70 Words
While many fret that existing housing sales have recently been slumping, the angst is misplaced. Since early last year sales have declined 7%, but distressed sales as a percentage of all sales have fallen from 25% of sales to just…
Read MoreIn 2013 the Fed earned interest income of $51.6 billion from its vast holdings of Treasury securities, $36.6 billion in interest from its portfolio of mortgage backed-securities and another $2.2 billion from miscellaneous sources. After paying for its own expenses…
Read MoreThe most interesting thing to come out of last week’s Fed statement wasn’t that the Fed Funds rate will start rising in 2015 or that the unemployment rate isn’t the single most important number, but that the Fed expects the…
Read MoreThe Friday File: A product or service is considered normal if demand for it rises as consumer income rises. Good examples include BMWs, vacations to Hawaii, shopping at Whole Foods, and higher education. An inferior good is one where demand…
Read More2014 is looking good for hotels. Occupancy rates are up 2.1% year-over-year to 64%, the average daily rate (ADR) per occupied room rose 4.8% year-over-year to $114.85 and revenue per room (which includes occupied and non-occupied rooms) was up 7.1%…
Read MoreThe decision by the Chinese government to finally let a domestic bond default occur is good, as it may force the market to start pricing in risk. But, investors have no idea why Beijing allowed this default or what criteria…
Read MoreWith unemployment at 6.7%, close to the 6.5% level at which the Fed has said it would raise short-term rates, the Fed must change its short-term interest rate guidance. The Fed is wrestling with how much slack exists in labor…
Read MoreIn the six New England states and Pennsylvania, the percentage of persons of Irish heritage is greater than 16% and in Boston it is 24.1%. By contrast in Louisiana, Texas, New Mexico, Utah and California the percentage is less than…
Read MoreIn an incontrovertible sign of economic improvement, road congestion is rising. Nationwide, traffic was up 6% in 2013 and traffic jams increased in 61 of the nation’s 100 largest cities compared to just six cities in 2012. The bulk of…
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