Anna Spiewak
Economy Watch: Cypriot Bailout Still Uncertain; Americans Drove More in January; Hotel Industry Back to Normal
The Cypriot bailout is still up in the air. Meanwhile, back in the U.S. the Senate passed a budget bill. Travel during January on all roads was up nationwide by 0.5 percent, reflecting economic activity. And the hotel industry, so hard hit by the Great Recession, is very nearly back to a normal level of business.
Economy Watch: Existing Home Sales Up; ECB Gives Cypress a Deadline; Unemployment Claims Edge Up
Existing home sales were up in February. The European Central Bank issued a statement on Thursday essentially setting a deadline for Cyprus to take action of some kind on its bailout. And for the week ending March 16, initial unemployment claims were up by 2,000 from the previous week’s revised figure.
CCPT III Rejects ARCP’s Offer to Buy It
Cole Credit Property Trust III has rejected an offer by American Realty Capital Properties to buy it in a cash and stock deal worth up to at least $9 billion that would make the combined entity the largest publicly traded net lease sector REIT.
Advocating for Job Growth, Credit Expansion
By Marcelo Bermúdez, President, Figueroa Capital Group, subsidiary of Charles Dunn Co.: With no one caring about the fiscal cliff, home prices have been rebounding and the stock market is higher than ever.
Economy Watch: Homebuilding Sees Healthy Uptick; Fewer Homeowners Underwater; Cyprus Rejects Bailout Terms
New home sales are still on an upward trajectory, as housing starts were up 0.8 percent in February, compared to January. There is an improvement in the equity position of households. And the Cypriot parliament said “no thanks” to the EU bailout.
Economy Watch Weekly: Another Good Week for the Economy
CPE’s economic analyst, Dees Stribling, gives his update for the week ending March 15.
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