Clipmarks | Housing Clips

Why This Cycle Might Be Nasty

Fri, 05 Sep 2008 23:17:34 GMT

clipped by: Victoria Barret
clipper's remarks: Housing slump = economic slump = job losses = housing slump, take 2. Worst case scenario thinking, of course, but a risk.

Clip Source: online.wsj.com

Every 100,000 payroll jobs lost takes some $3 billion in disposable income away from consumers, estimates Thomas Lee, equity strategist at J.P. Morgan Securities. With 463,000 jobs gone so far this year, that amounts to nearly $14 billion annualized in lost purchasing power.

Tags: housing, job loss, employment

Words Palin didn't say...

Fri, 05 Sep 2008 20:38:36 GMT

clipped by: monstersmom

Clip Source: www.vanityfair.com

Twenty words not found in Sarah Palin’s convention speech (based on the prepared text):

Bush
Cheney
Republican
Wages
Mortgage
Housing
Poverty
Afghanistan
Bin Laden
Torture
Guantanamo
Veteran
Environment
Global
Warming
Health
Care
Abortion
Abstinence
Moose

The Relevance of Community Organizing

Fri, 05 Sep 2008 19:31:02 GMT

clipped by: sillysam

Clip Source: article.nationalreview.com

Obama spent three years in housing projects in Chicago and — according to his book, Dreams of My Father — even he couldn’t explain what he was doing. “When classmates in college asked me just what it was that a community organizer did, I couldn’t answer them directly,” Obama wrote. Indeed, who could say what a community organizer does? The Obama campaign sent out an e-mail after the fact: “With the nation watching, the Republicans mocked, dismissed, and actually laughed out loud at Americans who engage in community service and organizing.” That misses the point. Palin and Giuliani didn’t mock people who work for the betterment of their communities. They mocked Obama for embracing the vague title of “community organizer,” which might as well be the political equivalent of “I’m working on a screenplay.” It also doesn’t help that “organizer” is essentially a morally neutral term and to the extent it’s political it evokes shades of left-wing labor politics.

Pound and euro slide amid more housing gloom

Fri, 05 Sep 2008 16:09:41 GMT

clipped by: JICWyllie

Clip Source: business.timesonline.co.uk

"Our estimate is for 25 per cent to 35 per cent house-price falls from their height...resulting in up to 1.3 million households, or 18 per cent of mortgages by value, in negative equity under our recession scenario," said Bruno Paulson, senior analyst at Sanford Bernstein, the research house.

Mr Paulson said that house price falls would be "far worse" than in the last economic downturn in the 1990s and could have a huge negative knock-on effect for the UK's mortgage lenders.

Morgan Stanley estimated in April that house price falls of 15 per cent over the subsequent 24 months would put 1.2 million people into the red with their property values.

But if price falls of 25 per cent are sustained, that would put 2 million into negative equity, analysts at the investment bank said

Savills said today that its forecast that house prices will fall by 25 per cent over this year and next was looking like an increasingly safe bet.

Tags: economy, consumers, housing, i-prices, i-decrease, i-record

Jobless rate jumps to 5-year high of 6.1 percent

Fri, 05 Sep 2008 15:16:16 GMT

clipped by: ratilfar
clipper's remarks: Everything is fine, nothing to see here, move along.

Clip Source: www.huffingtonpost.com

WASHINGTON — The nation's unemployment rate zoomed to a five-year high of 6.1 percent in August as employers slashed 84,000 jobs, dramatic proof of the mounting damage a deeply troubled economy is inflicting on workers and businesses alike.

The Labor Department's report, released Friday, showed the increasing toll the housing, credit and financial crises are taking on the economy.

The jobless rate jumped to 6.1 percent in August, from 5.7 percent in July. And, employers cut payrolls for the eighth month in a row. Job losses in June and July turned out to be much deeper. The economy lost a whopping 100,000 jobs in June and another 60,000 in July, according to revised figures. Previously, the government reported job losses at 51,000 in each of those months.

U.S. stock prices slid in early trading Friday. The Dow Jones Industrial Average was down 70 points in the opening minutes of trading.

Tags: economy, jobs, unemployed, recession, trouble

USC Res capacity

Fri, 05 Sep 2008 06:26:37 GMT

clipped by: danielsharples12

Clip Source: en.wikipedia.org

Since campus academic enrollment exceeds the capacity of on-campus housing, the University is in the process of adding more resident halls, most of which will be suite-style. Some students as a result live in popular off-campus housing, including apartments at College Suites, RiverSide Estates/University Commons, The Wilshire House at Union Station, Whaley's Mill, Granby Mill, and Sterling University; houses in the Shandon, Rosewood, and Olympia areas of Columbia; and off-campus housing provided by Greek organizations.^[14]

killer wallaby

Fri, 05 Sep 2008 02:17:30 GMT

clipped by: zadoz
clipper's remarks: i don't think so

Clip Source: www.news.com.au

'Killer wallaby' fear after boy survives attack

RESIDENTS fear a mob of vicious wallabies hanging around a housing estate will kill a child, following a terrifying attack on a nine-year-old boy.

