Now, even as inventory remains tight and home prices and demand for housing rise, many are headed elsewhere.
Dallas-based Dworkin is seeing the labor force head to South and West Texas as the energy boom has taken hold of the nation. He sees why. They make $10-15 an hour in construction in Dallas, but make $30-40 in the fields.
Over in North Carolina, Rick Judson, president of Evergreen Development Group and former NAHB chairman, also faced a labor shortage issue when we was working on two town homes with 24 units in Charlotte.
Judson had a painter finish the first townhouse, but by the time he was ready for the second one, the painter wanted a 25% pay raise because the demand in the market had driven up prices. He eventually found a new painter and gave him a 10% pay hike.
It is simply unaffordable:
The salary you must earn to buy a home in 25 cities: SF $115,510.06
Mortgage rate: 4.28 percent
Quarterly change: -0.40 percent
Home price: $682,410
Quarterly change: -3.20 percent
YOY change: +15 percent
Monthly payment: $2,695.23 (add reale state taxes, city/county fees, bond payments, utilities ... repairs etc)
Next least affordable : San Diego: $81,570.40
Los Angeles: $72,126.90
New York City: $66,167.27
Washington, D.C.: $62,809.63
Portland, Ore.: $45,872.78
Their approach paid off. WhatsApp amassed 450 million monthly users -- twice as many as Twitter Inc. -- who send billions of messages a day. Yesterday, Facebook Chief Executive Officer Mark Zuckerberg bought their five-year-old company in the largest Internet deal since Time Warner’s $124 billion merger with AOL in 2001, a deal that will almost certainly make Koum and Acton billionaires several times over.
For Koum, 38, the windfall would stand in stark contrast to his years as a teenager, when his family relied on food stamps after emigrating from Ukraine. The experience of living in a country where phone lines were often tapped, instilled the importance of privacy in him, said Jim Goetz, a partner with Sequoia Capital Ltd., WhatsApp’s lone venture capital investor.
H-P sales seen falling. H-P (HPQ) is due to report its FQ1 results after the bell, with analysts estimating that EPS rose to $0.85 from $0.82 a year earlier, while revenue slipped 4.1% to $27.19B as the company continued to struggle with sluggish corporate IT demand and the contracting PC market. "Despite some progress and stabilization, we continue to believe serious secular/competitive pressures in most of H-P's end markets are too difficult to overcome and remain concerned that the fiscal 2014 guidance...could prove optimistic," says ISI Group analyst Brian Marshall.
Chinese factory activity contracts at faster pace. China's flash manufacturing PMI has tumbled to a seven-month low of 48.3 in February from 49.5 in January and missed consensus of 49.4. The sub-indexes for output, new orders, new export orders and employment contracted. The fall in overall PMI adds to other data that provides a mixed picture for China's economy, although the latest figures may have been hampered by the Chinese New Year.
WhatsApp is an instant messaging service based in Santa Clara, Calif., that reached 400 million monthly users.
Facebook just bought the company for $19 billion.
According to The Telegraph, WhatsApp sends 20 billion messages per day — double the size of Facebook's daily messaging traffic, carried by Messenger.
The app was created in 2009 by former Yahoo! employees Brian Acton and Jan Koum. WhatsApp allows you to send text messages, audio, and video to others — as long as you subscribe. But as long as you have a strong internet connection, the app will never add additional roaming charges to your phone.
As I had hinted to Heinlein. Think Germany which he touted as the best country with the lowest unemployment in the West. Its labor participation rate is less than 60%, not 100% as you assumed.
fraunch, So what's that data set had to do with latest initial jobless claim?
If you inferred that NF workers had dropped out in Jan's BLS statistics, then you should consider the
Non-Adjusted - Jan 2013 - Jan 2014 133,074 135,396 = +2322k
The regional side of the U.S. airline industry has long been a fiercely competitive arena in which the big Airlines auction large sections of their flight schedules to the lowest bidder. That’s put pressure on wages: The starting salary for a first officer at a regional airline is a little more than $21,000 per year—about $40,000 lower than the same job at Delta (DAL) and United (UAL), according to the Air Line Pilots Association, the largest U.S. pilot union.
