by: Cindy Adkins, Realtor
Ok so if you follow the posts I am putting up today, you will see that I am totally on my soapbox.
This government can't tell up from down, left from right and who knows what other direction they may try to go.
I sell real estate daily and therefore follow all the trends and complete my education. I work for the public, yes "YOU". I strive to be educated so that you have the best source behind you. Well in real estate we have to move property therefore, selling for sellers and finding buyers good deals.
With the most recent decision to raise the debt ceiling, do you even have a clue what that does to real estate?? Let me tell you what it does...
The interest rates will rise in order to "recover" money to pay the national debt (so when did this become America's "fault"???)
So for you the consumer, that 4% interest rate you love and that 7% interest rate you say is just way to high. Let me give you an eye opener...
Back in the 80's when I got into real estate, that was the Savings and Loans crash, foreclosures spiked and we all thought the world would end then. Well it didn't.
As a first time homebuyer myself at that time, I was seeing 13% and 18% interest rates on loans for home purchases. Yes people were buying real estate at those rates.
I secured a loan with a 10.5% interest rate, guess what??? That was "LOW" at the time. The seller that had sold me the home had a 18% interest rate.
Wake up America, this is what is going to happen. Less home, less price, but guess what?? Same payment, due to the interest rate. I guess I should have figured it would all recycle back around in my lifetime, but we were all too blind enjoying the spending and credit charging.
Want to buy a home?? Do it now!!! I cannot stress that enough!!
Real estate is the driving force to recovery and unemployment. The less homes on the market, the better your homes value will be. So until the inventory of all homes is reduced across the country, prices will continue to fall. For those sellers who have not "woken up" from 2005 with their home values, let me shake you "W A K E U P"
Get your home out of the marketplace if you are not going to price it to "sell"!!!
Overpriced homes are stinking up our inventory. You are making buyers frustrated when they offer you comparable value to other currently closed homes and you refuse to sell.
Let's hope that today is not the day we start to see interest rates spike like a balloon a small child just released into the air. Who knows where it will stop??
Feel free to send me comments..
Thank you, Cindy Adkins
Monday, August 08, 2011
U.S. Senate Leaders End Impasse on Three Free-Trade Deals
"Why won't the government focus on getting Americans jobs and not outsource??"
August 8, 2011
Bloomberg News
Mark Drajem
Aug. 4 (Bloomberg) -- U.S. Senate leaders ended an impasse over stalled free-trade agreements, agreeing to vote after the August recess on benefits for workers who lose their jobs because of overseas competition, then take up the trade deals.
Senate Majority Leader Harry Reid, a Nevada Democrat, and Republican leader Mitch McConnell of Kentucky pledged action yesterday to pass the agreements with Colombia, Panama and South Korea. The U.S. Trade Representative’s Office and Republican House Speaker John Boehner praised the compromise, signaling all sides concur on the process.
The Senate leaders agreed that after Congress returns to work, lawmakers will consider “a bipartisan compromise on the Trade Adjustment Assistance program, followed by passage of the three FTAs,” Reid said in a statement on his website. Boehner of Ohio also pledged to move ahead with trade and worker-aid bills. Republicans had balked at the administration’s plan to combine worker aid and the Korea trade deal into a single bill, and that plan was dropped.
Business groups, including the U.S. Chamber of Commerce, have pressed lawmakers to reach a compromise to end the stalemate on trade deal-worker aid amid concern companies will fall behind competitors as the nations strike deals with other governments.
A separate South Korean free-trade agreement with the European Union has been in place since July 1, putting U.S. producers of autos, pharmaceuticals and scientific equipment at a disadvantage in the Asian economy. A deal between Colombia and Canada is scheduled to take effect Aug. 15.
$12 Billion
The three U.S. agreements may increase exports by $12 billion a year and boost the still-struggling U.S. economy, supporters say. After Congress agreed to raise the debt ceiling this week, the White House urged action on the trade deals as a means to spur hiring in the U.S. amid 9.2 percent unemployment.
