Housing’s Impact on Economic Growth

first_img default Economy Equity HOUSING Underwater 2019-07-18 Seth Welborn  Print This Post Tagged with: default Economy Equity HOUSING Underwater Share Save Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Sign up for DS News Daily Home / Daily Dose / Housing’s Impact on Economic Growth Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Homeownership Rates Missing the Mark Next: Reforming Fannie and Freddie The Best Markets For Residential Property Investors 2 days ago A new report from CoreLogic examines how housing has played a part in what is now the longest economic expansion on record. According to a CoreLogic special report, titled “The Role of Housing in the Longest Economic Expansion,” in July 2019,  the United States’ economic expansion reached 121 months. The economy has continued to grow since the recession ended in 2009, and with housing comprising approximately 15% of GDP since 2010, the real estate market is an important indicator of economic health.“During the last nine years, the expansion has created more than 20 million jobs, raised family incomes and rebuilt consumer confidence,” said CoreLogic Chief Economist Frank Nothaft. “The longest stretch of mortgage rates below 5% in more than 60 years has supplemented these factors. These economic forces have driven a recovery in home sales, construction, prices and home equity wealth.”In Q1 2019, the total percent of homes underwater went from 25.9% in the first quarter of 2010 to 4.1% in the first quarter of 2019. Meanwhile, home equity reached $15.8 trillion up from $6.1 trillion in 2019. Additionally, CoreLogic notes that home flipping has increased significantly since the recession, reaching its highest point 11.4% in 2018. The number of homes underwater dropped by over 21 percentage points to 4.1% in the first quarter of 2019, while the biggest drop (6.2%) occurred between 2012 and 2013 when the share of homes with negative equity went from 22.4% to 15.5%, driven in part by  a 10.2% rise in home prices. “Home prices have increased steadily since 2011, creating record amountsof home equity and putting homeowners in a good position to weather future downturns,” said Molly Boesel, Principal Economist, CoreLogic.According to CoreLogic, concerns over an imminent recession have been rising as the economy continues to progress. In the housing economy, while home prices are still growing, they aredoing so at a slower pace. Home prices increased just 3.6% year over year in May 2019, down from 4.1% in January. Additionally, housing starts in May 2019 underperformed, dropping 0.9% below the revised April estimate. “We expect the housing market to enter a normalcy phase over the next 24 months,” said Ralph McLaughlin, Deputy Chief Economist. “With prices neither rising too fast nor too slow, and with a growing stream of young households looking to buy homes over the next two decades, the long-term view looks healthy.” in Daily Dose, Featured, Government, Market Studies, News Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago July 18, 2019 1,260 Views About Author: Seth Welborn Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Housing’s Impact on Economic Growth Subscribelast_img read more

UK and Italy equally keen on parking sex prejudice

first_img Previous Article Next Article UK and Italy equally keen on parking sex prejudiceOn 2 Dec 2003 in Personnel Today Related posts:No related photos. Comments are closed. British companies are turning to the continent to explore new approaches toequal opportunities, and Italy was the unlikely venue for their latest meeting.The Italians, stereotypically known for their macho male-dominated culture, playedhost to companies in a two-day conference, which is part of a three-yearproject to encourage equal opportunities in Europe. Working in partnership under the EQUAL project banner, companies from the UKand Italy hope to launch a shared mentoring scheme and training programme forworkers in the two countries. As part of the conference, delegates from companies including BMW (GB) andScottish Enterprise Lanarkshire visited the Fiat car factory in Malfi to meetfemale workers and discuss gender imbalance issues in the transport industry. Fiat employs more women in its factories than comparable set-ups in the UK,with more than one in five female staff. The car manufacturer offers two hours paid leave a week to breast-feedingworking mothers, and encourages family-friendly daytime shifts. It also offers staff a dedicated Learning Centre to promote careerdevelopment and personal study in topics such as IT skills, English languageand the European driving licence. The centre has assisted 3,500 employees so far, and Fiat believes it plays amajor factor in staff retention. Glyn Williams, head of strategic development at the NTP trainingorganisation and lead partner in the project, said the conference was organisedwith a view to making real changes across Europe. “As a result of this visit, we have already been able to pass on someof the research techniques being used in the motor trade in the UK, whilegleaning new ideas from them,” he said. By Michael Millarwww.furichtransport.comlast_img read more