Lehigh Valley housing market continues to rebound during coronavirus

Lehigh Valley housing market continues to rebound during coronavirus

Demand outpaced supply in area home buying, according to the latest data from Greater Lehigh Valley Realtors, as things continue to rebound from the coronavirus pandemic President Donald Trump is attacking Joe Biden for calling on governors to mandate that all Americans wear masks for the next three months President Donald Trump on Thursday cast his election battle with Joe Biden as a fight for the future of the U.S. economy, saying the stock market would tank… Daily thread to exchange ideas and to share your thoughts
Elsewhere, gold and silver are faring better after some choppy moves in late trading yesterday. I’m still not entirely convinced of the rebound for the most part, unless dip buyers in gold can clear the $2,000 hurdle again.
By Justin Low

Demand outpaced supply in area home buying, according to the latest data from Greater Lehigh Valley Realtors. Both closed sales and pending sales, or those under agreement, were up in July, as the area slowly recovers from the economic grips of the coronavirus. Meanwhile, the median sales price increased more than 6%, to $237,750, the Realtors group said.

Demand outpaced supply in area home buying, according to the latest data from Greater Lehigh Valley Realtors. Both closed sales and pending sales, or those under agreement, were up in July, as the area slowly recovers from the economic grips of the coronavirus. Meanwhile, the median sales price increased more than 6%, to $237,750, the Realtors group said. (APRIL GAMIZ/THE MORNING CALL FILE PHOTO)

Demand outpaced supply in area home buying, according to the latest data from Greater Lehigh Valley Realtors.

Both closed sales and pending sales, or those under agreement, were up in July — as the area slowly recovers from the economic grip of the coronavirus, the association said in data released this week.

Closed sales increased by 3.1%, to 872, compared with the same month in 2019, and pending sales climbed 25.4%, to 1,053.

A total of 1,078 new listings was a drop from the previous July, and the same category also saw a 9.7% decrease in 2019 and 10.7% increase during July 2018.

Put simply, the market can vary month by month whether we’re in a crisis such as the coronavirus or not.

“Despite the significant economic impact of the COVID-19 pandemic, homebuyers remain extremely resilient,” association President Jack Gross said in a news release. Gross added that with near-record-low mortgage rates and stronger mortgage applications than last year, buyer activity is expected to continue into early fall.

“The buyers are ready,” Gross indicated. “We just need the sellers to come to the table.”

But inventory shrank 52% to 929 units, with an inventory supply that was down 48.1%, to 1.4 months. Gross said he has never seen the inventory so tight. And when a house goes on the market in various areas of the Valley, showing slots get filled up rapidly due to market conditions as well as agents adhering to COVID-19 health protocols.

Gross indicated he is also hearing from agents that a “large volume” of people from the New York metropolitan area are moving to the Valley. It’s happened before — the influx of new residents from big cities lured by lower property taxes and more land. But a new factor is fears from COVID-19 and living in high-density places, he said.

  • Median sales prices increased by 6.4% to $237,750.
  • The number of days a home has stayed on the market until a sale rose by five to 32.
  • In Carbon County, median sales prices rose to $154,900; closed sales were up to 91, while pending sales increased to 136. There were 128 new listings and inventory fell to 163 units, meaning a 2.4-month supply.

The Greater Lehigh Valley Realtors represents more than 2,500 property professionals in Lehigh, Northampton and Carbon counties.

Source: www.mcall.com

Author: Anthony Salamone


Trump, Biden trade barbs on coronavirus response

Trump, Biden trade barbs on coronavirus response

President Donald Trump on Thursday attacked Joe Biden for calling on governors to mandate that all Americans wear masks for the next three months, accusing the Democratic presidential candidate of politicizing an issue Trump himself has used for political gain in recent months.

Trump claimed Biden has been wrong about the coronavirus pandemic at every turn, “ignoring the scientific evidence and putting left-wing politics before facts and evidence.” Trump went on to falsely say that Biden was advocating for the president to use executive power to institute a nationwide mask mandate and that Biden was in favor of “locking all Americans in their basements for months on end.”

“To Joe, I would say stop playing politics with the virus,” Trump said at the White House press briefing.

