MBA Purchase Index falls 3.1%
Mortgage purchase applications fell 3.1% in the week ended April 10 as global bond markets sold off. We have just begun the spring selling season.
A friend and former neighbor of ours got caught up in the housing mania in 2005.
They sold in our development for $450ish and bought a $600K fixer upper on 3+ acres with a pool.
Then the rug was pulled out.
His complete remodel of the new place dragged on for years for time and money reasons. Their marriage suffered, and the wife moved out and filed for divorce a couple of years ago.
He finally finished the project and put it on the market for $580K last year.
The price has been cut several times and is currently listed for $4449K.
No takers at that price. He's becoming desperate to sell.
Their three children are grown and out of the house. He's there alone with his dog.
Should never have moved in the first place. They moved for all the wrong reasons. I remember many neighbors who felt they needed to move up with regard to housing and remember telling my wife that I sure hope they are all going to be OK with their decisions down the road.
So here we are seven years after the housing bust, and new home sale remain less than half of what they were before the bust.
Sigh....the builders became carpenters, the carpenters became handymen, and the handymen became fast food workers.
kinda like that guy on here who was touting the housing boom because he knew a builder with 3 contracts! that's what keeps me here....you can't find this kind of humor anywhere else!
CINCINNATI — Procter & Gamble will cut another 3,000 to 6,000 office jobs worldwide in the next two years, senior executives said Thursday.
An unknown number of cuts could occur here, where the company is headquartered and has only 90 manufacturing jobs.
Details of the additional job cuts came as chief financial officer Jon Moeller updated analysts and reporters after the company posted lackluster financial results for P&G's third quarter. P&G (PG) has been cutting thousands of jobs since February 2012 when it first announced it would slash 5,700 jobs or 10% of its nonmanufacturing jobs.
In the past three years, P&G has cut a total of nearly 11,000 office jobs and another 10,000 manufacturing jobs worldwide.
On Thursday, Moeller said P&G would end up cutting 25% to 30% of office jobs by mid-2017. The company already has cut 19% of those positions.
Blue Bell is near Toll's HQ near Philadelphia.
Unisys shares were down as much as 8 percent in early trading after the Blue Bell-based computer service company's chief executive, Peter Altabef, told investors sales were down 5 percent in the past three months, due largely to weaker foreign revenues as the U.S. dollar strengthened.
The company plans an 8 percent "worldwide" reduction in its workforce, which totalled 23,000 last year. Severance and restructuring will cost $300 million, resulting in $200 million in yearly savings, the company added.
You and Sage have to try one of the InNOut burgers at the event this Saturday - This is why McD's is falling... Habit Hut is another option. You pay $6.50 for the combo and it's way better than the old shoe sold at McD's/ if it was not for breakfast , MCD would be trading in the $40's
Darn, I hate when that happens.
According to real estate data firm RealtyTrac, the percentage of seriously underwater homes rose for the first time since the housing recovery began in earnest in 2012. RealtyTrac considers a seriously underwater home those where the owner owes more than 25% of the market value of the house.
The data underscores two big trends in real estate this year. One is that the housing recovery is losing steam, with CoreLogic data showing that home prices nationally rose just 5.6% year-over-year in February, after two years when home prices consistently showed double digit gains.
Second, it’s an indication that the real estate market is increasingly bifurcated into luxury markets and everything else. Macro trends like rising income inequality are creating increased demand for homes at the high end of the market and less demand for homes in less expensive neighborhoods.
All the usual bells and whistles...soft ice cream, In n Out burger truck, jump house, pony rides and 100 toaster ovens for the first 100 contracts. Look for primermeridian - he will be twirling a Tol sign out front.
Right prime. And that guy who's daughter with the MBA that just landed a six-figure job.... on her own I'm sure?
Mickey D's just axed 10,000 employees, and the Pollyanna's know of four (4) people who found jobs.
At least they were looking....unlike the 90 million who aren't. Google "U6 unemployment rate".
Ford Motor Co said on Thursday it will lay off about 700 workers at a Detroit-area plant making compact and compact hybrid cars, responding to a dip in demand for such vehicles amid lower gasoline prices.
Mullen Group slashed its employee head count by 1,000 — more than 13 per cent — in the first quarter to control costs in its oilfield services division as its producer customers deeply cut spending to deal with low commodity prices.
Volvo Trucks announced earlier this week it plans to eliminate 300 jobs at its Orange Township distribution center by the end of the year.
good thing the Cap'n hired those 3 guys!
McDonald's is closing hundreds of its worst performing ...
1 day ago - The company closed 220 restaurants during the quarter, mostly in the US and China. McDonald's Japan closed 130. Those closures were on ...
Weatherford increases job cuts again
Houston Business Journal
So far, the energy services giant has reduced headcount from 56,000 at the start of the year to 49,000 at the end of the first quarter. When all of the cuts ...
enter the subject line into your favorite search engine to find the entire article including charts (unless you're in a booming market like Boston, Dammit where everything is rosy all the time, then just leave sarcastic comments with no basis in reality and move along)
•The housing market bubble that burst in 2005 is still deflating.
•The bounce in prices and volume since 2010 was artificially created by the Fed/Government.
•Underlying data shows continued deterioration in housing market fundamentals.
The mainstream media in this country has been promoting the idea that the housing market is recovering for a few years. A perfect example of this is an article by Bloomberg News about a week ago titled, "This New Indicator Shows There's No Bubble Forming" (article link). The "indicator" is Nationwide Insurance's "Leading Index of Healthy Housing Markets." It was clear that Bloomberg did not research the validity of Nationwide's new housing market "indicator" before it published its article. But I did.
Although Nationwide offers no detail regarding the sources for the data it uses, the variables in its index are employment, demographics, the mortgage market and house prices. The fact that Nationwide does not disclose any details about its index other than the parameter labels makes the quality level of the metric highly suspect. My email inquiries about the index went unanswered and phone call messages were not returned.
The section of Nationwide's website that describes its housing market index contains a quarterly report that summarizes the company's assessment of the housing market across the country. The report is a pdf file that reads like a marketing brochure for the housing industry. I was curious to understand Nationwide's motive behind publishing this highly fatuous housing market report. As it turns out, Nationwide also owns a bank that offers mortgages, home equity loans and home equity lines of credit. I suspect that Nationwide is using thi
US Steel Warns Of Layoffs In Arkansas And Texas As Trans-Pacific Partnership Looms
don't worry....one of the MBA's working the counter at our local YMCA finally found a job starting at $60k! it's all good!!!!
International Business Times
U.S. Steel issued layoff notices to 1,404 workers in the latest sign of struggles for the American steel industry. The missives went out in recent days to ...