November 2013 U.S. Economic Fundamentals
- Thread starter Ally
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Chinese investors choose U.S. over Canada
Canada ranked low on the lists of Chinese business investors in 2012, finds the Asia Pacific Foundation of Canada.
Its recent survey reveals only 6% of Chinese firms choose to invest in Canada, while 35% support the U.S. and 16% turn to Germany. Hong Kong and Japan also rank high on the list.
Read the full article here.
Canada ranked low on the lists of Chinese business investors in 2012, finds the Asia Pacific Foundation of Canada.
Its recent survey reveals only 6% of Chinese firms choose to invest in Canada, while 35% support the U.S. and 16% turn to Germany. Hong Kong and Japan also rank high on the list.
Read the full article here.
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Families blocked by investors from buying U.S. homes
Home purchases by institutional buyers reached a record high in September and all-cash buyers accounted for almost half of sales as investors responded to rising demand from renters.
Institutional purchases accounted for 14 percent of sales, according to a report today from RealtyTrac. That was the highest share since the real estate data firm began in 2011 to track transactions by that group, which it defines as buyers of 10 or more homes a year. All-cash sales rose to 49 percent from 40 percent in August and 30 percent a year earlier, a sign that rising mortgage rates since May have kept some people out of the market and that smaller investors are stepping up purchases.
Read the full article here.
Home purchases by institutional buyers reached a record high in September and all-cash buyers accounted for almost half of sales as investors responded to rising demand from renters.
Institutional purchases accounted for 14 percent of sales, according to a report today from RealtyTrac. That was the highest share since the real estate data firm began in 2011 to track transactions by that group, which it defines as buyers of 10 or more homes a year. All-cash sales rose to 49 percent from 40 percent in August and 30 percent a year earlier, a sign that rising mortgage rates since May have kept some people out of the market and that smaller investors are stepping up purchases.
Read the full article here.
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Buyers today want a house for the long haul
When Amy Lewis sits in her Lafayette, Calif., home, she can envision her three young daughters growing up there. She sees them forming lasting friendships with the neighborhood kids, graduating from the local schools, coming home for visits during college breaks.
It doesn`t stop there: The 43-year-old can also imagine grandchildren running around the halls.
Read the full article here.
When Amy Lewis sits in her Lafayette, Calif., home, she can envision her three young daughters growing up there. She sees them forming lasting friendships with the neighborhood kids, graduating from the local schools, coming home for visits during college breaks.
It doesn`t stop there: The 43-year-old can also imagine grandchildren running around the halls.
Read the full article here.
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5 cities where homes are no longer affordable
Home buyers can`t catch a break. Not only is it becoming harder to get a mortgage, but real estate prices have risen so much this year that buyers`much like during the housing bubble`can no longer afford the home in the first place.
Median-income households can afford a median-priced home in just eight of the 25 largest metropolitan areas in the U.S., according to data released today by Interest.com, which tracks consumer credit. That`s down from 14 of 25 a year ago. On a larger scale, the study found that it is harder to afford a home in all 25 metro areas. The findings support those of a similar study released earlier this month by Trulia, an online real estate marketplace, which found that home prices were increasingly falling out of reach for many middle-class buyers. In 14 of the top 100 metro areas, more than half of for-sale listings in early October were too expensive for these buyers.
Read the full article here.
Home buyers can`t catch a break. Not only is it becoming harder to get a mortgage, but real estate prices have risen so much this year that buyers`much like during the housing bubble`can no longer afford the home in the first place.
Median-income households can afford a median-priced home in just eight of the 25 largest metropolitan areas in the U.S., according to data released today by Interest.com, which tracks consumer credit. That`s down from 14 of 25 a year ago. On a larger scale, the study found that it is harder to afford a home in all 25 metro areas. The findings support those of a similar study released earlier this month by Trulia, an online real estate marketplace, which found that home prices were increasingly falling out of reach for many middle-class buyers. In 14 of the top 100 metro areas, more than half of for-sale listings in early October were too expensive for these buyers.
Read the full article here.
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U.S. job growth smashes expectations
WASHINGTON ` U.S. job growth unexpectedly accelerated in October as employers shrugged off a government shutdown, suggesting the budget standoff had a more limited impact on the economy than initially feared.
Employers added 204,000 new jobs to their payrolls last month, the Labor Department said on Friday. The unemployment rate, however rose to 7.3% from September`s nearly five-year low of 7.2%.
Read the full article here.
WASHINGTON ` U.S. job growth unexpectedly accelerated in October as employers shrugged off a government shutdown, suggesting the budget standoff had a more limited impact on the economy than initially feared.
Employers added 204,000 new jobs to their payrolls last month, the Labor Department said on Friday. The unemployment rate, however rose to 7.3% from September`s nearly five-year low of 7.2%.
Read the full article here.
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Canadian energy sector under pressure at U.S. rises to global oil leader
The U.S. oil boom will vault the country into first place among crude producers within two years, the International Energy Agency says, which will pose a stiff challenge for the Canadian energy industry as it faces rapidly declining American demand for imported oil.
