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QUOTE OF THE WEEK... "I find the great thing in this world is
not so much where we stand, as in what direction we are moving."--Oliver
Wendell Holmes, Sr., American physician, professor, and writer
INFO THAT HITS US WHERE WE LIVE... Housing Starts in May did not stand in a very comfortable place, down 11.1% from April. But let's take the advice of the famed Boston Brahmin and consider the direction--up 5.1% from a year ago. Single-family starts are up even more--6.8% in the past year. For more input on direction, we look to the 12-month moving average, and that's at its highest level since August 2008. More rational minds, not easy to find these days, also pointed out that May's dip in housing starts followed April's spectacular 22.1% gain. And, finally the total number of homes under construction (started but not finished) was up 0.5% in May and is up 14.5% from a year ago.
New Building Permits stood in a very decent place, shooting up 11.8% in May, following their 9.8% April increase. Permits are now at their highest level since 2007 and, yes, that's before the housing downturn. This of course bodes well for future Housing Starts and New Home Sales. No wonder the National Association of Home Builders confidence index shot up five points in June, to 59, and the index of present sales hit its highest level since 2005. Lastly, the Consumer Financial Protection Bureau wants to postpone starting its TRID regulations from August 1 to October 1. These regs could stall closings just before the start of the school year, so it would be great if the delay is approved.
BUSINESS TIP OF THE WEEK... Neuroscientists have shown that when multitasking, your brain is less effective at each individual task. You're doing more simultaneously, but hurting your productivity overall. Whenever possible, separate tasks and focus on one at a time.
INFO THAT HITS US WHERE WE LIVE... Housing Starts in May did not stand in a very comfortable place, down 11.1% from April. But let's take the advice of the famed Boston Brahmin and consider the direction--up 5.1% from a year ago. Single-family starts are up even more--6.8% in the past year. For more input on direction, we look to the 12-month moving average, and that's at its highest level since August 2008. More rational minds, not easy to find these days, also pointed out that May's dip in housing starts followed April's spectacular 22.1% gain. And, finally the total number of homes under construction (started but not finished) was up 0.5% in May and is up 14.5% from a year ago.
New Building Permits stood in a very decent place, shooting up 11.8% in May, following their 9.8% April increase. Permits are now at their highest level since 2007 and, yes, that's before the housing downturn. This of course bodes well for future Housing Starts and New Home Sales. No wonder the National Association of Home Builders confidence index shot up five points in June, to 59, and the index of present sales hit its highest level since 2005. Lastly, the Consumer Financial Protection Bureau wants to postpone starting its TRID regulations from August 1 to October 1. These regs could stall closings just before the start of the school year, so it would be great if the delay is approved.
BUSINESS TIP OF THE WEEK... Neuroscientists have shown that when multitasking, your brain is less effective at each individual task. You're doing more simultaneously, but hurting your productivity overall. Whenever possible, separate tasks and focus on one at a time.
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