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Aether Phanes
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Sales of New Homes Boost 1.5%
Sales of New Homes Boost 1.5%
hendrenglobalgrp.blogspot.com
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Sales of New Homes Boost 1.5%

hendren global group news blog, Hendren Global Group: Top Facts
Sales of new homes accelerated up to 1.5 percent in March to a seasonally adjusted yearly rate of 417,000, another verification of a sustained housing upturn at the launch of the spring buying season.
Sales of new homes exceeded February’s pace of 411,000, though they were below January’s 445,000 — the fastest rate since July 2008, the Commerce Department said on Tuesday.
The 700,000 pace is considered healthy by most economists but new-home sales are still below the said pace yet the rate has increased 18.5 percent from 352,000 a year ago
Majority of the economists spot more boost ahead, as housing is probably to remain a constant driver of economic growth this year.
Jennifer Lee, senior economist at BMO Capital Markets said, “With increasing signs of a softer U.S. economy springing up in the spring, we can take comfort in the resilience of the housing recovery.”
More Americans are encouraged to buy new houses due to stable job formation and near-record low mortgage rates. The increase in demand is helping to elevate sales and prices in most markets. Lavish prices are more likely to make homeowners feel richer and spur them in spending more.
Another reason why sales lift prices is due to a limited supply of both new and previously occupied homes.
The inventory of new homes for sale amplified 2 percent in March, to 153,000, the second successive gain. Still, that’s the equivalent of a 4.4-month supply at the current sales pace and historically lean, according to Jim O’Sullivan, chief United States economist at High Frequency Economics.
The median price of a new home is 3 percent higher than a year ago, it rose to $247,000 in March.
The March sales gain came from a 20.6 percent increase in the Northeast and a 19.4 percent rise in the South. Sales fell 20.9 percent in the West, where problems of supply have hampered home buying. Sales were down 12.1 percent in the Midwest.
According to the National Association of Realtors, sales of previously occupied homes dipped in March from February. Still, sales were 10.3 percent higher than a year earlier.
The association mentioned low supply as a ground sales fell in March. Nevertheless in a positive sign, the inventory of formerly occupied homes augmented for the second straight month. That proposes more sellers are positive that the revival will carry on and they can sell at a good price. While low inventories have helped drive more construction of new homes.
In March, home builders began work on more than one million new houses and apartments at a seasonally adjusted annual rate. This is the first time the number had crossed that threshold in nearly five years. That reflected a surge in volatile apartment building.
After reaching the fastest rate in nearly five years, single-family home construction fell in March.
Yet, one of several constraints is a low supply of homes for sale, it could limit sales. More than six years ago the housing bubble burst and since then banks have forced tighter credit conditions and mandate larger down payments. As a consequence, it became harder to first-time homebuyers to qualify for the low mortgage rates that made the Federal Reserve’s efforts to ease credit.

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Boston Marathon bombing suspects possibly acted alone

