30 Yr Mortgage Rates hit all-time low & other housing info
Freddie Mac stated today that the 30-year fixed-rate mortgage average hit a new low. The 30-year average declined to 4.71% (with an average 0.7 point) for the week ending Dec. 3 from 4.78% last week. This new 30-year average is the lowest since Freddie Mac began its weekly survey in 1971. Last year, the average was 5.53%. Remember that this is the average 30- year rate, which means that many lending institutions are offering even low rates. Frank Nothaft, Freddie Mac's chief economist stated, "Low mortgage rates and the cumulative decline in house prices have contributed to an extremely affordable housing market and helped spur home sales this year . . . For instance, total new and existing home sales in October were 36% higher than their January low on a seasonally adjusted, annualized rate, according to the U.S. Census Bureau and the National Association of Realtors."
So, there is improving news in the housing/ real estate markets. The combination of the Federal housing tax credit, low mortgage rates, lower home prices, and some improvement in consumer belief that the worst of the recession is over, has created this improvement. As we enter the Holiday season, real estate "shopping" historically cools off until after the holiday season. However, this kind of news is hopefully a fore-teller of a better 2010 housing market.
Another promising indication is that the President is finally convening a Jobs-related summit for tomorrow, and hopefully, that will addressed the major weakness in both the housing market as well as the overall economy. Let's hope that our political leaders have finally understood that joblessness is what's keeping our economy from really growing, and they will address some real solutions to that situation. Amongst my suggestions: (1) Incentives for hiring in "progressive" industries, such as alternative energy, technology, etc-- that will NOT ONLY put people back to work, but also support industries will be necessary for the US to reach the next level. As an Ecobroker, I believe that incentives in "green-related" building and renovations will boost the economy, help the joblessness situation, and make houses more sustainable for now and the future; (2) Make the joblessness challenge the #1 Economic Priority; (3) Create incentives so that progressive industries benefit by hiring people, than by the cost-savings side-effects of layoffs. Let's put America back to work again!
FOLLOW ME ON TWITTER- @rgbrody (www.twitter.com/rgbrody)
MY Real Estate Website: http://tinyurl.com/rgb242
MY Consulting Website: http://tinyurl.com/rgbcons
MY Real Estate Blog: http://tinyurl.com/rgbreb
MY General Blog: http://tinyurl.com/rgbstake
Enjoy the Home of the RICH IDEAS, + RICH BRODY'S TAKE, w/ Blogs about RE, negotiations, finance, etc., Leadership Planning, politics, etc. While there are many points of view, this blog is intended to "cut through the spin," and provide a unique, innovative and provocative insight into current issues. The intent of the blog is to be updated several times per week. Real estate info: http://PortWashingtonLongIslandRealEstate.com and the PLAN2LEAD website: http://plan2lead.net
Showing posts with label news. Show all posts
Showing posts with label news. Show all posts
Thursday, December 3, 2009
Wednesday, December 2, 2009
THE US MEDIA & AMERICAN PRIORITIES
If one's first contact with the US media took place sometime between 8PM Eastern Time last night, and this morning's local daily newspapers, the most likely reaction would be "Huh?" President Obama decided to have a primetime speech given at West Point broadcast to the entire country. In this speech, the President intended to clearly explain his policy toward Afghanistan, and explain simultaneously sending an additional 30,000- 35,000 US troops into the war zone, while also stating his intent to begin withdrawing those troops in 18 months. It appeared that this may have been the first time that this President got both the left and the right to agree, albeit for different reasons - - - many on the right upset because he announced a timetable and was not in this to win; while many on the left upset that this President, who ran, at least partially, as a "peace" candidate was sending more US troops in harms way, when they feel he should be withdrawing from Afghanistan. The most revealing thing about the post- speech reaction was that almost no one enthusiastically supported this plan.
In what was perhaps even more revealing about the US media, however, was the way the NY newspapers handled the front page of this morning's editions. The NY Post had approximately 20% of the front page headlined about the President's speech, but chose to dedicate approximately 80% of the front page to the Tiger Wood's trysts and women. Newsday split their front page differently; dedicating about 2/3 to the Nassau County Supervisor's outcome (one month after the election), and 1/6 each to the Obama story and to Tiger Wood's getting a traffic fine (referring readers to the Sports section). The New York Times dedicated the "above the fold" half of the front page to the President's speech, and to an analysis of Afghanistan options.
