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| Renting offers rare bright spot
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| Consider this: real estate leasing as a business sector, which includes things like apartment buildings and commercial rentals, has experienced an average profit growth of almost 8 percent during the last 12 months, according to financial analysis firm Sageworks. By contrast, companies involved in residential building construction have, during the same period, seen their profits drop by more than 11 percent, according to Sageworks' data. For real estate agents and brokers, the picture is even more dire -- they have experienced a drop in profits of more than 20 percent.
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| @ Sarasota Herald Tribune | Posted: 04/21/09 at 0201 EDST
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| Lennar named in lawsuit over tainted Chinese drywall
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| The lawsuit, filed last month in U.S. District Court for the Southern District of Florida, is one of several that have been filed in several states against Chinese drywall manufacturers, builders and suppliers. The plaintiffs claim they bought two homes built by Lennar that were made with the Chinese drywall, which they contend emits sulfur gasses and other fumes, Lennar said in a filing with the Securities and Exchange Commission.
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| @ Tampa Tribune | Posted: 04/21/09 at 0315 EDST
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| Jacksonville economic indicators look better
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| The index of leading indicators for the Jacksonville area rose by 0.17 points in March to 104.91, after jumping up by a revised 2.79 points in February, according to the University of North Florida’s Local Economic Indicators Project.
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| @ Jacksonville Times Union | Posted: 04/21/09 at 0320 EDST
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| Tampa forum tackles foreclosures
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| It's getting easier for homeowners at risk of foreclosure to negotiate with lenders - but expertise is critical in making progress with a massive overload of bad loans.
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| @ Ft. Myers News Press | Posted: 04/21/09 at 0330 EDST
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| Decreases in home inventory are helping some Palm Beach developments more than others
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| In March 2007, there were nearly 27,000 houses and condos for sale in Palm Beach County, according to the Realtor Association of the Palm Beaches. By March 2009, that number had fallen to less than 22,000, a drop of 18 percent.
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| @ Palm Beach Post | Posted: 04/21/09 at 0345 EDST
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| Deere bringing back 68 employees at Davenport Works
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| The Moline-based maker of agricultural equipment also makes construction and logging equipment at the Davenport facility. In mid-February, the company placed about 200 Davenport workers on indefinite layoff; slowing sales have obliged the company to cut back staffing at other plants as well. The workers are set to return April 27.
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| @ Chicago Tribune | Posted: 04/21/09 at 0400 EDST
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| The 2009 MetLife Study of the American Dream
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"More than two years ago MetLife commissioned the first groundbreaking Study of the American Dream to determine how the U.S. public’s perception of the American dream had been impacted by the erosion of corporate and social safety nets. The study uncovered that Americans were struggling with increased
financial obligations and that the “financial burden shift” had profound implications for the American dream. Where previous generations had generally defined the American dream as a combination of homeownership, a good family life and a degree of financial security, the initial MetLife Study of the American Dream found that the dream had shifted — to an almost singular focus on financial security."
Editor's Comment: This is an excellent read
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| @ Met Life | Posted: 04/21/09 at 0415 EDST
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| A Backdoor Nationalization
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The latest Beltway blunder -- and it would be a big one -- is the Obama Administration's weekend news leak that it may insist on converting its preferred shares in some of the nation's largest banks into common equity. The stock market promptly tumbled by more than 3.5% yesterday, with J.P. Morgan falling 10% and financial stocks as a group off 9%, as measured by the NYSE Financials index. Note to White House: Sneaky nationalizations aren't any more popular with investors than the straightforward kind.
Editor's Comment: This is a NECESSARY read for all of us. We should all understand this program.
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| @ Wall Street Journal | Posted: 04/21/09 at 0419 EDST
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| U.K. Inflation Rate Drops to Lowest Level in a Year
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| Consumer prices rose 2.9 percent from a year earlier, compared with 3.2 percent in February, the Office for National Statistics said today in London. The retail price index annual gauge dropped for the first time since 1960.
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| @ Bloomberg News | Posted: 04/21/09 at 0646 EDST
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| German Chancellor Merkel sees signs of crisis bottoming out
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| She was speaking at Hanover trade fair as industry representatives predicted that the worst could be over by the middle of year in the collapse in demand for German exports. However, the notion that Germany’s steepest economic downturn since the 1930s could soon be history is not widely shared. Economists think industrial inventories remain too high for the German economy to turn around in the near term, despite continued drops in production.
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| @ Financial Times - UK | Posted: 04/21/09 at 0652 EDST
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| Canadian Oil patch braced for worst results in years
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| the cold, hard truth: "[First-quarter] results will likely be the worst financial results delivered by the sector in many years," said Andrew Potter, an analyst at UBS Securities. "Not in recent history have we seen a marked drop-off in earnings." Earnings per share at Canadian integrated oil and gas companies will fall by about 70% year-over-year, and about 50% sequentially. Large explorers and producers will also be dinged, with earnings falling 69% year-over-year and 37% sequentially.
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| @ Financial Post - CA | Posted: 04/21/09 at 0655 EDST
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