1. The presenter discussed the state of the US economy and housing market, noting growth is expected to increase to 2.7% in 2013.
2. Consumer confidence and spending are strong, supported by restored wealth and low debt levels. Business profits are high with low borrowing costs and available credit.
3. However, long-term budget problems threaten as the national debt rises unsustainably, projected to reach 186% of GDP by 2030 without reforms to curb deficits. Solutions are needed to shrink the deficit by 4% of GDP.
The pending home sales index decreased 18.6% in June compared to the same month last year and fell 2.6% compared to May. All major U.S. regions saw a decrease in pending home sales in June compared to the previous year, with the exception of the South which increased 13.3% year-over-year. Pending home sales provide information on home sales contracts but not closings, making it an indicator of future housing market conditions.
Summary of NOVEMBER 2010 Pending Home Sales StatisticsNAR Research
The November 2010 pending home sales statistics document contains the following key points:
1) The National Association of Realtors' pending home sales index decreased 5.0% in November 2010 compared to November 2009.
2) By region, pending home sales decreased the most in the West at 17.6% year-over-year, followed by the Midwest at 7.7% and the South at 7.2%.
3) Pending home sales increased 3.5% from October 2010 to November 2010 on a seasonally adjusted basis.
The unemployment rate was unchanged at 7.9% in October. Nonfarm payrolls increased by 171,000 jobs, with gains in professional services, healthcare, and retail. The number of long-term unemployed and those working part-time for economic reasons declined slightly.
- In Monroe County, new listings decreased 2.2% in October 2012 compared to October 2011, while closed sales increased 25% and median sales price rose 2.5% over the same period.
- For the year to date, new listings were up 7% compared to the same period in 2011, closed sales increased 14.1%, and median sales price grew 3.3%.
- The document provides monthly and year-to-date housing market statistics for Monroe County, Indiana.
The national economy is recovering but growth will remain weak. While the recession is over, unemployment will stay high for some time. Consumers remain cautious with high debt and weak confidence. The housing market is still declining with foreclosures and underwater mortgages remaining problems. The Arizona economy is also recovering slowly without strong population growth. Job growth has been flat and housing permits are still far below peak levels.
Economic indicators December 2012 - part 1SappiHouston
The document summarizes recent economic indicators from Europe, the US, Japan, and Germany. It reports that the GDP growth forecast for Europe in 2013 decreased slightly to 0.1%, while forecasts improved for the US and Japan. The German business climate index rose in December as companies were less pessimistic about the future despite viewing their current situation as somewhat worse. Unemployment in the EU remained high at 10.7% in January 2013.
The annual real estate report for 2012 shows that the real estate market recovery is gaining momentum nationally and locally after bottoming out in 2010-2011. The Allen Tate Company led home sales and listings in the Charlotte region in 2012, with a 10% increase in closed sales over competitors. Looking ahead, new construction is expected to double in 2013, and interest rates are projected to gradually rise as the economy improves.
- The housing market has improved significantly since 2011 due to high affordability, job growth, and low interest rates. Existing home sales are projected to increase in 2012 and 2013.
- Housing inventory remains tight, supporting further home price increases. However, foreclosures could increase in judicial states with slow housing processes.
- Multifamily construction has increased while single-family starts are still recovering from the housing bust. Overall construction is expected to rise to meet demand.
The pending home sales index decreased 18.6% in June compared to the same month last year and fell 2.6% compared to May. All major U.S. regions saw a decrease in pending home sales in June compared to the previous year, with the exception of the South which increased 13.3% year-over-year. Pending home sales provide information on home sales contracts but not closings, making it an indicator of future housing market conditions.
Summary of NOVEMBER 2010 Pending Home Sales StatisticsNAR Research
The November 2010 pending home sales statistics document contains the following key points:
1) The National Association of Realtors' pending home sales index decreased 5.0% in November 2010 compared to November 2009.
2) By region, pending home sales decreased the most in the West at 17.6% year-over-year, followed by the Midwest at 7.7% and the South at 7.2%.
3) Pending home sales increased 3.5% from October 2010 to November 2010 on a seasonally adjusted basis.
The unemployment rate was unchanged at 7.9% in October. Nonfarm payrolls increased by 171,000 jobs, with gains in professional services, healthcare, and retail. The number of long-term unemployed and those working part-time for economic reasons declined slightly.
- In Monroe County, new listings decreased 2.2% in October 2012 compared to October 2011, while closed sales increased 25% and median sales price rose 2.5% over the same period.
- For the year to date, new listings were up 7% compared to the same period in 2011, closed sales increased 14.1%, and median sales price grew 3.3%.
- The document provides monthly and year-to-date housing market statistics for Monroe County, Indiana.
The national economy is recovering but growth will remain weak. While the recession is over, unemployment will stay high for some time. Consumers remain cautious with high debt and weak confidence. The housing market is still declining with foreclosures and underwater mortgages remaining problems. The Arizona economy is also recovering slowly without strong population growth. Job growth has been flat and housing permits are still far below peak levels.
Economic indicators December 2012 - part 1SappiHouston
The document summarizes recent economic indicators from Europe, the US, Japan, and Germany. It reports that the GDP growth forecast for Europe in 2013 decreased slightly to 0.1%, while forecasts improved for the US and Japan. The German business climate index rose in December as companies were less pessimistic about the future despite viewing their current situation as somewhat worse. Unemployment in the EU remained high at 10.7% in January 2013.
The annual real estate report for 2012 shows that the real estate market recovery is gaining momentum nationally and locally after bottoming out in 2010-2011. The Allen Tate Company led home sales and listings in the Charlotte region in 2012, with a 10% increase in closed sales over competitors. Looking ahead, new construction is expected to double in 2013, and interest rates are projected to gradually rise as the economy improves.
- The housing market has improved significantly since 2011 due to high affordability, job growth, and low interest rates. Existing home sales are projected to increase in 2012 and 2013.
- Housing inventory remains tight, supporting further home price increases. However, foreclosures could increase in judicial states with slow housing processes.
- Multifamily construction has increased while single-family starts are still recovering from the housing bust. Overall construction is expected to rise to meet demand.
Dr. Lawrence Yun, chief economist and senior vice president of research for the National Association of REALTORS presentation at the Charleston Trident Association of REALTORS 2012 Midyear Residential Real Estate Market Update. Dr. Yun shares national and local (Charleston, SC) data recapping market activity through July 2012 and offers a forecast for the remainder of 2012 and beyond.
