|By PR Newswire||
|November 20, 2012 07:51 PM EST||
LOS ANGELES, Nov. 20, 2012 /PRNewswire-iReach/ -- With turkeys defrosting in refrigerators and cans of cranberry sauce flying off the shelves, it's time to sit down and think about what we should be thankful for in today's housing market. If you don't think there's very much to smile about, think again! In fact, there are 3 pros to today's housing market:
1.New construction is going up According to the Commerce Department, the number of newly-constructed homes surged 15% in September. That means builders are now working as fast as they were back in 2008 – clearly a sign that the demand is starting to come back. In fact, there is such a demand for brand new homes in Tampa that there aren't enough construction workers to go around! On a national level, all of that building isn't just good for the housing market. It's also good for the job market. After all, every new house that goes up creates jobs for the people who build it!
2. Existing home sales are up New constructions aren't having all of the fun. The October sales numbers just came out, and the number of existing home sales went up 2.1%. Even better news? The median sales price is 1% higher than it was in October 2011 (right now it's at $178,600). It's a small step, but it's also a step in the right direction.
3.Interest rates are still low You might be tempted to call 2012 the "Year of the Low Interest Rate", thanks to all of the record lows we set this year! And, as the sun starts to set on 2012, 30-year rates are still well under 4%. In fact, right now the average rate on a 30-year fixed mortgage is 3.34% -- yet another all-time record. So, if you're still on the fence about buying or refinancing, these low rates might just make up your mind for you! Of course, there is still plenty of work to do.
You may not be so thankful for these 3 things around the Thanksgiving table this year:
1.Home values Those little gains we're seeing now will take a long time to add up. Unlike the pre-bust housing market – when you could go out, buy a house, and sell it a few months later for a profit – times have changed. In fact, according to a study done by the analytics firm Fiserv, housing prices won't return to their pre-bust levels until 2023.
2.Unemployment With the nation's unemployment rate still hovering around 8%, you can't expect to see a major improvement in the housing market. Obviously, people aren't going to run out and buy houses if they don't have jobs! Even many of the people who do have jobs are afraid to commit to a 15-year or 30-year mortgage. After all, they're one pink slip away from facing a serious foreclosure threat. Many of them would rather rent until things start to level out, rather than risk a financial nightmare.
3.Quantitative Easing The Federal Reserve's plan to buy $40 billion worth of bonds every month for the foreseeable future is designed to keep interest rates low. So far, it's doing that, which is a good thing. However, the Fed says it plans to keep interest rates low until 2015. As a result, there's not really a sense of urgency for buyers to run out and buy NOW. Since they know they have at least two more years of low rates, there's nothing motivating them to take action (and, thus, aid the housing market's recovery) right now.
Hopefully, with another year under our belts, we'll have even more to be thankful for next Thanksgiving!
Daniel Torelli RealtyPin.com, 514-836-1432, [email protected]
News distributed by PR Newswire iReach: https://ireach.prnewswire.com
SYS-CON Events announced today that MediaTek Labs will exhibit at SYS-CON's @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. MediaTek Labs is a global ecosystem initiative supporting Wearables and Internet of Things device creation, application development, and services based around MediaTek chipset offerings. Developers can use the MediaTek LinkIt™ ONE development platform and the LinkIt ONE HDK to easily access the features and functions of the...
Jun. 3, 2015 03:45 PM EDT Reads: 835
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. 8th International Big Data Expo, co-located with 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. As advanced data storage, access and analytics technologies aimed at handling high-volume and/or fast moving data all move center stage, aided by the cloud computing bo...
Jun. 3, 2015 03:45 PM EDT Reads: 1,762
IndependenceIT has been selected by nGenx to power Windows-based DaaS and application delivery on Google Compute Engine to support the delivery of GoldMine Cloud software. For independent software vendors (ISVs) like GoldMine, this expands the theater of operations to increase revenue opportunities while reducing software management and maintenance liabilities. IndependenceIT was selected by application and desktop pioneer, nGenx, to deliver its “Bring Your Own Cloud” strategy to GoldMine and o...