Biden did not call for an executive order, but did at an earlier campaign event call for the institution of “a mask mandate nationwide, starting immediately.” Biden clarified, however, that it should be left up to the governors to make mask-wearing mandatory. He said nothing about keeping Americans indoors, but has argued that economic reopenings in states have been rushed and without proper guidance from the federal government to keep Americans safe.

Trump spent the early months of the pandemic refusing to wear a mask during public appearances, ridiculing reporters who wore them, and retweeting messages making fun of Biden for wearing a mask and implying that he looks weak. Trump first wore a mask in public about a month ago, during a visit to a military hospital, and has since expressed support for them at times.

On Thursday, he said it’s patriotic for Americans to wear masks, but added, “maybe they’re great, and maybe they’re just good. Maybe they’re not so good.”

Biden, at his earlier event, said all Americans should wear masks, citing health experts’ predictions that it could save 40,000 lives from the coronavirus over the next three months. The Democratic presidential candidate also responded to those who push back against such mandates.

“This is America. Be a patriot. Protect your fellow citizens. Step up, do the right thing.”

The back-and-forth marked a new line of attack from Trump, who is trailing Biden significantly in most nationwide and swing-state surveys. Biden has made what he says is Trump’s mishandling of the pandemic — which has now caused the deaths of 166,000 Americans — a centerpiece of his attacks on the president.

While the president has charged that if Biden were elected he would cause everything from a stock market crash to a surge of crime in the suburbs, he has largely avoided taking Biden on when it comes to the pandemic, choosing instead to deflect blame for the deaths and economic damage.

On Wednesday, when the U.S. reported 1,499 new coronavirus deaths, the highest number in a single day since May, Trump pushed for schools and businesses to continue opening, and called for college football to go on despite several leading leagues deciding to cancel this year’s season.

On Thursday he again dismissed critics who say he was too slow to react to the pandemic in the U.S., saying on Fox Business Network that “nobody blames me.”

“Look, we got hit by the China plague and we’re not going to forget it. We got hit by the China plague,” he said.

Source: www.sandiegouniontribune.com

Author: By ALEXANDRA JAFFE and WILL WEISSERTAssociated Press


Insider trading - Wikipedia

Insider trading – Wikipedia

Regulatory fines imposed for market abuse in the UK 1996–2009. Source: from IMRO/PIA/SFA annual reports in LexisNexis 1996–2001; FSA Annual Reports, Appendix on Enforcements, 2003-2012. Further details in Tonks (2010)[63]

  • Mark J. Astarita, Insider Trading: Legal vs. Illegal Insider trading: Legal vs. Illegal,
  • Stephen M. Bainbridge, Securities Law: Insider Trading (1999) ISBN 1-56662-737-0.
  • M. Duffy, Insider Trading: Addressing the Continuing Problems of Proof (2009) 23(2) Australian Journal of Corporate Law 149. (link).
  • Larry Harris, Trading & Exchanges, Oxford Press, Oxford, 2003. Chapter 29 “Insider Trading” ISBN 0-19-514470-8.
  • Grechenig, The Marginal Incentive of Insider Trading: an Economics Reinterpretation of the Case Law, 37 The University of Memphis Law Review 75-148 (2006) (link).
  • Klein, William A.; Ramseyer, J. Mark; Bainbridge, Stephen M. (2018). Business Associations: Cases and Materials on Agency, Partnerships, LLCs, and Corporations. University Casebook Series (10th ed.). St. Paul: Foundation Press. ISBN 978-1-68328-522-9.CS1 maint: ref=harv (link)
  • Review of Financial Studies; May2009, Vol. 22 Issue 5, pp. 1845–1887
  • Grechenig, Positive and Negative Information – Insider Trading Rethought
  • Pierre Hauck, Europe’s commitment to countering insider dealing and market manipulation on the basis of Art. 83 para. 2 TFEU A critical evaluation
  • International Standard Book Number-13: 978-1-4200-7403-1 (eBook – PDF)
  • This audio file was created from a revision of this article dated 2012-03-19, and does not reflect subsequent edits.

