Sales of new single-family houses in May 2010 were at a seasonally adjusted annual rate of 300,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 32.7 percent (±9.9%) below the revised April rate of 446,000 and is 18.3 percent (±13.0%) below the May 2009 estimate of 367,000.
The median sales price of new houses sold in May 2010 was $200,900; the average sales price was $263,400. The seasonally adjusted estimate of new houses for sale at the end of May was 213,000. This represents a supply of 8.5 months at the current sales rate.
Read more: http://www.businessinsider.com/new-home-sales-2010-6#ixzz0rsV99dzs
Posted in Politics & Finance.
Tagged with credit crisis, depression, finance, financial, investments, mortgage.
By Penny
– June 25, 2010
Pick-up trucks have for the longest time been a popular vehicle in US, chosen not only for their durability, but also for their usefulness making it through the local terrain or weather.
But the popularity is reaching a point where the demand can not keep up with the supply. The sales of Pickups has risen nationwide more than 19 percent in a year on year basis for raw sales figures, and according the Wall Street Journal. The Ford’s F-series was the leader of the pack, with a 49 percent sales this year.
However dealerships aren’t the only ones cashing in, car hire and van hire companies are noticing an increasing interest in renting trucks.
The Donovan & Bauer Auto Group in particular is seeing its truck sales roaring at a Chevrolet, Buick and Pontiac dealership where truck sales account for nearly three-quarters of its business, said Troy Donovan, the dealership’s sales manager and treasurer.
“All of these things are coming together — new designs, new features once mainly found in cars, better fuel economy — and that’s been good,” said Matt Clark, general manager of Humes Chrysler, Jeep, Dodge and Sprinter in Waterford. “A couple of years ago, when the gas prices were high, sales were softening. But in the last 15 months or so, sales have nearly doubled.”
Posted in Auto & Travel.
Tagged with Auto & Travel, car rental, cars, company, easycar, easyvan, van hire, vans.
By Penny
– June 25, 2010
Even though many are still feeling the economic downturn, the German car industry, Europe’s largest economy, is once again setting records.
Spurred by the demands for German luxury cars in China, a land where New and used vans with the German brand on them are already very popular, as well as the declining value of the Euro, European products are cheaper abroad. Manufacturers say they are no longer jarred by the economic slump, going as far to add extra shifts and hiring more workers to meet the increasing demand.
All the major manufactures such as Mercedes, Volkswagen, BMW and Audi have all told The Associated Press this week that order books are filled and some plants are operating at full capacity. Which is a remarkable turnaround for an industry that last year had to take advantage of a government plan to reduce their workers’ hours to avoid large-scale layoffs.
For Volkswagen AG, Europe’s biggest carmaker, China is already the single most important market for its cars and vans, with more growth on the horizon. Its first quarter sales alone rose by 48 percent to 777,800 units, the company said. That helped offset sales in Germany, where demand for the group’s Volkswagen, Seat, Skoda and Audi cars dipped by 12 percent to 436,900 units.
The bulk of growth for Volkswagen’s luxury brand Audi also lies in China, which is slated to become the brand’s most important market — even over the company’s home turf.
Posted in Auto & Travel.
Tagged with Auto & Travel, used vans, van hire, vans, vans for sale, volkwagen.
By Penny
– June 25, 2010
The amount of home ownership applications nationwide across the US was in decline last week, despite the efforts to incite buying with tax credits.
For a complete picture, for national mortgage applications there was a short term decline in seasonally adjusted rates, dropping to 5.9 percent from the previous weeks. This was data lifted from a report by the Mortgage / Business Banking Association. While the unadjusted rate of decline was similar at 6 percent.
In a similar vein there was a number of refinancing and financial investments agencies that reported a decrease even more sharply then first time applications, a 7.3 percent drop from the previous week. However, the seasonally adjusted decrease was just 1.2 percent.
Home purchases declined most sharply of all, though, the report said. The seasonally adjusted decline was 36.8 percent from the previous week, though the unadjusted decline was just 2.3 percent.
The government is considering an extension on the tax credit scheme throughout September. It is currently set to expire on June 30. Which will come as good news for those who are financially stretching their pockets and savings accounts.
Posted in Politics & Finance.
Tagged with banks, business bank, corporate bank, corporation, finance, financial, investments, mortgage, savings, ulster.
By Penny
– June 25, 2010
After two years of cutting corners, consumers have learned to get by with less and say they will continue to practice thriftiness at least for the next six to 12 months and perhaps well beyond that, according to a food and beverage market research report from the NPD Group.
The “The What’s Next on the Road to Recovery” report, which explores how consumers’ habits related to food and beverage purchasing and usage have been affected by the recession, finds that nearly one in five consumers expect to be worse off 12 months from now than they are today, and half of all consumers expect their financial situation to be the same as it is today. Looking ahead nine out of 10 consumers say they will plan and watch their spending on food and beverages outside the home.
Among the thriftier behaviors consumers say they will do more often than now over the next six months are decreasing spending on groceries, especially those with household incomes under $35,000; using coupons for food and beverage items from newspapers or magazines; stocking up on foods and beverages when they are on sale; searching store circulars for low prices on food or beverages that are on sale; buying less expensive brands of foods and beverages, and searching for manufacturer coupons online.
“As food and beverage manufacturers and retailers begin to rethink their marketing communication programs as they start their recovery planning, it’s important that they understand their consumer’s mindset,” said Dori Hickey, director of product development at NPD and author of the report. “Consumers lost personal wealth in this Recession and they’re skeptical that ‘things will go back to the way they were.’ In their minds, it appears the road to recovery will be a long one.”
http://www.foodproductdesign.com/news/2010/06/consumers-to-continue-food-beverage-thriftiness.aspx
Posted in Environment.
Tagged with credit crisis, depression, finance, financial, Food, health.
By Penny
– June 25, 2010
