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Illovo Sugar Limited 2007 Annual Report

first_imgIllovo Sugar Limited ( listed on the Malawi Stock Exchange under the Food sector has released it’s 2007 annual report.For more information about Illovo Sugar Limited ( reports, abridged reports, interim earnings results and earnings presentations, visit the Illovo Sugar Limited ( company page on AfricanFinancials.Document: Illovo Sugar Limited (  2007 annual report.Company ProfileIllovo Sugar Limited is a South African-based enterprise and Africa’s largest producer of raw sugar and sugar brands produced from sugar cane grown by its own agricultural operations and independent growers. It operates in six African countries and exports products to sub-Saharan Africa, the European Union and the United States. Illovo Sugar Malawi is based in Limbe in the Blantyre District. Illovo Sugar Limited operates in four segments; cane growing, sugar production, downstream and co-generation products. The Cane Growing division grows sugar cane which is used in the production of sugar productions. The Sugar Production division manufactures and markets Illovo Sugar brands. The Downstream and Co-generation division manufactures and markets brands that are by-products of the production process, including furfural and alcohol. Illovo Sugar Limited also supplies surplus electricity generated in the sugar production process. Illovo Sugar Limited is a subsidiary of Associated British Foods plc. Illovo Sugar Limited is listed on the Malawi Stock Exchangelast_img read more