`On the back of light, tight oil output, the United States is on the verge of becoming the world`s largest oil producer, and is well on its way of realizing the American dream of net energy self-sufficiency,` the Paris-based IEA said in its annual energy forecast, released Tuesday.
Read the full article here.
The U.S. oil boom will vault the country into first place among crude producers within two years, the International Energy Agency says, which will pose a stiff challenge for the Canadian energy industry as it faces rapidly declining American demand for imported oil.
`On the back of light, tight oil output, the United States is on the verge of becoming the world`s largest oil producer, and is well on its way of realizing the American dream of net energy self-sufficiency,` the Paris-based IEA said in its annual energy forecast, released Tuesday.
Read the full article here.
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Why Canadian companies are on a U.S. property buying spree
It`s not exactly the 11th province just yet, but Canadian companies have been gobbling up property in the United States like never before.
We are easily outpacing every other country in what is called net real estate investment in U.S. commercial property, even ahead of a combined Europe.
Read the full article here.
It`s not exactly the 11th province just yet, but Canadian companies have been gobbling up property in the United States like never before.
We are easily outpacing every other country in what is called net real estate investment in U.S. commercial property, even ahead of a combined Europe.
Read the full article here.
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Startling factory slowdown a bad sign for U.S. economy
NEW YORK/WASHINGTON`Factory activity declined in New York state this month, and employment in the sector failed to grow for the first time since June, signs that U.S. manufacturing may have lost a step.
A separate report on Friday showed prices for U.S. exports unexpectedly fell in October, the latest indication of global economic weakness.
Read the full article here.
NEW YORK/WASHINGTON`Factory activity declined in New York state this month, and employment in the sector failed to grow for the first time since June, signs that U.S. manufacturing may have lost a step.
A separate report on Friday showed prices for U.S. exports unexpectedly fell in October, the latest indication of global economic weakness.
Read the full article here.
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Canadian firms invade U.S. commercial property market
It`s not exactly the 11th province just yet, but Canadian companies have been gobbling up property in the United States like never before.
We are easily outpacing every other country in what is called net real estate investment in U.S. commercial property, even ahead of a combined Europe.
Read the full article here.
It`s not exactly the 11th province just yet, but Canadian companies have been gobbling up property in the United States like never before.
We are easily outpacing every other country in what is called net real estate investment in U.S. commercial property, even ahead of a combined Europe.
Read the full article here.
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Foreign investors take a liking to Seattle real estate
While names like Boeing, Microsoft, and Starbucks have helped Seattle build a global brand, the reality for commercial real estate investors has been that Seattle has largely remained a second-tier market for foreign investors. That situation has begun to change as new workers pour into the region and well-known tech giants like Amazon, Google and Facebook expand their operations here to tap local talent. Some 200 companies have moved in or set up operations in the region in the past year.
Now, as the local economy begins to demonstrate renewed strength, global investors are becoming a significant force and Seattle has emerged as one of the top real estate markets in the country, continuing a trend that had started before the recession hit. Foreign buyers are attracted by the region`s diversified economy, its growing high tech and life sciences industries, and its ability to attract young workers as a desirable place to live. This foreign investment is helping to boost real estate values and revive a once moribund office and residence construction market.
Read the full article here.
While names like Boeing, Microsoft, and Starbucks have helped Seattle build a global brand, the reality for commercial real estate investors has been that Seattle has largely remained a second-tier market for foreign investors. That situation has begun to change as new workers pour into the region and well-known tech giants like Amazon, Google and Facebook expand their operations here to tap local talent. Some 200 companies have moved in or set up operations in the region in the past year.
Now, as the local economy begins to demonstrate renewed strength, global investors are becoming a significant force and Seattle has emerged as one of the top real estate markets in the country, continuing a trend that had started before the recession hit. Foreign buyers are attracted by the region`s diversified economy, its growing high tech and life sciences industries, and its ability to attract young workers as a desirable place to live. This foreign investment is helping to boost real estate values and revive a once moribund office and residence construction market.
Read the full article here.
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10 worst states for mortgage fraud
Foreclosure scams are up 58 percent, according to the latest data from the LexisNexis 15th Annual Mortgage Fraud Report, and the state with the dubious distinction of being tops in mortgage fraud investigations has held its lead for five years running.
The worst 10 are based on total investigations in 2012 for mortgage frauds originating in any year. The worst five metro areas are based on investigations involving only mortgages originated last year. Because fraud is often discovered more than 12 months after it occurs, that calculation can show where fraud is trending.
Read the full article here.
Foreclosure scams are up 58 percent, according to the latest data from the LexisNexis 15th Annual Mortgage Fraud Report, and the state with the dubious distinction of being tops in mortgage fraud investigations has held its lead for five years running.
The worst 10 are based on total investigations in 2012 for mortgage frauds originating in any year. The worst five metro areas are based on investigations involving only mortgages originated last year. Because fraud is often discovered more than 12 months after it occurs, that calculation can show where fraud is trending.
Read the full article here.