http://finance.yahoo.com/news/Service-sector-expands-in-rb-3367128011.html?x=0&sec=topStories&pos=2&asset=&ccode=
"NEW YORK (Reuters) - The U.S. services sector grew in February at its fastest pace in more than two years, according to an industry report released on Wednesday.
The Institute for Supply Management said its services index rose to 53.0 from 50.5 in January. The reading was the highest since December 2007 and well above the 51.0 median forecast of 71 economists surveyed by Reuters.
A reading above 50 indicates expansion in the services sector, which accounts for the majority of U.S. employment.
The index's employment component jumped to 48.6 from 44.6 the prior month while the prices paid component fell to 60.4 from 61.2."
Here's the KEY!
We got expansion in the service sector!!!
Can you give me a big BOOYAH bulls?
[less]
Response by ericho75
almost 16 years ago
Posts: 1743
Member since: Feb 2009
Com'on out bears!
Give it to me!!!
Who let the bulls out! Grrr! Grrr! Grrr!
Who let the bulls out! Grrr! Grrr! Grrr!
Who let the bulls out! Grrr! Grrr! Grrr!
Who let the bulls out! Grrr! Grrr! Grrr!
Ignored comment.
Unhide
Response by ericho75
almost 16 years ago
Posts: 1743
Member since: Feb 2009
Grrrrr!!!
Not a word from da bears.
Love it.
E X P A N S I O N!!
Ignored comment.
Unhide
Response by marco_m
almost 16 years ago
Posts: 2481
Member since: Dec 2008
how is this gonna help manhattan RE right now? you still fail to realize that the sources which fueled the RE bubble are now gone. there is no more cheap money or all cash bonuses. not to mention the permanent loss of many mid to lower level banking jobs which have gone overseas.
How are things at Georgica and Isis ? not lookin to buulish there.
Ignored comment.
Unhide
Response by tina24hour
almost 16 years ago
Posts: 720
Member since: Jun 2008
Um, there is a ton of cheap money. Maybe not on the very high end, but our friends at the FHA have turned their ugly duckling loans into swans. And before you all scream "new subprime crisis" at me, I want to point out that the buyers who are qualifying for these loans are not "no-doc" types. The money is cheap, but it ain't easy.
Tina
(Brooklyn broker)
Ignored comment.
Unhide
Response by JuiceMan
almost 16 years ago
Posts: 3578
Member since: Aug 2007
"there is no more cheap money"
wrong, LOTS of cheap money available.
Ignored comment.
Unhide
Response by positivecarry
almost 16 years ago
Posts: 704
Member since: Oct 2008
Indeed.
Ignored comment.
Unhide
Response by marco_m
almost 16 years ago
Posts: 2481
Member since: Dec 2008
so someone who makes 150k a year can go out and get a no down payment loan?
Ignored comment.
Unhide
Response by tina24hour
almost 16 years ago
Posts: 720
Member since: Jun 2008
A low down payment loan, yes. As low as 3.5%.
Ignored comment.
Unhide
Response by alanhart
almost 16 years ago
Posts: 12397
Member since: Feb 2007
Some of their literature says 3% down. And I believe you can get a friend or relative to lend you that without penalty or prejudice. And you can roll closing costs and mortgage insurance into the mortgage. And you can get renovation funds with the mortgage. And you can do it all with a 1-4 unit building.
Tragic.
Ignored comment.
Unhide
Response by malthus
almost 16 years ago
Posts: 1333
Member since: Feb 2009
ericho: First I will say thanks for the link as it is interesting reading.
Second, do you have any analysis of how this affects NY real estate? Seriously, otherwise it is just noise. E.g. when I look at the direct source for this, two things popped out:
1. "DO NOT CONFUSE THIS NATIONAL REPORT with the various regional purchasing reports released across the country."
2. "Employment activity in the non-manufacturing sector contracted in February for the 26th consecutive month."
Given what we know about the NYC real estate market starting downward long after the rest of the country and given that employment is one of the prime drivers, how do these factors affect your analysis?
Com'on out bears!
Give it to me!!!
Who let the bulls out! Grrr! Grrr! Grrr!
Who let the bulls out! Grrr! Grrr! Grrr!
Who let the bulls out! Grrr! Grrr! Grrr!
Who let the bulls out! Grrr! Grrr! Grrr!
Grrrrr!!!
Not a word from da bears.
Love it.
E X P A N S I O N!!
how is this gonna help manhattan RE right now? you still fail to realize that the sources which fueled the RE bubble are now gone. there is no more cheap money or all cash bonuses. not to mention the permanent loss of many mid to lower level banking jobs which have gone overseas.
How are things at Georgica and Isis ? not lookin to buulish there.
Um, there is a ton of cheap money. Maybe not on the very high end, but our friends at the FHA have turned their ugly duckling loans into swans. And before you all scream "new subprime crisis" at me, I want to point out that the buyers who are qualifying for these loans are not "no-doc" types. The money is cheap, but it ain't easy.
Tina
(Brooklyn broker)
"there is no more cheap money"
wrong, LOTS of cheap money available.
Indeed.
so someone who makes 150k a year can go out and get a no down payment loan?
A low down payment loan, yes. As low as 3.5%.
Some of their literature says 3% down. And I believe you can get a friend or relative to lend you that without penalty or prejudice. And you can roll closing costs and mortgage insurance into the mortgage. And you can get renovation funds with the mortgage. And you can do it all with a 1-4 unit building.
Tragic.
ericho: First I will say thanks for the link as it is interesting reading.
Second, do you have any analysis of how this affects NY real estate? Seriously, otherwise it is just noise. E.g. when I look at the direct source for this, two things popped out:
1. "DO NOT CONFUSE THIS NATIONAL REPORT with the various regional purchasing reports released across the country."
2. "Employment activity in the non-manufacturing sector contracted in February for the 26th consecutive month."
Given what we know about the NYC real estate market starting downward long after the rest of the country and given that employment is one of the prime drivers, how do these factors affect your analysis?