The document discusses Metropolitan Business Planning (MBP) as a new approach for transforming regional economies. MBP applies private sector business planning disciplines to regional economic development. It involves analyzing a region's economic performance and market position, developing a shared vision and strategies, specifying products/services to implement strategies, creating operational and financial plans, and monitoring performance. Several metropolitan regions are adopting MBP approaches, working across sectors to coordinate economic development.
The document presents conflicting economic data from various sources on the state of the US economy. It shows data that indicates rising GDP, jobs, manufacturing and retail sales alongside data pointing to high unemployment, falling housing starts and declining economic indexes. The intent is to show that different economic indicators can suggest contradictory things, similar to blind men describing different parts of an elephant. It urges readers to consider long term trends rather than single monthly data points when evaluating the economy.
This monthly newsletter from Swedbank's Economic Research Department discusses commodity price trends. It finds that Swedbank's Total Commodity Price Index rose 5.8% in December, accelerating commodity price gains in the last quarter of 2010. Energy and food prices posted the largest increases over the past six months. The newsletter expects commodity prices to continue rising in 2011, driven by stronger global demand and tighter supply, though the pace may slow from last year. Financial flows keeping liquidity high also contribute to rising commodity prices.
Pine Economic Calendar: High speed monetary policyBanco Pine
Industrial production in Brazil is estimated to have risen 0.5% in July, the second consecutive monthly rise. Annual industrial production is expected to fall 2.5% in July, an improvement from the 3.5% decline in June. Inflation as measured by the IPCA index is projected to rise 0.38% in August, slightly below the 0.43% rise in July. The central bank is expected to maintain its benchmark interest rate at 7.5% at its next meeting, having reduced it by 50 basis points at its prior meeting.
Summary of AUGUST 2010 Existing Home Sales StatisticsNAR Research
- Total existing home sales in August 2010 decreased 19.0% from August 2009, according to the National Association of Realtors.
- The median price of existing homes sold in August 2010 increased 0.8% compared to August 2009.
- Existing home sales decreased in all four regions of the US compared to August 2009, ranging from a 13.4% drop in the South to a 26.3% drop in the Midwest.
The presentation explains how the food and global financial crises impacted Pakistan's socio-economy. A detailed impact assessment is followed by the policy response taken in the various spheres of the economy.
The document provides an overview of housing and labor market trends, with a focus on national trends and trends specific to Nevada. It summarizes that while the national unemployment rate dipped below 9%, recovery in the labor market remains elusive. The Case-Shiller and FHFA home price indices show continued softness in the national housing market. Nationally, mortgage delinquencies dropped in 2010 but over 4.5 million homes remain in distress. Modifications under HAMP decreased and obtaining permanent modifications remains challenging for borrowers. Many states face severe budget shortfalls. In Nevada, the unemployment rate fell below 14% but remains the highest in the country, and house prices are falling to 2003 levels.
Economic indicators - Economic Monthly Overvies November 2012SappiHouston
The document summarizes recent economic indicators from Europe, the US, Japan, and Germany. It reports that GDP growth forecasts for the EU and Japan were revised downward for 2012 and 2013, while forecasts improved slightly for the US. The German economy remains resilient despite the euro crisis, while the outlook for the EU deteriorates. Unemployment in the EU continues to edge higher.
The document summarizes recent economic indicators from Europe, the US, and Japan in March 2013. In Europe, GDP growth forecasts were lowered slightly but industrial confidence and consumer confidence improved. Unemployment continued to rise in the Eurozone. In the US, GDP growth forecasts were also lowered and consumption slowed due to tax increases. In Japan, GDP growth forecasts remained stable and the economy appears to have stabilized.
The document provides an economic outlook for April 2013. It notes that the consensus GDP forecast for the euro area remained unchanged, while consumer confidence was stable and the IFO index for Germany edged down slightly. The US GDP forecast improved, and early indicators suggest firm housing starts. The Japanese GDP growth forecast also improved on expectations of aggressive monetary policy. Overall, the outlook suggests ongoing challenges for Europe with modest improvements expected in the US and Japan.
The document provides an overview of key economic indicators and performance of the Indian market from 2008 to 2012. It summarizes annual GDP growth, inflation, fiscal deficit, current account deficit, FII activity, and performance of the Sensex index relative to global peers. Selected companies are also analyzed over the 5-year period based on factors like revenue and profit growth, valuations, debt levels, and concerns.
U.S. Airlines: Their Nascent Recovery and the Benefits to the NationAdina Young
The US airline industry is climbing out of huge financial losses from 2001-2011 totalling $62.3 billion and has achieved modest profitability in recent years. However, airlines remain less profitable than other segments of the travel industry value chain. While operational performance is strong with high on-time arrival rates and low passenger complaint rates, the financial condition of most US airlines remains precarious, with only one currently holding investment-grade credit ratings. New regulations proposed for 2012 threaten to undermine the industry's nascent recovery.
The document discusses housing market trends in Southwest California. It notes that while sales this year will be lower than last year's record high, it will still be the second best year for home sales in the past decade. Median home prices have remained stable for the past three years across most cities in the region. The document also examines housing demand, inventory levels, and the breakdown of home sales by type (standard sales, bank owned, short sales) in November.
The document describes a cloud-based RFP management system called SpeedRFP for the group travel industry. SpeedRFP allows users to create and manage RFPs across multiple websites and channels in one centralized location. It provides benefits such as access to new buyers, improved quality RFP forms, and increased revenue. SpeedRFP currently has over 4,000 hotel users and 31,000 buyer members. The system is growing in adoption and provides benefits to both buyers and suppliers in the group travel industry.
This document summarizes a real estate market update and forecast seminar presented by Joshua Wilton of Weichert Realtors in Princeton, NJ in February 2013. The seminar reviewed historical housing market trends, the current state of the market, and forecasts for 2013. It analyzed inventory levels, sales, prices, affordability indexes, and other indicators to conclude that 2013 would be a better year for real estate than 2012 with modest price increases and rising sales due to low interest rates and improved affordability. Data on local and state housing permits and prices were also presented.
Chile is known for its political and economic stability. It has a well-functioning government, is highly integrated into the global economy through many trade agreements, and relies on commodity exports like copper. Chile has a stable and growing economy with low inflation and unemployment. Its GDP has grown steadily in recent years at over 9% annually. The stock market and currency have also strengthened significantly since the 2000s, reflecting Chile's strong economic performance. Major investment in mining projects is also expected in the coming years, presenting opportunities for suppliers to the mining industry. Overall, Chile provides a stable and prosperous environment for investment.