  • Insider Trading Informational page from the U.S. Security and Exchange Commission (SEC)
  • Testimony Concerning Insider Trading, by Linda Thomsen, Director of the SEC’s Division of Enforcement, before the U.S. Senate Judicial Committee (September 26, 2006)
  • SEC Forms 3, 4 and 5
  • Insider Trading: Information on Bounties
  • Hoffman, Liz, “Towers Watson CEO Sold Stock Before Big Deal: John Haley netted nearly $10 million on preannouncement sales”, Wall Street Journal, September 23, 2015. Towers Watson CEO John J. Haley’s pre-deal sale of personally owned stock questioned.
  • Insider Trading: The Legal and Illegal SECLaw.com, 2002
  • Timothy Sullivan We’re still against fraud, aren’t we? United States v. O’Hagan: Trimming the Oak in the wrong season St. John’s Law Review, Winter 1997.
  • An opinion on Why Insider Trading Should be Legal Larry Elder Interviews Henry Manne
  • Why forbid insider trading? by Ajay Shah, consultant to the Ministry of Finance, India
  • Information, Privilege, Opportunity and Insider Trading by Robert W. Mcgee and Walter E. Block – a scholarly work that opposes regulations against insider trading
  • Free Samuel Waksal argues that businessman’s insider trading should not be considered a crime
  • Rule: Ownership Reports and Trading by Officers, Directors and Principal Security
    • SEC Edgar Database on current Form 3, Form 4 and Form 5 filings

    Source: en.wikipedia.org

    Author: Authority control


    Trump claims Biden win would crash market, cause depression

    Trump claims Biden win would crash market, cause depression

    President Donald Trump on Thursday cast his election battle with Joe Biden as a fight for the future of the U.S. economy, reiterating claims that the stock market would tank and a depression would ensue if the his Democratic rival wins in November.

    Trump spoke as Democrats are preparing to nominate Biden next week at their party’s convention, which, while nominally being held in Milwaukee, will be an almost entirely virtual event as delegates and lawmakers stay home as a coronavirus precaution. Biden is leading Trump in national polls and in battleground states, including Florida, Wisconsin and Pennsylvania.

    Now see:The Obamas, AOC and Kamala Harris: Here’s who’s speaking to the Democratic convention and when

    A recent analysis from Fidelity International found the opposite of what Trump argues. It said that a sweeping victory for Biden and Harris—plus Democratic majorities in both houses of Congress—would be the best outcome for markets in the long run.

    See:A Biden-Harris sweep would be best for markets, says Fidelity.

    What’s more, wrote lead cross-asset strategist Wen-Wen Lindroth, a Trump win would bring added downside risk from factors including growing civil unrest and “potential for continued poor management of the Covid crisis, which increases the risks of a double-dip recession in the U.S.”

    Trump charges that Biden’s plans would decimate an economy that attempting to recover from the effects of the coronavirus pandemic.

    “They’re big taxers,” he said of Biden and Harris. “It’s just something that won’t work.”

    Among Biden’s tax plans are hiking levies on individuals with incomes of more than $400,000. According to the nonpartisan but business-friendly Tax Foundation, Biden’s plan would raise tax revenue by $3.8 trillion over the next decade, and reduce gross domestic product by 1.51% over the long term.

    Trump in the interview talked up his plans to cut capital-gains taxes, a proposal he has been touting this week along with a middle-income tax cut.

    “We are looking very seriously at a capital-gains tax cut, and also an income-tax cut for middle-income families,” Trump said at a Monday news conference, claiming that a reduced taxation of capital gains would “create a lot more jobs.”

    Now read:Trump ‘seriously’ considers a capital-gains tax cut—and here’s how he could do it

    Source: www.marketwatch.com

    Author: Robert Schroeder


    Trade ideas thread - European session 13 August 2020

    Trade ideas thread – European session 13 August 2020

    WCRS 13-08

    Elsewhere, gold and silver are faring better after some choppy moves in late trading yesterday. I’m still not entirely convinced of the rebound for the most part, unless dip buyers in gold can clear the $2,000 hurdle again.

    The risk mood is rather tepid to start the new day, but US stocks showed plenty of resilience in overnight trading so that remains a considerable factor in the day ahead.

    Besides that, stimulus talks between US lawmakers and the upcoming US-China meeting will be among other factors playing out as we look towards the weekend.

    For now, neither is really shaking investor enthusiasm so keep an eye on precious metals in case there of another meltdown that reverberates to other markets in general. Otherwise, we may keep the current themes unless there are headlines to distract from that.

    What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.

    Source: www.forexlive.com


    Lehigh Valley housing market continues to rebound during coronavirus


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