had the largest number of starts nation wide.
Posted in In The News, National Housing Market | Posted on 11-19-2012 | Written by Mike Castleman Sr. The audit, which was completed between October 1 and October 15, showed that the Annual Starts pace for single family detached homes increased in 38 of the 40 markets included in the study, when compared to the third quarter of 2011. One of the most important findings, according to Mike Castleman, ...
Consumer Sentiment in U.S. Increases More Than Forecast: Climbs to a Five Year High
By Elizabeth Dexheimer – Nov 9, 2012 3:14 PM CT, Bloomberg The Thomson Reuters/University of Michigan preliminary consumer sentiment index rose to 84.9, the fourth straight increase and the highest since July 2007, from 82.6 in October. Economists projected an initial reading of 82.9 for November, according to the median estimate of 71 economists surveyed by Bloomberg. Stocks climbed as the ...
Third Quarter GDP Looking Better, May Ding Fourth Quarter. Some economists forecasting that GDP increased more than a 3.0% rate in 3rd Qtr.
Wall Street Journal, Nov.11, 2012, By Eric Morath Initially viewed as another lackluster period, the third quarter could turn out to be among the most robust economic advances of the current recovery. After surprisingly positive reports on wholesalers’ inventories and the trade deficit this week, some economists are now forecasting that the gross domestic product increased at better than a 3.0% ra ...
An Obama Spending Spree? Hardly (CHART)
Obama’s policies, including the much-criticized stimulus package, have caused the slowest increase in federal spending of any president in almost 60 years, according to data compiled by the financial news service MarketWatch. A dominant theme of the national political discourse has been the crushing spending spree the U.S. has ostensibly embarked on during the Obama presidency. That argument, ign ...
Jobless Claims: Both continuing and new jobless claims continue the improvement seen since early 2009
Both continuing and new jobless claims continue the improvement seen since early 2009 Businesses appear to continue to preserve jobs as filings for initial unemployment insurance claims dropped for the third week in a row. Initial claims for the week ended November 3 dropped by 8,000 claims to 355,000. Note, however, that the data is preliminary and subject to revisions, generally upward, the fol ...
October Jobs Report: Hiring Increased More Than Predicted; Unemployment Down.1% But Under 8%
The October Jobs Report, almost delayed by Sandy, became new assurance that the Obama economy is continuing to rise steadily. After the election and the self-imposed Fiscal Cliff, the economic consolidation should result in consumers coming back and corporations loosening that pile of money to supply the pent up demand. Joe Watson, Just IN, the Economic News. By Tami Luhby@CNNMoney, Novem ...
Motor Vehicle Sales Hit a New Recovery High In September, at 14.9 Million Since March 2008
Market Consensus before announcement Sales of total light motor vehicles hit a new recovery high in September, at 14.9 million for the highest annual rate since March 2008. This was 2.9 percent above August. All categories showed monthly strength. Definition Unit sales of motor vehicles include domestic sales and foreign sales, otherwise referred to as imports. Domestics are sales of autos produce ...
Texas Growth Picks Up – Dallas Fed
Research Publications Regional Economic Update October 26, 2012 · Update in PDF Growth in the Texas economy picked up in the past six weeks. Job growth strengthened to a 3.1 percent annual rate in September, and the unemployment rate ticked down to 6.8 percent from 7.1 in August. Construction and housing indicators suggest that real estate activity remained strong in September. The energy sector ...
Volatile GDP Trend UP, Right Way
RIGHT WAY … Consumer spending grew at 2.0 percent. Business spending did not grow despite huge cash holdings and elevated corporate profits. The one strong positive, aside from defense spending, was spending related to housing. Residential investment spending grew solidly by 14.4 percent. Without defense and without housing, the economy would be on the edge of another fresh recession. Thank goodne ...
New Home Sales in September
On October 24, 2012, in Did You Know, Economic Updates, by Lawrence Yun, Chief Economist New home sales are up 5.7% this month and 27% for the year. New home sales, like existing home sales, continue to trend higher. Similarly, low inventory is pushing up prices. In September, new home sales were 389,000 (annualized rate after seasonal adjustment), which is a gain of 5.7 percent from one month ...
U.S. Satisfaction Up to 30%, Highest in Three Years
September 12, 2012 Wall Street Journal Majority of Democrats now satisfied by Jeffrey M. Jones PRINCETON, NJ — Thirty percent of Americans are satisfied with the way things are going in the United States. Although low in an absolute sense, the current satisfaction level is the highest Gallup has measured since August 2009 (36%). A year ago, satisfaction stood at 11%. Shortly before Barack Ob ...