Paula Clark elected 13th bishop of Chicago

first_imgPaula Clark elected 13th bishop of Chicago Priest Associate or Director of Adult Ministries Greenville, SC Join the Episcopal Diocese of Texas in Celebrating the Pauli Murray Feast Online Worship Service June 27 Press Release Service Priest-in-Charge Lebanon, OH Remember Holy Land Christians on Jerusalem Sunday, June 20 American Friends of the Episcopal Diocese of Jerusalem Assistant/Associate Priest Scottsdale, AZ Submit an Event Listing An Evening with Presiding Bishop Curry and Iconographer Kelly Latimore Episcopal Migration Ministries via Zoom June 23 @ 6 p.m. ET Rector/Priest in Charge (PT) Lisbon, ME Rector Pittsburgh, PA Canon for Family Ministry Jackson, MS Featured Events Rector Tampa, FL Featured Jobs & Calls Director of Music Morristown, NJ Tags Rector Shreveport, LA Rector Hopkinsville, KY Bishop Diocesan Springfield, IL Rector (FT or PT) Indian River, MI The Church Investment Group Commends the Taskforce on the Theology of Money on its report, The Theology of Money and Investing as Doing Theology Church Investment Group The Church Pension Fund Invests $20 Million in Impact Investment Fund Designed to Preserve Workforce Housing Communities Nationwide Church Pension Group Rector and Chaplain Eugene, OR Episcopal Charities of the Diocese of New York Hires Reverend Kevin W. VanHook, II as Executive Director Episcopal Charities of the Diocese of New York Youth Minister Lorton, VA Rector Martinsville, VA Missioner for Disaster Resilience Sacramento, CA Family Ministry Coordinator Baton Rouge, LA Cathedral Dean Boise, ID This Summer’s Anti-Racism Training Online Course (Diocese of New Jersey) June 18-July 16 Rector Washington, DC Assistant/Associate Rector Morristown, NJ Seminary of the Southwest announces appointment of two new full time faculty members Seminary of the Southwest Submit a Job Listing Episcopal Migration Ministries’ Virtual Prayer Vigil for World Refugee Day Facebook Live Prayer Vigil June 20 @ 7 p.m. ET Posted Dec 14, 2020 Director of Administration & Finance Atlanta, GA Bishop Elections TryTank Experimental Lab and York St. John University of England Launch Survey to Study the Impact of Covid-19 on the Episcopal Church TryTank Experimental Lab Assistant/Associate Rector Washington, DC Associate Rector Columbus, GA Rector Belleville, IL Associate Rector for Family Ministries Anchorage, AK Associate Priest for Pastoral Care New York, NY Rector Knoxville, TN Course Director Jerusalem, Israel Virtual Celebration of the Jerusalem Princess Basma Center Zoom Conversation June 19 @ 12 p.m. ET Rector Smithfield, NC In-person Retreat: Thanksgiving Trinity Retreat Center (West Cornwall, CT) Nov. 24-28 The Rev. Paula Clark. Photo courtesy Diocese of Chicago[Diocese of Chicago] The Rev. Paula E. Clark was elected on Dec. 12 to be the thirteenth bishop of the Diocese of Chicago. She will be the first Black person and the first woman to hold the position.Clark, who currently serves as canon to the ordinary and chief of staff in the Diocese of Washington, was chosen unanimously on the fourth ballot in an election conducted on Zoom from a slate originally composed of four candidates. She received 229 clergy votes and 284 lay votes.“We Episcopalians are strong people who can model for the rest of this country and the world what it looks like to walk the way of love,” Clark told the convention over Zoom. “God is calling us to a new day and a new way of being.”Clark was baptized into The Episcopal Church at age 10 by Bishop John Walker, the first Black dean of Washington National Cathedral and first Black bishop of the Diocese of Washington. She received her undergraduate education at Brown University and earned a Master of Public Policy degree from the University of California, Berkeley.Before entering the seminary, Clark served as public information officer for the District of Columbia mayor’s office and Board of Parole for nine years and spent five years as director of human resources and administration for an engineering and consulting firm in Washington.In 2004, she received a Master of Divinity degree from Virginia Theological Seminary in Alexandria, Virginia, and served at St. Patrick’s Episcopal Church in Washington and St. John’s Episcopal Church in Beltsville, Maryland, before joining the staff of Bishop Mariann Edgar Budde. Her work for the diocese focused initially on clergy development and multicultural and justice issues.The bishop-elect is married to Andrew McLean and describes herself as “the proud matriarch of our blended family of five adult children and seven grandchildren.”Clark, who is scheduled to be consecrated on April 24, will succeed Bishop Jeffrey D. Lee, who is retiring on Dec. 31 as bishop of a diocese that includes 122 congregations and more than 31,000 members in northern, central and southwestern Illinois. Under the canons of The Episcopal Church, the diocese’s standing committee will serve as its ecclesiastical authority during the interim.The other nominees were:The Rev. Edwin Daniel Johnson, rector, St. Mary’s Episcopal Church, Boston, MassachusettsThe Rev. Fulton L. Porter III, rector, St. Thomas Episcopal Church, ChicagoThe Rev. Winnie Varghese, priest for ministry and program coordination, Trinity Church Wall Street, New York, New York Rector Bath, NC Curate (Associate & Priest-in-Charge) Traverse City, MI Inaugural Diocesan Feast Day Celebrating Juneteenth San Francisco, CA (and livestream) June 19 @ 2 p.m. PT Curate Diocese of Nebraska Rector Albany, NY AddThis Sharing ButtonsShare to PrintFriendlyPrintFriendlyShare to FacebookFacebookShare to TwitterTwitterShare to EmailEmailShare to MoreAddThis Submit a Press Release New Berrigan Book With Episcopal Roots Cascade Books Ya no son extranjeros: Un diálogo acerca de inmigración Una conversación de Zoom June 22 @ 7 p.m. ET Rector Collierville, TNlast_img read more