Summary of NOVEMBER 2010 Existing Home Sales StatisticsNAR Research
- Total existing home sales in November 2010 decreased 27.9% from November 2009.
- The median price of existing homes sold in November 2010 increased 0.4% compared to November 2009.
- Existing home inventory increased 46.2% nationally from November 2009 to November 2010.
Dr. Lawrence Yun, chief economist and senior vice president of research for the National Association of REALTORS presentation at the Charleston Trident Association of REALTORS 2012 Midyear Residential Real Estate Market Update. Dr. Yun shares national and local (Charleston, SC) data recapping market activity through July 2012 and offers a forecast for the remainder of 2012 and beyond.
The document discusses Metropolitan Business Planning (MBP) as a new approach for transforming regional economies. MBP applies private sector business planning disciplines to regional economic development. It involves analyzing a region's economic performance and market position, developing a shared vision and strategies, specifying products/services to implement strategies, creating operational and financial plans, and monitoring performance. Several metropolitan regions are adopting MBP approaches, working across sectors to coordinate economic development.
The document presents conflicting economic data from various sources on the state of the US economy. It shows data that indicates rising GDP, jobs, manufacturing and retail sales alongside data pointing to high unemployment, falling housing starts and declining economic indexes. The intent is to show that different economic indicators can suggest contradictory things, similar to blind men describing different parts of an elephant. It urges readers to consider long term trends rather than single monthly data points when evaluating the economy.
This monthly newsletter from Swedbank's Economic Research Department discusses commodity price trends. It finds that Swedbank's Total Commodity Price Index rose 5.8% in December, accelerating commodity price gains in the last quarter of 2010. Energy and food prices posted the largest increases over the past six months. The newsletter expects commodity prices to continue rising in 2011, driven by stronger global demand and tighter supply, though the pace may slow from last year. Financial flows keeping liquidity high also contribute to rising commodity prices.
Pine Economic Calendar: High speed monetary policyBanco Pine
Industrial production in Brazil is estimated to have risen 0.5% in July, the second consecutive monthly rise. Annual industrial production is expected to fall 2.5% in July, an improvement from the 3.5% decline in June. Inflation as measured by the IPCA index is projected to rise 0.38% in August, slightly below the 0.43% rise in July. The central bank is expected to maintain its benchmark interest rate at 7.5% at its next meeting, having reduced it by 50 basis points at its prior meeting.
Summary of AUGUST 2010 Existing Home Sales StatisticsNAR Research
- Total existing home sales in August 2010 decreased 19.0% from August 2009, according to the National Association of Realtors.
- The median price of existing homes sold in August 2010 increased 0.8% compared to August 2009.
- Existing home sales decreased in all four regions of the US compared to August 2009, ranging from a 13.4% drop in the South to a 26.3% drop in the Midwest.
The presentation explains how the food and global financial crises impacted Pakistan's socio-economy. A detailed impact assessment is followed by the policy response taken in the various spheres of the economy.
The document provides an overview of housing and labor market trends, with a focus on national trends and trends specific to Nevada. It summarizes that while the national unemployment rate dipped below 9%, recovery in the labor market remains elusive. The Case-Shiller and FHFA home price indices show continued softness in the national housing market. Nationally, mortgage delinquencies dropped in 2010 but over 4.5 million homes remain in distress. Modifications under HAMP decreased and obtaining permanent modifications remains challenging for borrowers. Many states face severe budget shortfalls. In Nevada, the unemployment rate fell below 14% but remains the highest in the country, and house prices are falling to 2003 levels.
Economic indicators - Economic Monthly Overvies November 2012SappiHouston
The document summarizes recent economic indicators from Europe, the US, Japan, and Germany. It reports that GDP growth forecasts for the EU and Japan were revised downward for 2012 and 2013, while forecasts improved slightly for the US. The German economy remains resilient despite the euro crisis, while the outlook for the EU deteriorates. Unemployment in the EU continues to edge higher.
The document summarizes recent economic indicators from Europe, the US, and Japan in March 2013. In Europe, GDP growth forecasts were lowered slightly but industrial confidence and consumer confidence improved. Unemployment continued to rise in the Eurozone. In the US, GDP growth forecasts were also lowered and consumption slowed due to tax increases. In Japan, GDP growth forecasts remained stable and the economy appears to have stabilized.
The document provides an economic outlook for April 2013. It notes that the consensus GDP forecast for the euro area remained unchanged, while consumer confidence was stable and the IFO index for Germany edged down slightly. The US GDP forecast improved, and early indicators suggest firm housing starts. The Japanese GDP growth forecast also improved on expectations of aggressive monetary policy. Overall, the outlook suggests ongoing challenges for Europe with modest improvements expected in the US and Japan.
The document provides an overview of key economic indicators and performance of the Indian market from 2008 to 2012. It summarizes annual GDP growth, inflation, fiscal deficit, current account deficit, FII activity, and performance of the Sensex index relative to global peers. Selected companies are also analyzed over the 5-year period based on factors like revenue and profit growth, valuations, debt levels, and concerns.
U.S. Airlines: Their Nascent Recovery and the Benefits to the NationAdina Young
The US airline industry is climbing out of huge financial losses from 2001-2011 totalling $62.3 billion and has achieved modest profitability in recent years. However, airlines remain less profitable than other segments of the travel industry value chain. While operational performance is strong with high on-time arrival rates and low passenger complaint rates, the financial condition of most US airlines remains precarious, with only one currently holding investment-grade credit ratings. New regulations proposed for 2012 threaten to undermine the industry's nascent recovery.
The document discusses housing market trends in Southwest California. It notes that while sales this year will be lower than last year's record high, it will still be the second best year for home sales in the past decade. Median home prices have remained stable for the past three years across most cities in the region. The document also examines housing demand, inventory levels, and the breakdown of home sales by type (standard sales, bank owned, short sales) in November.
The document describes a cloud-based RFP management system called SpeedRFP for the group travel industry. SpeedRFP allows users to create and manage RFPs across multiple websites and channels in one centralized location. It provides benefits such as access to new buyers, improved quality RFP forms, and increased revenue. SpeedRFP currently has over 4,000 hotel users and 31,000 buyer members. The system is growing in adoption and provides benefits to both buyers and suppliers in the group travel industry.
