A Look Ahead at the 2018/2019 Housing Market

first_img Home Prices Home Sales Housing Inventory inventory shortages NAR National Association of Realtors 2018-05-25 David Wharton Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Home Prices Home Sales Housing Inventory inventory shortages NAR National Association of Realtors Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / A Look Ahead at the 2018/2019 Housing Market May 25, 2018 5,204 Views  Print This Post Previous: Dodd-Frank Reform and Tenant Protections in Foreclosure Next: Guaranteed Rate Partners with DocMagic to Cut Closing Time About Author: Scott Morgan With the economy on cruise control and a solid labor market, it would seem like ideal conditions for brisk home sales. The fly in that ointment is that there just aren’t enough homes for sale to drive sales totals higher.That, however, could change by the end of this year. Such is the perspective of Lawrence Yun, Chief Economist of the National Association of Realtors. Yun presented his 2018 midyear forecast during the 2018 REALTORS Legislative Meetings & Trade Expo, where he said that, despite headwinds, a moderate and multiyear increase in home sales is likely ahead. Home sales rates cooled noticeably last year. According to NAR, after accelerating 3.8 percent in 2016, existing home sales rose only 1.1 percent to 5.5 million in 2017. Yun said he expects that rate to bump to almost 2 percent this year and then turn into 5.7 million home sales next year.“Overall fundamentals remain solid, driven by a growing economy and steady job creation, which will sustain home sales in 2018 slightly above last year’s pace,” Yun said. “The worsening housing shortage means home prices are primed to rise further this year too, hindering affordability conditions for homebuyers in markets across the country.”Until then, the widespread shortage of homes for sale is the major factor limiting sales, Yun said. Home sales have risen modestly since the start of the year, but without more supply to satisfy demand and alleviate the upward pressure on prices, contract activity is likely to remain flat and will more or less continue sideways through the end of the year. According to NAR, total housing inventory at the end of March was 1.67 million existing homes available for sale. That’s 7.2 percent lower than a year ago when there were 1.8 million. Inventory has trended steadily downwards for the past five years, Yun said, and the country is “experiencing the lowest inventory levels in a generation.” Unsold inventory, he said, is at a 3.6-month supply, which is down from 3.8 months a year ago.Danielle Hale, Chief Economist at Realtor.com, who also spoke at the expo, said there are 250,000 fewer starter homes (those priced under $200,000) now than there were two years ago. The shortage has pitted millennials, boomers, and inventors against each other for a smaller pool of affordable inventory.“There is reason for optimism ahead though,” Hale said. “We are starting to see new listings grow in recent months; the inventory shortage isn’t over, it took us years to get into an inventory rut, so it’s going to take us years to get out of it, but we do see signs of a turnaround.”While consumer optimism for finding a home is waning, Hale said buyers aren’t giving up their dreams. “Buyers know it’s tough,” she said. “Thirty-five percent of shoppers anticipate a lot of competition, but they remain optimistic, and more than 70 percent expect to close in 2018.” Related Articles The Best Markets For Residential Property Investors 2 days agocenter_img Sign up for DS News Daily A Look Ahead at the 2018/2019 Housing Market Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Scott Morgan is a multi-award-winning journalist and editor based out of Texas. During his 11 years as a newspaper journalist, he wrote more than 4,000 published pieces. He’s been recognized for his work since 2001, and his creative writing continues to win acclaim from readers and fellow writers alike. He is also a creative writing teacher and the author of several books, from short fiction to written works about writing. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Journal, Market Studies, News Subscribelast_img read more

