July 2009
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Economic News for Burbank Area Real Estate Investors

22. June 2009 by Burbank Real Estate.

Of note this week is the FOMC (Federal Open Market Committee) rate policy meeting.

While it’s widely expected that the fed funds rate will remain unchanged, at zero to .25%, the focus will be on the statements from this meeting regarding the state of the economy and the Fed’s long term policy goals.

Existing Home Sales are out tomorrow, which are expected to show an increase and New Home Sales are due out Wednesday and also expected to show an increase over the previous month.

On Thursday we’ll get jobless claims and GDP (Gross Domestic Product) for the first quarter of 2009, which is expected to post a decline.

Friday will bring Personal Income and Outlays and Consumer Sentiment.

The Federal Reserve in Plain English (movephilly.blogspot.com)
The business week ahead (seattletimes.nwsource.com)
Stocks Finish Higher after Fed Decision (businessweek.com)

Posted in Economic Market Reports, Blogroll | Print | No Comments »

Housing Starts

16. June 2009 by Burbank Real Estate.

Image via Wikipedia

Housing starts showed better than expected strength in May, posting a 17.2% increase!

The rebound was led mainly by multifamily dwellings as they accounted for a 61.7% increase. None the less, single family homes did post an increase of 7.5%. The West and South regions posted the most significant gains.

The good news here is that we are starting to see signs of life in the housing market. Opinions differ, especially by geographical areas, but more analysts are starting to predict better times ahead for the housing market in the next couple of years.

In other news, Industrial Production numbers came out today, posting a drop of 1.1%, which was widely expected.