Hendren Global Group: Top Facts

Tuesday, latest details emerged from U.S. officials and family members concerning how the two Boston Marathon bombing suspects may have been persuaded by an agitator, anti-American strain of Islam. They had been radicalized by sources on the web, not through direct contact with terror groups said A U.S. senator.
Younger brother, Dzhokhar Tsarnaev, 19-year-old university student’s condition was improved to fair from serious as investigators continued building their case against him. After being charged Monday, he possibly will face the death penalty with working in partner with his brother in setting off the shrapnel-packed pressure-cooker bombs that killed three people. Older brother previously reported dead.
Over 260 people were injured by the bomb blasts last week while about 50 were still hospitalized.
There is “no question” that older brother Tamerlan Tsarnaev was “the dominant force” behind the attacks, and that the brothers had apparently been radicalized by material on the internet rather than by contact with militant groups overseas Republican Sen. Richard Burr stated after the Senate Intelligence Committee was briefed by federal law enforcement officials in Washington.
Brothers, both Russian-born ethnic Chechens, have no links to terror groups based on what the authorities believed in. On the other hand, two U.S. officials said Tuesday that Tamerlan Tsarnaev, 26 — who died last week in a gunbattle — frequently looked at extremist websites, including Inspire magazine, an English-language online publication produced by al-Qaida’s Yemen affiliate. The said magazine has endorsed lone-wolf terror attacks.
Because both officials were not authorized to discuss the investigation they spoke on condition of anonymity.
Tamerlan was steered toward a strict strain of Islam under the influence of a Muslim convert known to the Tsarnaev family only as Misha, according to family members reached in the U.S. and abroad by The Associated Press.
According to family members, who said he turned to websites and literature claiming that the CIA was behind the Sept. 11, 2001 attacks, after befriending Misha, Tamerlan gave up boxing, stopped studying music and began opposing the wars in Afghanistan and Iraq.
“Somehow, he just took his brain,” said Tamerlan’s uncle, Ruslan Tsarni of Maryland, who recalled conversations with Tamerlan’s worried father about Misha’s influence.
“You could always hear his younger brother and sisters say, `Tamerlan said this,’ and `Tamerlan said that.’ Dzhokhar loved him. He would do whatever Tamerlan would say,” recalled Elmirza Khozhugov, the ex-husband of Tamerlan’s sister. He spoke by telephone from his home in Almaty, Kazakhstan.
Khozhugov said, the brothers, who came to the U.S. from Russia a decade ago, were raised in a home that followed Sunni Islam, the religion’s largest sect, but were not regulars at the mosque and rarely discussed religion.
Then Tamerlan met Misha, a heavyset bald man with a reddish beard around 2008 or 2009. Khozhugov is not quite sure where they met but held as true that they attended a Boston-area mosque together.
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http://hendrengroup.biz/blog/2013/05/21/boston-marathon-bombing-suspects-possibly-acted-alone/
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IMF Presses Advanced Economies To Build Confidence: Hendren Global Group Top Story
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Own gun control plan proposal keeps on

WASHINGTON — House Democrats will unveil 15 proposals for curbing gun violence that resemble President Barack Obama’s plan and will include a call for banning assault weapons, people familiar with the package said Wednesday.
The Democrats’ recommendations will also include barring high-capacity magazines carrying more than 10 rounds of ammunition, requiring background checks for all gun sales and prohibiting gun trafficking, all of which Obama proposed last month.
The proposals, to be released Thursday by top House Democrats, were described by people who requested anonymity because they were not authorized to discuss the plan publicly. They represent the initial House Democratic response to the horrific Dec. 14 shooting of 20 first-graders and six adults at the Sandy Hook Elementary School in Newtown, Conn.
Even so, the Democrats’ proposals are unlikely to go anywhere quickly in the Republican-controlled House. A spokesman for House Speaker John Boehner, R-Ohio, has said the House will wait to see what the Democratic-led Senate does.
Obama’s gun control proposals have been opposed by the National Rifle Association, which is a potent lobbying force on Capitol Hill. In addition, some Democrats — including many from rural or conservative areas — have been reluctant to endorse the president’s plan.
That hesitation was underscored Wednesday at a private retreat Senate Democrats staged in Annapolis, Md. At that session, Democrats largely embraced expanded background checks on gun sales, but some senators expressed a desire to avoid voting on an assault weapons ban, according to two people who described the closed-door session only on condition of anonymity.
The House Democrats’ recommendations were proposed by the 12-member House Democratic Gun Violence Prevention Task Force, led by Rep. Mike Thompson, D-Calif. Two-thirds of its members had to approve an item for it to be included in their plan, meaning there likely will be Democratic dissenters to some of the ideas.
Among the task force members was Rep. John Dingell, D-Mich., the House’s longest serving member. Dingell has been a strong ally of the National Rifle Association, though he has clashed with them on some issues in the past.
There has been strong public support for expanding background checks beyond the current system, in which the checks only cover sales by federally licensed gun dealers. The checks are aimed at weeding out gun sales to criminals, people with mental health problems and some others.
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