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QUOTE OF
THE WEEK... "Once you replace
negative thoughts with positive ones, you'll start having positive
results." --Willie Nelson, American singer-songwriter, author, and
actor
INFO THAT HITS US WHERE WE LIVE... These days the negative thoughts tend to come from the media, while the positive ones are usually the facts the media overlooks. Take Construction Spending, reported in the headlines as dropping in September for the second month in a row. These two miniscule monthly drops of less than 1% were true, but those are overall readings for all types of construction, including highways and commercial and public buildings. Residential construction spending was in fact UP 0.4% for September, and that's the important read for housing. In any case, overall construction spending, compared to a year ago, is UP almost 3%.
Mortgage applications were also reported down for the week. But this drop was driven by a decrease in refinance applications. The seasonally adjusted Purchase Mortgage Applications Index was actually up a nice 3% from the week before, and that's a good indicator for the growing health of the housing market. In a note to clients, a major economic research consultancy said the monthly increase in home prices in September suggests the market is putting any mid-year weakness behind it. Their property economist said it "was the strongest seasonally-adjusted increase in six months" and noted that "monthly price gains have accelerated gently over the past four months."
BUSINESS TIP OF THE WEEK...Restraint is crucial, especially in a growing business. Growth is fantastic, but smart growth is even better. Get a good plan, go slow, grow with intelligence.
INFO THAT HITS US WHERE WE LIVE... These days the negative thoughts tend to come from the media, while the positive ones are usually the facts the media overlooks. Take Construction Spending, reported in the headlines as dropping in September for the second month in a row. These two miniscule monthly drops of less than 1% were true, but those are overall readings for all types of construction, including highways and commercial and public buildings. Residential construction spending was in fact UP 0.4% for September, and that's the important read for housing. In any case, overall construction spending, compared to a year ago, is UP almost 3%.
Mortgage applications were also reported down for the week. But this drop was driven by a decrease in refinance applications. The seasonally adjusted Purchase Mortgage Applications Index was actually up a nice 3% from the week before, and that's a good indicator for the growing health of the housing market. In a note to clients, a major economic research consultancy said the monthly increase in home prices in September suggests the market is putting any mid-year weakness behind it. Their property economist said it "was the strongest seasonally-adjusted increase in six months" and noted that "monthly price gains have accelerated gently over the past four months."
BUSINESS TIP OF THE WEEK...Restraint is crucial, especially in a growing business. Growth is fantastic, but smart growth is even better. Get a good plan, go slow, grow with intelligence.
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