Fiscal cliff will lead to a recession and drop in real estate | Armonk Homes

-

Fiscal cliff intro:

 In the United States, the fiscal cliff is a term used to refer to the economic effects that could result from tax increases, spending cuts and a corresponding reduction in the US budget deficit, beginning in 2013 if existing laws are not changed by the end of 2012.

 The deficit—the difference between what the government takes in and what it spends—is expected to be reduced by roughly half beginning in the first days of 2013.

 This sharp decrease in the deficit in such a short period of time is known as the fiscal cliff.

 However, the CBO estimates this sudden reduction will probably lead to a mild recession in 
early 2013.
via trulia.com

Comments

Post a Comment

Popular posts from this blog

Four Regional Banks Discuss Settlement Over Foreclosures | Waccabuc Real Estate

-
Image
U.S. state attorneys general are pressing four banks to accept a legal settlement over botched foreclosures similar to a deal reached with larger competitors this year, according to three people briefed on the matter. U.S. Bancorp (SFBC) , PNC Financial Services Group (PNC) Inc., SunTrust Banks Inc. (STI) and HSBC Holdings Plc (HSBA) have held talks with state and federal officials who investigated claims that loan servicers mishandled foreclosure documents, according to the people, who spoke on condition of anonymity because the talks are private. U.S. Bancorp Said to Join PNC in Talks on Mortgage Settlement Jeff Kowalsky/Bloomberg Mortgage servicers typically handle billing and collections, as well as foreclosures when borrowers fail to pay. Neil Brazil , a spokesman for HSBC’s North America unit, said in an e-mail that the London-based lender has conducted “preliminary discussions with its bank regulators and other
Read more

Top 20 real estate websites in June | Mount Kisco Real Estate

-
Last year, Realtor.com and Yahoo Real Estate battled it out for the top position in the monthly real estate website rankings maintained by Web metrics firm Experian Hitwise . So far this year, Zillow has been king of the hill, having bumped Yahoo Real Estate from the top spot in March. Jockeying for the spots below first place has also been fierce, with Trulia jumping two positions into second place on the Hitwise list in June. Trulia leapfrogged over third-place Realtor.com, bumping Yahoo Real Estate into third place in the process. AOL Real Estate, meanwhile, moved up two positions from May to June, but there were no new websites in the top 10. The Hitwise rankings don't tally mobile app users, an increasingly popular option among consumers conducting listing searches. But they still provide a window into who's winning the battle for eyeballs -- an important consideration for brokers and agents in deciding where to spend their marketing dollars. According to Hitwise, t
Read more