This document summarizes a real estate market update and forecast seminar presented by Joshua Wilton of Weichert Realtors in Princeton, NJ in February 2013. The seminar reviewed historical housing market trends, the current state of the market, and forecasts for 2013. It analyzed inventory levels, sales, prices, affordability indexes, and other indicators to conclude that 2013 would be a better year for real estate than 2012 with modest price increases and rising sales due to low interest rates and improved affordability. Data on local and state housing permits and prices were also presented.
Chile is known for its political and economic stability. It has a well-functioning government, is highly integrated into the global economy through many trade agreements, and relies on commodity exports like copper. Chile has a stable and growing economy with low inflation and unemployment. Its GDP has grown steadily in recent years at over 9% annually. The stock market and currency have also strengthened significantly since the 2000s, reflecting Chile's strong economic performance. Major investment in mining projects is also expected in the coming years, presenting opportunities for suppliers to the mining industry. Overall, Chile provides a stable and prosperous environment for investment.
Summary of NOVEMBER 2010 Existing Home Sales StatisticsNAR Research
- Total existing home sales in November 2010 decreased 27.9% from November 2009.
- The median price of existing homes sold in November 2010 increased 0.4% compared to November 2009.
- Existing home inventory increased 46.2% nationally from November 2009 to November 2010.
O documento discute os impactos dos efluentes domésticos e industriais nos recursos hídricos e formas de tratamento. Apresenta a caracterização dos efluentes, os principais impactos ambientais como a eutrofização e contaminação, e aborda processos de tratamento físico, biológico e químico para reduzir a poluição da água.
The document discusses how marketing is changing in today's connected economy. It highlights several trends like social selling, mobility, big data analytics, and video that are shaping new marketing strategies. Marketers are encouraged to leverage these trends like social media, blogs, mobile, and engaging content like infographics and video to better connect with today's new decision makers and buyers who are digital natives that expect engaging, mobile-friendly content.
Matt Evans engaged my services and paid promptly and substantially. He says, "Putcha provides very detail work with viewpoints that are supported by solid research."
I do it for all my students and clients but only a few appreciate and take full advantage.
Resale open Shankra Residency Flats in Omaxe City Jaipur @ 7503367689sahilkharkara
This document provides information about Shankra Residency, a premium apartment complex that aims to provide residents with a little more luxury, comfort, and life. It includes floor plans and specifications for 2 BHK and 3 BHK apartments, as well as amenities like swimming pools, gardens, and covered parking. The development promises a perfect design with RCC construction, quality finishes, and 24/7 security and utilities.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive function. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
This document discusses features and forms of presidential and parliamentary governments. Presidential systems have a directly elected president with fixed terms, while parliamentary systems have the governing party or coalition emerge from the legislature. Majority governments can pass legislation easily but coalition governments require negotiation between multiple parties. Coalitions can provide more representation but also instability. Key factors in stability include election rules, investiture votes, and constructive votes of no confidence.
This document discusses different types of drugs and their effects on the body. It describes cannabis and its three main types - cannabis sativa, cannabis indica, and cannabis ruderalis. It also outlines several categories of drugs like hallucinogens, depressants, ecstasy, and heroin, and provides brief examples of their short-term effects. The document warns that drugs can cause problems with concentration, memory, coordination, hormone levels, and in severe cases, death or coma.
Secret first developed deodorant products in the 1950s and became the top-selling female deodorant brand by 1980. Now, Secret plans to reposition itself by introducing new male scents and packaging to expand into the male deodorant market. Secret will endorse celebrities in advertising campaigns promoting the new male products and focus on digital and social media to reach more customers. The goal is to increase Secret's total market share by appealing to both female and male users.
- Inflation is expected to rise to 4-6% by 2015, above the Fed's target rate of 2%, due to rising rents and homeowner costs. However, inflation will likely not reach double digits as in the 1970s.
- Home prices are forecast to increase by 15% cumulatively over the next three years as demand increases and supply remains tight.
- The federal budget deficit will contribute to higher borrowing costs and potentially higher inflation if not addressed.
- Inflation is expected to rise to 4-6% by 2015, above the Fed's target rate of 2%, due to higher rents, wages, and government spending contributing to rising prices.
- Home prices are forecasted to increase 5-7% in 2013 with cumulative growth of 15% over the next 3 years, supported by increasing demand and decreasing supply.
- The federal budget deficit is large and continuing, which will require higher borrowing costs and could further fuel inflation if not addressed.
This document provides an overview and forecast of the 2012 California housing market from the Chief Economist at Leslie Appleton-Young. It summarizes that the US and California economies faced challenges in 2011 including oil price spikes, sovereign debt crisis, and political changes that contributed to stock market volatility and consumer spending weakness. Unemployment remains high in California and the US. Job growth was flat in August and California job growth is faltering, with the largest job losses in construction and financial activities. The forecast anticipates continued challenges for the 2012 California housing market.
Residential Economic Issues & Trends Forum 2013Nar Res
This document summarizes Lawrence Yun's presentation at the 2013 NAR Annual Conference on the housing market and economic outlook. Yun discusses recent trends in existing home sales, median home prices, household income, housing affordability, mortgage rates, refinances, all-cash buyers, housing inventory levels, and forecasts that:
1) Home prices will continue rising 15% cumulatively over the next 3 years, though the rate of growth depends on increases in housing starts.
2) Inflation will rise to 4-6% by 2015, higher than the Fed's 2% target rate.
3) Mortgage rates will rise to 5% in the next year, further impacting affordability.
Commercial Real Estate and Economic OutlookNar Res
This document discusses the current state of the U.S. economy and commercial real estate market based on a presentation given by Lawrence Yun of the National Association of Realtors. Some key points made are:
- The U.S. economy has now seen 11 straight quarters of GDP growth and has added over 4 million jobs since the recession, though consumer confidence remains subpar.
- Commercial real estate investment and construction have remained tepid compared to previous recoveries, with construction put in place well below pre-recession levels.
- Overall the recovery has been supported by rising personal income, consumer spending, and stock market gains, but government spending has declined from stimulus programs.
Summary of Existing Home Sales for July 2010NAR Research
- Total existing home sales in July 2010 decreased 25.5% from July 2009, while the median home price increased 0.7% year-over-year.
- Housing supply increased significantly compared to the previous year, with a 31.6% rise nationally and a 40% jump in single-family homes.
- All four major regions saw annual sales decreases ranging from 19.8% in the South to 33.3% in the Midwest.
The document discusses the potential impacts of new mortgage regulations on the housing market. It suggests regulations under Dodd-Frank and Basel III could reduce the number of mortgage loans by up to 20%, leading to 600,000 fewer home sales. Tougher qualified mortgage rules may make it harder for some borrowers to get loans or cause them to pay higher rates. Overall, the regulations aim to strengthen the financial system but could constrain the housing recovery in the short-term.
