Inman News Features
The number of California homes going into foreclosure declined during the first three months of the year, the result of strong demand for housing and steadily rising home values, a real estate information service reported.
Lending institutions started foreclosure proceedings on 20,093 homeowners during the January-to-March period. That was up 4.5 percent from 19,225 for the prior quarter and down 14.2 percent from 23,406 for last year's first quarter, according to DataQuick Information Systems.
From CAR
"The median price of a home in California has posted double-digit gains every month for the last 16 months and hit a new record of $352,780 in March," said C.A.R. President Toby Bradley. "While consumers remain concerned about the general direction of the economy, buying a home continues to be a safe haven for California families." Closed escrow sales of existing, single-family detached homes in California totaled 567,610 in March at a seasonally adjusted annualized rate
Here is increasing value in property plus lower rates and rapidly advancing equity one can easily how lower rates and refinance can stop foreclosure.
NEW YORK (Reuters) - Job cuts announced at U.S. employers jumped in April to their highest monthly tally since November, a report showed on Monday, confirming the end of the war in Iraq did not stop companies from firing more workers.
Layoffs at U.S. firms surged 71 percent to 146,399 in April from 85,396 job cuts planned in March, job placement firm Challenger, Gray & Christmas said. That brought the year's total job cut announcements to a hefty 502,194 even as U.S. troops made rapid progress in the battle for Baghdad.
Taken from CA state budget.
Corporation tax revenues were $81 million below the month’s forecast of $1.222 billion. March is a significant month for this revenue because the final payments for 2002 calendar year corporations were due. Prepayments were $172 million below the estimate of $485 million and refunds were $32 million above the projected level of $74 million. Partially offsetting this shortfall, however, were other payments, which include final payments and miscellaneous payments. These receipts were $123 million above the forecast of $811 million. April will be another important month for this tax since the first prepayment for 2003 calendar year corporations is due mid-month. Year-to-date, corporation tax revenues are $41 million below the forecast.
Year-to-date, personal income tax revenues are $254 million below the forecast
Corpoations Taxes are decreasing personnel taxes this year have done a bit better in the March figures but are still not showing an increase to restore budget health..
Courtesy of SI and AP
Supreme Court OKs Telemarketing Lawsuits
The Supreme Court ruled Monday that states can press fraud charges against telemarketers or other fund-raisers who deceive potential donors about how much of a contribution really goes to charity.
The First Amendment does not protect fund-raisers who intentionally mislead potential donors, the court said. The unanimous ruling allows Illinois to go after a telemarketing firm that took in more than $8 million on behalf of a Vietnam veterans' charity, and pocketed 85 percent of the money.
States may be able to sue for high pressured phone calls. Calif is taking phone numbers that do not want to be bothered with Telemarketers calls.
There is a plus in this products that are worthy sell themselves and cost will go down for advertising, negative is unemployment for telemarketers will increase.
If anyone is from CA and wants to be on the no call CA site is taking a prelist for no call numbers.
<http://nocall.doj.state.ca.us/> |
