Housing’s Place in GDP Growth

first_img The Best Markets For Residential Property Investors 2 days ago Subscribe Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Investment, News  Print This Post Expectations for full-year 2020 and 2021 real gross domestic product (GDP) growth were improved by one-tenth to 2.2% and 2.1%, respectively, according to the latest commentary from the Fannie Mae Economic and Strategic Research (ESR) Group.  The Group’s January jobs report featured solid wage growth and better-than-consensus non-farm payroll growth, including in residential construction.On housing, the ESR Group expects low mortgage rates and strong demand to help grow residential fixed investment at a 3.9% annualized pace in 2020, following last year’s contraction of 0.1%. That demand is expected to meet the moderate uptick in inventory predicted for the latter part of the year. Consumer sentiment toward housing is approaching an all-time high, and the lower interest rate environment also appears to have fueled a new surge in mortgage refinance applications in January.While risks remain skewed to the downside and include the potential overvaluation of equity and bond markets and a possible worsening of the coronavirus situation, notable upside risks include a further strengthening of consumer spending and the effects of monetary policy softening domestically and abroad. The ESR Group also maintained its expectation of no further rate cuts from the Federal Reserve in 2020.“The U.S. economy’s resilience, rooted in labor market strength and improved household balance sheets, was on display in January amid greater market uncertainty, including Boeing’s production schedule and the effect of the coronavirus on the global economy,” said Fannie Mae Senior Vice President and Chief Economist Doug Duncan. “However, corporate earnings continue to impress and a jobs report that came in well above consensus helped mitigate some of the growing cynicism. With business fixed investment poised to rebound in the second half of the year, we upgraded our forecast for full-year 2020 headline growth by one-tenth to 2.2%. We also continue to maintain our call that the Fed will leave the federal funds rate unchanged in 2020, despite forward markets’ beginning to price in the increased probability of a rate cut.”“Looking ahead, we continue to anticipate that the economy’s resilience will help keep housing on a firm growth track,” Duncan continued. “In fact, our updated housing market forecast shows greater strength in essentially every part of the housing market extending through the first half of 2021. The limiting factor for home sales, as well as the primary driver of home price appreciation, remains the supply shortage. Barring an uptick in the inventory of existing homes put on the market, in the near term we’re forecasting relatively flat home sales until higher construction activity can be sustained, which we foresee will be the case later this year.” Data Provider Black Knight to Acquire Top of Mind 2 days ago Housing’s Place in GDP Growth Economy markets 2020-02-18 Seth Welborn Related Articles Sign up for DS News Daily Share Save Home / Daily Dose / Housing’s Place in GDP Growth The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img Tagged with: Economy markets Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: SingleSource Launches Deed in Lieu Title Product Next: Michael Bloomberg Proposes Fannie Mae, Freddie Mac Merger Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago February 18, 2020 1,287 Views About Author: Seth Welborn Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. last_img read more

Five Month Old Infant Moves High Court Seeking Ban On Vehicular Movement Inside Cubbon Park

first_imgNews UpdatesFive Month Old Infant Moves High Court Seeking Ban On Vehicular Movement Inside Cubbon Park Mustafa Plumber22 Dec 2020 8:00 PMShare This – xThe Karnataka High Court on Tuesday issued notice to the state government and other respondents on a public interest litigation filed by a five-month-old infant, seeking to ban traffic movement within and through Cubbon park, in Bengaluru. A division bench of Justice B V Nagarathna and Justice Nataraj Rangaswamy issued the notice directing the respondents to file their statement…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThe Karnataka High Court on Tuesday issued notice to the state government and other respondents on a public interest litigation filed by a five-month-old infant, seeking to ban traffic movement within and through Cubbon park, in Bengaluru. A division bench of Justice B V Nagarathna and Justice Nataraj Rangaswamy issued the notice directing the respondents to file their statement of objections. The court though refused to grant any interim relief as prayed by the petitioners counsel. The court said granting of interim relief would amount to final order. The petition filed through advocates Anjan Dev Narayana and Advocate Annapoorna Seetharam, states that as per the National Disaster Management Authority guidelines, the Department of Horticulture shut down the Park from access by the general population from 25.03.2020 till 20.05.2020. The impact of the lockdown on the quality of the Park itself was highly positive, in that there was a reduction of suspended particulate matter and carbon monoxide levels. The state government by an order dated 08.09.2020 directed the Department of Horticulture to open the parks within its jurisdiction. Following which, the Cubbon Park Traffic Police issued a letter requesting the Deputy Director of the Department of Horticulture to open the Park to traffic. Then on 09.09.2020 the Joint Director of the Department of Revenue, Mr. K. Umapathi, amends the order dated 08.09.2020 amending the guidelines issued on 08.09.2020 to include pedestrian and vehicular movement within public parks. The plea states that the actions of the respondents have a direct impact on the health, wellbeing and quality of life of the Petitioner, who as an infant is made to bear the burden of the environmentally irresponsible Respondents. Further, it is said that actions of respondents impinge on the rights of the petitioner to enjoy pollution free air and water and endangers and impairs his quality of life and is a clear derogation of his constitutional rights. The plea says that “The idea of ensuring that there are no motorized vehicles within the Park is neither novel, nor radical. It is submitted that over a decade ago, traffic was freely allowed within the Park till the Government of Karnataka ceased allowing buses, auto rickshaws and transport vehicles through the Park. It is further submitted that the Department of Horticulture, which also manages Lalbagh, has successfully managed to ensure that there are no thoroughfares in Lalbagh from as early as 1975- this decision has gone unhindered and unchanged till date.” The plea relies on a study carried out by a team of researchers from the Indian Institute of Science, Bengaluru, to understand the traffic impact should the Park’s thoroughfares be closed to vehicular traffic. The said researchers concluded that there was no substantial reduction in traffic or improvement of volume to capacity ratio if the Park is opened for traffic. They also noticed that there would be a net reduction in CO2 and PM2.5 emissions as compared to when the traffic is allowed inside the Park. The report has recommended closure of the Park to vehicular traffic after examining the significant improvement to the environment when vehicular traffic was stopped, and an absence of any impact on the traffic when the Park is open to vehicular traffic. The petition states that the final decision to reopen the Park remains with the Department of Horticulture as per its policies, and neither the Cubbon Park Traffic Police Station nor the Karnataka State Disaster Management Authority have any right or authority in respect thereof. Such an act is clearly ultra vires and illegal. Further it is said that the general public and the civil society have petitioned the Government of Karnataka via online petitions and have spoken to several notable citizens who are up in arms about the decision of the State to permit vehicular traffic in the Park. It is also claimed that after that the Department of Horticulture allowed restricted access to the Park and only allowed walkers, joggers and cyclists into the Park at specified times. Earlier, the Cubbon Park Walkers Association had filed a public interest litigation seeking directions that the state government consider the recommendations made by the Directorate of Urban Land Transport which had suggested for stopping vehicular traffic inside the park. The court had disposed of the said matter on 22.10.2020 with directions to the state to consider the said recommendations and take a decision on the same within a period of 6 weeks from the date of the judgment.Click Here To Download Petition[Read Petition]Subscribe to LiveLaw, enjoy Ad free version and other unlimited features, just INR 599 Click here to Subscribe. All payment options available.loading….Next Storylast_img read more