The Trade Adjustment Assistance program augments health and unemployment benefits to workers who lose their jobs because of overseas competition. As part of the stimulus legislation in 2009, it was expanded to include service workers such as call- center employees. The added benefits expired in February.
The proposal from the White House, which Reid committed to consider, would continue most of those benefits through 2013, and provide retroactive assistance to those left out so far this year. It’s forecast to cost $320 million in each of the next two years.
Separate Measures
President Barack Obama wanted to have Congress consider the worker-aid program as part of the South Korea deal, the biggest of the three accords. With the deal between Reid and McConnell, trade adjustment assistance will be considered separately and before the vote on the agreements, according to the statement.
“I have long supported passage of the long-delayed FTAs, and I know that I speak for many on my side of the aisle that we are eager to get moving and finally pass them,” McConnell said in the statement. “Although I do not personally support TAA, I know there is bipartisan support for this program.”
Supporters praised the agreement, while cautioning that the process of gaining approval could again slow the pacts, which were completed in 2006 for Colombia and 2007 for South Korea and Panama.
“We must not see any more roadblocks thrown in front of these deals during the short legislative session that remains,” U.S. Chamber President Tom Donohue said in a statement.
Hurdles Ahead
The Reid-McConnell compromise has two potential hurdles. Senator Ron Wyden, an Oregon Democrat and chairman of the trade subcommittee in the Senate, has said the worker-aid measure must pass Congress before the free-trade deals are considered; Boehner said the trade deals will move together with the assistance bill.
In the Senate, the worker-aid bill won’t be considered under rules for trade agreements that limit amendments and require a simple majority for approval. That may leave the legislation open to revision, such as adding a measure making it possible for companies to petition for duties on imports from China to compensate for its weak currency.
“Extending Trade Adjustment Assistance is an important step to respond to job loss caused by foreign competition,” Senator Sherrod Brown, an Ohio Democrat, said in a statement. “But addressing unfair trade practices like Chinese currency manipulation can prevent job loss by ensuring a level playing field for American manufacturers.”
August 8, 2011
Bloomberg News
Mark Drajem
Aug. 4 (Bloomberg) -- U.S. Senate leaders ended an impasse over stalled free-trade agreements, agreeing to vote after the August recess on benefits for workers who lose their jobs because of overseas competition, then take up the trade deals.
Senate Majority Leader Harry Reid, a Nevada Democrat, and Republican leader Mitch McConnell of Kentucky pledged action yesterday to pass the agreements with Colombia, Panama and South Korea. The U.S. Trade Representative’s Office and Republican House Speaker John Boehner praised the compromise, signaling all sides concur on the process.
The Senate leaders agreed that after Congress returns to work, lawmakers will consider “a bipartisan compromise on the Trade Adjustment Assistance program, followed by passage of the three FTAs,” Reid said in a statement on his website. Boehner of Ohio also pledged to move ahead with trade and worker-aid bills. Republicans had balked at the administration’s plan to combine worker aid and the Korea trade deal into a single bill, and that plan was dropped.
Business groups, including the U.S. Chamber of Commerce, have pressed lawmakers to reach a compromise to end the stalemate on trade deal-worker aid amid concern companies will fall behind competitors as the nations strike deals with other governments.
A separate South Korean free-trade agreement with the European Union has been in place since July 1, putting U.S. producers of autos, pharmaceuticals and scientific equipment at a disadvantage in the Asian economy. A deal between Colombia and Canada is scheduled to take effect Aug. 15.
$12 Billion
The three U.S. agreements may increase exports by $12 billion a year and boost the still-struggling U.S. economy, supporters say. After Congress agreed to raise the debt ceiling this week, the White House urged action on the trade deals as a means to spur hiring in the U.S. amid 9.2 percent unemployment.
The Trade Adjustment Assistance program augments health and unemployment benefits to workers who lose their jobs because of overseas competition. As part of the stimulus legislation in 2009, it was expanded to include service workers such as call- center employees. The added benefits expired in February.
The proposal from the White House, which Reid committed to consider, would continue most of those benefits through 2013, and provide retroactive assistance to those left out so far this year. It’s forecast to cost $320 million in each of the next two years.