Concerned White Rock dad Alwyn "Bones" Bailey told the Cairns Post if he had not been there to fight off the 1m-tall wallaby on Saturday afternoon, he had no doubt his nine-year-old son Morgan would have been mauled to death.

"Its deadset serious. Someone should get a gun and shoot the buggers," Mr Bailey said.

"They're not just friendly, cute little wallabies any more they're killers."

An Environmental Protection Agency spokesman said attacks on humans by wild wallabies or kangaroos were extremely rare, but animals that were regularly fed could become conditioned to seeing people as a source of food then become frustrated and aggressive if they did not get it.

Read more on this story here.

Tags: wallabys

Fed's Yellen: Crisis "ongoing and perhaps deepening"

Thu, 04 Sep 2008 23:14:23 GMT

clipped by: pitim
clipper's remarks: Second, export growth alone contributed one-half of the total real GDP growth registered in the second quarter. This element has been an important source of strength in our economy for over a year, being buoyed by strong growth abroad and by the weakening of the dollar. However, as I discussed, in recent months the dollar has risen somewhat and economic growth in many of our industrialized trading partners has slowed or even turned negative, suggesting that we can no longer count on exports as an important source of strength.

Third, the problems in the housing markets, financial markets, and labor markets continue to be a drag on growth and employment. Fortunately, the recent fall in commodity prices should help to cushion some of this downward pressure on activity.
Overall, I anticipate that real GDP growth in the second half of this year will come in below the growth of potential output which implies that the unemployment rate will rise. On its own, this obviously is not good new

Clip Source: www.frbsf.org

Regrettably, the nation's economy has been in rough waters for over a year now. Last summer, a precipitous slide in house prices triggered a crisis in financial markets and a credit crunch that is making it hard for consumers and some firms to borrow. These developments are ongoing and perhaps deepening

Turning to the national economy, it was recently reported that growth in the second quarter came in at a fairly robust rate of 3¼ percent.

While one might be tempted to interpret the recent strong numbers as a sign that things are turning around, there are three important reasons to think that the strength will not hold up, and that economic performance will be decidedly subpar in the second half of the year. First, consumer spending in the second quarter came in at only a moderate rate, even though it was boosted by substantial tax rebates. But there are no plans in place to repeat those rebates, so by the fourth quarter, the economy will no longer benefit from that fiscal stimulus.

Ike and South Florida

Thu, 04 Sep 2008 23:10:28 GMT

clipped by: pitim

Clip Source: calculatedrisk.blogspot.com

Tropical Storm Hanna is threatening the Carolinas (and the eastern seaboard), but Hurricane Ike might be a more serious concern for Miami and South Florida. It's still early, and Ike could stay at sea - but this reminds me that the 1920s Florida housing bust had just begun when the Great Miami Hurricane of 1926 struck ... from Wikipedia:

The 1926 Miami Hurricane (or Great Miami Hurricane) was an intense hurricane that devastated Miami, Florida in September 1926. The storm also caused significant damage in the Florida Panhandle, the U.S. state of Alabama, and the Bahamas. The storm's enormous regional economic impact helped end the Florida land boom of the 1920s ...

Why cheaper oil signals trouble

Thu, 04 Sep 2008 18:24:44 GMT

clipped by: JICWyllie
clipper's remarks: Deflation will win over inflation.

But the "good news" will go on until just after the USA election. Then reality will begin to intrude its ugly head, again.

Clip Source: money.cnn.com

Food and energy prices are coming down in part because of a global growth slowdown that could also cool the red hot U.S. export sector - the major bright spot in an economy still struggling with a massive housing bust.

If prices keep sliding, year-over-year inflation numbers - after hitting a 17-year high last month - could soon look much healthier, reducing fears that the Federal Reserve may have to raise interest rates to stamp out rising inflation expectations.

If the growth party is over around the world, the U.S. export boom will quickly fizzle.

A pullback by some of its overseas customers offers the latest bit of unhappy news for the U.S. economy, which this year has continued to grow - if only tepidly - in large measure thanks to slowing imports and rising exports.

The halo effect from exports could already be wearing off.

second-quarter GDP data showed U.S. corporate profits from foreign sources dropped 15% from first-quarter levels, due to softer worldwide economic conditions.