The document discusses the potential impacts of new mortgage regulations on the housing market. It suggests that regulations from Dodd-Frank and Basel III could reduce the number of mortgage loans by up to 20%, leading to 600,000 fewer home sales. Borrowers who do not meet the criteria for a qualified residential mortgage may have difficulty obtaining loans or pay higher interest rates. Overall, the new rules aim to make the mortgage market safer but may also constrain credit availability and drive up costs for some borrowers.
The document summarizes the outlook for the US economy in 2015. It states that GDP growth will be moderate at 2.8% in 2014 and 3.4% in 2015, while the housing market will see a continued shift from owning to renting. The labor market is strong with jobs growth of 275,000 per month and an unemployment rate of 5.6%, lower than expected. Consumer spending is expected to increase to 3.0% in 2015 due to high consumer confidence from gains in stock prices, home values, and net worth, coupled with low debt levels.
The document presents various graphs about India's increasing debt burden. It shows GDP growth but also rising fiscal and revenue deficits as a percentage of GDP. Plans expenditures are decreasing as a share of total expenditures. Revenue expenditures are growing while capital expenditures are shrinking. Borrowings and other liabilities have also steadily increased in recent years.
The document summarizes the Manhattan office market in Q4 2012. It notes that 2012 saw sluggish leasing activity and a 25% drop in total leasing from 2011, largely due to economic uncertainty. While large transactions disappeared, fundamentals like the unemployment rate improved modestly. The forecast predicts continued modest declines in vacancy rates and rent increases in 2013, but smaller deals and slower job growth, especially in finance.
The presentation provided an overview of the executive aviation market and discussed forward-looking projections. It summarized key economic indicators like world GDP growth rates, U.S. corporate profits, and stock market returns. Charts showed growth in business jet traffic in the United States and Europe in 2010. Data on the used aircraft market indicated a net decrease in aircraft available for sale so far in 2010 compared to inventory increases in prior years.
This document summarizes the China PC market outlook for 2010 from a research report published in May 2010 by IDC. Some key points:
- PC shipments in China are expected to reach 2 billion units by 2010, signifying the arrival of the digital era in China. Notebook PC shipments are forecasted to reach 51% of the total China PC market in 2010.
- The Chinese economy is expected to continue strong growth in 2010, with GDP growth projected between 9.5-11%. However, rising commodity prices may lead to higher inflation.
- Within the IT industry, the consumer market is expected to continue driving growth, while the enterprise market remains steady. The notebook and mobile computing segments are seen
Us economic outlook micky levy, chief economist - bank of america 25 januar...Jessica Roch
The document summarizes US and global economic trends in 2012. It finds that while emerging markets will grow significantly, growth in advanced nations like Europe and Japan will be slower. In the US, moderate growth is expected to continue with high unemployment gradually improving. Business investment and exports remain strong, but consumer spending and housing are in the early stages of recovery. International trade is rising moderately amid a challenging global environment.
1. The US economy is gradually gaining momentum in 2014, with GDP growth expected to accelerate to 3.3%.
2. All economic indicators are positive - the stock market is at record highs, home prices and sales are rising, consumer sentiment and net worth are high while debt levels are low.
3. However, consumer spending has only been growing at a moderate 2% pace despite these favorable conditions, partly due to many new jobs being low-paying and part-time.
4. If higher quality job growth continues above 200,000 per month, consumer spending could quicken and further boost the economic recovery.
CAR Chief Economist Leslie Appleton Young provides an economic update to the Murrieta Temecula Group and the Southwest Riverside County Association of Realtors
The document summarizes key aspects of the Union Budget for 2012-13 in India. It notes that while capping subsidies at 2% of GDP is a positive step, achieving this may be unrealistic given firm oil prices. The large projected fiscal deficit of 4.5-5.1% of GDP and high market borrowings of Rs. 4.79 lakh crore could fuel inflation and crowd out private investment. The budget includes measures to boost revenues through indirect and direct tax changes, reduce expenditures, and curb subsidy outflows to improve fiscal discipline.
The document discusses the state of the US economy and the role of monetary policy. It provides an analysis of key economic indicators and headwinds facing recovery. GDP growth in 2012 was supported by consumption, investment and government spending. Housing prices and production are improving but wages remain low. The document evaluates current monetary policy tools and makes recommendations, suggesting policy should remain accommodative given unemployment and deflation risks outweigh inflation concerns. It recommends the Federal Reserve continue its current policy path.
The Indian residential market continues to see substantial levels of new projects entering into the market, which is creating more ‘Investor friendly’ environment, with increase in choice of quality product. Consistent demand for prime residential properties is putting a upward pressure on rentals as well as capital values in almost all the micro markets. As the government is taking initiatives to boost long term demand, transaction volumes are likely to see revival in the coming festive seasons.
The labor market in Brazil showed unexpected signs of strength in November. The unemployment rate dropped below expectations to 4.9%, its lowest level for November. The working population grew 2.8%, above the yearly average, despite weak economic growth. The number of non-working people declined for the fourth month in a row, suggesting more people are entering the workforce. Average incomes rose 5.3% year-over-year, accelerating the growth in total real payroll. However, the economist maintains a moderate growth forecast for 2013 due to expectations of slower workforce expansion and contained income growth in a context of full employment.
Similar to 2012 Year in Review Charleston Realtors Market Update (20)
2024 Residential Market Update slide deck from Dr. Joey Von Nessen showing data from the residential real estate market in Charleston, South Carolina. Provided by the Charleston Regional Multiple Listing Service and the Charleston Trident Association of Realtors.
This document summarizes the economic outlook for South Carolina in 2021. It finds that while the state's economy rebounded strongly over the summer and fall of 2020, full recovery is not expected until mid-2021 at the earliest due to continued struggles in the leisure and hospitality industry and supply constraints in the housing market. Vaccine dissemination provides hope, but increasing COVID cases and typical year-over-year slowing could impact growth rates in the second half of 2021.
Presentation from Dr. Frank Hefner with the College of Charleston, presented on December 3, 2020 to the Commercial Investment Division of the Charleston Trident Association of Realtors. Covers an economic update as well as information about the local commercial real estate market.
Dr. Joseph Von Nessen's presentation from the Charleston Trident Association of Realtors' annual market update in January 2020. The presentation covers market activity in 2019 and offers a forecast for 2020.
