Hey bs, remember when I said I'd be surprised if FTR stayed below $6 for very long?
Of course you do since you trot that statement out every chance you get.
Well....the shares of FTR that I have received through dividend reinvestment over the past 2 1/2 years in the $4-$5 range are sure looking good right about now.
Its time in the market, not timing the market that counts.
Which, I suppose, is why 1-in-4 homeowners regrets their home buying decision.
One out of four homeowners admit they wouldn’t buy their home again if they had the chance, according to a recent survey by real estate brokerage Redfin.
The biggest factor contributing to homebuyers’ remorse appeared to be affordability. Nearly one-third of homeowners who reported a household income of less than $100,000 said they were unhappy with their decision. In contrast, just 14% of homeowners who earned more than $100,000 said they were unhappy, according to the survey.
Younger homeowners were also more likely to have regrets. About 28% of homeowners under 65 said they regretted buying their home, compared to 14% of senior homeowners. And one in five homeowners with kids still living at home said they regretted their home purchase as well.
Redfin’s findings come around the same time as new home sales have begun to lag in the U.S. Sales of single-family homes fell by 14.5% to an eight-month low in March, with just 384,000 units sold. Experts have blamed slow sales on bad weather, low home inventory, rising mortgage rates, and a rise in vacant homes (homes that are under repair or being rented). Whatever the case, one thing is certain — buyers today are at a distinct disadvantage when it comes to finding a home that meets every point on their checklist.
Well, 7,000,000 foreclosures and 9,100,000 seriously underwater homeowners for starts.
All the glitters is not gold.
If a foreclosure happens in the wilderness, does it make a sound? It seems like people have conveniently forgotten that since the housing crisis hit we have witnessed more than 7,000,000+ foreclosures. Do you think these people believe the Fed is almighty and can stop a speeding train or turn water into wine? Apparently some people forget that the Fed failed to prevent the tech bust or the housing bust in the first place. Now, the Fed is somehow the cult leader and the leader will not let housing values fall. The nation still has 9.1 million seriously underwater homeowners on top of the more than 7 million that have gone through foreclosure. It is abundantly clear that the mindless drivel of “buying is always a good decision” is just that. Investors are starting to pull back in expensive states because value is harder to find. I see the lemmings at open houses and you can see the drool at the side of their mouths hoping for a morsel of real estate. The Fed, for better or worse, has turned us all into speculators. Simply putting your money in a bank is a losing battle because inflation is eroding your buying power. Yet wages are not keeping up. What you have is people competing with investors, foreign money, and a market with low inventory and trying to guess the next move from the Fed. Yet the tech bust and housing crash (keep in mind these happened only since 2000) were major events not prevented by the Fed.
FOUNTAIN INN, SC (FOX Carolina) -
Caterpillar has announced it is closing its Fountain Inn facility, leaving 510 workers without a job.
A spokesperson for the company said they will ramp down production in the second quarter and cease operations by the end of 2014, leaving 380 full-time employees and 130 temporary workers without work.
The manufacturing company said the decision was made after reviewing their business' footprint in order to improve efficiency.
They will move their Fountain Inn operations to existing facilities, transitioning marine operations to Griffin, GA, and the mid-range engine assembly line to Seguin, TX.
"We recognize that this decision will be difficult for our employees," said Tana Utley, vice president with responsibility for the Large Power Systems Division at Caterpillar, in a media release. "We value and appreciate the work that our Fountain Inn employees have contributed and their dedication to producing quality products. However, after considering our options, we have concluded we must move forward with this decision for better asset utilization. Our goal is to improve efficiency across our engine manufacturing footprint, while providing the highest quality products for our customers. We are committed to the industries served by products from Fountain Inn, including Marine and Industrial, and we will maintain and grow that commitment under this improved manufacturing strategy."
No offense bs, but you only want to focus on a few things.
Tech 2.0 is imploding and there's a lot of money overseas.
When (bio)techs drop from the several hundred p/e and people get scared of what's happening out there in the big wide world, FTR is going to look like a pretty good place to park some money.
Amazon is at a 468 p/e for heavens sake.
China is going to flame out real soon.
All the while FTR is expanding their territory, upgrading their network, and introducing great new no-contract pricing.
Line run-off has often been cited as the major reason to not own FTR.
While I don't want to minimize this, as it is a huge problem with ALL Telco's, it should not be the only thing considered.
This is why the phrase "win backs" exist.
FTR has a new and simple pricing plan in place and they aim to win back their old customers, and steal some more from the cable companies.
As FTR grows it's national footprint, the opportunities to do just this also grow.
13 Of 20 Cities See Price Drops.
Only five cities saw their annual rates improve in February. After posting annual gains of over 20% for their twelfth consecutive month, Las Vegas and San Francisco both showed deceleration in their annual rates. San Diego narrowed the gap with a return of 19.9%. Washington D.C. recorded its eight consecutive improvement with an annual rate of 9.1%, its highest since May 2006.
Thirteen cities declined for the month of February. Cleveland and Tampa showed their largest declines of 1.6% and 0.7% since January 2012. Seattle improved from a decline of 0.8% in January to an increase of 0.6% in February. Denver posted a small decline and is less than one percent away from its peak set in September 2013. Dallas increased 0.2% and continues to reach new index highs. Detroit remains the only city below its January 2000 level.
