The economy plodded ahead at a 0.9 percent pace in the first quarter - slightly better than first estimated - but still underscoring caution on the part of consumers and businesses affected by housing, credit and financial constraints.
In the housing market, builders reduced spending on housing projects by 25.5 percent in the first quarter. However, investment in commercial construction wasn't as weak as the government first estimated, contributing to the upward revision to first-quarter GDP.
Looking ahead, top forecasters at the National Association for Business Economics predict the economy will creep along at a 0.4 percent growth rate during the April-to-June period, which is expected to be the weakest quarter of the year. Growth should pick up to a 2.2 percent pace in the third quarter, energized by the Fed's powerful series of rate reductions and billions of dollars worth of tax rebates to consumers. Source: Real Trends
Saturday, June 7, 2008
"Homebuying 101" - A Free Conference for Consumers
The South Carolina Department of Consumer Affairs will sponsor its second annual "Homebuying 101: Building the Foundation for Your American Dream" on Wednesday, June 25.
Consumers looking to buy a home as well as business professionals in the industry are encouraged to attend this one-day workshop. The workshop will explore credit scores, credit repair and mortgage opportunities.
The workshop is free and will be held at the Brookland Banquet and Conference Center in West Columbia. Breakfast and lunch will be provided.
Consumers looking to buy a home as well as business professionals in the industry are encouraged to attend this one-day workshop. The workshop will explore credit scores, credit repair and mortgage opportunities.
The workshop is free and will be held at the Brookland Banquet and Conference Center in West Columbia. Breakfast and lunch will be provided.
Horry County tests paper ballot scanner
Horry County tests paper ballot scanner
The Horry County Office of Voter Registration made sure it was ready for the upcoming elections this Tuesday.
Workers are required by the state to test a scanner that will be used to count any paper ballots for the primaries.
Absentee ballots and any paper ballots cast on election day are read by the scanner.
Back in the January Republican Primary, precincts had to use paper ballots but didn't have enough.
About 1,500 absentee ballots have been cast so far in Horry County.
The Horry County Office of Voter Registration made sure it was ready for the upcoming elections this Tuesday.
Workers are required by the state to test a scanner that will be used to count any paper ballots for the primaries.
Absentee ballots and any paper ballots cast on election day are read by the scanner.
Back in the January Republican Primary, precincts had to use paper ballots but didn't have enough.
About 1,500 absentee ballots have been cast so far in Horry County.
Friday, June 6, 2008
Ed McMahon is facing foreclosure
Ed McMahon is facing foreclosure on his Beverly Hills home, which is up for sale, the Wall Street Journal reports. He owes $644,000 in payments on the $4.8 million mortgage. His spokesman says the former Johnny Carson sidekick has been unable to work since he broke his neck 18 months ago. Not helping: The house, listed at $6.25 million, is near Britney Spears' home, which is sporadically mobbed by paparazzi.
Thursday, June 5, 2008
Farrow Parkway Interchange Project
A public hearing will take place on Thursday afternoon to discuss the Bypass 17 and Hwy 707- Farrow Parkway Interchange Project at the Backgate of the former Air Force Base.
From 4 to 7, the base recreation center will host the drop-in format with displays for viewing.
Input is welcomed from residents and businesses in the area.
The project is a part of the one-cent capital project tax for roads
From 4 to 7, the base recreation center will host the drop-in format with displays for viewing.
Input is welcomed from residents and businesses in the area.
The project is a part of the one-cent capital project tax for roads
Tuesday, June 3, 2008
World's first rock and roll theme park
Hard Rock Park is the world's first rock and roll theme park and is a $400 million investment on the Grand Strand.
The June 2nd Grand opening offered the Eagles performing a live show. The June 3rd event Offered a Live show with the Moody Blues.
Some of those attending, came from hundreds of miles away.
Even the stars were excited. Daryl "DMC" McDaniel said, "You can get all the people from everywhere, anyplace in the world, and you can come here and we can celebrate rock and roll, but at the same time we can celebrate the people."
Celebrate people of all ages. Dale Kaetzel the General Manager of Hard Rock Park said, "Keep in mind in 1968, Led Zeppelin put out their first album. If you were 25 years old back then, you're 65 today, so it's the first multi-generational theme park as well."
The June 2nd Grand opening offered the Eagles performing a live show. The June 3rd event Offered a Live show with the Moody Blues.