And the stingy pay, in turn, exacerbates the pilot shortage. Not only does it make pilot jobs less appealing, but the small salaries also combine with the more onerous federal training rules to put many new pilots deep in debt. Paying for the necessary hours of training flights before getting a first job can cost more than $100,000.
“There may be a shortage of qualified pilots who are willing to fly for U.S. airlines because of the industry’s recent history of instability, poor pay, and benefits,” ALPA President Lee Moak said last week in a statement that aimed to refute the “myth” of such a shortage. The union says that Emirates Airlines pays new first officers $82,000, “plus a housing allowance and other extraordinary benefits,” and that thousands of U.S. pilots on furlough and working abroad are “eager to return to U.S. airline cockpits—under the right conditions.”
billy, Barry told them in the SOTU powwow to pass a budget passed by the Senate. Obstructionists did. Barry said raise the debt ceiling without drama. Obstructionists did. Next is the immigration bill or job bill.
It was a Obama vote, not GOP:
The 28 Republicans who supported the bill were a coalition cobbled together from Republican leadership, moderates, and retiring members.
Ellison was a bright but inattentive student. He left the University of Illinois at Urbana-Champaign after his second year, after not taking his final exams because his adoptive mother had just died. After spending a summer in northern California, Ellison attended the University of Chicago for one term, where he first encountered computer design. In 1966, aged 22, he moved to northern California. (wikipedia)
Just a few years ago, inheritance tax was zero for all families including those with estates in the tens of $billions. The obstructionists called all inheritance tax death tax.
The House plans to vote Feb. 12 to increase the U.S. debt limit and restore cost-of-living raises for military retirees, said Representative Robert Pittenger of North Carolina.
The plan was announced in a closed-door meeting of House Republicans, Pittenger told reporters today in Washington. The debt limit would be raised until March 2015, said Republican Representative Joe Pitts of Pennsylvania.
The military retirees’ cost-of-living adjustments had been reduced in a December budget deal. Republicans would pay for the restored benefits by extending cuts in programs including Medicare for one year.
Another piece of data is more women are out of the work force to take care of their young children AND empty nesters no longer see a need for two incomes as their children are on their own, a case of many ex-hpers who took EER as yours truly over a decade ago.
I had been telling y'all this since Spring of 2009. Expect more hard evidence to come as 3 million boomers reach 67 this year and next and next and next ... :
In the two years ended 2013, 80 percent of the decrease in labor force participation was due to retirement, according to calculations by Shigeru Fujita, a senior economist at the Federal Reserve Bank of Philadelphia. And while the number of discouraged workers rose sharply during and after the recession, the group’s ranks have been roughly unchanged since 2011.
You clear on why Obama made the decision and what percentage of businesses are affected?
This one, also recounted by Larry Krauss, comes from the famous British physicist Ernest Rutherford, who told it to a great Danish physicist, Niels Bohr. It's about a person who goes into a pet shop to buy a parrot.
He is shown a very colorful bird and told that it speaks 10 different words and its price is $500.
Then he is shown a more colorful bird, with a vocabulary of 100 words, with a price of $5,000.
He then sees a scruffy beast in the corner and asks how much that bird is. He is told $100,000.
"Why?" he asks. "That bird is not very beautiful at all. How many words, then, does it speak?" None, he is told. Flabbergasted, he says to the clerk, "This bird here is beautiful, and speaks 10 words and is $500. That bird over there speaks 100 words and is $5,000. How can that scruffy little bird over there, who doesn't speak a single word, be worth $100,000?"
The clerk smiles and says, "That bird thinks."
amoulits, Agree ... one would think the collective pundits with their prestigious PhDs and super computers would have done a better job.