Once again, America has become distracted. Once again, a President has come before us and announced his plan to "temporarily" expand our war effort. Once again, the media has predominantly only given this a cursory review, accepting the inevitable. The most revealing thing last night was President Obama conceding that some are comparing this to Vietnam, but then giving his "spin" as to why it is different - - - actually having the audacity to use George Bush's explanation of how the US is broadly supported in this war, supposedly unlike Vietnam; and that the American public understands the dangers in the post 911 world. It is revealing that the President all of a sudden started sounding like a cross between his predecessor and Rudy Giuliani (who is infamous for referring to 911 in every fourth word!). Most revealing is that while some of the media questioned strategic points in the President's plan, there were very few outraged on this Vietnam analogy. What is being missed is the most important similarities between Vietnam and Afghanistan - - - both are un-winable situations; both are very costly in terms of both money and human loss; and both are concerned with a complicated foreign situation at a time when our focus should be on strengthening America.
The fact that our economy shed an additional 169,000 jobs in November, and that our joblessness rate is still over 10% should be attracting most of our attention. The huge federal deficits and lack of economic focus should be what most concerns us! The fact that what the US needs is "domestic nation-building," NOT building other nations, is what the priority effort should be! Emphasize alternative energies so that our dependence on foreign resources is reduced, and more US funds remain in the US! Subsidize job creation instead of supporting companies that use the subsidies simply to make profits for themselves! Emphasize production and manufacturing in the US, especially in industries that our essential to our future. Bailout the American citizens that are victims of this economy!
Nassau County finally announced that all (or most) of the votes have been counted and re-counted and elected a new County Executive. The ousted executive Tom Suozzi appeared popular, and was heavily favored to win re-election. Yet the combination of anger and frustration, voters fed up with high taxes combined with frustration with politics caused a significantly lighter turnout amongst previous Suozzi supporters and energized his opposition. Americans are getting fed up, BUT are not doing anything about!
The US was founded on the right to protest any inequities in the system - - - in the late 1960's and early 1970's enough people loudly protested the war in Vietnam that eventually the US got out of that location, after a huge number of deaths and injuries! And it was NOT the "Peace with Honor" that Richard Nixon promised in his campaign! It's time for us all to unite for what's best for America and change the nation's priorities, and support America - - - in the famous words from the movie "Network" "I'm mad as hell and I'm NOT going to take it anymore."
Let's get America working again!
FOLLOW ME ON TWITTER- @rgbrody (www.twitter.com/rgbrody)
THIS BLOG: http://tinyurl.com/rgbstake
CONSULTING WEBSITE: http://tinyurl.com/rgbcons
RE Website: http://tinyurl.com/pwlire
In what was perhaps even more revealing about the US media, however, was the way the NY newspapers handled the front page of this morning's editions. The NY Post had approximately 20% of the front page headlined about the President's speech, but chose to dedicate approximately 80% of the front page to the Tiger Wood's trysts and women. Newsday split their front page differently; dedicating about 2/3 to the Nassau County Supervisor's outcome (one month after the election), and 1/6 each to the Obama story and to Tiger Wood's getting a traffic fine (referring readers to the Sports section). The New York Times dedicated the "above the fold" half of the front page to the President's speech, and to an analysis of Afghanistan options.
Once again, America has become distracted. Once again, a President has come before us and announced his plan to "temporarily" expand our war effort. Once again, the media has predominantly only given this a cursory review, accepting the inevitable. The most revealing thing last night was President Obama conceding that some are comparing this to Vietnam, but then giving his "spin" as to why it is different - - - actually having the audacity to use George Bush's explanation of how the US is broadly supported in this war, supposedly unlike Vietnam; and that the American public understands the dangers in the post 911 world. It is revealing that the President all of a sudden started sounding like a cross between his predecessor and Rudy Giuliani (who is infamous for referring to 911 in every fourth word!). Most revealing is that while some of the media questioned strategic points in the President's plan, there were very few outraged on this Vietnam analogy. What is being missed is the most important similarities between Vietnam and Afghanistan - - - both are un-winable situations; both are very costly in terms of both money and human loss; and both are concerned with a complicated foreign situation at a time when our focus should be on strengthening America.
