Snippets on the economy...... Very interesting

Here are three snippets on the economy that Dan O'Brien of Educated Mortgage Services sent out in his Real Estate Report. Very Interesting......

Some economic analysts say that the possibility that the economy will go into overdrive and inflation will skyrocket is a much more frightening possibility than the current recession. One inflation hedge nearly all of them point to is real estate. Owning it outright is the best scenario, but if that’s not possible, a low-rate, 30-year fixed home loan is the next best thing. As inflation drives up salaries, home loan payments will stay the same, analysts point out. Source: USA Today

It looks like sales of new homes have finally bottomed out. The Commerce Department reported last week that after hitting a record low in January, 74 percent lower than they were in July 2005, new home sales rose in February and were flat in March. "We believe that the bottom is at hand and that sales will begin turning in the second half of this year," writes IHS Global Insight economist Patrick Newport. "As previous recessions show, demand for new homes does not evaporate altogether, even in the hardest of times." Median sales prices are still falling, down 12 percent in March compared to the same month the previous year. Analysts say they are likely to remain low until inventory is sold off. Source: The Associated Press

Walk Score identifies San Francisco as the most walkable city in the United States, mainly due to the close proximity of amenities in its Chinatown, Financial District, and Downtown neighborhoods. New York’s Tribeca, Little Italy, and Soho neighborhoods helped it land a No. 2 ranking on the Web site’s list of the most walkable cities, with Boston, Chicago, Philadelphia, Seattle, the District of Columbia, Long Beach, Los Angeles, and Portland rounding out the top 10, in that order. Experts say more people are moving to urban areas as a way to spend less money on gas, though convenience and exercise also play a role. The Center for Neighborhood Technology–which insists a shift in transportation spending is necessary to make mass transit more efficient–says individuals reduce their annual gas expenses by as much as $2,100 when they live in urban areas versus outer-ring suburbs. Source: Seattle Times


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