15 Aug

Fannie Mae Releases February 2015 National Housing Survey

first_imgFannie Mae Releases February 2015 National Housing Survey Consumers were more optimistic toward the economy than they’ve been at any point in the last five years, according to Fannie Mae’s February 2015 National Housing Survey released Monday.The percentage of respondents who said they believe the economy is on the right track increased by 3 percentage points since January’s survey up to 47 percent, an all-time high since the survey began nearly five years ago. The rise in consumer optimism is largely attributed to recent employment gains, which totaled nearly 300,000 for February and averaged 266,000 per month in the last 12 months, according to the most recent report from the Bureau of Labor Statistics. In that same BLS report, the nation’s unemployment rate dropped to 5.5 percent, its lowest level in nearly seven years.Also hitting an all-time high for Fannie Mae’s housing survey was the percentage of respondents who said they believe it is easier to get a mortgage today (54 percent). The share of respondents who said they believe it would be difficult to get a mortgage dropped by 4 percentage points to an all-time survey low of 43 percent.”Continuing improvements in consumer attitudes in this month’s National Housing Survey lend support to our expectation that 2015 will be a year of the economy dragging housing upward,” said Doug Duncan, SVP and chief economist at Fannie Mae. “The share of consumers who think the economy is on the right track rose to a record high since the inception of the survey nearly five years ago and for the first time exceeded the share who believe it’s on the wrong track. Consumer confidence seems to be getting a boost from employment growth. This is reflected in their views on the ease of getting a mortgage today, which also reached a survey high in February.”One area where Duncan said needs improvement in order for the prediction of the economy “dragging housing upward” to come true is in the area of wage gains. According to the BLS employment report released last week, the average hourly wage increased from January to February by only 3 cents up to $24.78 – after rising by 12 cents from December to January.While the percentage of respondents in Fannie Mae’s survey who said they believe home prices will go up in the next 12 months declined to 46 percent, the share who said home prices will go down also declined, to 6 percent. The percentage who said mortgage rates will go up in the next 12 months increased to 48 percent.Those numbers combined with the attitudes of survey respondents regarding their finances and income does not bode well for housing. About 46 percent of respondents said they expect their personal finances to get better in the next 12 months, representing a decline from January. The percentage of respondents who said their household income is significantly higher than it was 12 months ago declined by 5 percentage points, down to 24 percent.According to Fannie Mae, the percentage of survey respondents who said they expected to buy a home the next time they move declined by 1 percentage point but still was reported at 65 percent for February.”We continue to see strength in attitudes about the current home buying and selling environment and consistently high shares of consumers saying they expect to buy a home on their next move,” Duncan said. “At the same time, we still need to see further growth in consumer optimism toward personal finances and income for more robust improvement in housing market attitudes.”http://www.fanniemae.com/portal/research-and-analysis/housing-survey.htmlhttp://www.fanniemae.com/resources/file/research/housingsurvey/pdf/nhs-monthly-data-030915.pdf Share in Daily Dose, Data, Featuredcenter_img Bureau of Labor Statistics Doug Duncan Fannie Mae National Housing Survey 2015-03-09 Samantha Guzman March 9, 2015 562 Views last_img read more

10 Aug

London England – Reported by Elite Traveler the

first_imgLondon, England – Reported by Elite Traveler, the private jet lifestyle magazineCorinthia Hotel London welcomed the UK Minister for Culture Ed Vaizey and his esteemed panel of judges, including Downton Abbey’s Dan Stevens, to announce the winner of the five star hotel’s inaugural arts patronage initiative, the Corinthia Artist in Residency. Noemie Goudal has been selected as the first ever Corinthia Resident, and will benefit from her one month residency at Corinthia to create a collection of work to be exhibited in the hotel in April 2012.The Artist in Residency initiative reflects Corinthia London’s aim to foster the best of young talent from across different arts disciplines, this year focusing on photography.The judging panel was comprised of some of the UK’s leading voices on the arts and design scene: Ed Vaizey, Minister for Culture Dan Stevens, Actor, Downton Abbey Ben Evans, Director, London Design Festival Amanda Nevill, Director, British Film Institute Caroline Rush, CEO, British Fashion Council Josie Rourke, Artistic Director, The Donmar Warehouse Jan Dalley, Arts Editor, Financial TimesOver 1,000 recent photography graduates from British art schools all over the country were considered for the residency by responding to a creative brief focusing on different views of the vibrant cultural capital. Noemie will now take up the prestigious residency and produce a collection of work to be exhibited at the ‘Corinthia Artist in Residency Exhibition’ in an area of the hotel of her choice in April 2012 – whether it be in the grand Victorian ballroom, against the pearly walls of the four story spa ‘ESPA Life at Corinthia’, or suspended from the ceiling of the grand dining room of The Northall restaurant.The newly opened Corinthia London is placed at a cultural crossroads in the vibrant artistic hub of London. With major cultural centers all around, including the National Gallery, the British Film Institute and the National Theatre and previously unseen spectacular views from the seven individual Penthouses, there is inspiration at every turn. Artistic talent exudes from within the walls of the hotel with bespoke creations throughout, from the interior design of David Collins and GA Design, to the bronze lift doors by Greenwich-based artists Based Upon, to the stunning 1001 crystals of the bespoke ‘Full Moon’ chandelier – every feature is a work of art.Matthew Dixon, General Manager of Corinthia Hotel London said, “Corinthia London is very proud to be taking our first steps in the supporting of young British-grown artistic talent. The arts are an integral part of the DNA of the hotel, from our surrounding major cultural centers to the bespoke British art on the walls, right down to the craftsmanship that is prevalent in every detail of the hotel. We are very excited for our winner to be living and breathing the artist inspiration that Corinthia London has to offer during the residency.”Ed Vaizey, Minister for Culture and Judge of The Corinthia Residency said, “London has a worldwide reputation for the excellence of our culture and creative industries. The Corinthia Artist in Residency is a terrific scheme that will give one outstanding artist the opportunity to develop their work. I very much look forward to spending time with key players from the arts world and exploring the work of the next generation of young talent.”www.corinthia.com/Londonlast_img read more