What's worse, even Case Shiller itself appears to have given up on housing as the driver of the wealth effect: "Five years into the recovery from the recession, the economy will need to look to gains in consumer spending and business investment more than housing. Long overdue activity in residential construction would be welcome, but is certainly not assured."
So....is this a recipe for growth in the high end housing industry
The National Employment Law Project reports that that low wage industries employ 1.85 million MORE workers now than at the start of the recession while mid-and higher-wage industries employ 1.83 million LESS.
Low wage industries account for 44% of employment growth over the past four years but only 22% of job losses during the recession. As a result of this imbalance, the take home pay for households has fallen, averaging $51,000 in 2012, or 8% less than the average $55,000 in 2007, adjusted for inflation, according to the NELP.
"The average American continues to lose ground while the wealthiest ... continue to do phenomenally well," says The Daily Ticker's Aaron Task. "People are saying there's a problem not because that guy's getting rich but because (they're) falling behind."
Nice post prime....thanks.
For some reason your articles get cut off but I Googled the company and found this important fact.
The dry-bulk shipping market is recovering from the biggest glut in history, according to Clarkson Plc, the world’s largest shipbroker. The fleet has swelled 84 percent since 2008 while trade advanced 31 percent, according to Clarkson’s data.
The piece also lists two other large freight companies tha have recently gone under.
Sounds like this industry tore a page out of housing's playbook.
But, but, but...the population is growing and all those people have to live somewhere.
Mortgage lending declined to the lowest level in 14 years in the first quarter as homeowners pulled back sharply from refinancing and house hunters showed little appetite for new loans, the latest sign of how rising interest rates have dented the housing recovery.
Home sales getting crimped by more than the weather MarketWatch
[$$] U.S. New-Home Sales Plunge 14.5% in March The Wall Street Journal
Bye-Bye Refi Boom The Wall Street Journal
[$$] Big Banks Ramp Up Business Lending The Wall Street Journal
[$$] For U.S. Banks, Winter Chill Lingers The Wall Street Journal
Lenders originated $235 billion in mortgage loans during the January-March quarter, down 58% from the same period a year ago and down 23% from the fourth quarter of 2013, according to industry newsletter Inside Mortgage Finance.
Many of them in the U.S.
HOUSTON — Weatherford International has completed about half of a 6,600-job reduction in its worldwide workforce, the oil field services company said Thursday.
The company gave no locations for the completed or planned job reductions.
The Geneva-based firm is one of Houston’s largest employers with more than 3,800 workers in the area, according a Houston Chronicle survey published last year.
In Securities and Exchange Commission filings Thursday, the company said it had 67,000 employees at the end of 2013.
Now if that don't beat all.
Note- I didn't write this.
Could the twin blowhards, Captain and Tenille, actually be wrong?
WASHINGTON (Reuters) - Sales of new U.S. single-family homes tumbled to their lowest level in eight months in March, dashing hopes for a quick turnaround for a sector that fell into a soft patch last summer.
The Commerce Department said on Wednesday sales dropped 14.5 percent to a seasonally adjusted annual rate of 384,000 units. It was the second consecutive monthly decline and the biggest since July, which was also the last time sales were so slow.
Sales were down 13.3 percent from a year ago, marking the largest year-on-year decline since April 2011.
Economists, who had expected sales to increase, said the drop suggested some fundamental weakness in the market, although unusually cold weather had also dampened activity.
"The weak tone of this report is a bitter pill for those, including ourselves, who have been looking for signs of a spring thaw in the housing recovery," said Millan Mulraine, deputy chief economist at TD Securities in New York.
U.S. housing stocks took a beating on the dour report, with the S&P 500 Homebuilding Index ending down about 1.1 percent. An index of smaller builders closed about 4.0 percent lower.
Luxury home builder Toll Brothers fell 1.8 percent and DR Horton, the largest U.S. homebuilder, dropped 2.4 percent. The broad U.S. stock market ended marginally lower after six sessions of gains.
Housing is doing terribly, while Cap'n Crunch and Jeffy fiddle around.
WASHINGTON (Reuters) - Sales of new U.S. single-family homes tumbled to their lowest level in eight months in March, dealing a setback to the housing market recovery.
The Commerce Department said on Wednesday sales dropped 14.5 percent to a seasonally adjusted annual rate of 384,000 units, declining for a second consecutive month.
Economists polled by Reuters had forecast new home sales at a 450,000-unit pace last month.
Compared to March last year, sales were down 13.3 percent, the largest year-on-year decline since April 2011.
U.S. Treasuries extended gains on the report. The S&P 500 Homebuilding Index dropped 1.65 percent following the data, and an index of smaller builders tumbled 3.3 percent.
The housing market has been slammed by an unusually cold and snowy winter, higher mortgage interest rates and a shortage of properties that is limiting options for potential buyers.
House prices, whose increases have outstripped wage gains, are also weighing on the sector.
New home sales are counted at the signing of contracts. Last month's surprise decline could still reflect some of the impact from the cold weather. Sales plunged in the Midwest and the South. They also fell in the West, but rose in the Northeast.
Data on Tuesday showing a mild decline in home resales last month had offered hope the housing market could be stabilizing.
In another report on Wednesday, the Mortgage Bankers Association said applications for loans to purchase homes fell last week.