Catching up

QUOTE OF THE WEEK..."Discontent is the first necessity of progress"--Thomas Edison, American inventor
DID YOU KNOW?... Fiscal policy refers to decisions by the President and Congress that usually relate to taxation and government spending and have the goals of full employment, price stability, and economic growth.  Shared by Bill Bazzel
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Nat'l Real Estate Post:
The Senate actually confirmed Richard Cordray as head of the CFPB.  So, all the rules he put in place during his "recess appointment" will be enforced.
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Estates, condos are top sales of first half 2013

Metro Atlanta’s luxury home market is poised for a solid year. The most expensive residential sale in the works so far in 2013 is part of a 16-acre site in Roswell. Its owners are already celebrating the deal by living on a yacht for the rest of the year. The home at 109 Goulding Place is under contract to an unknown developer for $6.9 million.
Shared by Sonja Bullard in Angel Oak Weekly
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According to a RealtyTrac report, 136,184 single-family home flips occurred in the first six months of 2013, which is up 19% from the same time period in 2012 and a 74% increase from the six-month span two years ago.
Property flippers—investors who buy a home and then sell the same property within six months—made an average gross profit of $18,391 on single-family home flips in the first half of 2013. This figure represents a 9% gross return on the initial purchase price, the Irvine, Calif.-based firm said.
By Evan Nermaroff in Origination News
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Stephen White:

Rent Prices vs. Home Prices

Since 2011 the price of rent has increased 60% while the price of homes decreased 46% in the US. Who says it's not an investor market?!

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Some economists are raising warning flags over the fact that 77 percent of this year's new jobs are part-time, saying the numbers provide a bleak portrayal of the labor market. -- Dan Well in Money News
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Nat'l Real Estate Post:
If we take Fannie Mae and Freddie Mac out of conservatorship then we can solve some problems.  Those are:  1.  The senate doesn't like Mel Watt as head of FHFA; 2.  Need private capital; 3.  Need solutions; 4.  Investors and private funds are coming out with lawsuits against the GSE's for money they think the GSE's owe them.  The director can issue the order to take the GSE's out of conservatorship.  Fannie and Freddie are the third most profitable company behind Exxon and Apple.  However, it probably won't happen because the gov't owns the company lock stock and barrel.  Also, the solution is cheap, easy and makes sense.  But we are talking about the Gov't.  It probably won't happen.
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Shared by Guy Kawasaki