 Leonard Lardaro
What a way to end the first quarter! Midway we were informed that the previously released labor market data were significantly less favorable than we had been led to believe. The result was a vanishing of what had been a perceived acceleration in the pace of economic activity last year. Then, in light of these new data realities, we found ourselves moving sideways at best, clearly impacted by the slowing pace of national activity. Then along comes the March data. Not only did the Current Conditions Index fall from its February value of 67 to 58, as seven of the twelve CCI indicators improved, but a more in-depth analysis of this month’s data reveals ongoing deterioration in the performances of several of the indicators that had been generating a great deal of our momentum. A value of 58 for the CCI reveals that Rhode Island’s economy is expanding (50 is its neutral value) but barely.  Here are the highlights from news and events that took place in the General Assembly this week.
Existing-Home Sales on Course for Best Year since 2006, Student Loan Debt Slowing Prospective Buyers5/12/2016  Relentless supply constraints and home price growth outpacing wages are testing the patience of homebuyers this year, but existing-home sales are still on track to come in at their highest pace since 2006, according to an economic forecast forum here at the 2016 REALTORS® Legislative Meetings & Trade Expo.
Lawrence Yun, chief economist of the National Association of Realtors®, presented his midyear economic and housing forecast and was joined onstage by U.S. Sen. Elizabeth Warren (D-Mass.). Senator Warren explained with purpose the growing burden repaying student loan debt is having on young adults, the housing market and the overall U.S. economy.  Wild Side Episode #263 5/10/16 - He’ll either enlighten your mind or either blow your brains out with what he has to say. But everybody can agree with one thing: he’s not afraid to speak his mind. He is Professor David Clyde of The Wildside. Him, along with Co-Host Johnny K, Formally of Free Speech Radio & TV John Kurbiec, are here to help inject a little common sense into people.
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An Independent Media Outlet.
The views opinions and thoughts expressed do not reflect those of 990WBOB, its management or its staff. All Rights Reserved 990WBOB.com 2007-2020
Contact WBOB HERE