Trail Mix – Organic Marketing Through Music With L.C. King Manufacturing

first_imgThanks to a kick ass denim company from Bristol, Tennessee, I’m letting my hipster love light shine.Okay. Maybe not full on hipster. This dad bod can’t do skinny jeans. But I have been smitten by the Pointer Brand chore coats made at L.C. King Manufacturing and my oldest son says I look like a hipster when I wear one, so I just have to (happily) let it ride.After ten years of being involved with the music scene in and around the cities of Bristol (TN and VA), I recently began to notice that more and more of the bands coming to town have been rocking these killer denim jackets and jeans. The look was both rugged and hip and piqued my interest. Imagine my delight when I found that this denim garb was being made just a block south of State Street.That I had begun to notice L.C. King’s street wear on the musicians around town was no accident. Chris Stewart, marketing guru for the company, recognized that L.C. King’s philosophy is inextricably wound with the musical heritage of the city and he set out with a plan, soon after arriving at the company last year, to get L.C King’s product on musicians and in front of music fans.BRO-David-Gans-LC-King-07That’s a plan I can get behind and I found myself wanting to see the factory to get more of the story.As good fortune would have it, I was involved with bringing David Gans, noted musician and Grateful Dead author, to the Birthplace of Country Music Museum back in April and was able to coordinate a trip through the factory with Stewart as part of Gans’ Bristol experience.Our tour started around noon and, for the next three hours, I was held spellbound by Stewart, who walked us through the factory while recounting the tale of the family run (for four generations) company that has been hand making denim work wear in Bristol for the last 103 years.We meandered around stacks of small batch denim pieces waiting to be turned into jackets and jeans and past sewing machines in continuous service since the 1930s while listening to stories about, among other things, jobs passed down from one family member to another, much like family heirlooms, and the one guy who has cut virtually every piece of every item made in the factory for the last 20 years.BRO-David-Gans-LC-King-08Leftover Salmon, Sol Driven Train, Quiet Life, Scythian, Dr. Dog, Moon Taxi, Banditos, and Spirit Family Reunion, among others, have taken the tour and left the factory with L.C. King swag in tow. The jackets and jeans are offered with no strings attached but with one idea in mind: musicians making honest American music should be doing it in clothing that is, likewise, wholly American.That philosophy – along with the hip look – is what makes L.C. King a century old American original.I recently chatted with Chris Stewart about this evolving connection between roots music and the company’s handmade denim.BRO – How did getting your clothing on musicians – in lieu of more traditional print marketing – develop as an idea?CS – We have over one hundred years of real-world results from our sales, marketing campaigns, branding initiatives, and a constant barrage from competitors new and old. One thing we have learned along the way is that we are not always best served by the standard contemporary marketing options. Common marketing is great for short term sales, but it doesn’t always address our real goals of longevity, brand loyalty, and the heritage promise. There is so much print and online marketing these days that it is easy to tune it out or be perceived as disingenuous. So, when building a new marketing strategy around who and what L.C. King really is, three words efficiently define our brand platform – authentic, American, and heritage. I decided to let the brand speak for itself by collaborating with other brands that fit the same description, and as a great band or musician is about the truest form of brand, it seemed like a natural fit and has become a fruitful direction.BRO-David-Gans-LC-King-02BRO – You see parallels between the story of L.C. King and roots music in Bristol. Expand on that?CS – Landon Clayton King designed Pointer Brand as a working man’s product, and it remains such to this day. Over the decades, we have expanded into new realms of “work” beyond the blue collar standards, but we still build, design and style hoping that our gear is as much about function as it is form. Likewise, American music was the common, hard working (wo)man’s expression. Both are authentic in their nature and appeal to the masses while expressing their hard earned heritage. As the music has evolved and taken labels such as country, roots, Americana, bluegrass, old-time, and more, L.C. King has evolved similarly into work wear, street wear, women’s wear, and men’s style. It seems to me that this past century has seen a very similar evolutionary model for music and our products, and I believe it is more than just coincidence that Bristol shares the origins of what have become staples of ever-contemporary culture with Pointer Brand in 1913 and the Bristol Sessions in 1927.BRO – Can you describe that moment during a factory tour when an artist truly gets it?CS – It is a completely different experience for every band or musician that visits our factory. Their expectations are formed ahead of time based on the diversity of their backgrounds, so everyone expects to see something different no what matter what they knew about us ahead of time. But you are right, there is a moment for each visitor that is akin to being shaken from one reality to another, and then with wider eyes and a clearer mind, they can finally see what and who we really are. This very often happens as they walk through our factory, touching the century old equipment, watching the workers use techniques passed through the generations, and having real conversations with those workers that have a common thread. That common thread is that it’s not just about the product, but about people, process, and passion, which is how musicians feel about their music. It goes back to roots again. At that root of what we both do, whether it’s on stage or in a factory, the underlying care and sincerity should be obvious. Once the musicians see that, a bond based upon respect and commonality forms and is almost always a lifelong trust we share.BRO – Got a short list of artists you’d like to invite to the factory? They just might be reading.CS – To single out people I want to meet isn’t a question I can answer. I love meeting all artists, from those just starting out to seasoned, Grammy winning professionals. Sometimes it’s a green three piece combo crammed into a boxy Volvo. Sometimes it’s a twenty piece entourage that pulls up in three matching buses with custom painted trailers. They all have a story to tell and we love to hear it, and we love sharing our story with them. There is definitely no bucket list other than trying to connect with as many musicians with an authentic voice as possible. If they have an inclination to seek us out, make the trip, and give us their time, there is a good chance a wonderful connection will be established.BRO – Hipster . . . . that’s not a dirty word, is it?CS – Goth. Punk. Grunge. Greaser. Prep. Hipster is just a contemporary variation of something that has occurred many times in our history. It’s a societal subset that stretches the style and fashion to connect with a lifestyle divergent to the majority. So, no, hipster is not a dirty word. Hipster culture has a built in appreciation for well made clothes and simple styling – along with big beards, hand-brewed coffee, and craft whiskey. Maybe there isn’t such a giant gap between a contemporary hipster and a turn of the century working man, with their big beards, home- roasted coffee, and moonshine. We make clothes for anyone who is willing and able. Everyone deserves to wear great handmade heritage clothing and we could care less how it gets styled and which genera it is identified with. I am proud when I see anyone wearing Pointer Brand. The working man takes on many forms these days, and we are here to support them all. We are, and always will be, Authentic American Heritage wear. Made for living, worn for life.BRO-David-Gans-LC-King-06If you find yourself in Bristol, do yourself a favor and make your way to the L.C. King building and see for yourself what is going on. Take a spin through the factory store. Try on a chore coat or a pair of jeans made right here in the USA through a process that is unchanged for over a century. You won’t regret it.You can follow L.C. King on both Instagram and Twitter.To check out the line of L.C. King work wear and street wear, or to get more information on when you can visit the factory store, point your browser here. And when you do visit the website and fill your cart with hand crafted American denim, use the code BRO15 for an extra 15% off any order between now and June 30th.Many thanks to my good friend Brent Treash for the great photos.MORE FROM THE TRAIL MIX BLOG:last_img read more

