Labor/Economy
Economy Watch: More Housing Indexes Point Upward
U.S. house price appreciation continued in May, according to the Federal Housing Finance Agency, rising 0.7 percent from the previous month, as measured by the agency’s monthly House Price Index.
Economy Watch: Total Existing-Home Sales Dropped
The National Association of Realtors reported that total existing-home sales dropped 1.2 percent in June to an annualized rate of 5.08 million units—including single-family, condos, co-ops and townhouses—from a downwardly revised 5.14 million units in May.
‘Economy Watch’ Podcast with Dees Stribling: Detroit is Hitting the Rocks
Detroit hits the rocks, and Chairmen Bernanke talks tapering before Congress.
Economy Watch: Unemployment Rates Edge Up in Many States
The Bureau of Labor Statistics reported that 28 states experienced unemployment rate upticks in June: 11 states had decreases, and 11 states and the District of Columbia saw no change.
Economy Watch: Detroit Files for Chapter 9
On Thursday, Detroit became the largest city in the nation ever to file for the municipal version of bankruptcy, Chapter 9.
Economy Watch: Downswing in Apartment Construction
The Census Bureau reported that housing starts came in at an annualized rate of 836,000 in June, or 9.9 percent below the May total of 928,000.
Economy Watch: Homebuilders Feeling Optimistic
The National Association of Home Builders reported that its Housing Market Index rose six points over the last month to a score of 57 for July.
Economy Watch: Retail Sales Eke Out Gain
The Census Bureau reported that U.S. retail and food services sales for June were $422.8 billion, an increase of 0.4 percent from the previous month.
‘Economy Watch’ Podcast with Dees Stribling: Mortgage Rates are Up
Mortgage rates are up, but the Fed promises that tapering doesn’t mean it’s going to raise its interest rates.