Breaking: Brummer confirms run for County Commission

first_img The Anatomy of Fear Running for Orange County Commission District #2 SeatFred Brummer, a former State Representative in the Florida Legislature and Orange County Commissioner confirmed today that he is entering the race for the Orange County Commission District 2 seat in 2018. Brumer served on the commission for eight years starting in 2006 but did not run in 2014 due to term limitations. Orange County Commissioner Bryan Nelson succeeded Brummer in 2014. However, with Nelson running for Apopka Mayor, Brummer decided to throw his hat in the ring for his old seat.Fred Brummer “I think Bryan did a great job,” Brummer said. “But there is still a lot of work to do. There are issues in Pine Hills that need to be addressed. There is development in Northwest Orange County. There is an opioid crisis in Orange County that I think my experience can help with. It’s an honor to serve, and I think I did a good job for Orange County.”Brummer has been a Florida resident since 1957. He graduated with a Bachelor of Science in Business Administration and Masters of Business Administration from Florida Atlantic University. In 1976, and earned a qualification as a Certified Public Accountant. Brumer is President of Brummer & Rogers, P.A., C.P.A.s, and has practiced accounting in Apopka since 1981. Before his two terms as County Commissioner, Brummer served as the State Representative from District 38 from 1998-2006. He and his wife Cathi have been married since 1972. The District #2 seat includes most of Apopka. Mama Mia January 14, 2020 at 11:21 am Reply 2 COMMENTS June 9, 2017 at 10:25 am Free webinar for job seekers on best interview answers, hosted by Goodwill June 11 Please enter your name here […] think Bryan did a great job,” Brummer told the Apopka Voice (story HERE) “But there is still a lot of work to do. There are issues in Pine Hills that need to be […] Share on Facebook Tweet on Twittercenter_img Daddy Brummer is running again? “Lordy”…..LOL! Support conservation and fish with NEW Florida specialty license plate Please enter your comment! Reply Save my name, email, and website in this browser for the next time I comment. Fred Brummer files to return to Orange County Commission in District 2 | Orlando Political Observer (Orlando Politics) TAGSFred BrummerOrange County Commission Seat #2 Previous articleCity Council votes to extend medical cannabis moratoriumNext articleJoin APD at Coffee with a Cop tomorrow Denise Connell RELATED ARTICLESMORE FROM AUTHOR You have entered an incorrect email address! Please enter your email address here LEAVE A REPLY Cancel replylast_img read more

One more week to ask Government to improve access to subsidised capital through SITR

first_img Tagged with: Finance investment Melanie May | 11 July 2019 | News One more week to ask Government to improve access to subsidised capital through SITR  176 total views,  2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis4center_img About Melanie May Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via  177 total views,  3 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis4 The Government’s call for evidence on Social Investment Tax Relief (SITR) closes a week from today, with Big Society Capital urging charities to have their say before the deadline.SITR is the Government’s tax relief for social investment, introduced to encourage individuals to invest into social enterprises, charities and community businesses by offsetting the risk to investors. It can be used by social enterprises and charities to raise investment from individual investors with a window of at least three years before repayments start. It also offers subsidised investment returns, created by offering investors a 30% tax break on their investments which off-set the risk of investing.The Government has published a Call for Evidence on Social Investment Tax Relief, which is due to close on 17 July 2019. The aim of the call for evidence is to help the government understand how the tax relief has been used since its introduction in 2014, including levels of take up and the impact it has had on social enterprises’ access to finance. It has a sunset clause that will bring the scheme to an end in April 2021, and the government has issued call for evidence to help inform a decision about its future.Melanie Mills, Senior Director of Social Sector Engagement at Big Society Capital, commented:“SITR is significant in terms of reach and opportunity: both for businesses delivering a social impact and investors who want to do good with their money. This consultation is the best chance social enterprises and charities currently have to voice their opinion to the Government about the need to improve their ability to access patient, affordable capital. Big Society Capital will also be responding, and laying out what we believe to be the most important changes that must be made to SITR to make it work for social enterprises and charities trying to access social investment.“We would encourage all social enterprises and charities to respond to the consultation. We know that many simply don’t have enough time available, and so we have provided a template response form to the consultation which can be found on our website.”The poll can be found here and respondents will then be signposted to the relevant template response. Advertisementlast_img read more

