How Are the Banks Doing?

With this crazy economy how are the banks doing? Wells Fargo reported a 3 billion dollar gain for there first quarter in 2009! Wells Fargo says it has to do with strong operating results from its acquisition of Wachovia and that lending activity has been brisk. Many are saying that although the Wells Fargo incident is nice to hear it is more then likely a one-time event.

As for the rest of the banks they are playing it cool. “A lot of banks got caught with their pants down,” said Dave Rovelli, managing director of U.S. equity trading with Canaccord Adams. But with the improved economic data, government plans to aid help and positive comments about the stock market many people do not expect the economy to recover as fast as they would like.

Unemployment is still down which reflects that it is still difficult to find work for the unemployed. Hopefully better news is right around the corner for many and with the government’s help the big banks can get back on track! I guess only time will tell and hopefully it will tell positive news sooner then later ☺

A Ray of Hope for the Economy

With the current state of the economy is there a ray of hope shining through? According to a recent article found at money.cnn many economists are seeing signs of recovery as early as this summer! Even though New York unemployment is at a 25 year all time high there could be a silver lining right around the corner. Economists are saying they are seeing indicators bottoming out left and right. Starting with job losses peaking in January to increased home sales and stocks. Even better news is because the economy took such a steep fall they are hopeful that the recovery will be that much stronger.

Some economists are saying recovery could be as close to four months away! Such as economist Lakshman Achuthan, managing director of Economic Cycle Research Institute. He says his firm’s readings on long-term and short-term economic indicators give him significantly more hope that the economy is closer to a turnaround than he had thought even a month ago! Among the more than dozen different things his firm looks at are home prices, the jobs picture and stock prices.

Mark Zandi, chief economist of Moody’s Economy.com, also believes that a recovery could be closer than most people think. However, he said an end to the recession would largely depend on improvement in the labor markets. His first concern is getting job losses under control. He says if we can help improve job losses that will help build consumer confidence back into the economy and stocks.

I say the sooner the better! I love reading good news…

The Economy - How bad is bad?

Unfortunately the economy in its current state is being compared to the great depression of 1873! The great depression started the exact same way as our current economy with the stock market crashing, Wall Street panicking and business shutting down across America.

Is it really fair to compare today to 1873? James Kolari, an economist disagrees with this comparison. His argument is that it is unfair to compare now to then because the federal government was fair more passive then they are today. Back then the federal government let 15,000 out of 30,000 banks fall!

But Nelson, a historian who has studied the panic of 1873, says today’s economy might even be worse than the American economy in 1873! It took America four years to recover in 1873 and current predictions for the current economy recovery is around 5 years!

Either way you look at it, it is not a good situation. My feeling is Obama brings hope. I am all for his $787 billion stimulation plan if it could possible helps the current situation! We are living in scary times and the best thing to do is have hope.

The Top Abandoned Cities

When you think of bright lights and a big city one of the first places that comes to mind is Las Vegas. With the economy the way it is, unfortunately it is at the top of the list for abandoned cities. Las Vegas is an adults play ground if you have the dough, but if you have no dough like the state of many adults your main concern is putting food on the dinner table, not buying a stack of poker chips. Las Vegas is an expensive treat and one that is just not a priority to very many people at this time. On top of that the once lavish construction sites and economic growth areas have all come to a screaming halt!

So what comes in at number two you may ask? Well remember Detroit known as the backbone for the American industry? You guessed it, it is the number two most abandoned city. Detroit is suffering from the great economic decline because of the role the city played in the past.

While Las Vegas and Detroit were neck in neck for the title, Las Vegas pulled ahead with all of the vacant houses. According to Forbes abandoned cities were determined by pulling a combination of rental and homeowner vacancy rates, with Las Vegas suffering the most because of bad loans and decreasing property value.

So what is to come for these two troubled cities? Time will only tell…

Stores to Watch Out For

We all know that the economy is not in a very good spot as we speak. I wanted to do some personal research and find out which stores were going out of business and which stores are in fear of going out of business. According to Forbes.com Circuit City, Linens ‘N Things and Mervyn’s stores are all going out of business! More pain is predicted along the way as a women’s survey suggested that one third of the women claimed they did not plan on purchasing any new clothing in 2009! Lane Bryant, Gap, and Starbucks are some of the companies that we are supposed to keep our eye on, as they are not predicted to do well in the New Year.

Research suggests that the market will not be the same for a long period of time and could take easily up to 10 years to get back on track. Eddie Bauer, Pacific Sunwear, along with Zales, the big jewelry chain are other stores to keep watch over. All of these retailers are currently having a really hard time making it in the market. It is tough to survive right now and only the strongest will survive as retailers struggle more and more. Stay tuned for continued up dates…

Where are the two worst places to live in 2009…

If you are thinking about moving to another state this list can help alert you of the two cities you should steer clear of. If you are wondering what factors contribute to making them the worst place to live, there are a variety of factors. These factors include public relations image, dwindling population, collapsing auto industry, and poverty among other things.

