TEXAS (Builder) – Five Texas cities swept the top spots on Builder magazine’s list of “Healthiest Housing Markets for 2009.”
Houston ranked first, Austin second, Fort Worth third, San Antonio fourth and Dallas fifth.
Rounding out the top ten were Raleigh, N.C., Seattle, Indianapolis, Ind., Fayetteville, Ark., and Washington D.C.
To compile the list, Builder analyzed the top 75 housing markets in the country, ranking them based on population trends and job growth, perennial drivers of housing demand. They also looked at home prices and the number of building permits.
Monday, February 23, 2009
Saturday, February 14, 2009
TEXAS NATION'S TOP EXPORTER
AUSTIN (Dallas Business Journal) – Mere days after being named tops in job growth by bizjournals.com, Texas has been declared the nation’s top exporter by the U.S. Department of Commerce.
According to Governor Rick Perry’s office, Texas exports totaled $192.14 billion last year, about $23.92 billion more than the year before.
The top five recipients of those exports were Mexico, Canada, China, the Netherlands and Brazil.
This marks the seventh year in a row in which Texas has ranked first.
According to Governor Rick Perry’s office, Texas exports totaled $192.14 billion last year, about $23.92 billion more than the year before.
The top five recipients of those exports were Mexico, Canada, China, the Netherlands and Brazil.
This marks the seventh year in a row in which Texas has ranked first.
Friday, February 6, 2009
CBS Morning News: Number Of Homes Under Contract Rose More Than 6 Percent Last Month
02/04/2009
America's Realtors reported that the number of homes under contract rose more than 6 percent last month.
VIEW CLIP
CBS Morning News: Claire Leka
America's Realtors reported that the number of homes under contract rose more than 6 percent last month.
VIEW CLIP
CBS Morning News: Claire Leka
TARP recipients paid $114M to lobby lawmakers
Jacksonville Business Journal - by Tierney Plumb
Recipients of the $700 billion federal bailout package in the finance and auto sectors may view their contributions and lobbying as the smartest investments made in years, according to the Center for Responsive Politics.
More than half of the 300 companies helped by the federal government’s Troubled Asset Relief Program (TARP) have dished out $114.2 million for politicking, with $77 million spent on lobbying last year and $37 million spent on federal campaign contributions for the 2008 election.
Those political activities have, in part, yielded the companies $305.2 billion from TARP, or a massive return of 267,208 percent.
“Even in the best economic times, you won’t find an investment with a greater payoff than what these companies have been getting,” said Sheila Krumholz, the center’s executive director, in a statement.
The top three bailout recipients also spent big on campaigns and lobbying, according to the D.C.-based nonprofit.
Bank of America, combined with Merrill Lynch, spent $14.5 million and got $55 billion from the bailout. General Motors spent $15 million and got $10.4 billion, and American International Group spent $10.6 million and was paid out $40 billion.
Of all companies that have been helped by TARP, 25 paid lobbyists $76.7 million to represent them on Capitol Hill last year.
They spent the most during the third quarter of last year, dishing out $20.4 million on lobbying.
“Taxpayers hope their money is being allocated entirely on the merits, but with Congress controlling how much money the Treasury gets to hand out, it will be impossible to completely exclude politics from this process,” said Krumholz, in a statement.
Some of the top recipients of contributions from TARP beneficiaries are members of Congress who chair committees that regulate the financial sector and oversee how well the bailout program works.
In total, members of the Senate Committee on Banking, Housing and Urban Affairs, Senate Finance Committee and House Financial Services Committee received $5.2 million from TARP recipients in the 2007 to 2008 election cycle. President Barack Obama collected at least $4.3 million from employees at those companies for his campaign, said the center.
Recipients of the $700 billion federal bailout package in the finance and auto sectors may view their contributions and lobbying as the smartest investments made in years, according to the Center for Responsive Politics.
More than half of the 300 companies helped by the federal government’s Troubled Asset Relief Program (TARP) have dished out $114.2 million for politicking, with $77 million spent on lobbying last year and $37 million spent on federal campaign contributions for the 2008 election.
Those political activities have, in part, yielded the companies $305.2 billion from TARP, or a massive return of 267,208 percent.
“Even in the best economic times, you won’t find an investment with a greater payoff than what these companies have been getting,” said Sheila Krumholz, the center’s executive director, in a statement.
The top three bailout recipients also spent big on campaigns and lobbying, according to the D.C.-based nonprofit.
Bank of America, combined with Merrill Lynch, spent $14.5 million and got $55 billion from the bailout. General Motors spent $15 million and got $10.4 billion, and American International Group spent $10.6 million and was paid out $40 billion.
Of all companies that have been helped by TARP, 25 paid lobbyists $76.7 million to represent them on Capitol Hill last year.
They spent the most during the third quarter of last year, dishing out $20.4 million on lobbying.
“Taxpayers hope their money is being allocated entirely on the merits, but with Congress controlling how much money the Treasury gets to hand out, it will be impossible to completely exclude politics from this process,” said Krumholz, in a statement.
Some of the top recipients of contributions from TARP beneficiaries are members of Congress who chair committees that regulate the financial sector and oversee how well the bailout program works.
In total, members of the Senate Committee on Banking, Housing and Urban Affairs, Senate Finance Committee and House Financial Services Committee received $5.2 million from TARP recipients in the 2007 to 2008 election cycle. President Barack Obama collected at least $4.3 million from employees at those companies for his campaign, said the center.
Tuesday, January 27, 2009
TEXAS HOME PRICES AT LEAST RISK
WALNUT CREEK, CA (PMI Group) – Amidst a nation of MSAs hosting tumbling home prices, the Lone Star State’s own metropolitan areas have held tight to their home values, with only five of 26 MSAs seeing price declines in a 12-month period ending in September.
