|Dwight Johnston, Vice President and Chief Economist for the California and Nevada Credit Union Leagues|
HOUSING: NOT TOO HOT, NOT TOO COLD
updated 10/25/13 11:45 AM
Stable Market in Sight
The housing markets in California and Nevada have been raging for more than a year. Prices and sales languished for almost three years after the economic recovery began and the confidence factor kept buyers at bay.
But that changed last year when big investment money started flowing into housing. Several multi-billion dollar and slightly smaller funds sprang up out of nowhere.
The tidal wave of money from Wall Street became caused something to snap on the part of would-be homebuyers. Not only did buyers find a reason to be confident that home prices have bottomed, they finally discovered the power of low mortgage rates.
However, homebuyers found a competitive market instead of a market awash with homes begging for purchasers. The abundant supply of homes had vanished. The market went from ice cold to boiling hot in a matter of a few short months.
GAIN EXPERIENCE ON LEAGUE COMMITTEE updated
09/15/14 01:21 PM
Submit Committee Interest Questionnaire
Are you interested in serving a one-year appointment on a California Credit Union League committee?
LEAGUE ADVOCACY BLOG GAINS TRACTION updated
09/12/14 04:13 PM
Sign Up for Alerts
The new Advocacy Blog launched by the California and Nevada Credit Union Leagues in August is gaining steam as more credit union advocacy professionals and others in the industry continue signing up to receive e-mail alerts on important state and federal updates.
FOCUSED ON 'ONE TO ONE' RELATIONSHIP updated
09/12/14 02:01 PM
Printing Industries CU
Susan Conjurski’s biggest hurdle is making sure her credit union keeps a competitive edge with larger financial institutions—a task that’s “quite a challenge,” she says.
PENALTY POLICY: SMALL VS LARGE CUs updated
09/11/14 06:50 AM
Federal Reserve’s Impact
The Federal Reserve’s ultra-low interest rate policy created the desired impact when it was instituted in 2008. Short-term funding costs plunged for financial institutions, allowing them to cheaply fund higher-yielding assets and restore capital.