Tags: economy, commodities, i-prices, i-decrease, i-consequences, i-deflation

The Problem Is Empire

Thu, 04 Sep 2008 03:23:23 GMT

clipped by: katsteevns
clipper's remarks: (cont.)I am campaigning for and voting for Barack Obama not because I agree with him on every foreign policy issue but because I think we need to unleash the energy of those who fight for justice and housing and healthcare and jobs and the environment here at home. The Obama movement is registering and mobilizing millions of new voters, young people, working class, people of color and poor. The mere fact of their being mobilized will create a pressure for new priorities on the economic home front against the present priorities of militarization abroad. The fact that Obama rose to his present position on the tide of antiwar sentiment forces Obama and the Congressional Democrats to pay greater attention to our needs at home or pay a political price. If he expands the quagmires in Afghanistan and Pakistan, we will have to oppose those wasteful wars as well.

Clip Source: www.commondreams.org

Published on Wednesday, September 3, 2008 by The Nation

The Problem Is Empire

by Tom Hayden

Our adversaries, who once favored monarchy and then white supremacy, have done a successful makeover and attempted to steal the banner of democracy. For example, they are exuberant about imposing democracy by force across the Middle East and to the borders of Russia, but they show no enthusiasm for the democratic process sweeping away the former dictatorships that our government backed in Latin America. Our government is opposed to democracy on our borders if those democracies reject our military bases, our special forces and our corporate dominance over their resources and services. Venezuela, Bolivia and, of course, Cuba are being targeted for isolation and subversion, while Colombia is the American spear in the Andes.

I am campaigning for and voting for Barack Obama not because I agree with him on every foreign policy issue

HiHats

Wed, 03 Sep 2008 23:26:12 GMT

clipped by: SNGP1172918

Clip Source: www.affordablequalitylighting.com

Rated

Height: 7 1/2"
Ceiling Opening: 6 1/2"

Bulb: 100W Max

- Housing is thermally protected fixture that may be installed in direct contact with ceiling insulation.
- Integral thermal protector guards against improper lamping.
-Junction box is provided with four 1/2" knockouts, one 3/4" knockout and four Romex knockouts with strain reliefs
- Captive bar hangers span 24" joists and can be repositioned 90°
- 7 1/2" height allows for use in 2 x 8 construction
- Housing adjusts 3/4" to accomodate various ceiling thickness
- U.L. listed for direct contact with insulation and Air Tight Rated.

Only $9.99 ea.
IN STOCK

This housing is ONLY Sold in quantities of 6
Example: 6, 12, 18, 24, etc.

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Recession in Britain in 2008

Tue, 02 Sep 2008 22:04:14 GMT

clipped by: greg_zorba
clipper's remarks: acting head
financial disruption
losses on housinh and construction finance,
come to a standstill

Clip Source: business.timesonline.co.uk

Jorgen Elmeskov, acting head of the economics department of the OECD

“The eventual depth and extent of financial disruption is still uncertain, however, with potential further losses on housing and construction finance being one source of concern,” he said.

Europe’s biggest economy, Germany, will come to a standstill in the third quarter and edge ahead just 0.1 per cent in the fourth, the OECD said.

The OECD is forecasting the UK economy to grow by just 1.2 per cent in 2008, well down on its earlier forecast of 1.8 per cent.

Tags: british english, recession, uk economy

Fall into recession

Tue, 02 Sep 2008 21:58:21 GMT

clipped by: greg_zorba

Clip Source: business.timesonline.co.uk

fall into recession

to shrink by 0.3 per cent

in the third quarter

the economy came to a standstill during the second quarter of 2008

uninterrupted economic growth in British history has ended, leaving the country on the brink of recession.

“The eventual depth and extent of financial disruption is still uncertain, however, with potential further losses on housing and construction finance being one source of concern,” he said.

Jorgen Elmeskov,

acting head of the economics department of the OECD

fall into recession

Tags: economics, britain, british english

FEMA's record falters further as Fay's victims wait for suitable housing

Tue, 02 Sep 2008 03:42:08 GMT

clipped by: ZenBonobo
clipper's remarks: To date all that has come from Washington is sympathetic words.

Clip Source: www.palmbeachpost.com

FEMA's record falters further as Fay's victims wait for suitable housing

Monday, September 01, 2008

Tropical Storm Fay was a "wake-up call" for many counties throughout Florida on how to deal with future storms and hurricanes. ("Pay for '75-year event' after what Fay dumped," Wednesday).

While the impact from Fay's historic flooding and hurricane-force winds is not yet fully realized, it is evident that large numbers of people will be displaced. One would think, following Florida's 2004 and 2005 deadly hurricane seasons and Hurricanes Katrina and Rita, that the Federal Emergency Management Agency would be prepared to provide for our nation's emergency housing needs. Unfortunately, it isn't, and FEMA has not shown that it is serious about addressing the problem.