Say their names! Recy Taylor and Erica Garner

first_imgAt vigil for Erica Garner and Recy Taylor, Pensacola, Fla., Dec. 30.Say her name: Mrs. Recy Taylor. Born Dec. 31, 1919, and died Dec. 28, 2017.Say her name: Erica Garner. Born May 29, 1990, and died Dec. 30, 2017.The last week of 2017 we have lost two Black women. Both experienced the plight of being denied justice while being Black in America.Mrs. Recy TaylorShe was a revolutionary woman way before the #Me Too movement of today. During the Jim Crow period, on Sept. 3, 1944, in Alabama, Mrs. Taylor was kidnapped, blindfolded, raped and brutally beaten by six white boys, all the while pleading for her life.A Dec. 20 Democracy Now interview with Nancy Buirski, director of the film, “The Rape of Recy Taylor,” noted that she was left on the side of the road, later to be found by her father.Then Recy Taylor said “Enough!” and bravely named and identified her attackers. Eleven years before the bus boycott in Alabama, Rosa Parks interviewed Recy Taylor for the NAACP as its chief rape investigator at the time. An Alabama Committee for Equal Justice for Mrs. Recy Taylor was launched, marking the first national campaign against the white supremacist rape of a woman of color.In a Dec. 28 tribute to Taylor in The Root, Monique Judge said: “The racially motivated rape of Black women by white men was as prominent during ‘Jim Crow’ as the lynching of Black men was, but it is a topic that is not as discussed. Sexual violence against Black women often goes overlooked.”Even though Recy Taylor immediately spoke up and named her perpetrators, even though there was a confession from one of the perpetrators, a grand jury denied justice for her, twice.Somehow, through all of this, Black women are still “to blame” and are asked questions filled with contempt, such as “Why did you take so long to tell?”But Recy Taylor was only granted an apology by the Alabama Legislature in 2011, a full 67 years after her attack.Sexual assault by white men against Black women is white supremacy.Erica Garner She was the daughter of Eric Garner, who was killed by police in Staten Island, N.Y., on July 17, 2014. Eric Garner was murdered by NYPD Officer Daniel Pantaleo using an illegal chokehold. It was all caught on video, even Garner’s last words: “I can’t breath.” It is now three years and five months since Eric Garner was murdered, and there is still no justice.Ms. Garner suffered an asthma attack, which triggered a heart attack, which led to brain damage. Erica Garner was pronounced brain dead five days after the heart attack, and two days later she succumbed to death.But her death was also the slow death due to systematic racial disparities in the health and justice systems.Living in a low-income neighborhood is genocide. Blacks and Latinxs make up the majority of people affected by pollution, and they also make up the majority of people in low-income neighborhoods. A 2014 study found that members of racial and ethnic minorities are exposed to levels of nitrogen dioxide, a common pollutant associated with asthma and heart disease, that is 38 percent higher than in the air most white people breathe. ( racial divide in the U.S. is that elemental: Blacks and whites actually breathe different air.Black people are continually denied justice, even when the evidence is blatant, such as the video that recorded Eric Garner being murdered.The death of Erica Garner’s father played a big factor in the death of Erica Garner herself. Living day by day, knowing that your father didn’t receive the justice that he deserved and walking the same streets with the officer who murdered your father are the slow death that Erica Garner went through.Ms. Garner leaves behind two children: Alyssa and Eric. Her last wish was that you support foster children in some way, as she was in foster care during her life.The system is stacked against us. Life is a race that we have yet to master because the system works exactly as it is intended to. Mrs. Taylor spoke up and wasn’t heard. Ms. Garner spoke up for her father and was denied justice.Justice isn’t blind at all. The system sees you, but does not count you in because of your Blackness and poorness.However, this will not last forever because we are the revolution. The actions you take today to support Black women, who have been the truth-tellers for eons, will build a new foundation. A foundation that will be free of white supremacy.Protect Black women. Hear Black women. Honor Black women. Fight for Black women. Uplift Black women.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