May 1, 2004 Letters

first_imgMay 1, 2004 Letters In response to the April 1 letter reguarding the death penalty, to quote the writer, I, too, “find myself compelled to respond.”Usually, it is a good idea to check the law and make sure you know what you are talking about before making condescending remarks about other attorneys. Contrary to what the author asserts, the governor of Florida most definitely has the power to “sign a paper to cause another person’s death.” That paper is commonly known as a “death” warrant, and it is provided for in F.S. §922.052, which reads in part:“The sentence [of death] shall not be executed until the governor issues a warrant, attaches it to the copy of the record, and transmits it to the warden, directing the warden to execute the sentence at a time designated in the warrant.”In other words, no death warrant signed, no execution — it’s that simple. Not only does the governor have the power to cause another person’s death with the stroke of a pen, he also chooses the date and time of the execution. Andrew M. Kassier Coral GablesYou Go Tell Mrs. Stout Letters Death Penaltycenter_img May 1, 2004 Letters Mrs. Stout, my fifth-grade teacher at Pinecrest Elementary, taught us about the three branches of government and about how this system of checks and balances was created by people who knew what life was like when all of the power was concentrated in one branch, or worse yet, one person. It’s called a dictatorship. She taught us that the system of checks and balances is exactly one of the many reasons why this country is so unusual and so great.All three branches of government should be allowed to operate independently (they have to be given some sort of power) and they have to be funded. Any organization, whether a government or a business, needs money to operate in society.There is a movement afoot in Tallahassee right now to squeeze off the judicial branch from its power and its funding. As of now the amount the state will fund the judicial branch has not been fully decided. And when it is, the fight surely will continue as we look to our county government to fund any shortfalls, and as we look to our legislature next year to do even more. Even with the requested funding, the judiciary is in a sad state (pun intended) of affairs.You take the quiz:• Which branch of government of the fourth largest state in the U.S. is so short on funds given to it by the legislature that the elevator in its headquarters does not work?• Which branch of government of the fourth largest state in the U.S. had assigned to its chief executive officer a staff of four.. . then cut it back to two?• Which branch of government of the fourth largest state in the U.S. is given by the legislature less than 2 percent of the state’s budget? Less than 2 percent, not 20 percent?• Which state in the union has a legislature which has proposed a bill whereby the legislature, made up of lawyers and nonlawyers alike, would have total control over the content of the Florida Rules of Civil Procedure and the other Florida rules of court?Answers: 1. The Florida Supreme Court; 2.The Florida Supreme Court; 3.The Florida Supreme Court; 4. Florida.Here are the facts: Revision 7 to Art. V of the Florida Constitution provides that the state, as opposed to the counties, as of July 1, is required to provide funding for the “essential services” provided by the judicial system. Of course, how our legislators define “essential services” and how we who labor in the judicial system define that may be two different things. The fact is that even if the proposed $180 million budget for the judicial system is approved, the judicial system will use less than 2 percent of the state’s budget and there will be a shortfall of more than $10 million in the court system in Miami-Dade County. The House Public Safety & Crime Prevention Committee of the Florida House of Representatives met on March 3 at 5 p.m. and proposed HPS-1 (PCB 01-04) relating to Court Rules of Practice and Procedure. This proposed committee bill would create a joint resolution proposing an amendment to Section 2 of Art. V of the Florida Constitution to remove the authority to adopt rules of practice and procedure in all courts from the Florida Supreme Court. This proposed legislation and any such constitutional amendment clearly flies in the face of the separation of powers between the three branches of government and the independence of the judiciary. It also clearly flies in the face of common sense. We would have politicians, not lawyers or judges, controlling and thus creating rules for the courts and for the lawyers who practice in them. We would have a court system controlled by legislators. That is not efficient; it is not fair; and it is not right.Without power, the judicial branch cannot be independent. Without funding, it cannot exist. Dictators like Fidel Castro and others in the past know all about cutting off the judicial branch of government. Without the judicial branch, there are no checks or balances on the other two branches. That is exactly what our founding fathers wanted to avoid. They had lived under a king. Kings and dictators throughout history have murdered at will, have plundered whole economies, and have violated civil rights on a massive scale.What has made America great is our concept of checks and balances and the separation of powers of all three branches.If you don’t think so, you go tell Mrs. Stout. John H. (Jack) Hickey President, Dade County Bar (Editor’s Note: The Bar and the legislature have reached a compromise on the procedure rules bill, see story on page 5.)last_img read more

