More than 2.2 million foreclosure filings were reported nationally during 2007, an increase of 75 percent compared to 2006. RealtyTrac’s 2007 U.S. Foreclosure Market report also shows that more than 1 percent of all U.S. households were in some stage of foreclosure during the year, up from 0.58 percent during 2006. Nearly 216,000 foreclosure filings [...]
Continue reading …The Associated Press Senate Democrats will move today to add to a $150 billion economic stimulus package that includes rebates for senior citizens living on Social Security and an extension of unemployment benefits. The action will likely set up a clash with the White House and House leaders who are pushing a narrower package. As [...]
Continue reading …Business economists are generally optimistic about prospects for their own businesses, but are less positive about the national economy. A January report from the National Association for Business Economics released the responses of 98 corporate and trade association economists polled between December 13 and January 9. Each was asked about conditions in their own companies [...]
Continue reading …The Associated Press Democratic and Republican congressional leaders reached a tentative deal Thursday on tax rebates of $300 to $1,200 per household and business tax cuts to jolt the slumping economy. Congressional officials close to the negotiations said House Speaker Nancy Pelosi and Republican Leader John Boehner of Ohio reached agreement in principle in a [...]
Continue reading …One week before its scheduled policy meeting, The Federal Open Market Committee cut the federal funds target rate by 75 basis points today, lowering the key rate to 3.5 percent. “This is an affirmation of our worst fears – we are not in a position that can be reversed at this point,” said Fred Crowley, [...]
Continue reading …Researchers have different opinions about economic trends in the construction industry, based on 2007 data. For the year, McGraw Hill reported total construction was down by 11 percent last year, compared to a 3-percent drop during 2006. Modest declines were reported for nonresidential building and non-building construction (public works and utilities), which were offset by [...]
Continue reading …The value of nonresidential construction starts during 2007 was up 11.2 percent from 2006, according to Reed Construction Data, a national construction industry research firm. On a month-to-month basis, job starts increased 5.2 percent during December after weak showings during October and November. However, starts weakened at the end of 2007, with the final three [...]
Continue reading …Dow Jones Indexes and Wilshire Associates, a global investment services and consulting firm, announced that Bahrain, Kuwait and Sri Lanka will be added to the Dow Jones Wilshire Global index family. Michael A. Petronella, president of Dow Jones Indexes, said the countries were added because of the growing importance of such emerging markets to the [...]
Continue reading …Despite a troubled U.S. economy, 25 percent of job seekers believe they’ll find jobs within two months, according to Challenger, Gray and Christmas. The firm surveyed 500 people during December and found that the overall confidence about the job market is higher than last year. Only 16 percent were as confident in 2006. About two-thirds [...]
Continue reading …The Greater Colorado Springs Chamber of Commerce and the Colorado Springs Economic Development Corp. have decided not to merge. The announcement came today after several months of discussion about the matter. While the two organizations have some overlapping goals, representatives said they decided against a merger in order to stay committed to their respective missions. [...]
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