Blanket Coverage Podcast – Episode 112 (Week 16 Recap, Week 17 Preview, NBA Christmas Recap)

first_img2021 NFL Mock Draft (Part 1) Special Jack Wallace Jack Wallace ReddIt 2020/21 NFL Exit Interviews – NFC East Jack Wallace Twitter Jack is a junior journalism major and studio art minor from Atlanta, Georgia. He enjoys everything sports and co-runs the Blanket Coverage podcast as well as photographs for TCU360. Previous articleSamuel’s strong day goes to waste as men’s basketball outmatched by XavierNext articleWomen’s Basketball upsets #25 Texas, 65-63 Jack Wallace RELATED ARTICLESMORE FROM AUTHOR 2021 NFL Mock Draft (Part 1) Special Fort Worth’s first community fridge program helps serve vulnerable neighborhoods Jack Wallace 2020/21 NFL Exit Interviews – NFC West Twitter Facebook ReddIt 2020/21 NFL Exit Interviews – NFC West Facebook Jack Wallace Linkedin TCU News Now 4/28/2021 Linkedin printJack and Noah discuss the penultimate week of regular-season NFL, look forward to the upcoming final week, and take a look at NBA Christmas Day games. Tune in next week as we dive into NFL playoffs and start to break down some college bowl games! + posts TAGSball don’t lieblanket coveragecbbcfbnbaNFL last_img read more

Italian journalist in Paris would be jailed for press crimes if he returns home

first_img to go further November 25, 2002 – Updated on January 20, 2016 Italian journalist in Paris would be jailed for press crimes if he returns home Organisation Reporters Without Borders today protested against a sentence of two and a half years in prison for libel imposed by a Naples court on journalist Raffaele Jannuzzi. On 20 November, the judicial authorities refused to grant the 74-year-old journalist “semi-liberty” or convert his prison sentence to one of confinement to residence.”Sentencing journalists to prison terms for press crimes is contrary to United Nations standards and is unworthy of a democracy,” Reporters Without Borders secretary-general Robert Ménard said in a letter to justice minister Roberto Castelli, calling for an urgent reform of Italian law on press crimes. “Prison sentences must be abolished in accordance with the recommendations of the United Nations human rights committee and the special rapporteur on the promotion and protectionof the right to freedom of opinion and expression”, Ménard said.Jannuzi has been a senator for the Forza Italia party since May 2001 but his parliamentary immunity does not protect him in this case, in which he has been convicted as editor of the daily newspaper Il Giornale di Napoli for articles published between 1987 and 1993, in particular, articles criticising judicial officials in charge of combatting the mafia. Jannuzzi himself wrote many investigative pieces on the mafia and defended television presenter Enzo Tortora, convicted in 1983 of colluding with the mafia on the basis of the statements of mafia members cooperating with the authorities.Jannuzzi is currently in Paris to attend a session of the Council of Europe and would be imprisoned on his return to Italy. He told Reporters Without Borders that he intends to remain in Paris until the end of the council’s parliamentary work on 16 December. Thereafter, he said he would return to Italy when the Italian authorities recognize the immunity he enjoys as a member of the parliamentary assembly of the Council of Europe and the Western European Union.Another Italian journalist, Stefano Surace, was arrested and jailed in Italy on 24 December 2001, without being retried, for old press crimes dating back more than 30 years. In the 1960s, when he edited the nonconformist newspaper Le Ore and was well known for his reports on prison conditions, Surace was convicted in absentia and sentenced to more than two years imprisonment for “libel” and “obscene publications.” After being allowed to serve his sentence in the form of confinement to residence, Surace skipped the country and returned to live in France, where he has resided for the part 25 years. RSF_en ItalyEurope – Central Asia November 19, 2020 Find out more On eve of the G20 Riyadh summit, RSF calls for public support to secure the release of jailed journalists in Saudi Arabia Help by sharing this information Ten RSF recommendations for the European Union Follow the news on Italycenter_img News November 23, 2020 Find out more ItalyEurope – Central Asia News RSF and 60 other organisations call for an EU anti-SLAPP directive News News Receive email alerts December 2, 2020 Find out morelast_img read more