The document provides an overview of several real estate development projects in Charleston, South Carolina owned by William Cogswell and Jay Weaver through their LLCs: Roi-Tan Development, GARCo Mill Development, Powerhouse Development, and Storehouse Development. It includes a table comparing the total square footage, number of buildings, tenants, rent prices, parking availability, and broker information for each development project. The Navy Yard and Shellmore projects have the most available space currently while Cigar Factory is fully occupied.
The document provides an overview of Greystar's operations and footprint in Charleston, South Carolina. It discusses Greystar's status as a major multifamily owner, manager, and developer in Charleston, where it employs approximately 450 people and has interests in 22 assets totaling over 5,700 units. The document also outlines Greystar's plans for a new mixed-use development in downtown Charleston at the site of a former Bi-Lo grocery store.
This document contains renderings and site plans for several proposed design projects in Charleston, South Carolina, including 411 Meeting Street, the Ferry Wharf Hotel, and a home on Daniel Island. Locations depicted include Meeting Street, Mary Street, Reid Street, Patriots Point Golf Links, Hagood Avenue, and North Charleston. The projects were designed by Rabun Rasche Rector Reece Architects of Atlanta, Georgia and RIV Architecture of Charlotte, North Carolina and North Charleston, South Carolina.
The site plan shows areas for demolition, construction access, and relocation of two units. Unit 8 will relocate to Unit 36 and Unit 14 will relocate to Unit 24. The legend provides information on existing buildings such as Marshalls, Office Depot, and T.J. Maxx, as well as their square footages. Walmart is identified as occupying 121,097 square feet and is planned for expansion of approximately 63,653 additional square feet.
This document provides an economic outlook and summary of real estate market trends from the Chief Economist of the National Association of REALTORS. It notes that while the US economy continues expanding, growth is slowing both domestically and abroad. Unemployment remains low but risks include high household and government debt levels and dependence on foreign investment. Real estate prices continue rising across most sectors, though leasing activity showed slower growth recently. Barring a major trade war escalation, the forecast is for ongoing but slower GDP and job growth through 2020.
This document provides an economic outlook and overview of real estate market trends from the Chief Economist of the National Association of REALTORS. It summarizes that while the US economy continues expanding, growth is slowing both domestically and abroad. Unemployment remains low but risks include high household and government debt levels and potential impacts from international trade disputes. The housing market faces affordability challenges from rising home prices and rents outpacing inflation. Barring a major trade war escalation, the forecast is for continued US expansion in 2020, albeit at a more moderate pace.
The document discusses industrial development opportunities and investment in the Charleston, South Carolina region. It notes that developers and capital from around the country are investing in the area due to factors like yield, growth potential, economic drivers, and an available workforce. However, threats to development are also discussed, such as infrastructure challenges, the complexity of permitting processes, and potential anti-growth sentiment. Timelines for typical large industrial development projects in the region are also provided.
Dr. Lawrence Yun's Economic Update at the Charleston Realtors Commercial Market Forecast event on November 15, 2018: Economic Trends and Outlook in a Rising Interest Rate Environment.
This document provides an analysis and outlook for the 2017 retail industry. It discusses various types of retailers such as promo retailers, entertainment retailers, and internet retailers. It also examines the impact of retailers in different Charleston, South Carolina regions and considers future retail trends such as food halls and their effect on grocery stores.
The document summarizes the Charleston commercial real estate market forecast for 2017. It discusses the growth of office inventory and declining vacancy rates in the Charleston area from 2013 to 2017. The report also highlights several new commercial and mixed-use developments planned or under construction between 2017 to 2020 in submarkets like downtown Charleston, WestEdge, Daniel Island, North Charleston, Mt. Pleasant, and Summerville.
The document summarizes Charleston's industrial real estate market. It shows that over 3.4 million square feet of new industrial space was delivered between 2013-2017, with vacancy rates dropping to a 5-year low. Average asking rents are projected to rise from $5.12/sqft currently to $6.20/sqft by 2020 for Class A space. Strong growth at the Port of Charleston is fueling demand, with investments of $4.6 billion and over 20,000 new jobs announced since 2013. However, the large amount of new speculative construction means absorption by new tenants is critical for the market to remain healthy.
This document summarizes hotel performance data and initiatives for the Charleston, South Carolina area hospitality industry. It shows that year-to-date 2017 occupancy, ADR, and RevPAR rates are up compared to 2016. Occupancy and RevPAR in Charleston have exceeded comparable cities like Savannah. The number of AirBnB listings in Charleston has grown significantly and short-term rentals are having an impact on the hotel industry. New initiatives proposed include addressing labor needs, regulating short-term rentals, and balancing tourism and community livability through a program to offer local perks and information.
The economic outlook for Charleston, SC is positive.
- The Charleston metro area has experienced faster GDP and job growth than other South Carolina cities in the past decade.
- Major employers in the region include Joint Base Charleston, MUSC, Boeing, and hospitals, contributing to steady job growth.
- Real estate fundamentals are strong, with housing and industrial real estate performing well due to low inventory and demand from supply chain shifts.
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2012 Year in Review Charleston Realtors Market Update
1. RESIDENTIAL MARKET
UPDATE 2012 Year-In-Review
January 29, 2013
Charleston Marriott
presented by
The Charleston Trident Association of Realtors®
2. Stephen Slifer
Economist
NumberNomics
Formerly of
Lehman Brothers
The Federal Reserve
www.NumberNomics.com
Facebook.com/NumberNomics
Steve@NumberNomics.com
3. The Highlights
1. GDP growth in 2013 = 2.7% (vs. 2.0% in 2012)
2. Consumers and businesses will be engines of growth.
3. Longer-term budget problems -- perspective.
4. Longer-term budget problems -- the solution.
4. 6.0% GDP (Real)
4.0%
2.0%
0.0%
-2.0%
GDP (Real)
Year-over-year
-4.0%
Slow, but steady.
-6.0% GDP growth for 2012 came in at 2.0%
2013 growth expected to be 2.7% even
with some drag from fiscal policy.
-8.0%
-10.0%
2006q1 2007q1 2008q1 2009q1 2010q1 2011q1 2012q1 2013q1
5. GDP Components
Investment
15%
Consumption
Trade
60%
10.0%
Government
15.0%
6. 100.0
Consumer Sentiment
95.0 Consumer sentiment plunged in December
as fiscal cliff fears mounted.
90.0
Recession It remained low in January as the 2% increase
in the payroll tax kicked in.
85.0
Even so, confidence remains relatively high.