According to PMI Group’s Winter 2009 Risk Index, Dallas, Houston and San Antonio were the least likely large MSAs in the country during third quarter 2008 to experience lower home prices in the next two years. Each had a risk index of less than one.
Austin ranked as the 12th least likely metropolitan area to experience home price depreciation, with a 3.1 risk index, up from 2.3 in second quarter 2008.
Overall, Texas MSAs averaged a 2.8 percent increase in home prices between September 2007 and the same month in 2008.
Four of Texas’ MSAs claimed spots in PMI Group’s list of top ten annual house price appreciation rates. Sherman-Denison had an appreciation rate of 8.56; Victoria, 8.34; Odessa, 7.98; and College Station–Bryan, 6.71.
PMI’s U.S. Market Risk Index uses economic, housing and mortgage market factors (including home price appreciation, employment, affordability, excess housing supply, interest rates and foreclosure activity) to determine the probability of lower home prices in the future.
For the full study, including more rankings for Texas MSAs, see PMI Group’s Risk Index.
According to PMI Group’s Winter 2009 Risk Index, Dallas, Houston and San Antonio were the least likely large MSAs in the country during third quarter 2008 to experience lower home prices in the next two years. Each had a risk index of less than one.
Austin ranked as the 12th least likely metropolitan area to experience home price depreciation, with a 3.1 risk index, up from 2.3 in second quarter 2008.
Overall, Texas MSAs averaged a 2.8 percent increase in home prices between September 2007 and the same month in 2008.
Four of Texas’ MSAs claimed spots in PMI Group’s list of top ten annual house price appreciation rates. Sherman-Denison had an appreciation rate of 8.56; Victoria, 8.34; Odessa, 7.98; and College Station–Bryan, 6.71.
PMI’s U.S. Market Risk Index uses economic, housing and mortgage market factors (including home price appreciation, employment, affordability, excess housing supply, interest rates and foreclosure activity) to determine the probability of lower home prices in the future.
For the full study, including more rankings for Texas MSAs, see PMI Group’s Risk Index.
Monday, January 19, 2009
ECONOMIST PREDICTS STRONG TEXAS HOUSING MARKET IN 2009
BEAUMONT (Beaumont Enterprise) – Despite the negative news surrounding the real estate industry, now continues to be a great time to buy a home in Texas, said Dr. Mark Dotzour yesterday, speaking before the Beaumont Board of Realtors.
Dotzour, the chief economist for the Real Estate Center at Texas A&M University, said the states’s housing market should thrive in 2009 thanks to affordable housing and steady job growth.
However, he also told the group to expect a decline in new home construction this year, partly because more new homes could inflate the market, causing existing home values to decline.
Although the latest report from California-based foreclosure listing firm RealtyTrac showed an 81 percent increase in the number of homeowners facing foreclosure last year, Dotzour said he does not expect foreclosures to become an issue in Texas.
“Our home prices have been going up," he said, "and when your house is going up, you'd rather sell it then give it back to the bank."
Dotzour, the chief economist for the Real Estate Center at Texas A&M University, said the states’s housing market should thrive in 2009 thanks to affordable housing and steady job growth.
However, he also told the group to expect a decline in new home construction this year, partly because more new homes could inflate the market, causing existing home values to decline.
Although the latest report from California-based foreclosure listing firm RealtyTrac showed an 81 percent increase in the number of homeowners facing foreclosure last year, Dotzour said he does not expect foreclosures to become an issue in Texas.
“Our home prices have been going up," he said, "and when your house is going up, you'd rather sell it then give it back to the bank."
Friday, December 5, 2008
MORTGAGE APPLICATIONS MORE THAN DOUBLE
NEW YORK (CNNMoney.com) – Mortgage applications more than doubled last week as government bailouts led to sinking interest rates that made refinancing especially attractive, the Mortgage Bankers Association reported this week.
The Market Composite Index — the organization's measure of mortgage loan application volume — surged 112.1 percent on a seasonally adjusted basis from the week earlier.
On an unadjusted basis, the index increased 51.4 percent from the previous week, down 21.9 percent from a year earlier. Results included an adjustment to account for the Thanksgiving holiday.
Rates plummeted following the Fed's announcement that it would buy debt and mortgage-backed securities from mortgage finance companies Fannie Mae and Freddie Mac.
The Mortgage Bankers Association said 30-year fixed-rate mortgages fell to 5.47 percent this week, down from 5.99 percent last week.
Rates on 15-year fixed-rate mortgages fell to 5.13 percent from 5.78 percent.
The report's Refinance Index increased 203.3 percent to 3802.8 from the previous week, and the seasonally adjusted Purchase Index increased 37.4 percent.
The Market Composite Index — the organization's measure of mortgage loan application volume — surged 112.1 percent on a seasonally adjusted basis from the week earlier.
On an unadjusted basis, the index increased 51.4 percent from the previous week, down 21.9 percent from a year earlier. Results included an adjustment to account for the Thanksgiving holiday.
Rates plummeted following the Fed's announcement that it would buy debt and mortgage-backed securities from mortgage finance companies Fannie Mae and Freddie Mac.
The Mortgage Bankers Association said 30-year fixed-rate mortgages fell to 5.47 percent this week, down from 5.99 percent last week.
Rates on 15-year fixed-rate mortgages fell to 5.13 percent from 5.78 percent.
The report's Refinance Index increased 203.3 percent to 3802.8 from the previous week, and the seasonally adjusted Purchase Index increased 37.4 percent.
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