Health Officials Reiterate Importance of Flu Vaccination Amid Pandemic

first_imgHerbeauty6 Lies You Should Stop Telling Yourself Right NowHerbeautyHerbeautyHerbeautyYou’ll Want To Get Married Twice Or Even More Just To Put Them OnHerbeautyHerbeautyHerbeauty6 Lies You Should Stop Telling Yourself Right NowHerbeautyHerbeautyHerbeautyNerdy Movie Kids Who Look Unrecognizable TodayHerbeautyHerbeautyHerbeauty11 Signs Your Perfectionism Has Gotten Out Of ControlHerbeautyHerbeautyHerbeautyInstall These Measures To Keep Your Household Safe From Covid19HerbeautyHerbeauty Business News More Cool Stuff Community News 23 recommended0 commentsShareShareTweetSharePin it Name (required)  Mail (required) (not be published)  Website  Your email address will not be published. Required fields are marked * With flu season blowing into California, public health officials on Thursday renewed their call for Los Angeles County residents to get influenza shots and continue to adhere to social distancing protocols that they say will help them stem the spread of both viruses.Pasadena recorded four new COVID-19 infections on Thursday and no new fatalities, according to city data. Since the onset of the pandemic, a total of 2,664 infections and 129 fatalities have been documented in the city.Huntington Hospital reported treating 24 COVID-19 patients.At the county level, 1,233 new cases of COVID-19 and 24 new deaths were announced, raising the county-wide totals to 286,183 infections and 6,834 deaths, according to the L.A. County Department of Public Health.But as officials continued focusing on containing the COVID-19 virus, they also turned their attention Thursday to influenza.Both Pasadena and county public health officials have cautioned of the potential danger of co-infection with both viruses, as well as concerns that surges in both at the same time could overwhelm the healthcare system.But at the same time, L.A. County Director of Public Health Barbara Ferrer said the very same tactics used to fight COVID-19 also help keep the flu from spreading.“The steps we are all taking to prevent transmission of COVID-19 also help prevent transmission of influenza. As we’ve seen from countries in the southern hemisphere who have already had their flu season, these actions have been effective in slowing the spread of both viruses, and many have seen fairly mild flu seasons,” according to Ferrer.“While we very much hope for the same here in L.A. County and across the United States, we will continue working diligently with our partners to prevent infection and to reduce transmission of the two viruses,” she said. “We all have tools that work to limit the spread of COVID-19 and flu: wearing face coverings and keeping physical distance of at least 6 feet whenever you are out of your home and around others; frequent handwashing and; avoiding large crowds. For flu, we have the additional tool of a safe and effective vaccine. With everyone doing their part, we reduce illness and we save lives.”County health officials added that since both COVID-19 and the flu can present similar symptoms, testing is the only way to determine which virus might be causing someone to fall ill.Just over 720 patients were hospitalized with COVID-19 throughout the county on Thursday, officials said. Twenty-seven percent of them were being treated in intensive care units.The California Department of Public Health announced 3,329 new cases of COVID-19 and 118 additional fatalities.Since the onset of the pandemic, the state had recorded 858,401 infections and 16,757 deaths in total, the CDPH said in a written statement.The state’s average positivity rate over the prior seven- and 14-day periods were both 2.6%.As of Thursday, Los Angeles County accounted for 33% of California’s total COVID-19 cases and 41% of the state’s fatalities. faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Donald CommunityPCC- COMMUNITYVirtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyPasadena Public WorksPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Community News Health Officials Reiterate Importance of Flu Vaccination Amid Pandemic 4 New COVID-19 Infections Reported in Pasadena; 1,233 Cases Reported County-Wide By BRIAN DAY Published on Thursday, October 15, 2020 | 5:40 pm Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m.center_img Top of the News Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena STAFF REPORT Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Subscribe Community News CITY NEWS SERVICE/STAFF REPORT Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Make a comment EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS STAFF REPORT First Heatwave Expected Next Week last_img read more