80.0
75.0
70.0
65.0
60.0
55.0
50.0
Jan 2007 Jul 2007 Jan 2008 Jul 2008 Jan 2009 Jul 2009 Jan 2010 Jul 2010 Jan 2011 Jul 2011 Jan 2012 Jul 2012 Jan 2013
7. 1600
1500
S&P 500
1400
1300
1200
1100
1000
The stock market has regained all of the
900
ground it lost during the recession, and is
close to its record high level of 1561 set
back in October 2007.
800
700
600
8. $70.0
Consumer Net Worth (Trillions $)
$65.0
$60.0
$55.0
$50.0
The gain in stock prices means that consumers
$45.0 have restored most of the wealth they lost
during the recession.
$40.0 The other important component of wealth
is the value of your home.
$35.0
9. 15.0%
Consumer Debt Service Ratio
Consumers were highly leveraged at
the beginning of the recession.
14.0%
They have since paid down enormous
amounts of debt, and this debt ratio is
the lowest since 1983.
13.0%
They can quicken the pace of spending
if they so choose.
12.0%
Trend
11.0%
10.0%
10. Mortgage Rates
4.9
At 3.4% mortgage rates today
are at a record low level…
4.4
And they are going lower as
the Fed keeps buying mortgage-
backed securities.
3.9
3.4
2.9
11. Case Shiller Home Price Index
245.00
235.00
225.00
At the same time prices are 30%
215.00
lower than they were at the peak
of the housing market back in 2006.
205.00
195.00
185.00
175.00
165.00
155.00
145.00
Jan 2005
Jan 2006
Jan 2007
Jan 2008
Jan 2009
Jan 2010
Jan 2011
Jan 2012
Jul 2005
Jul 2006
Jul 2007
Jul 2008
Jul 2009
Jul 2010
Jul 2011
Jul 2012
12. Housing Affordability Index
200
Record low mortgage rates and sharply
reduced prices mean that
housing today is more affordable than
180
it has been at any time in 40 years
160
140
120
100
2007 2008 2009 2010 2011 2012
13. 1900 Housing Starts
1700
We need housing starts of 1.3 million
to keep pace with growth in the population.
Those people need a place to live.
1500
Starts have been below that pace for
5 years.
1300
Thus, demand has exceeded supply for 5 years.
1100
900
Housing Starts
Trend
700
500
Jan 2006 Jul 2006 Jan 2007 Jul 2007 Jan 2008 Jul 2008 Jan 2009 Jul 2009 Jan 2010 Jul 2010 Jan 2011 Jul 2011 Jan 2012 Jul 2012
14. Rental Vacancy Rate
10.5
9.5
8.5
7.5
That increase in demand has created
A shortage of rental properties.
6.5
Vacancy rates have fallen sharply
and are the lowest in a decade.
5.5
4.5
1980:Q1 1983:Q1 1986:Q1 1989:Q1 1992:Q1 1995:Q1 1998:Q1 2001:Q1 2004:Q1 2007:Q1 2010:Q1
15. Asking Rent -- Vacant Rentals
$740
$720
$700
$680
$660
The shortage of rental property is
beginning to push rents upwards.
$640
$620
$600
2006:Q1 2007:Q1 2008:Q1 2009:Q1 2010:Q1 2011:Q1 2012:Q1
16. 245.00
Case Shiller Home Price Index
235.00
225.00 After a big drop, home prices hit bottom
in January 2012
215.00
Since that time they have been climbing
205.00 at a 7.0% annual rate.
195.00 As prices climb, fewer homeowners
will be upside down and fence-sitters
185.00
will be encouraged to buy.
175.00
165.00
155.00
145.00
Jan 2005
Jan 2006
Jan 2007
Jan 2008
Jan 2009
Jan 2010
Jan 2011
Jan 2012
Jul 2005
Jul 2006
Jul 2007
Jul 2008
Jul 2009
Jul 2010
Jul 2011
Jul 2012
17. 1. Consumers feel confident.
2. They have restored almost all of their net worth.
3. The consumers’ debt burden is quite comfortable.
4. Interest rates are at record low levels.
5. Housing is as affordable as it has ever been.
18. GDP Components
Investment
15%
Consumption
Trade
60%
10.0%
Government
15.0%
19. CEO Confidence
64
61
58
55
CEO confidence is high and should climb in
the months ahead if the government
successfully deals with budget problems.
52
49
Jul-09 Oct-09 Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12 Jul-12 Oct-12 Jan-13
20. 1600
1500
S&P 500
1400
1300
1200
1100
1000
Stock prices have been climbing steadily.
900
As a result, many firms have chosen to
800 raise capital by issuing more stock.
700
600
21. $2,100
Corporate Profits with IVA and CC 65.0%
$2,000
By cutting costs and boosting
$1,900 productivity, profits have soared and
are still climbing at a healthy 6% pace. 45.0%
$1,800
$1,700
$1,600 Corporate Profits 25.0%
$1,500 Year-over-year
$1,400
5.0%
$1,300
$1,200
$1,100
-15.0%
$1,000
$900
$800 -35.0%
22. 11.0
Corporate Bond Rates
10.0
9.0
Aaa
Baa
8.0
7.0
6.0
Corporate borrowing rates are the lowest
5.0
they have been in more than 50 years.
4.0 Firms have been replacing high cost debt
with lower cost borrowing. Lowers costs.
Boosts profits. 50-year bonds anyone?
3.0
23. 25.0%
C & I Loans (%) 13.0%
15.0% 8.0%
3.0%
5.0%
-2.0%
-5.0%
C & I Loans (L)
Year-Over-Year (R) -7.0%
-15.0%
Credit is readily available via commercial -12.0%
paper and bond issuance.
-25.0%
In addition, bank loans to businesses are -17.0%
growing at a robust 13% pace.
-35.0% -22.0%
Oct 2012
Oct 2011
Jan 2012
Oct 2010
Jan 2011
Jul 2012
Jan 2010
Jul 2011
Jul 2010
Apr 2012
Apr 2011
Apr 2010
24. 10.5%
Corporate Cash / Assets (%)
Corporate cash levels have never
10.0% been higher.
They have plenty of cash available
for investment.
9.5%
9.0%
8.5%
8.0%
25. 1. CEO’s feel relatively confident.
2. Profits are soaring.
3. Interest rates are at record low levels.
4. Credit is readily available.
5. Firms have accumulated a mountain of cash.
26. Nonresidential Investment
20.0% Investment spending had been growing at a 10% rate.
