All posts in Economy
The Sunbelt’s Comeback – Forbes
Joel Kotkin, Contributor
I cover demographic, social and economic trends around the world.
Dec. 22 2011 — 11:49 am
Along with the oft-pronounced, desperately wished for death of the suburbs, no demographic narrative thrills the mainstream news media more than the decline of the Sun Belt, the country’s southern rim extending from the Carolinas to California. Since the housing bubble collapse in 2007, commentators have heralded “the end of the Sun Belt boom.”
Yet this assertion is largely exaggerated, particularly since the big brass buckle in the middle of the Sun Belt, Texas, has thrived throughout the recession. California, of course, has done far worse, but its slow population growth and harsh regulatory environment align it more with the Northeast than with its sunny neighbors.
Looks like Verizon missed the memo …
Verizon will charge fee for paying bill
Shades of Bank of America or Netflix: Verizon’s new $2 fee for paying a bill with a credit card has customers fuming.
By Karen Datko on Thu, Dec 29, 2011 5:23 PM
Could Verizon Wireless be following the likes of airlines and big banks – nickel-and-diming customers with new fees for things that used to be free?
Starting Jan. 15, Verizon will charge customers at $2 fee if they pay their bill with a credit card online or over the phone. There are lots of ways to avoid the fee – and Verizon users should take advantage of them – but the backlash is already building.
Shadow inventory down 16% from a year ago
CoreLogic: 1.6M homes not yet on the market represent 5-month supply
By Inman News, Wednesday, December 21, 2011.
<img title=”Homes image via Shutterstock.com.” src=”http://www.inman.com/files/imagecache/article-photo/files/imagefield/shutterstock_60032393-shadow-inventory.jpg” alt=”Homes image via Shutterstock.com.” />Homes image via Shutterstock.com.
Lenders had a “shadow inventory” of 1.6 million distressed properties and repossessed homes they hadn’t yet put up for sale at the end of October, down 16 percent from a year ago, loan data and analytics provider CoreLogic reported today.
Six states account for half of the shadow inventory: Florida, California, Illinois, New York, Texas and New Jersey.
NAR overestimated real estate sales by 14%
November existing-home sales up 12% from year ago
By Matt Carter, Wednesday, December 21, 2011.
<img title=”Balloon houses image via Shutterstock.com.” src=”http://www.inman.com/files/imagecache/article-photo/files/imagefield/shutterstock_59837908.jpg” alt=”Balloon houses image via Shutterstock.com.” />Balloon houses image via Shutterstock.com.
The National Association of Realtors says it overestimated home sales by more than 14 percent since 2007 because an adjustment that the trade group makes to data it collects from multiple listing services to account for sales that take place outside of MLSs got out of whack over time.
Mortgage Fees Would Rise Under Payroll Tax Cut Deal
This is a post of a real estate article written by Lenn Harley.
SMOKE AND MIRRORS AGAIN ON CAPITOL HILL. Read more HERE.
If you’re a real estate agent, a real estate broker, a loan officer, a home buyer or a home owner,
YOU HAVE A TARGET ON YOUR BACK.
Congress has done it again. The government has targeted one group of Americans to benefit another. This is what Congress calls “paid for” when they design legislation to benefit one group of voters and sticks their hands in the pockets of another group to “pay for it”. In most cases of course, the group to benefit are expected to vote for the politician(s) who sponsor the legislation. In this case it’s an extension of the so called “payroll tax cut”. This is not a “payroll tax cut”. Never was and never will be. It is a clear reduction in the withholding for FICA contribution to fund Social Security benefit recipients. Of course, as usual, the benefit is immediate and the “pay” for it will be a charge to American home owners and buyer for the next ten years. Have we ever seen Congress buy any votes by cutting one single $Dollar of
Thinking about becoming a landlord? You should know this
JUPITER, Fla. – Dec. 6, 2011 – With real estate prices low, many people are considering buying an investment property and becoming a landlord.
It might sound simple, but real estate pros warn that there’s a lot to know. The landlord who doesn’t follow such basic guidelines as conducting a thorough background check can get stuck with a nightmare tenant. It takes both business sense and common sense.
“Most of my tenants, 98 percent, are terrific,” said Jupiter real estate broker and investor Carl Presto, who owns 60 properties. “The problem is that 2 percent.”
The down economy that has resulted in real estate bargains also means it’s more difficult to find a tenant who can afford to pay first and last month’s rent and a security deposit upfront. Landlords report they have to go through 30 to 40 applicants before finding a qualified tenant.
Landlords also find they are competing with foreclosed houses, which some people rent below market, forcing rents lower.
Paying Too much for Real Estate dues?
TAMPA BAY REALTORS® ARE YOU PAYING TOO MUCH FOR REAL ESTATE DUES?
Pasco—Central $ 75.00
Pasco—East $ 110.00
Pasco—West $ 170.00
Pinellas $ 168.00
Tampa $ 120.00
Find out more at www.CentralPascoRealtors.org
Take advantage of expiring tax deductions
Real Estate Tax Talk
By Stephen Fishman, Tuesday, November 22, 2011. Inman News™
There are several tax credits and deductions set to expire at the end of the year, and given the federal deficit problem, there’s a good chance they won’t be extended. If you want to take advantage of them, you need to act before Jan. 1, 2012.
Mortgage insurance premium deduction
If you itemize deductions, you may deduct the premiums you pay for mortgage insurance, just like you do mortgage interest. However, this deduction is phased out if your income exceeds certain levels. To qualify for the full deduction, a couple or a single taxpayer must have an adjusted gross income of $100,000 or less. The deduction is phased out completely if AGI exceeds $109,000.
11 Tips for Safe Online Shopping …
Billions of dollars will be spent online over the course of the next month, and, unfortunately, there are those that will be looking to steal some of it. Make sure you’re not a victim.
Managing Editor, Business eric_griffith@pcmag.com
Eric Griffith
Let’s face it, there’s every reason in the world to shop online. The bargains are there. The selection is mind-boggling. The shopping is secure. Shipping is fast. Even returns are pretty easy, with the right e-tailers. Shopping has never been easier or more convenient for consumers.
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