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Social Security
More than 50 million Social Security recipients will see no increase in their monthly payments next year, the government said Thursday, the first year without an increase since automatic adjustments were adopted in 1975.
This could boost President Barack Obama's plan to send seniors another round of $250 payments before the congressional elections.
Oct 15 · 8:35:00 PM · Source: Yahoo.com
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by Rich Pike
Housing
U.S. mortgage foreclosure filings fell for a second straight month in September, but remained near a record high, amid ongoing and sweeping efforts to keep borrowers in their homes, a report released on Thursday showed.
Foreclosure filings -- including mortgage default notices, house auctions and home repossessions by banks -- were reported on 343,638 properties in September, down 4 percent from August, but up 29 percent from the year-earlier month, real estate data firm RealtyTrac said.
Oct 15 · 2:21:00 PM · Source: Reuters
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by Larry Etter
Unemployment
The number of Americans filing first-time claims for unemployment benefits dropped last week to the lowest level in nine months. Applications fell by 10,000 to 514,000 in the week ended Oct. 10, lower than forecast, from a revised 524,000 the week before, Labor Department data showed today in Washington. The total number of people collecting unemployment insurance also decreased.
Numbers seem to indicate the improving economy is leading to a slowdown in firings.
Oct 15 · 11:39:00 AM · Source: Bloomberg.com
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by Larry Etter
CPI
The Consumer Price Index rose 0.2 percent in September, which followed a 0.4 percent increase in August.
The slower pace of CPI rise in September showed that inflation will not be a threat as the economy emerges from the worst recession since the Great Depression.
Oct 15 · 9:58:00 AM · Source: Bloomberg
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by Larry Etter
Retail Sales
The Commerce Department reported total retail sales fell 1.5 percent in September. Excluding motor vehicles and parts, retail sales rose by a bigger-than-expected 0.5 percent in September after increasing 1.0 percent in August.
Analysts polled by Reuters had forecast headline retail sales falling 2.1 percent in September.
Oct 14 · 11:13:00 AM · Source: Reuters.com
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by Rich Pike
Housing
An estimated 25 million homeowners, or 48% of those with mortgages, will owe more on the loan than the house is worth by the first quarter of 2011, according to an analysis by Deutsche Bank released this week.
Why is Wall Street ignoring an analysis like this and instead is putting its faith in "green shoots"?
Aug 6 · 12:34:00 PM · Source: Marketwatch.com
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by Rich Pike
Housing
Pending sales of previously owned U.S. homes rose at a faster-than-expected pace in June, a real estate trade group said on Tuesday, more evidence the housing market was starting to claw out of a three-year slump.
The National Association of Realtors said its Pending Home Sales Index, based on contracts signed in June, rose 3.6 percent to 94.6. It was the fifth straight month of advance and the first such streak in six years, the industry group said.
Aug 4 · 10:23:00 AM · Source: Reuters.com
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by Rich Pike
Incomes
U.S. personal incomes tumbled 1.3 percent in June, more than forecast and the biggest drop in four years, signaling that consumer spending will take time to recover.
The decline partly reflected the unwinding of one-time transfer payments from the Obama administration’s stimulus plan, which boosted incomes 1.3 percent in May, figures from the Commerce Department showed today in Washington. Spending rose 0.4 percent in June as prices climbed. Adjusted for inflation, purchases fell 0.1 percent, the report showed.
Aug 4 · 9:19:00 AM · Source: Bloomberg.com
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by Rich Pike
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