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Millionaire Now! by Larry NusbaumThis blog is based on the organizational principles found in my new book, "Millionaire Now! - A Financial Toolbox with Seven Steps to Wealth". |
I THINK THEY MISSED THE POINT!
Posted on 11/03/2006 14:08 PM | Link | Post Comment
Mortgage rates dip to 6.31 percent
from MSNBC.com, reports that rates on 30-year mortgages dropped this week to the lowest level in a month as financial markets viewed new evidence of a slowing economy as a sign that inflation will decline. Rates for 30-year, fixed-rate mortgages dropped to 6.31 percent this week, down from 6.40 percent last week. The article also states that in an effort to dispel some of the gloom surrounding housing at present, the National Association of Realtors announced that is beginning a series of newspaper ads proclaiming "it's a great time to buy or sell a home." The ads, which were to start appearing in newspapers on Friday, noted that mortgage rates have been falling recently and the near-record level of unsold homes means that buyers have more homes to choose from. The ad quotes former Fed Chairman Alan Greenspan as saying that "most of the negatives in housing are probably behind us." Tom Stevens, the Realtors president, said, "The market is much better than you might hear or read."
From The Big Picture: It's a great time to buy or sell a home!
MY RESPONSE:
1. The talking points in the ad are actually correct, except for the idiot assertion that "prices have stabilized and are starting to rise".
2. Under no circumstances would I suggest that people buy a home in San Diego or a condo in Miami at this time.
3. And, I would advise "investors" to stay back.
4. But, for people moving or people interested in buying their first home, why not? The inventory levels really do favor them and the interest rates really are great.
THE POINT OF THE AD CAMPAIGN IS NOT TO GET YOU TO TRANSACT, AS MOST WILL ASSUME, BUT TO "RALLY THE TROOPS".....WHICH WILL LEAD TO TRANSACTIONS.
City warned fees may stunt growth
from the Arizona Republic, reports that noted state economist Elliott Pollack warned the Goodyear City Council that raising impact fees too high could stunt the city's future economic development. Pollack was commissioned to do an economic analysis after developers and city staff were concerned that the fee increases proposed in a July report were too steep. The study produced by an independent economic consulting firm suggested that Goodyear triple its impact fees from $9,000 per home to about $27,000. That number shocked many, including Goodyear officials. After some additional debate, the fee increase recommendation was lowered to $21,000 per home. Pollack said that if the fees are too high, developers might take their projects to neighboring cities that have lower impact fees. That could have Goodyear lose regional commercial developments that could generate huge sales-tax revenues for the city. Avondale is considering raising impact fees to about $18,000, while Surprise has talked about boosting theirs to $21,000. Developers pay impact fees to cities in order to build infrastructure for resident services, but builders just pass these fees on in the price of the home.
from MSNBC.com, reports that rates on 30-year mortgages dropped this week to the lowest level in a month as financial markets viewed new evidence of a slowing economy as a sign that inflation will decline. Rates for 30-year, fixed-rate mortgages dropped to 6.31 percent this week, down from 6.40 percent last week. The article also states that in an effort to dispel some of the gloom surrounding housing at present, the National Association of Realtors announced that is beginning a series of newspaper ads proclaiming "it's a great time to buy or sell a home." The ads, which were to start appearing in newspapers on Friday, noted that mortgage rates have been falling recently and the near-record level of unsold homes means that buyers have more homes to choose from. The ad quotes former Fed Chairman Alan Greenspan as saying that "most of the negatives in housing are probably behind us." Tom Stevens, the Realtors president, said, "The market is much better than you might hear or read."
From The Big Picture: It's a great time to buy or sell a home!
MY RESPONSE:
1. The talking points in the ad are actually correct, except for the idiot assertion that "prices have stabilized and are starting to rise".
2. Under no circumstances would I suggest that people buy a home in San Diego or a condo in Miami at this time.
3. And, I would advise "investors" to stay back.
4. But, for people moving or people interested in buying their first home, why not? The inventory levels really do favor them and the interest rates really are great.
THE POINT OF THE AD CAMPAIGN IS NOT TO GET YOU TO TRANSACT, AS MOST WILL ASSUME, BUT TO "RALLY THE TROOPS".....WHICH WILL LEAD TO TRANSACTIONS.
City warned fees may stunt growth
from the Arizona Republic, reports that noted state economist Elliott Pollack warned the Goodyear City Council that raising impact fees too high could stunt the city's future economic development. Pollack was commissioned to do an economic analysis after developers and city staff were concerned that the fee increases proposed in a July report were too steep. The study produced by an independent economic consulting firm suggested that Goodyear triple its impact fees from $9,000 per home to about $27,000. That number shocked many, including Goodyear officials. After some additional debate, the fee increase recommendation was lowered to $21,000 per home. Pollack said that if the fees are too high, developers might take their projects to neighboring cities that have lower impact fees. That could have Goodyear lose regional commercial developments that could generate huge sales-tax revenues for the city. Avondale is considering raising impact fees to about $18,000, while Surprise has talked about boosting theirs to $21,000. Developers pay impact fees to cities in order to build infrastructure for resident services, but builders just pass these fees on in the price of the home.
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Examples
Morpheus Trading - Mon Jul 21, 2008 08:33AM
NOTE: Please click on the charts below to enlarge them if [read more]
NOTE: Please click on the charts below to enlarge them if [read more]
Morpheus Trading - Mon Jul 21, 2008 08:31AM
NOTE: Please click on the charts below to enlarge them i [read more]
NOTE: Please click on the charts below to enlarge them i [read more]
Millionaire Now! by Larry Nusbaum - Tue Jul 22, 2008 09:23AM
Hedge funds have made billions this year shorting the banks, [read more]
Hedge funds have made billions this year shorting the banks, [read more]
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