Napolcom to probe RDEU ‘abduction’

first_imgHe said he was forcibly taken by threeto four men into a white van that stopped in front of him while he was waitingto catch a jeepney ride at around 5:30 p.m. Napolcom-6 director Atty. Joseph Celissaid his office would be conducting an investigation. The National Police Commission(Napolcom) will investigate what really happened to 36-year-old Anthony WilliamLandicho of Nueva Valencia, Guimaras on Rizal Street, City Proper here on March3. ILOILO City – Abduction or buy-bustoperation? RDEU chief Police Lieutenant ColonelJersey Besas could not be reached for comment as this was being written./PN The Iloilo City Police Office willconduct a parallel probe, said Police Colonel Eric Dampal, city policedirector. Landicho said he was surprised thatthe men remitted him to the Arevalo police station and that he was beingcharged with violation of the Comprehensive Dangerous Drugs Act 2002. Landicho, however, denied he wascaught in a buy-bust. center_img According to the Arevalo policestation, operatives of the Police Regional Office 6’s (PRO-6) Regional DrugEnforcement Unit (RDEU) turned over Landicho to the station; the operativesclaimed to have arrested him in a buy-bust operation Tuesday last week. The video was taken by a concernedcitizen who happened to be in the area when the incident happened. It wasshared to DyFM Bombo Radyo. A video of Landicho being forced intothe van seemed to support his claim of abduction. He further claimed his P20,000 cashwas gone. “The police should always observelegal procedures in conducting operations,” Celis said. Landicho is currently detained at thepolice station of Arevalo district. last_img read more

Clippers hoping for different outcome vs. Rockets

first_imgPLAYA VISTA >> The last time the Rockets and Clippers met, Chris Paul was sidelined, James Harden had a triple-double and the night ended with the entire Rivers family — those who work for the Clippers at least — ejected and watching a 24-point loss from the visitors’ locker room.“Half the team was thrown out the last time,” Doc Rivers said prior to Tuesday’s practice. “Coach I heard was thrown out, I’m not sure.”The Clippers will have Paul and, yes, both the Riverses when the Rockets come to Staples Center on Wednesday. Whether the result will be any different, remains to be seen.For the Clippers, the gameplan starts, but certainly does not end, with leading MVP candidate James Harden, who is averaging 28.8 points per game and a career-high 11.3 assists. His more than three 3-pointers per game are also the best in his career. “They spread the floor, they space the floor and (Harden) attacks,” Rivers said. “He’s probably the toughest cover in the league one-on-one, so he clearly draws in help, and when he does, give him credit, he makes the right pass at the right time.”It’s been a dramatic development for both Harden and the Rockets.“They play the way they play for a reason,” Paul said. “They’re going to shoot 3s (Wednesday) night. Ain’t like they’re going to start shooting mid-range against us.”Houston (42-19) leads the NBA in 3-pointers made and 3s attempted, are second in points per game and assists and, oh, by the way the Rockets occupy the third seed the Clippers (36-23) are still ostensibly chasing in the playoff hunt.Blowout losses last week to the conference leading Warriors and Spurs did not help the Clippers argument that they are ready to contend. At full strength, finally, they would like to see that change. “I don’t think we would have rewrote any story had we beat them,” Paul said. “They (weren’t) going to crown us then. I don’t think it’s over for us now.”Guarding Harden, Rivers said, will be a collective effort, as it always is against elite players. Paul, J.J. Redick, Austin Rivers and Luc Mbah a Moute “are the four main guys” who will take turns on Harden, Doc Rivers said. “We’ve learned with Harden, there’s not one guy that’s going to guard him for a whole game,” Doc Rivers said. “I just think it’s impossible.”The Clippers historically have been able to slow Harden, although Paul said he is not “a believer in all that ‘what’s happening in the past’ stuff.’”“Especially,” he said, “when you’re talking about great players.”Speaking of great players, Paul’s presence should at least cause some headaches for the Rockets and coach Mike D’Antoni.On Sunday, in his second game back on the court since tearing a ligament in his thumb, Paul shot just 4-of-18 from the field but managed 15 points to go with 17 assists and 9 rebounds.“I feel good,” he said, “every game is different. I’m just happy to be back on the court.”center_img Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more