Segmentation lessons from an ancient Roman fruit vendor

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr In your eagerness to stay on the leading wave of the digital transformation, is your bank sacrificing power for speed? Big data has the potential to help financial institutions create customer experiences that are meaningful, relevant and engaging on an individual level. But if you homogenize your use of digital channels and treat all your digitally engaged customers as if every one of them fits neatly into a handful of pre-defined segments, your financial institution is failing to maximize the power of your technology.THE IMPORTANCE OF SEGMENTATIONFinancial institutions are vast repositories of customer information, and they know more about their customers today than at any other time in history — even if many of them still don’t seem to realize it. That data is integral to creating the kind of personalized experience digitally indoctrinated customers crave, but it’s not the only ingredient you need. Segmentation right down to a granular level is also critical. continue reading »last_img read more

Dutch MH17 trial resumes after delay due to coronavirus lockdown

first_imgMH17 was flying from Amsterdam to Kuala Lumpur when it was shot down by a missile fired from territory held by pro-Moscow rebels amid fighting with Ukrainian troops, killing all 298 aboard.The suspects all held senior posts in pro-Russian militias in eastern Ukraine in 2014, according to prosecutors. They face preliminary charges of murder and of causing an aircraft to crash.Prosecutors say the four men helped to arrange the Russian missile system used to shoot down MH17, a civilian aircraft, killing all onboard. Most of those killed were Dutch.Prosecutors were expected to give an update on the investigation and when they plan to give opening statements.  Topics : Investigators say the missile launcher used to bring down the passenger jet came from a Russian army base just across the border and that pro-Russian forces had been in frequent contact with government officials in Moscow before the strike on July 17, 2014.The Netherlands holds Russia responsible, but the Kremlin has consistently denied involvement.The defendants – Russians Sergey Dubinsky, Oleg Pulatov and Igor Girkin and Ukrainian Leonid Kharchenko – remain at large. Pulatov is the only one who has appointed a defense team, with the others being tried in absentia.Proceedings on Monday were expected to be largely procedural, dealing with what remains to be investigated before the substance of the case can be presented.center_img Defense lawyers in the trial of the 2014 downing of Malaysia Airlines flight MH17 over eastern Ukraine on Monday will request more time to prepare as public hearings resumed following delays caused by the coronavirus lockdown.Five judges sat between glass dividers, and lawyers and family members were spread out as part of social distancing measures. A maximum of 30 people would be allowed into the courtroom.Four defendants went on trial in March following nearly six years of investigations by a team of international investigators from the Netherlands, Belgium, Australia, Ukraine and Malaysia.last_img read more

Ellsworth’s Robidoux named to All-State volleyball team

first_imgELLSWORTH — Ellsworth’s Olivia Robidoux was named Friday to the Maine Volleyball Coaches Association All-State first team.Robidoux, a captain on this year’s team alongside fellow senior Kristen Omlor, spent three years as a member of Ellsworth’s varsity squad and helped the Eagles to playoff appearances in 2016 and 2017. She played under former head coach Whitney Ranger as a sophomore before doing so under current head coach Jamie Calandro the past two seasons.After a rough start to the 2018 season, Robidoux and the Eagles went on to win four of their final six games and finish with a 6-8 record. The team finished fewer than 1.7 points short of the final Class B playoff spot, which went to Kennebunk.Earlier this month, Robidoux was one of eight players to be selected to the All-Penobscot Valley Conference first team. She was also selected to the PVC All-Academic team along with teammates Omlor, Olivia Dyer and Abby Moon, Bucksport’s Brittney Dewitt and Drew Smith, George Stevens Academy’s Lee Nicole Chandler, Ashton Dunbar and Lillie Maier and Sumner’s Tara Flubacher and Lydia Gatcomb.This is placeholder textThis is placeholder textRobidoux’s statistics this season included 167 kills, 36 blocks, 140 digs and a serve percentage of 91.last_img read more