But it has been gradually slowing since the
beginning of last year.
10.0%
0.0%
Why? Uncertainty.
-10.0%
Nonresidential Invest.
-20.0%
Year-over-year
-30.0%
27. 100
150
200
250
300
-50
350
0
50
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10 Why? Uncertainty.
Oct-10
Nov-10
That is OK, but not great.
170 thousand per month.
Dec-10
Jan-11
Feb-11
Jobs have been climbing by about
Mar-11
Apr-11
May-11
Jun-11
Jul-11
Aug-11
Sep-11
Oct-11
Nov-11
Dec-11
Private Employment
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Jan-13
Feb-13
29. $400
Budget Deficit
$200
$0
-$200
-$400
-$600
We have had 4 consecutive
-$800 $1 trillion budget deficits.
To finance a $1 trillion deficit
-$1,000
need to issue $1 trillion of debt.
-$1,200
In past 4 years we have added
$5 trillion to debt outstanding.
-$1,400
-$1,600
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
30. 100.0%
Debt -- % GDP
Danger
90.0%
80.0%
As a result debt to GDP ratio
has climbed sharply.
70.0% Will reach danger level of 90%
during next 10 years.
60.0%
50.0%
Acceptable
40.0%
30.0%
20.0%
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
31. 200.0%
Debt -- % GDP
180.0%
The real problems begin beyond 2022
because the baby boomers (born 1946-1964)
160.0% will retire between 2011-2029.
140.0% Debt to GDP ratio could reach 186%.
Think Greece.
120.0%
100.0%
Danger
80.0%
60.0%
Acceptable
40.0%
20.0%
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
33. 12.0%
Deficit -- % GDP
10.0%
Projected deficits will climb to
almost 6.0% of GDP by 2022.
8.0%
Would like it to be 2.0%.
6.0%
Thus, must shrink it by 4.0%.
4.0%
2.0%
0.0%
-2.0%
-4.0%
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
34. 22.0%
Tax Revenue % GDP
21.0%
Current revenue is 15.7% of GDP will rise to
about 18.5% as the economy improves.
20.0%
19.0%
18.0%
17.0%
16.0%
Historical average is 17.7%.
15.0% Probably not a lot of room to increase taxes.
14.0%
1960
1962
1964
1966
1968
1970
1972
1974
1976
1978
1980
1982
1984
1986
1988
1990
1992
1994
1996
1998
2000
2002
2004
2006
2008
2010
2012
2014
2016
2018
2020
2022
35. 26.0%
Govt. Spending % GDP
25.0%
Government spending today is 23% of GDP.
24.0%
Climbs to 24% by 2022. Historical average if 19.7%.
23.0%
Way too high!
22.0%
21.0%
20.0%
19.0%
18.0%
17.0%
16.0%
1960
1962
1964
1966
1968
1970
1972
1974
1976
1978
1980
1982
1984
1986
1988
1990
1992
1994
1996
1998
2000
2002
2004
2006
2008
2010
2012
2014
2016
2018
2020
2022
36. 12.0%
Deficit -- % GDP
10.0%
Slifer solution:
8.0% Tax Revenue = 0.0%
Expenditure cuts = -4.0%
6.0% Deficit Reduction = -4.0%
Not everybody agrees.
4.0%
2.0%
0.0%
Most policy makers want a ratio of 3:1
-2.0%
of spending cuts vs. higher tax revenue.
-4.0%
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
37. Tax Revenue
Other = 8%
Corporate = 11%
Individual = 46%
Social Security = 35%
To boost tax revenue they must increase individual taxes and/or Social Security taxes.
Combined they account for 81% of the total.
38. Government Spending
Interest = 6%
Nondefense = 14%
Entitlements = 62%
Defense = 18%
To cut spending they must include entitlements such as Social Security, Medicare,
and Medicaid (62%). Discretionary spending is only 32% or roughly 1/3 of the pie.
39. Now We Have a Broad Plan
Revenues = 0.0%, Expenditures = -4.0%
What specific taxes will be increased?
What expenditures will be cut?
41. Erskine Bowles Commission
1. Bipartisan. 18 members. Formed in 2010.
2. 9 Republicans. 9 Democrats
3. Nobody expected them to find a solution.
But they did.
42. Erskine Bowles Commission
1. Bipartisan. 18 members. Formed in 2010.
2. 9 Republicans. 9 Democrats
3. Nobody expected them to find a solution.
But they did.
4. 11 votes in favor (61%)
5. Needed 14 to formally adopt the blueprint.
43. Erskine Bowles Commission
1. Individual Taxes
Three brackets – 8%, 14%, 23% (vs. 39%)
Eliminate most tax deductions
Tax rates lower, but tax revenue rises.
45. Erskine Bowles Commission
3. Discretionary Spending
Cut to 2008 levels quickly (pre-recession).
Allowed to grow at ½ of inflation rate.
Equal percentage cuts for security and non-
security.
47. Erskine Bowles Commission
4. Social Security
Reduce benefits, particularly for high
income individuals.
Increase retirement age gradually to 68.
Increase payroll tax max from $168
thousand to $190 thousand.
48. Erskine Bowles Commission
5. Medicare
Medigap policies -- First $500 not covered.
$500-5,000 coverage is 50% of expenditure.
Raise eligibility age to 68.
49. Debt -- % GDP
200.0%
180.0%
160.0%
Instead of debt to GDP ratio climbing to 186% by 2035,
140.0% Simpson Bowles would shrink it to 40%.
120.0%
It may take 25 years to get there, but it can be done.
100.0%
Danger
80.0%
60.0% Acceptable
40.0%
20.0%
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
50. If They Can Find A Solution…
1. Less uncertainty.
2. Higher consumer and business confidence.
3. Faster growth in investment.
4. Faster GDP growth. Faster income growth.
5. More hiring. Lower unemployment rate.
6. Stock market soars.
51. Two Important Dates
1. February 28. Government begins to sequester
money.
2. March 27. Continuing resolution expires.
Government shutdown.
53. Seize the Moment
Stephen Slifer
NumberNomics
www.NumberNomics.com
54. Joey Von Nessen, Ph.D
Research Economist
USC’s Moore School of Business
RESH Marketing & Research
www.Resh.com
@RESHMarketing
YouTube.com/RESHMarketing
joey.vonnessen@moore.sc.edu
113. Find today’s presentations on:
Slideshare.net/CharlestonRealtors
Facebook.com/CharlestonRealtors
Download the
2012 Annual
Market Report
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