|Dwight Johnston, Vice President and Chief Economist for the California and Nevada Credit Union Leagues|
|The 2012 Housing Market: Bouncing Back|
IS HOUSING JUST RIGHT, OR TOO HOT?
updated 05/17/13 12:36 PM
Economist Looks at 'Bubble' Talk
The “story of the year” in 2012 in California and Nevada was the housing market recovery, one that continued in the first quarter of 2013. Median prices surged by roughly 20 percent last year—a rise that was fueled by extraordinary demand by investors.
The confluence of Wall Street-type money managers and record low interest rates have caused some behaviors that are characteristic of a “bubble” market. Primarily, multiple offers on homes in many areas have become the rule rather than the exception. As buyers have seen the supply of homes on the market dwindle, they've been aggressive in bidding above asking prices.
Should we worry about a bubble?
NCUF RELEASES ANNUAL REPORT updated
08/29/14 02:44 PM
Activities From Last 12 Months
The National Credit Union Foundation (NCUF) released its 2013-2014 Annual Report, entitled “Improving People’s Financial Lives through Credit Unions.” The report highlights the organization's program and grant activities during the past 12 months.
WEEKLY E-FILING BILL SIGNED INTO LAW updated
08/28/14 02:18 PM
Will Streamline Reports for CUs
California Gov. Jerry Brown has signed Assembly Bill 2298, legislation that will allow financial institutions which hold local agency deposits to submit their weekly reports to the California Department of Business Oversight (DBO) electronically rather than through U.S. mail.
NEW STATE LAWMAKERS SHAPE DIRECTION updated
08/27/14 08:24 PM
California Assembly and Senate
New leadership in California will help form the state’s priorities in the coming years. Here’s what your credit union needs to know:
CFPB ISSUES FINAL 'TILA' ADJUSTMENTS updated
08/24/14 11:35 AM
Rule Reviews Dollar Amounts
The Consumer Financial Protection Bureau (CFPB) is issuing its final rule on Truth in Lending Act (TILA) annual threshold adjustments, amending the regulatory text and official interpretations for Regulation Z, which implements TILA.