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Sandpoint,
Idaho Economic Good News Blog
We read and hear enough bad news.
Here is a blog that reports the positive things happening locally and nationally
about real estate and the economy.
Thursday, April 09, 2009
Wells Fargo expected to report over $3 billion in
profits this quarter, with signs that
other banks will likewise be reporting positive figures.
Jobless claims, while still elevated, are 20,000
lower than last week.
Today is
Thursday and the stock market is beginning strong. In fact, the stock market has
been trending well for the last several weeks, ever since it began regaining
ground the first week of March.
Shoppers stay cautious, but sales declines ease
Inventory
levels for retailers and manufacturing are at the lowest mark in seventeen
years.
According to Business Week and MSNBC, there are
Signs of life emerging in housing sector - Sales are picking up in some of
the nation’s hardest-hit
regions. With tax breaks being provided by the government, prices lower than
they have been in years, and interest rates at historic lows, the market is just
too enticing for many buyers to wait for an even lower bottom. KXLY reported
this morning that one local bank had rates under 4%!
As of the end of March
A
host of data indicates that the American housing market is heating up. Overall,
mortgage applications were up 21.2% last week, while application volume was up
31.2% unadjusted from the same week in 2008. Yet 72.9% of the mortgage
applications were refinancings, "it may be that many of the mortgage applicants
have lost their jobs and are hoping to borrow to tide them over until they find
job relocation." Source (http://www.stockresearchportal.com)
Also the end of March saw the Idaho legislature approved $82 million for North
Idaho roads. While this is down from the original $125 million, it is still a
boon for jobs and creating better access.
Plus, there are several new businesses opening in Sandpoint. I have the great
luck to interview many new operations in my role as the host of the North
Idaho Business radio show. For instance, the Integrative Athlete studio just
opened at the Cedar Street Bridge, and yesterday in the Bonner County Daily Bee
an article about the new restaurant Dish Home Cooking packed in the crowds
Wednesday night. I was there with DJ Jonny Knight, and we had a blast.
Read this article.
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