Jun. 3, 2015 03:30 PM EDT Reads: 703
ProfitBricks has an early preview of its new Docker hosting platform. The ProfitBricks Docker platform enables its customers to build fully-portable applications within the ProfitBricks cloud. Unlike other Docker platforms, ProfitBricks’ Docker provides developers and system administrators with a platform with dedicated resources that autoscales the Docker hosts. Early access customers will be able to utilize up to 2,500 CPU core hours as part of ProfitBricks’ early access Docker preview.
Jun. 3, 2015 03:30 PM EDT Reads: 580
“We are a managed services company. We have taken the key aspects of the cloud and the purposed data center and merged the two together and launched the Purposed Cloud about 18–24 months ago," explained Chetan Patwardhan, CEO of Stratogent, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jun. 3, 2015 03:15 PM EDT Reads: 3,990
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jun. 3, 2015 03:00 PM EDT Reads: 3,843
IBM has acquired Blue Box Group, Inc., a managed private cloud provider built on OpenStack. Customers benefit from the ability to more easily deploy workloads across hybrid cloud environments. Financial details were not disclosed. Enterprises are seeking ways to embrace all types of cloud to address a wide range of workloads. Today's announcement reinforces IBM's commitment to deliver flexible cloud computing models that make it easier for customers to move to data and applications across cloud...
Jun. 3, 2015 03:00 PM EDT Reads: 605
The WebRTC Meetup, where WebRTC enthusiasts exchange ideas, is being held on Wednesday, June 10, from 7 pm – 9 pm at the 4th WebRTC Summit, June 9-11, 2015, at the Javits Center in New York City, NY. The WebRTC Meetup is being hosted by the New York WebRTC Developer Group. WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 4th WebRTC Summit continues our tradition of delivering the late...
Jun. 3, 2015 03:00 PM EDT Reads: 567
Platform as a Service vendors in public cloud are mostly focused on the platform for Java, PHP, Python, Ruby and other programming languages. But what about C/C++ and COBOL apps, which continue to be mission-critical for enterprises? Do you bring such apps to the cloud? If so, what are the options for transitioning to cloud? Or would you rather leave such apps on-premises, possibly in a private cloud, and only worry about integrating these applications with new applications in the cloud?
Jun. 3, 2015 03:00 PM EDT Reads: 375
Based upon his work with progressive brands, thought-leader and author of the book, Big Social Mobile, David Giannetto, SVP at Salient Management Company, will provide his unique perspective on how companies of tomorrow will operate as enterprises that seamlessly follow consumers from the physical world, through digital creating a multichannel omni-experience that improves the customer experience while increasing their brand loyalty, customer value and penetrating new consumer segments. His se...
Jun. 3, 2015 03:00 PM EDT Reads: 750
SYS-CON Events announced today DevOps.com will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Launched in 2014, DevOps.com has quickly established itself as an indispensable resource for DevOps education and community building. DevOps.com make it their mission to cover all aspects of DevOps – philosophy, tools, business impact, best practices and more.
Jun. 3, 2015 02:45 PM EDT Reads: 702
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In this session, James Kirkland, Red Hat's Chief Architect for the ...
Jun. 3, 2015 02:30 PM EDT Reads: 1,249
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jun. 3, 2015 02:15 PM EDT Reads: 4,257
Aria Systems, which helps enterprises grow recurring revenue, today announced that its co-founder and inventor of cloud billing Brendan O'Brien, will be a featured speaker at the Cloud Expo, June 9-11 at The Javits Center in New York. Aria also will be demonstrating its Active Monetization platform in Booth #424 on the Expo Floor. O'Brien will lead the following sessions: June 9 - 11:00 am - 11:35 am, Room 1A16 with participants from Constant Contact, MGI Research and ATG Enabling Complex ...
Jun. 3, 2015 02:15 PM EDT Reads: 465
Andi Mann has been serving as Conference Chair of the DevOps Summit since its inception. He is one of the world's recognized leaders in DevOps, and continues to be one of its most articulate advocates. Here are some recent thoughts of his in an interview we conducted in the run-up to the DevOps Summit to be held June 9-11 at the Javits Center in New York City. When did you first start thinking about DevOps and its potential impact on enterprise IT? Andi: I first started thinking about DevOps b...
Jun. 3, 2015 02:00 PM EDT Reads: 1,194