Job Market Bouncing Back with 222,000 New Jobs Added

Sources:

Today’s News Synopsis:

Aaron Norris of the Norris Group gives this week’s Norris Group real estate headline roundup.  The job market seems to be bouncing back with 222,000 new jobs being added and the unemployment rate remaining the same.  Fannie Mae’s latest Home Purchase Sentiment Index showed consumer confidence is increasing with sentiment increasing 2.1 percentage points to a new record high of 88.3.  More renters are choosing to save money by continuing to renew their leases and put off moving.

In The News:

NAHB“Home Buying a Strong Boost to Overall Economy, NAHB Study Shows” (7-6-2017)

“A new consumer spending analysis from the National Association of Home Builders (NAHB) highlights another reason why home building helps drive a healthy economy: In their first year of ownership, new home buyers spend about $10,601 on appliances, furnishings and home improvement projects – 2.6 times as much as other home owners in a typical year.”

CNBC – “US nonfarm payrolls total 222,000 in June vs 179,000 expected” (7-7-2017)

“The U.S. job market roared back to life in June, with a better-than-expected 222,000 new positions created in June while the unemployment rate held at 4.4 percent, according to a government report Friday.”

Zillow – “Renters Saved Thousands by Renewing Instead of Moving” (7-7-2017)

“Renewing a lease instead of moving to a new apartment can mean major savings for renters.”

Bloomberg – “Fed Says Post-Crisis Rules May Sap Bond-Market Liquidity” (7-7-2017)

“The Federal Reserve acknowledged that post-crisis financial regulations may be crimping bond-dealers’ incentives to make markets, while also saying that the impact on liquidity appears to be limited.”

Fannie Mae – “Housing Sentiment at Record High as Consumers’ Confidence in Home-Selling Environment Strengthens” (7-7-2017)

“The Fannie Mae Home Purchase Sentiment Index (HPSI) increased 2.1 percentage points in June to 88.3, matching the all-time high from February of this year.”

Investor’s Business Daily – “Real Estate Tech Stock Set to Close on New Breakout” (7-7-2017)

“While homebuilders like LGI Homes (LGIH), Pulte Group (PHM) and MDC Holdings (MDC) set up or break out, RealPage (RP), which provides management software for the rental housing industry, may be ready to pop into a new buy zone.”

Bloomberg “In America’s Richest State, the Capital Flirts With Bankruptcy” (7-7-2017)

“The hedge-fund enclave of Greenwich, on the Connecticut Gold Coast, is about 100 miles and a world away from the state capital. But the fiscal crisis in Hartford, the historic center of the American insurance industry, is fast becoming more representative than mansions or yachts of the wealthiest state in the U.S.”

 

Bruce Norris will be speaking at An Intimate Evening with Bruce Norris at Prosperity Through Real Estate on Tuesday, July 11.

Bruce Norris will be presenting his latest talk 10 Life-Changing Days of a Real Estate Investor with InvestClub for Women on Wednesday, August 16.

Bruce Norris will be presenting his latest talk 10 Life-Changing Days of a Real Estate Investor with SJREI on Thursday, September 14.

Looking Back:

The rate on seriously delinquent loans decreased to below 1/4 of where they were at the peak.  Mortgage rates were also at record lows with 30-year rates at 3.41%.  Following the situation with Brexit, economists planned to spend more time reviewing the jobs report for June.

 

For more information about The Norris Group’s California hard money loans or our California Trust Deed investments, visit the website or call our office at 951-780-5856 for more information. For upcoming California real estate investor training and events, visit The Norris Group website and our California investor calendar. You’ll also find our award-winning real estate radio show on KTIE 590am at 6 pm on Saturdays or you can listen to over 170 podcasts in our free investor radio archive.

 

Tags: , , , , , , , , , , , , , , , ,

Leave a Reply