Separate Measures
President Barack Obama wanted to have Congress consider the worker-aid program as part of the South Korea deal, the biggest of the three accords. With the deal between Reid and McConnell, trade adjustment assistance will be considered separately and before the vote on the agreements, according to the statement.
“I have long supported passage of the long-delayed FTAs, and I know that I speak for many on my side of the aisle that we are eager to get moving and finally pass them,” McConnell said in the statement. “Although I do not personally support TAA, I know there is bipartisan support for this program.”
Supporters praised the agreement, while cautioning that the process of gaining approval could again slow the pacts, which were completed in 2006 for Colombia and 2007 for South Korea and Panama.
“We must not see any more roadblocks thrown in front of these deals during the short legislative session that remains,” U.S. Chamber President Tom Donohue said in a statement.
Hurdles Ahead
The Reid-McConnell compromise has two potential hurdles. Senator Ron Wyden, an Oregon Democrat and chairman of the trade subcommittee in the Senate, has said the worker-aid measure must pass Congress before the free-trade deals are considered; Boehner said the trade deals will move together with the assistance bill.
In the Senate, the worker-aid bill won’t be considered under rules for trade agreements that limit amendments and require a simple majority for approval. That may leave the legislation open to revision, such as adding a measure making it possible for companies to petition for duties on imports from China to compensate for its weak currency.
“Extending Trade Adjustment Assistance is an important step to respond to job loss caused by foreign competition,” Senator Sherrod Brown, an Ohio Democrat, said in a statement. “But addressing unfair trade practices like Chinese currency manipulation can prevent job loss by ensuring a level playing field for American manufacturers.”
Downgrade 'Powerful Incentive For Lawmakers To Do The Hard Work Necessary To Get Our Fiscal House In Order'
August 8, 2011
The Daily Caller
Jamie Weinstein
U.S. Chamber of Commerce President and CEO Thomas Donohue said Sunday that Standard & Poor’s decision to downgrade America’s credit rating Friday should serve as a wake-up call for lawmakers to fix America’s pressing long-term fiscal imbalances.
“While we don’t agree with S&P’s decision to downgrade America’s credit rating, its action should be another powerful incentive for lawmakers to do the hard work necessary to get our fiscal house in order,” Donohue said in a statement. “While the Chamber supported the debt ceiling deal as an important first step, let’s not forget that the agreement only slows the increase in the rate of spending. Instead of adding $10 trillion in debt over the next decade, we will add $7 trillion to $8 trillion. That’s not good enough.” (RELATED: Axelrod: ‘This is essentially a tea party downgrade’)
Donohue also indicated that he believes reform should begin with America’s tax code and entitlement programs.
“We will never tackle debts and deficits, jumpstart this recovery, reduce uncertainty, and create millions of jobs until we overhaul our tax code and reform runaway entitlement programs that threaten to push us into insolvency,” he said. “This downgrade is additional proof that we can’t kick the can down the road any longer. The time to act is now.”
The Daily Caller
Jamie Weinstein
U.S. Chamber of Commerce President and CEO Thomas Donohue said Sunday that Standard & Poor’s decision to downgrade America’s credit rating Friday should serve as a wake-up call for lawmakers to fix America’s pressing long-term fiscal imbalances.
“While we don’t agree with S&P’s decision to downgrade America’s credit rating, its action should be another powerful incentive for lawmakers to do the hard work necessary to get our fiscal house in order,” Donohue said in a statement. “While the Chamber supported the debt ceiling deal as an important first step, let’s not forget that the agreement only slows the increase in the rate of spending. Instead of adding $10 trillion in debt over the next decade, we will add $7 trillion to $8 trillion. That’s not good enough.” (RELATED: Axelrod: ‘This is essentially a tea party downgrade’)
Donohue also indicated that he believes reform should begin with America’s tax code and entitlement programs.
“We will never tackle debts and deficits, jumpstart this recovery, reduce uncertainty, and create millions of jobs until we overhaul our tax code and reform runaway entitlement programs that threaten to push us into insolvency,” he said. “This downgrade is additional proof that we can’t kick the can down the road any longer. The time to act is now.”
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