Salient to Investors: Demand for new U.S. homes rose more than forecast in May, the most since April 2010. The number of houses on the market held near a record low. Brian Jones at Societe Generale sees a gradual improvement but says we’ve miles to go before we get back to normal. Prices
READ MORE... →Salient to Investors: Demand for new U.S. homes rose more than forecast in May, the most since April 2010, while supply dropped to the lowest in more than six years. The median sales price increased 5.6 percent from the same month last year. Read the full article at http://www.bloomberg.com/news/2012-06-25/sales-of-new-homes-in-u-s-increased-to-two-year-high-in-may.html
READ MORE... →Salient to Investors: Housing industry is restrained the weakest employment gain in a year last month and limited access to credit. The median price of an existing home climbed to $182,600 in May, the highest since June 2010. Cash transactions accounted for about 28 percent, distressed sales 25 percent , investors for
READ MORE... →Salient to Investors: Economists expect sales of previously owned U.S. homes fell in May and reflect an uneven recovery. Existing-home sales reached a low of 3.39 million annual in July 2010 versus a peak of 7.25 million in September 2005. Foreclosure starts grew in May for the first time since January 2010. Michael Feder
READ MORE... →Salient to Investors: The purchase is valued in the hundreds of millions of dollars according to the application to the commission, and includes two resort hotels, two championship golf courses and club houses, more than 88,000 acres of land including a 600-acre residential development, a solar farm, parks and utilities. Lanai
READ MORE... →Salients Points: The residential real-estate market is weathering the U.S. economic slowdown. Single family starts rose at the highest rate this year, while apartment construction slumped. Building permits climbed to the highest level since September 2008 on lower prices and record-low mortgage rates. Overall starts in May declined 13 percent in the Midwest, 20 percent in
READ MORE... →Salient to Investors: Mexico last month passed China to become the US’s second-largest trade partner after Canada. Mexico is Texas’ No. 1 trade partner, and the ports of Laredo, El Paso and Houston rank among Mexico’s top five trading partners. One-third of the content of Mexico’s exports are made in the
READ MORE... →Salient to Investors: Florida ’s jobless rate has fallen more than in 42 counterparts in the past two years, the extra yield on its muni-bonds has dropped 25 percent this year over the average AAA security Peter DeGroot at JPMorgan Chase says the yield spread will narrow more amid declining unemployment and climbing home sales.
READ MORE... →Salient to Investors: Hedge funds and distressed debt funds are buying Greek mortgage bonds as mutual funds and banks have to sell because of credit downgrades, in a bet the bonds will rebound if Greece stays in the euro. JPMorgan said initially assigned top credits pay 22 percentage points more than benchmark rates, more
READ MORE... →The percent of men aged 25-34 living at home with parents has risen to near 20 percent in 2011 versus 14 percent in 2005. The percent of women aged 25-34 living with their parents rose to 1o percent in 2011 versus 8 percent in 2005. The unemployment rate for men 25-34 saw a
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