The fact that our economy shed an additional 169,000 jobs in November, and that our joblessness rate is still over 10% should be attracting most of our attention. The huge federal deficits and lack of economic focus should be what most concerns us! The fact that what the US needs is "domestic nation-building," NOT building other nations, is what the priority effort should be! Emphasize alternative energies so that our dependence on foreign resources is reduced, and more US funds remain in the US! Subsidize job creation instead of supporting companies that use the subsidies simply to make profits for themselves! Emphasize production and manufacturing in the US, especially in industries that our essential to our future. Bailout the American citizens that are victims of this economy!
Nassau County finally announced that all (or most) of the votes have been counted and re-counted and elected a new County Executive. The ousted executive Tom Suozzi appeared popular, and was heavily favored to win re-election. Yet the combination of anger and frustration, voters fed up with high taxes combined with frustration with politics caused a significantly lighter turnout amongst previous Suozzi supporters and energized his opposition. Americans are getting fed up, BUT are not doing anything about!
The US was founded on the right to protest any inequities in the system - - - in the late 1960's and early 1970's enough people loudly protested the war in Vietnam that eventually the US got out of that location, after a huge number of deaths and injuries! And it was NOT the "Peace with Honor" that Richard Nixon promised in his campaign! It's time for us all to unite for what's best for America and change the nation's priorities, and support America - - - in the famous words from the movie "Network" "I'm mad as hell and I'm NOT going to take it anymore."
Let's get America working again!
FOLLOW ME ON TWITTER- @rgbrody (www.twitter.com/rgbrody)
THIS BLOG: http://tinyurl.com/rgbstake
CONSULTING WEBSITE: http://tinyurl.com/rgbcons
RE Website: http://tinyurl.com/pwlire
Friday, November 20, 2009
America's Health Plan
Everyone, whether Republican or Democrat, conservative or liberal, would agree to a couple of things about our health care in the U.S.: (1) The costs have escalated dramatically, and continue to rise at an alarming rate even during a recession; (2) All Americans should receive adequate health care. From that point on, the politicians, "spinners," pundents, advocates, etc. take over, and create opposing plans, none of which address both of the things that they originally agreed upon.
The plan passed by the House, and what appears to be the plan being proposed in the Senate, differ in many major ways. Yet, neither of them addresses the two basic issues listed above! The House plan passed was approximately 2,000 pages of verbal legal jargon, that few representatives read in its entirety. Most representatives assign that "heavy lifing" to their aides, who then summarize the plan to the Congressman. The very fact that the plan was passed almost entirely by one party and opposed by the other, indicates that politics, rather trying to create the best plan, is the rule! The Senate is now bringing up a plan that all the details have NOT been disclosed, and needs 60 votes to even get to the Senate floor to be discussed.
The American public hears the health proposals via the "spin-meisters" and politicians and advocates, who only state part of the issue. The Republicans discuss the malpractice issue (and its related costs) and the Democrats avoid that issue because politically they don't want to offend the trial lawyers. The Democrats discuss mandating coverage, and the Republicans object to mandates and the related costs. The Democrats speak of taxing big earners in one version or large companies in another, without discussing the ramifications. The Republicans avoid discussing how to address adequate health care for all, and instead object to the costs of the Democrats plans. An objective observer would say that BOTH sides are "spinning" both the numbers and the plans to make their ideas seem better.
In other countries, there are public health programs. A dentist friend of mine from London recently developed an illness, which was taken care of expeditiously and effectively, because, as he put it, he had "private insurance." In the Bahamas, there are both public and private plans. Canada has had universal health care for many years. However, these countries have far smaller populations that in the U.S., and plans that work in one country may not work in all.
