U.S. Can’t Afford Not to Have a Second Stimulus Package
Jan 29, 2010 Object
Mark Zandi, chief economist at Moody’s Economy.com, and Rudolph Penner, a fellow at the Urban Institute and former Congressional Budget Office director, both said Friday that an additional stimulus package would be required to improve the U.S. economy and allow the nation to avoid a double-dip recession.
Continue reading U.S. Can’t Afford Not to Have a Second Stimulus Package
U.S. Can’t Afford Not to Have a Second Stimulus Package originally appeared on DailyFinance on Fri, 29 Jan 2010 14:30:00.
Filed Under: Economy, People, Taxes
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U.S. Can’t Afford Not to Have a Second Stimulus Package
Tags: audi, campaign-will, chief-economist, economy-com, fellow-at-the, filed-under, foreclosures, has-introduced, package, penner, police, super-bowl, superbowlads, urban
Finally, an end to the sharp drop in home values
Dec 9, 2009 Object
Filed under: Real Estate
Zillow, the real estate home price research company, says that the value of residential real estate ended its sickening drop in 2009. The firm’s chief economist writes, “Total home values in the United States fell $489 billion in the first 11 months of 2009. A large drop, to be sure, but it marks a significant improvement from 2008, when homes lost a total of $3.6 trillion in values.” Zillow says that residential real estate values actually rose in 48 of the 154 markets that it tracks.
The largest gains in home values were in Providence, Boston, and Denver. But markets including LA, Chicago, and NYC were still in trouble based on data from January through November. Zillow speculates that low mortgage rates and government assistance programs were helping real estate values.
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Finally, an end to the sharp drop in home values originally appeared on DailyFinance on Wed, 09 Dec 2009 05:00:00 EST. Please see our terms for use of feeds.
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Finally, an end to the sharp drop in home values
Tags: boston, chief-economist, estate-values-, mortgages, price-research, sharp, sickening-drop-, trouble-based, united
Home foreclosures move up-market as discounting pushes prices down
Oct 12, 2009 Object
Filed under: Economy, Investing
A greater number of foreclosures are hitting the high-end real estate markets in 2009 as price discounting continues to throw more and more properties underwater. It’s like a self-fulfilling prophecy: As some homeowners see their homes’ values drop below the balances due on their mortgages, they give up trying to save their homes.
Zillow’s chief economist, Stan Humphries, found that while high-end markets accounted for only 16 percent of foreclosures in 2006, by July 2009, 30 percent of foreclosures hit the top third of homes. “That means that top-tier homes make up almost twice the proportion of foreclosures as they did just three years ago,” Humphries wrote on his blog.
Continue reading Home foreclosures move up-market as discounting pushes prices down
Home foreclosures move up-market as discounting pushes prices down originally appeared on DailyFinance on Mon, 12 Oct 2009 10:30:00 EST. Please see our terms for use of feeds.
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Home foreclosures move up-market as discounting pushes prices down
Tags: balances, chief-economist, foreclosures, greater-number, home prices, mortgages, pushes-prices, seen-as-allies, some-homeowners, their-mortgages
Bubble alert: stocks so overpriced they’re at tech-mania levels, economist says
Filed under: Investing
Great news, everyone. Even the ever-bearish David Rosenberg, chief economist and strategist at Gluskin Sheff (and formerly of Merrill Lynch) is calling for a “V” shaped recovery.
Unfortunately, he’s not talking about the kind of “V” everyone wants: a snap back as equally sharp as the decline. Rather, Rosie’s talking about valuation, and that news is just dreadful.
Continue reading Bubble alert: stocks so overpriced they’re at tech-mania levels, economist says
Bubble alert: stocks so overpriced they’re at tech-mania levels, economist says originally appeared on DailyFinance on Sat, 10 Oct 2009 11:00:00 EST. Please see our terms for use of feeds.
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Bubble alert: stocks so overpriced they’re at tech-mania levels, economist says
Tags: about-the-kind, back-as-equally, chief-economist, even-the-ever, gluskin sheff associates, merrill-lynch-, stocks, techbubble
IMF says world economy is recovering
Aug 19, 2009 Object
Filed under: Economy
In a report released Wednesday, the International Monetary Fund forecast the global economic recovery has started. It also noted, however, that sustained improvement will require continued structural changes to correct global imbalances.
The IMF said that Asia must be re-oriented toward increased consumption, while the United States needs to move toward exports,. IMF Chief Economist Olivier Blanchard also cautioned that potential economic output may be lower than it was before the global financial crisis. “The turnaround will not be simple,” Blanchard wrote in the report. “The crisis has left deep scars, which will affect both supply and demand for many years to come.”
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IMF says world economy is recovering originally appeared on DailyFinance on Wed, 19 Aug 2009 12:30:00 EST. Please see our terms for use of feeds.
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IMF says world economy is recovering
Tags: also-cautioned, chief-economist, dan rather, don hewitt, global-economic, imf, jeffrey wigand, recovery-has, report, richard-nixon, turnaround-will, united, united-states
The King of Pop and the King: how an icon’s death boosts a local economy
Jul 7, 2009 Object
Filed under: People, Earnings, Media
It’s been less than two weeks since his death, and Michael Jackson already is becoming bigger than he was in life. The funeral for the King of Pop has reportedly pumped $4 million into Southern California, according to the Chicago Tribune, as fans cram into hotel rooms and restaurants that had been hurting in the slowdown.
Never mind that most of these visitors couldn’t secure tickets to Jackson’s services. “This is going to be a nice shot in the arm” for the region, says Jack Kyser, chief economist for the Los Angeles County Economic Development Corp.
Continue reading The King of Pop and the King: how an icon’s death boosts a local economy
The King of Pop and the King: how an icon’s death boosts a local economy originally appeared on DailyFinance on Tue, 07 Jul 2009 14:45:00 EST. Please see our terms for use of feeds.
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The King of Pop and the King: how an icon’s death boosts a local economy
Tags: a-nice-shot, barack obama, becoming-bigger, chicago-tribune, chief-economist, death-boosts, elvispresley, entry, japan, media, michael jackson, pornography, secure-tickets
Goldman Sachs: Morgan Stanley’s inflation report is greatly exaggerated
Jul 7, 2009 Object
Filed under: Economy, Investing
The inflation hawks never seem to give up. This time, though, a really big dove has overwhelmed a younger hawk.
Goldman Sachs (GS) is now arguing that as far as inflation goes, the U.S. Federal Reserve can take it easy, because there’s no problem ahead. Morgan Stanley (MS), on the other hand, sees an inflation risk if the Fed sticks to its quantitative easing policy for too long.
Dueling scenarios
Through fiscal and monetary policy, the United States has added a record $12.8 trillion in stimulus to the economy and financial system, much of it quantitative easing by the Fed. That level of capital injection has spooked Joachim Fels, co-chief global economist for Morgan Stanley.
Continue reading Goldman Sachs: Morgan Stanley’s inflation report is greatly exaggerated
Goldman Sachs: Morgan Stanley’s inflation report is greatly exaggerated originally appeared on DailyFinance on Tue, 07 Jul 2009 14:30:00 EST. Please see our terms for use of feeds.
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Goldman Sachs: Morgan Stanley’s inflation report is greatly exaggerated
Tags: a-nice-shot, becoming-bigger, chicago-tribune, chief-economist, death-boosts, greatly-exaggerated, in focus, inflation, inflation-hawks, michael jackson, united-states
