St Louis Finance News: The Double Dip Syndrome May Be Right Around the Corner for 22 Cities
News Press Hot Line: 314-334-0210 | Floyd Tapia
The country may be heading for its new swan song financially speaking. Moody’s Economy.com just released statistics singling out 22 cities that are at real risk of (more…)
St Louis Finance News: Foreclosures Are Predicted To Persist [News Hot Line: 314-334-0210 | Floyd Tapia]
There is news coming out of the Federal Reserve Bank of Cleveland saying that they believe this country’s high foreclosure rate will most likely continue for some time.
As part of a national study involving the health of this nation’s financial system as a whole, the Fed looks closely at the overall changes in foreclosure and unemployment rates especially noting the differences in the timing of these movements.
Other data used to predict the continuation of this foreclosure epidemic was based in part on the fact that several states including California, Texas, Massachusetts and Oklahoma experienced boom-bust housing cycles which in turn had elevated foreclosure starts for years after the peak in foreclosure starts and inventory.
These previous boom-bust cycles “were small in comparison to the current cycle,” according to the Fed’s report.
While the recession has left indelible marks in the housing and labor markets, added with the unemployment rate doubling and the foreclosure start rate tripling, the timing seems to show that the timing of the movements differs over this financial cycle as brought out by Timothy Dunne, a vice president at the Federal Reserve Bank of Cleveland, and Kyle Fee, a research assistant.
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News: Commercial Real Estate Vacancies May Peak Within A Couple Of Years - [News Hot Line: 877-334-0210]
The commercial industry is still seeing vacancy rates continuing with experts agreeing that most markets (more…)
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America’s two largest home loan owners have decided perhaps recklessly but irrefutably not to lower the (more…)
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News: Unprecedented Student Loan Debt Explodes
The year 2010 will be remembered for many financial snafus and setbacks due to the alarming rise of foreclosures and underwater housing.
But it is already turning out to be the year where students have taken out an unprecedented (more…)
News: There have been 22 bank failures this year and the number is rising…
The banking industry received more distressing news earlier in the month. Regulators were forced to close 2 more banks bringing the number of bank failures to 22 thus far and only 2.3 months of the year is almost over.
The banks which were shut down are (more…)
News: Rental Woes – Apartment Prices Fall 3% while Vacancies Up 8%
In the wake of the tumultuous real estate industry, the national apartment vacancy rate rose to 8% in the last three months of 2009, according to (more…)
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