first_img WhatsApp Rattler Midstream: 4Q Earnings Snapshot Pinterest Home Local News Business DAILY OIL PRICE: Jan. 24 Pinterest Congressman Mike Conaway talks to the Odessa American on Jan. 7, 2018. Ashford Hospitality Trust: 4Q Earnings Snapshot Local NewsBusiness DAILY OIL PRICE: Jan. 24 Twitter Facebookcenter_img Facebook Virgin Coco MojitoSummer Spaghetti SaladCreamy Fruit SaladPowered By 10 Sec Mama’s Deviled Eggs NextStay Octopus Energy U.S. to Discount Customers’ Bills by as Much as 90% Previous articleFive things you need to know today, Jan. 24Next articleOPD: Teen ‘feared for her life’ during robbery admin RELATED ARTICLESMORE FROM AUTHOR Crude Oil: 65.61 (+1.14)Nymex MTD AVG: 63.0588.Natural Gas: 3.509 (+.065).Gasoline: 1.9164 (+0.0077).Spreads: March/Apr. (+.25) Apr./May (+.33).Plains WTI Posting: 62.00 (+1.00). By admin – January 24, 2018 Twitter WhatsApplast_img read more

Employment and New Construction Drag on Growing Housing Market

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Employment and New Construction Drag on Growing Housing Market The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Recovery in the housing market is stumbling back to solid ground, thanks to a rise in home prices and existing home sales, as well as a drop in foreclosures, according to the latest Housing Barometer report released Wednesday by Trulia.However, growth in these sectors is dragging disproportionally weaker growth in young adult employment and stagnation in the new home construction sector in its wake, and worsening conditions for borrowers and investors keeps the road to overall recovery bumpy.The strongest growth is in the value of homes being sold, according to Trulia’s chief economist, Jed Kolko. Though homes nationally were—by Trulia’s measure—5 percent undervalued in the first quarter of 2014, this is a vaulting improvement over the 15 percent undervaluation at the bust’s 2011 low point and the 10 percent undervaluation just a year ago.Similarly encouraging is the fact that rising home prices and an improving economy are shrinking delinquency and foreclosure rates. According to Kolko, the delinquency/foreclosure rate was 63 percent back to normal in February, up from 42 percent one year earlier. More foreclosures are also being completed and sold, particularly in Florida, New York and New Jersey, where a judicial-foreclosure process can take years.Holding up total recovery, however, is the steady-but-agonizingly-slow growth of employment among adults age 25 to 34, who are key to creating new households. Nearly 76 percent of these adults work, which is up not even one full percentage point from last year, Trulia reported.Similar stagnation plagues the new construction sector, which Trulia found to be only 44 percent of the way to where it should be—a 1 percentage point drop from last year.Further complicating recovery is a tri-level worsening of conditions for buyers and investors. First, though it remains cheaper to buy a home than to rent in the 100 largest metros, rising home prices mean declining affordability and, thus, a bigger challenge for first-time buyers.Second, investors looking to flip or rent properties are stepping back as home prices rise, meaning fewer existing homes are being sold.Third, potential buyers are leery of rising mortgage rates and the new rules that accompany them, and mortgage purchase applications and mortgage-based home sales are declining as a result.Kolko, however, expects this last factor may be a temporary hurdle. “Rates remain low by historical standards, and the new mortgage rules offer longer-term clarity that should encourage banks to make more loans that are within the new rules,” he said.Overall, Kolko puts the keys to recovery in the hands of the young. “The boost to young-adult employment is especially important right now,” he said. “The less the recovery can depend on the engine of investors, the more the housing market will need to rely on young adults entering the housing market, first as renters and eventually as buyers.” Scott Morgan is a multi-award-winning journalist and editor based out of Texas. During his 11 years as a newspaper journalist, he wrote more than 4,000 published pieces. He’s been recognized for his work since 2001, and his creative writing continues to win acclaim from readers and fellow writers alike. He is also a creative writing teacher and the author of several books, from short fiction to written works about writing. Subscribe Previous: Job Growth Ramps Back Up in California Next: PEMCO Limited Announces Leadership Award Winner March 27, 2014 1,166 Views Related Articles Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Tagged with: Foreclosure Home Construction Home Sale Home Values Trulia Unemployment Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago About Author: Scott Morgan Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Headlines, Market Studies, News Foreclosure Home Construction Home Sale Home Values Trulia Unemployment 2014-03-27 Scott Morgan The Best Markets For Residential Property Investors 2 days ago Share Save Home / Daily Dose / Employment and New Construction Drag on Growing Housing Marketlast_img read more