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  #1  
Old 03-13-2013, 03:03 PM
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Economic News, Like Weather Reports

US retail sales record healthy growth - FT.com

http://www.latimes.com/business/money/la-fi-mo-home-prices-20130313,0,1196980.story



Basically, Americans are buying stuff.


Last edited by MTI; 03-13-2013 at 03:54 PM.
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Old 03-13-2013, 06:12 PM
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"Partly cloudy in the morning, becoming partly sunny this afternoon."

Friday?s Surprisingly Strong Jobs Numbers Aren?t Real
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Old 03-13-2013, 06:15 PM
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Basically, Americans are buying Asian-made crap using money they don't have.

Here's hoping that sequestration starts to pinch in the next few months. Oh, and home price inflation in an already expensive market isn't a good thing -- it just prices the young out of that market. (Especially if demand is being driven by absentee investors.)

Then again, this isn't bad for me, since I have an offer on a short sale that's nearing approval in SD -- may be able to flip it out for about 1.3x the purchase price (after minor repairs) if I'm lucky. Put the money made from the flip into rental property closer to home, since the NJ/NYC market is beautifully flat thus far.

If not, then I'll just hold and rent it out.
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Old 03-13-2013, 06:37 PM
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Quote:
Originally Posted by spdrun View Post
Basically, Americans are buying Asian-made crap using money they don't have.

Here's hoping that sequestration starts to pinch in the next few months. Oh, and home price inflation in an already expensive market isn't a good thing -- it just prices the young out of that market. (Especially if demand is being driven by absentee investors.)

Then again, this isn't bad for me, since I have an offer on a short sale that's nearing approval in SD -- may be able to flip it out for about 1.3x the purchase price (after minor repairs) if I'm lucky. Put the money made from the flip into rental property closer to home, since the NJ/NYC market is beautifully flat thus far.

If not, then I'll just hold and rent it out.
"Absentee investors". Caught my eye too!
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Old 03-13-2013, 06:44 PM
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Originally Posted by dynalow View Post
"Absentee investors". Caught my eye too!
I may be one of them in a few weeks, at least technically -- I have strong personal ties to the SD area.
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Old 03-13-2013, 11:04 PM
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Hard to develop any really clear picture. If all growth sectors are just credit driven can be very misleading. Right now if you do not have a dime and tons of obligations. Yet still have a reasonable credit rating you can get a new car with nothing down and even deffered initial payments.

One issue is are people spending their future economic activity or flexiability now? Smaller copies of the governments practices? One should never forget that a large percentage of governments of many developed countries are stretched financially past the limits still.

Up here in Canada an even worse senario might be too many people borrowing money just to keep going with pretty well fixed costs. I suspected this when consumer credit demand started to really show steady incremental increases a few years ago and they are still at it.

Fortunatly just now credit demand is slowing a little although this may be temporary. Our minimum wage is a little over ten dollars an hour and a lot of people do not do that much better.

This amount was at least survival until the inflation of the last few years. You can no longer really live even locally on that income level. Except perhaps with your parents.Some people in the larger cities with their higher rents etc must be really getting squeezed.

I have been taking a wait and see approach for about a year or two now. Not dead in the water but somewhat more cautious perhaps than historically my approaches to risks are. Some of it is my age but not all of it. I will probably build one replacement commercial building this year as long as I am positive the internal activity will be worthwhile from a financial perspective. I am just starting the miserable applications for a demolition permit and a building permit as the weather is starting to break a little.

The major canadian banks are forcasting the price of real estate in Canada to remain flat at best for the next ten years. Remember though that Canada did not take the real estate market hit that occured south of us.

Last edited by barry12345; 03-13-2013 at 11:27 PM.
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Old 03-14-2013, 01:55 PM
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Jobless Claims Decline

The number of Americans filing new claims for unemployment benefits dropped for a third straight week last week, the latest indication the labor market recovery was gaining traction.

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Old 03-14-2013, 02:03 PM
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Currently there is 7.7% unemployment.

That means that 92.3% of the economy is still working
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Old 03-14-2013, 02:12 PM
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Jobless Claims Decline

The number of Americans filing new claims for unemployment benefits dropped for a third straight week last week, the latest indication the labor market recovery was gaining traction.

Here's hoping sequestration will fix this rotten trend. The more people lose their homes to bumemployment, the better for me.

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