New Home Sales Continue Improvement
RIGHT WAY … It is all going in the right direction. Eyes on Housing, NAHB September new home sales increased 5.7% to an annual rate of 389,000, the highest level since the home buyer tax credit expired in early 2010. The three-month moving average of new home sales has increased steadily for over a year as more housing markets begin to see rising home prices and improving consumer sentiment. The m ...
Housing Construction Accelerates
Housing starts and housing permits for September showed a surprisingly strong growth. Overall starts increased 15% to an annualized rate of 872,000, the highest since July 2008. The increase was nearly universal with single-family starts increasing 11% to 603,000, the highest since August 2008, and multifamily increasing 25% to 269,000, the highest since September 2008. Three census regions ...
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FROM THE EDITOR:
November 11 , 2012, Joe Watson, Editor: Just IN, The Economic News
ELECTION 2012 IS IN THE BOOKS. NOW, PLEASE, LET’S NOT JUMP OF A CLIFF: Congratulations President Obama and all the Democratic and Republican election winners. Guess what, that was the easy part. Governing is going to be the hard part.
First up, the Fiscal Cliff, or Fiscal slope as it might more appropriately be called. If you think this is not serious, please get the details by reading my post, “What Is The Fiscal Cliff? “OMG”, It Is Huge and Devastating?” The details will make a grown man cry. It is no wonder corporations have been sitting on piles of green all year. Can you imagine what stockholders and boards would do if management charged ahead with development plans and the grid lock gang hurrled us off the cliff into a deep recession! And, based on the on going rhetoric, there is no easy solution inspite of the fact that most folks say “don’t worry, be happy” things are going to be alright.
Under the menu tabs Politic and then Fiscal Cliff at the top we will keep track of articles on the Fiscal Cliff to make it easy to see the most current and salient thinking, but be prepared for either a timid partial solution or a fist class can kicking on December 31.
On a brighter note, the October 2012 Trendlines post we wrapped up the Leading Indicators which all were trending up. It is clear that the economy has a firm base, is moving forward notwithstanding the election jitters, the Fiscal Cliff, and predictable D.C. gridlock forth coming. Simply put, if Washington will just not figure out a was to mess in the mess kit, the economy will grow at 2% plus in 2013 and better in 2014.
Remember all you newly elected folks, compromise is a 10 letter word, not a four letter word. Give it a try.
s
Top National Stories
The Fiscal Cliff and Deficits
This article is here blogged not for the general content but for …
$2 Trillion in Deficit Savings Would Achieve Key Goal: Stabilizing the Debt Over the Next Decade
Nov. 1, 2012; Center on Budget and Policy Priorities
This is a must read …
GOP resistance to anti-tax pledge grows – CNN.com More and more, conservative Republicans in Congress are breaking from a pledge they signed years earlier against any kind of tax increase or additional tax revenue.
Washington (CNN)– Is it a slow leak that will grow into a cascade, or a …
Jones on Real Estate: Local Housing Prices and Other Considerations, Up and Up
Earlier today I wrote about the impressive 4.4 percent increase in median existing home prices (12-month moving average ending October …
October Jobs Report: Hiring Increased More Than Predicted; Unemployment Down.1% But Under 8%
The October Jobs Report, almost delayed by Sandy, became new assurance that the Obama economy …
Housing – The Good, Bad and Ugly
The Case-Shiller Index does a good job of reflecting the general direction that prices are heading for used …
Top Texas Stories
Home sales surge in October
Nov 21, 2012, Houston Real Estate Observer
The demand for Houston homes continued to surge in October, but this may …
Rental rates surge throughout Houston in October As Home Prices Rise
Published on November 8, 2012.
The News Staff
Houston Real Estate Observer
The price of Houston homes increased significantly so …
Texas’ oil and gas economy posts mixed results
Web Editor- San Antonio Business Journal James Aldridge
EmailCrude oil production in Texas may be on the rise, …
Houston’s unemployment rate now under 7%
Also, since last year, the Texas economy has added 272,400 private sector jobs,”
Houston’s unemployment rate dropped sharply to 6.3 …
Dallas Fed’s October 2012 Economic Indicators
The Texas economy continues to expand, with employment growing at a 3.5 percent annual rate in August. Texas
existing-home sales, …
The Houston Economy at a Glance
The the Greater Houston Partnership’s monthly report to get a concise understanding of where we are compared to a year ago.
Download the PDF report at http://www.houston.org/pdf/research/eag.pdfHouston …
Houston Economic Indicators Positive
In the last 12 months, building permits in the City of Houston are up 87.7%, total construction is up …
Texas income growth leads the nation
On a local level, Houston continues to have a one of the strongest economies in the state.
The national housing …
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