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| Sarasota County sales decline, but not as steeply
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| The local economy showed some signs of life after a terrible January, despite Sarasota County businesses posting a ninth consecutive month of double-digit declines in sales. State sales tax collections were still posting monthly increases as late as last July, though the increases were small and far below those recorded during the boom. The slide in Southwest Florida, though, began much earlier. Sales were down in Sarasota County all 12 months in 2008 and were down more than 10 percent a month beginning in July. The biggest losses were in January.
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| @ Sarasota Herald Tribune | Posted: 05/01/09 at 0201 EDST
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| Florida legislature agrees on key home insurance legislation
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| Among other things, the legislation would: Allow Citizens Property Insurance Corp. to increase policyholder premiums by up to 10 percent a year until its rates are considered financially sound; Citizens rates have been frozen since 2006. Gradually reduce the $29 billion Florida Hurricane Catastrophe Fund by $12 billion; Allow private insurers to pass certain backup coverage costs to customers adding up to no more than a 10 percent average annual premium increase;
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| @ Ft. Lauderdale Sun Sentinel | Posted: 05/01/09 at 0315 EDST
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| Gainesville apartment vacancies double
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| Gainesville apartments had twice as many vacancies and lower average rents this year. Vacancy rates increased from 6.5 percent in March 2008 to 13 percent in March 2009. In 2007, vacancy was 2.8 percent. Vacancy rates are highest in newer complexes, with those less than a year old 40.8 percent empty and those 1 to 5 years old 18.3 percent vacant.
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| @ Gainsville Sun | Posted: 05/01/09 at 0320 EDST
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| Life may take Visa, but Orlando area tax offices won't
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| Central Florida tax collectors are dropping Visa over a dispute about a fee to cover credit-card transaction costs. As of today, May 1, the Orange County tax collector will stop honoring Visa cards for any kind of transaction at any of the offices and on the Web site. Tax collectors in Osceola, Polk, Lake and Volusia counties will accept Visa for now online but not at any of their offices. They say they have no other choice because Visa is prohibiting them from charging a user fee to cover what it costs to process payments made with the cards.
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| @ Orlando Sentinel | Posted: 05/01/09 at 0330 EDST
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| 30-Year Fixed Rate Mortgage Ties Record Low Reached Earlier in April
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| Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.78 percent with an average 0.7 point for the week ending April 30, 2009, down from last week when it averaged 4.80 percent. Last year at this time, the 30-year FRM averaged 6.06 percent. The 30-year FRM now equals the record low that was set the week of April 2, 2009. It has never been recorded lower in Freddie Mac's survey, which goes back to 1970.
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| @ Freddie Mac | Posted: 05/01/09 at 0345 EDST
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| Decatur, Illinois housing market offers many opportunities
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| A survey of the local housing scene after the apocalypse in values engulfing the national real estate market does reveal a changed landscape. On the one hand, it's tougher to get qualified for loans, but rock-bottom interest rates plus tax breaks reward those with sterling credit. And while fewer homes are selling, on average, in a local economy battered by some serious job losses, houses are spending less time on the market compared to this time a year ago and often sell for much higher prices.
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| @ Decatur Herald & Review | Posted: 05/01/09 at 0400 EDST
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| The hedge fund of Foggy Bottom
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If you do not adjust for risk, the Fed is making good money for Uncle Sam. Like Wall Street’s finest, the Fed makes money on a spread. Its main source of funds comes from issuing cash, since currency in circulation is, in effect, an interest-free loan by the public to the central bank. The interest it earns on its loans and securities is almost pure profit, or “seigniorage,” most of which it remits to the Treasury. Last year the central bank reported a whopping $43 billion in operating income.
Editor's Comment: This is a good read
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| @ The Economist | Posted: 05/01/09 at 0415 EDST
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| Personal income decreased $34.4 billion, or 0.3 percent in March
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| Real disposable income increased less than 0.1 percent in March, in contrast to a decrease of 0.3 percent in February. Real PCE decreased 0.2 percent, in contrast to an increase of 0.1 percent.
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| @ Bureau of Economic Analysis | Posted: 05/01/09 at 0419 EDST
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| Libor May Fall to 1% for First Time Since 2003 as Markets Thaw
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| The London interbank offered rate that financial companies charge for three-month dollar loans may fall to as low as 1 percent today for the first time in six years as central banks and governments unlock credit markets.
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| @ Bloomberg News | Posted: 05/01/09 at 0646 EDST
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| Mexico Resort Real Estate Update
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Mexico seems to be one of the few countries in the world that appears to be weathering the storm without too much damage. Yes the peso is down and unemployment up, but overall the economy seems relatively strong.
Editor's Comment: This is a good read
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| @ Bandaras News Puerto Vallarta, MX | Posted: 05/01/09 at 0652 EDST
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| Bermuda business boosted by US red tape.
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| Bermuda's business growth has been boosted not by lax tax laws here but by burdensome bureaucracy in the States.
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| @ Royal Gazette Bermuda | Posted: 05/01/09 at 0655 EDST
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