Some of those attending, came from hundreds of miles away.
Even the stars were excited. Daryl "DMC" McDaniel said, "You can get all the people from everywhere, anyplace in the world, and you can come here and we can celebrate rock and roll, but at the same time we can celebrate the people."
Celebrate people of all ages. Dale Kaetzel the General Manager of Hard Rock Park said, "Keep in mind in 1968, Led Zeppelin put out their first album. If you were 25 years old back then, you're 65 today, so it's the first multi-generational theme park as well."
Monday, June 2, 2008
REALTORS® Have a Strong Stake in Preventing
REALTORS® Have a Strong Stake in Preventing
Abusive Lending
Abusive and predatory lending practices are a serious problem for our nation's communities. Because of abuses in the subprime market, families are losing their homes and savings, foreclosure rates are higher, and some neighborhoods face increased vacancy rates. Empty neighborhoods, or those where the majority of houses are for sale, can be perceived as blighted. This leads to declining prices and inevitably devastates the strength and stability of those communities and the families who live there.
How Did This Happen?
During the real estate boom, many lenders originated risky mortgages with floating interest rates and weak underwriting standards. While some in the media may have over-dramatized the situation, a number of subprime lenders that made problematic loans have gone out of business, and the delinquency rate for subprime loans at the end of 2006 was more than 13 percent--4.5 percent are in foreclosure.
Subprime Lending Does Have a Legitimate Role
for Many Borrowers
While abusive lending does occur primarily in subprime markets, not all subprime loans are abusive or problematic. In fact, responsible subprime lenders have played an important role in helping millions of consumers achieve homeownership. NAR supports federal legislation and regulation that prevents predatory lending while maintaining a role for responsible subprime lending.
Education is Key
REALTORS® believe that financial education is an important defense against abusive lending practices. NAR and its partners have issued a series of consumer education brochures. They emphasize the importance of understanding the different types of available mortgages, explain how to avoid the pitfalls and entrapments of predatory loans, and suggest what homeowners should do if they are concerned about their mortgage or foreclosure.
Consumers who need immediate advice should call 888/995-HOPE, or visit www.995hope.org.
Abusive Lending
Abusive and predatory lending practices are a serious problem for our nation's communities. Because of abuses in the subprime market, families are losing their homes and savings, foreclosure rates are higher, and some neighborhoods face increased vacancy rates. Empty neighborhoods, or those where the majority of houses are for sale, can be perceived as blighted. This leads to declining prices and inevitably devastates the strength and stability of those communities and the families who live there.
How Did This Happen?
During the real estate boom, many lenders originated risky mortgages with floating interest rates and weak underwriting standards. While some in the media may have over-dramatized the situation, a number of subprime lenders that made problematic loans have gone out of business, and the delinquency rate for subprime loans at the end of 2006 was more than 13 percent--4.5 percent are in foreclosure.
Subprime Lending Does Have a Legitimate Role
for Many Borrowers
While abusive lending does occur primarily in subprime markets, not all subprime loans are abusive or problematic. In fact, responsible subprime lenders have played an important role in helping millions of consumers achieve homeownership. NAR supports federal legislation and regulation that prevents predatory lending while maintaining a role for responsible subprime lending.
Education is Key
REALTORS® believe that financial education is an important defense against abusive lending practices. NAR and its partners have issued a series of consumer education brochures. They emphasize the importance of understanding the different types of available mortgages, explain how to avoid the pitfalls and entrapments of predatory loans, and suggest what homeowners should do if they are concerned about their mortgage or foreclosure.
Consumers who need immediate advice should call 888/995-HOPE, or visit www.995hope.org.
Sunday, June 1, 2008
Warbird Park / Valor Memorial Garden
The colorful history of the former Myrtle Beach Air Force Base was remembered on Saturday as several memorials were dedicated.
Hundreds of veterans and their families turned out for the official dedication of Warbird Park and the Memorial Wall of Service, and also the Valor Memorial Garden.
More than 700 nameplates have been bought by and for those who served in either a military or civilian capacity.
The engraved blue nameplates are $20 each.
Hundreds of veterans and their families turned out for the official dedication of Warbird Park and the Memorial Wall of Service, and also the Valor Memorial Garden.
More than 700 nameplates have been bought by and for those who served in either a military or civilian capacity.
The engraved blue nameplates are $20 each.
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