The number one worst place to live is Motown in New York City. The funny thing about New York City is a different part of New York is on the best city to live list. New York ranked on both lists because the city has so much to offer both in positive and negative ways. The positive attributes include entertainment, Central Park, and great public transportation. The negatives include very high rent and cost of living, crammed subways, extremely long commutes and a number of other things.

Coming in at number two is Detroit Michigan. The two worst attributes for Detroit are health and safety, which either category can be looked at lightly. When looking at your options make sure to do your research so you know what you are moving yourself into. Good luck and happy city hunting ☺

Best Places to Raise Your Kids…

If you have children then this information may be very helpful. Have you ever wondered where are the best places to raise a family? Well the results are in and listed below. Looking at school performance, number of schools, crime rates, air quality, job growth, family income, parks, theaters and other aspects analyzed each city. After looking at many locations here is what was found out:

1. Huntsville, Alabama- This town is known for having more then enough activities for families to do together. You do not have to leave town to find fun things to do, you just walk right out your front door.

2.Anchorage, Alaska- This town offers a strong economy, amazing wildlife, great air quality and low crime rates. What more could you ask for except a heater!

3.Gilbert, Arizona- This town has water parks, theaters galore, skate parks, and over 200 species of birds.

4.Springdale, Arkansas- With parks, rodeo’s, a minor league baseball stadium, hunting and fishing right in your back yard what more could you ask for?

5. Arcadis, California- Coming in at number 5 offers the best schools in California, parks, and live peacocks for all to see from there own front yard!

These are the top 5 stay tuned for the rest of the runners up

My Neighborhood

I live in a neighborhood where a lot of my family also live. My fiancé and I own our home, his brother and wife own the house next door to us and my fiancé’s parents own the house 4 houses up on the opposite side of the street. It is neat to have everyone so close and in walking distance! Currently there are a lot of houses for sale on our block. The house right next door to us on the opposite side of my brother in laws house is for sale. Then the house 2 houses down from us are for sale. I would say out of 20 homes on our block about one forth of them are for sale. With the economy the way it is I would never try to sell our home right now.

The unfortunate fact is that some people have no choice but to sell there home. Either they cannot afford to have a home, or they are trying to downgrade to save money. It is a scary time for everyone and I can feel it more and more everyday. My fiancé and I are fortunate to be able to afford our home but we always have to plan ahead.

Hopefully the economy will get better soon but it does not look good for a while ☹

With a Change in the Economy top 5 places to now live…

Since the economy has changed so much recently so has the top five states to live in. With a new list of top five states there are a lot of things to consider when choosing a new location for a home. There are many things that people are looking for including comfortable living and a stronger economy and a safe environment to raise a family.
The best place to live with plentiful jobs, excellent schools and affordable housing, an active outdoor culture and low crime is Plymouth Minnesota.
Coming in second is Fort Collins Colorado, with a bike lane on every new road built even the carless can get around.
Third place goes to Naperville Illinois. In Naperville the walk able down town area is packed with restraints, shops and the jobs are plentiful!
Forth place goes to Irvine California. Many people consider Irvine the perfect place to live with its school districts winning numerous awards and the majority of the jobs provided by the University.
At fifth place Franklin Township New Jersey. With plenty of high tech, pharmaceutical and research development plants there is more then enough of jobs to go around! So next time you are looking to relocate make sure to check out these places especially if it is in the next couple of months!

More Locations to Live in 2008

A few weeks ago I did a post about the top five spots to live in, in the United States. This is the list of the areas that placed from rank 6 to 10. Being in the top ten is still recognizable and worth checking out!

At number 6 it is Stevens Point, Wisconsin. Stevens Point is located in the middle of the state and it is said that it has something for everyone. It has green space, waterways, hiking trials, and biking trials, cross country skiing and much more!

Coming in at number 7 is Asheville, North Carolina. In Asheville it is said that there is always something going on. It has a great down town area where artists and street musicians line the streets. Asheville has 30 plus art galleries, excellent shopping boutiques, retail shops and even a variety of antique shops.

At number 8 it is Albuquerque, New Mexico. Albuquerque is the largest city in New Mexico. It is known for providing a sunny dry climate about 300 days of the year! The city has four seasons but they are all very mild and mostly warm.

Number 9 is Huntsville, Alabama. Huntsville offers a wealth of education, sports and cultural activities. It also has four seasons and the average temperature is 60 degrees.

Last but not least number 10 is Seattle, Washington. I have a special place in my heart for Seattle. It probably has to do with the fact that my fiancé went to Seattle University and my sister lives in Gig Harbor. Seattle offers a natural beauty that would inspire any couch potatoe!

If you are in the market to relocate be sure to keep these places in mind!