Word: economisters
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...renter, you might want to think about one other option: homeownership. "Prices have come down in some areas so much, renters can even start considering buying," says Gleb Nechayev, a senior economist at Torto Wheaton. He looked across markets at the average monthly cost of buying a condominium, assuming a 20% downpayment and annual fees of 1.5%. Even after adding in interest on the loan, buying an apartment in certain markets - including Las Vegas; San Diego; Orlando, Fla.; Sacramento; and Fort Lauderdale, Fla. - came out to be cheaper than the average rent price. In West Palm Beach, Fla., buying cost...
...Mish's Global Economic Trend Analysis (7,903 links). Although Mish (aka Mike Shedlock) is not an economist by training, he adroitly gets into the thick of economic data. Mish uses observations made by those in major media, so-called experts and government officials and serves up analysis based on his impression of their relevance and validity. The author is not afraid to attack conventional wisdom...
...heartland - southern Guangdong province. Jing Ulrich, chairman of China equities at JP Morgan in Hong Kong, believes some 60,000 businesses closed in the region, and the government estimates about 10 million migrant workers are unemployed. The downturn has put "huge stress on the job market," says Credit Suisse economist Dong Tao, which "could cause some social unrest. That's my worry...
...Still, the transition from an outward-oriented growth model won't be easy. Though consumer spending has remained healthy - retail sales grew 19% in the fourth quarter - economists don't think the average Chinese has a big enough wallet to make up for weak demand overseas. "The reliance on the U.S. consumer as the buyer of last resort is going to have to change," says Michael Buchanan, chief Asia economist at Goldman Sachs in Hong Kong. He says "China has a long way to go in adjusting" to this fundamental change in the world economy...
...raging debate about the largest American banks is whether their stock market values should be zero. Economist Nouriel Roubini, the most highly paid pessimist in the world, recently said that U.S. banks are "insolvent" and credit crisis write-downs will total $3.6 trillion. That is a great deal more than has been taken as losses by financial firms to date...