Economy Watch *DO NOT USE*
Economy Watch: Mortgage Woes Stuck in High Gear?
Some 9.38 percent of all U.S. single-family mortgage loans outstanding were delinquent at the end the first quarter of the year according to the latest report on that doleful subject by the Mortgage Bankers Association, released on Wednesday.
Economy Watch: Housing Starts Pick Up, Permits Go Down
Annualized single-family housing starts totaled 593,000, or 10.2 percent more than the revised March figure.
Economy Watch: More Mortgages Modified in April, Some Backslide
According to the U.S. Department of the Treasury on Monday, about 295,000 borrowers have been granted permanent mortgage modifications since the beginning of the Making Home Affordable Program.
Economy Watch: Consumers Open Their Wallets a Little More in April
At the forefront of the increase was a 6.9 percent upsurge in sales at building-material stores, such as DIY giant Home Deport and smaller chains of hardware stores, as consumers not only bought spring-related yard items but also replaced more durable equipment such as lawn mowers and big-ticket barbecue systems.
Economy Watch: New NW Florida Airport Spurs CRE Development
In a commercial real estate economy like this, finding spots of growth can be a little tricky, but they’re out there.
Economy Watch: Good News, Bad News for Retailers
Some good news: Whole Foods Market Inc. said that its fiscal second-quarter profit more than doubled compared with the same period in 2009, jumping from $27.3 million to $67.4 million.
Economy Watch: Home Prices Mostly Stable
According to the latest survey of home prices by the National Association of Realtors, released on Tuesday, 91 out of 152 U.S. metropolitan statistical areas recorded higher median existing single-family home prices compared with the first quarter of 2009; three MSAs were unchanged; and 58 metros experienced price declines.
Economy Watch: Another Positive Employment Index
Everyone’s U.S. employment index is looking up these days.
Economy Watch: General Growth Says No Thanks, Simon
Simon Property Group’s “best and final” offer apparently was just that, or at least just its final offer, since the prize–a portfolio of 200 or so malls under the General Growth Properties banner–didn’t go to Simon on Friday after GGP’s board said no thanks and the bankruptcy judge went along with that decision.
Economy Watch: The Wall Street Slide of 2010
It’s early May and the U.S. economy is budding like a spring field–real green shoots this time, it seems–and yet Wall Street decides its time to panic.