U.S. consumer spending – coupled with easing inflation and resilient hiring in the third quarter – raises hopes for a soft landing to offset a possible recession. WASHINGTON – Shrugging off higher interest rates, America’s consumers spent enough to help drive the economy to a brisk 5.2% annual pace from July through September, the government … Read more
For the second month in a row, private insurers took more than 90,000 policies from the Citizens Property Insurance Corp., the state-run “insurer of last resort.” TALLAHASSEE, Fla. – Seven carriers last week assumed a total of 92,886 policies as part of an effort to reduce the number of homes insured by Citizens, which was … Read more
After three monthly declines, the measure of Americans’ attitudes increased to 102.0 in Nov. from Oct.’s 99.1, largely due to an upswing in attitudes about the future. monthly consumer confidence report from the Conference Board. The index rose above 100 in November to 102.0, an increase from 99.1 in October. The Present Situation Index – … Read more
To measure housing-cost inflation, the Consumer Price Index uses “the current cost to rent the house you own,” even though many mortgage payments won’t change. NEW YORK – The U.S. Bureau of Labor Statistics, which compiles the Consumer Price Index (CPI), doesn’t measure the cost of homeownership within home prices. Instead, it estimates what a … Read more
The Sarasota Chamber brought local leaders in to discuss the housing shortage after 73% of local businesses said it affects their ability to recruit and retain workers. SARASOTA – The Sarasota Chamber and the area’s largest philanthropic organizations came together with members of the business community recently to present ideas on ways to solve a … Read more
NAHB: Attitudes about current production conditions for multifamily housing ranked low, while attitudes about occupancies in existing apartments rated highly positive. WASHINGTON – Confidence in the market for new multifamily housing was in negative territory for the third quarter, according to the National Association of Home Builders’ (NAHB) recent Multifamily Market Survey (MMS). The MMS … Read more
Nearly 6,000 policies were added last week. But that number could drop as 7 insurers were approved to assume as many as 202K policies from Citizens this week. TALLAHASSEE, Fla. – The state’s Citizens Property Insurance Corp. added nearly 6,000 policies last week and topped 1.344 million overall, according to data posted this week on … Read more
WASHINGTON – Tracy Kasper was installed as 2024 president of the National Association of Realtors® during the 2023 NAR NXT, the Realtor® Experience, in Anaheim, Calif. With more than 30 years in real estate, Kasper, a Realtor from Nampa, Idaho, is broker-owner of Berkshire Hathaway HomeServices Silverhawk Realty. She has served on NAR’s board of … Read more
Frustrated would-be home buyers may be spending money that would have gone toward a house on current home renovations, vacations or on 529 college savings accounts. NEW YORK – Potential home buyers are deferring their first house hunts not just for a few months, but for years and finding other ways to use the money … Read more
While the season ends Nov. 30, restoration efforts from Hurricane Idalia will go on for years in rural N. Florida, especially for those in the agriculture industry. TALLAHASSEE, Fla. – For a second consecutive hurricane season, Florida took a direct hit from a major storm. But while the 2023 season will end next week, restoration … Read more
© 2024 Galleria International Realty
