CR Note: This is from housing economist Tom Lawler. Meritage Homes, the 11th largest US home builder in 2009, reported that net home orders in the quarter ended 6/30/10 totaled 900, down 21.5% from the comparable quarter of 2009. Home deliveries, in contrast, jumped by 35.6% from a year ago to 1,207, reflecting buyers’ (and the builders) rush to close prior to the expected 6/30 closing date deadline for the federal home buyer tax credit
Posts Tagged florida
There are ten states which have had unemployment rates consistently above 10% for the first six months of the year. Many also have desperate budget problems, a combination of high social services costs–driven to a large extent by unemployment benefit costs, and low tax receipts–resulting from a troubled business environment and the large number of [[ This is a content summary only.
Tall grass in Summer Grim Reaper scythes down the weeds Only stubble left by Soylent Green is People From the FDIC: NAFH National Bank, Miami, Florida, Acquires All the Deposits of Two Institutions in Florida and One Institution in South Carolina Metro Bank of Dade County, Miami, Turnberry Bank, Aventura, Florida, and First National Bank of the South, Spartanburg, South Carolina As of March 31, 2010, Metro Bank of Dade County had total assets of $442.3 million and total deposits of $391.3 million; Turnberry Bank had total assets of $263.9 million and total deposits of $196.9 million; and First National Bank of the South had total assets of $682.0 million and total deposits of $610.1 million. … The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for Metro Bank of Dade County will be $67.6 million; for Turnberry Bank, $34.4 million; and for First National Bank of the South, $74.9 million
CR Note: As mentioned in the Look Ahead post, the consensus for existing home sales (to be announced Tuesday) is for an increase to 6.2 million sales in May (SAAR), from 5.77 million in April (SAAR). For new home sales, the consensus is for a sharp decrease in sales to around 400K (SAAR), down from 504K in April. Housing economist Tom Lawler is taking the under.
While BP CEO Tony Blair was attending yacht races, the first wave of oil from the Deepwater Horizn hit Florida’s Gulf shore beaches beginning a new chapter in the damage caused by the spill. The beaches are a major source of tourism and could be closed for month as crude washes up on the sand [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
The NOAA reports that winds are likely to push oil ashore for most of next week, effecting the Gulf Coast from West of New Orleans to the Florida Panhandle. Onshore (SE/S/SW) winds are forecast to continue into next week at speeds less than 10 knots.
Today, the National Council of La Raza (NCLR) launched a five-part weekly blog series titled Too Little to Save .
Oil and Florida Tourism
Jun 4
Earlier I posted: Oil Gusher impacting Gulf Coast Hotels William Spain at MarketWatch has more: Spill could mean dark times for Sunshine State At stake [in Florida] alone are hundreds of thousands of jobs and perhaps billions of dollars in revenue, depending on when and where the oil from BP PLC’s runaway well makes landfall. Although the beaches were still in the clear as of Thursday afternoon, widespread reports of vacation cancellations are already coming in … “It is already ugly,” said John Fareed, a partner at Fareed Zapala Koepke, an Orlando-based hospitality-industry consultancy
This is an unofficial list of Problem Banks compiled only from public sources. Here is the unofficial problem bank list for May 28, 2010.