We need to develop a different frame of mind regarding many issues related to health care if we are to accomplish the important task of achieving the two worthy goals stated at the beginning of this blog. (1) Health insurance must be able to be sold across state lines. That would increase competition, offer more alternatives, and somewhat lower costs. (2) We have to cap non-medical malpractice liability payouts, so as to reduce overall health care costs, (3) We have to be much smarter in terms of forcing unfunded mandates on employers, hospitals, local governments, etc ., (4) We have to have a more efficient drug creation and review policy, to reduce both the costs of bringing drugs to market, and increase usage of generics, (5) We have to curb the use of the huge amount of unnecessary testing done, much of which is done by doctors to protect themselves from medical malpractice liability, (6) We need to reduce government waste, by the continuous use by governments of multiple, off duplicative layers of beaurocracy, (7) We must permit whatever economies of scale can be effectively used to reduce costs, (8) We must create a better electronic system where x-rays, tests, etc., taken in one locale, are easily available to licensed professionals elsewhere, (9) A greater emphasis on prevention is essential, (10) A fair evaluation as to when alternative methodologies might be an important part of the medical puzzle, and most importantly, (11) WE MUST "THINK OUTSIDE THE BOX."
The American public cannot let the politicians do "their thing" with an issue such as this, where any plan approved will most likely be a hodge-podge, mish-mosh, expensive and eventually dysfunctional and unworkable program, that we must simply reform again in a few years. This is too important - - - let's get it right the first time!!!
FOLLOW ME ON TWITTER: @rgbrody (www.twitter.com/rgbrody
The plan passed by the House, and what appears to be the plan being proposed in the Senate, differ in many major ways. Yet, neither of them addresses the two basic issues listed above! The House plan passed was approximately 2,000 pages of verbal legal jargon, that few representatives read in its entirety. Most representatives assign that "heavy lifing" to their aides, who then summarize the plan to the Congressman. The very fact that the plan was passed almost entirely by one party and opposed by the other, indicates that politics, rather trying to create the best plan, is the rule! The Senate is now bringing up a plan that all the details have NOT been disclosed, and needs 60 votes to even get to the Senate floor to be discussed.
The American public hears the health proposals via the "spin-meisters" and politicians and advocates, who only state part of the issue. The Republicans discuss the malpractice issue (and its related costs) and the Democrats avoid that issue because politically they don't want to offend the trial lawyers. The Democrats discuss mandating coverage, and the Republicans object to mandates and the related costs. The Democrats speak of taxing big earners in one version or large companies in another, without discussing the ramifications. The Republicans avoid discussing how to address adequate health care for all, and instead object to the costs of the Democrats plans. An objective observer would say that BOTH sides are "spinning" both the numbers and the plans to make their ideas seem better.
In other countries, there are public health programs. A dentist friend of mine from London recently developed an illness, which was taken care of expeditiously and effectively, because, as he put it, he had "private insurance." In the Bahamas, there are both public and private plans. Canada has had universal health care for many years. However, these countries have far smaller populations that in the U.S., and plans that work in one country may not work in all.
We need to develop a different frame of mind regarding many issues related to health care if we are to accomplish the important task of achieving the two worthy goals stated at the beginning of this blog. (1) Health insurance must be able to be sold across state lines. That would increase competition, offer more alternatives, and somewhat lower costs. (2) We have to cap non-medical malpractice liability payouts, so as to reduce overall health care costs, (3) We have to be much smarter in terms of forcing unfunded mandates on employers, hospitals, local governments, etc ., (4) We have to have a more efficient drug creation and review policy, to reduce both the costs of bringing drugs to market, and increase usage of generics, (5) We have to curb the use of the huge amount of unnecessary testing done, much of which is done by doctors to protect themselves from medical malpractice liability, (6) We need to reduce government waste, by the continuous use by governments of multiple, off duplicative layers of beaurocracy, (7) We must permit whatever economies of scale can be effectively used to reduce costs, (8) We must create a better electronic system where x-rays, tests, etc., taken in one locale, are easily available to licensed professionals elsewhere, (9) A greater emphasis on prevention is essential, (10) A fair evaluation as to when alternative methodologies might be an important part of the medical puzzle, and most importantly, (11) WE MUST "THINK OUTSIDE THE BOX."
The American public cannot let the politicians do "their thing" with an issue such as this, where any plan approved will most likely be a hodge-podge, mish-mosh, expensive and eventually dysfunctional and unworkable program, that we must simply reform again in a few years. This is too important - - - let's get it right the first time!!!
FOLLOW ME ON TWITTER: @rgbrody (www.twitter.com/rgbrody
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