Wednesday, July 23, 2008

According to Fox News report, Congress is considering the Considers Second Economic Stimulus Package.

WASHINGTON — Congress is considering a second economic stimulus package that could include $15 billion in infrastructure spending, a senior member of the House told Reuters on Tuesday.

Rep. James Oberstar, a Minnesota Democrat who chairs the Transportation and Infrastructure Committee, said a stimulus package could include "accelerating" payouts of $9.5 billion from the federal trust fund assigned to road construction and maintenance.

"You can have 700,000 people working in three months. We should have done it this spring," Oberstar told Reuters in an interview.

If approved, the funding would go to more than 2,600 projects, he said. States would receive full federal funding and then have a few years to pay back any matching funds.

Oberstar gave a list of spending possibilities to House Speaker Nancy Pelosi last week, who "likes the idea."

Democrats are considering supporting another economic stimulus measure to revive the economy after Congress approved a $152 billion measure in February, which taxpayers received in the form of checks during the spring and early summer.

The timing of a second stimulus bill remains up in the air.

President Bush has said he wants to see how effective the first stimulus package is before lending his support to another one.

Thursday, July 3, 2008

PMI Ranked 14 Markets With Nowhere to Go but Up

A report from PMI Summer 2008 Risk Index Indicates Risk Intensifying in Areas With Previous Rapid Home Price Growth.

Housing Affordability Continues to Improve

WALNUT CREEK, Calif., July 1

-- PMI Mortgage Insurance Co., the primary U.S. subsidiary of The PMI Group, Inc. (NYSE: PMI), today released its Summer 2008 U.S. Market Risk Index(SM), which ranks the nation's 50 largest metropolitan statistical areas (MSAs) according to the likelihood that home prices will be lower in two years. The U.S. Market Risk Index shows risk further diverged along two distinctly different paths during the first quarter of 2008, continuing a trend that began in the fourth quarter of 2007. In general, risk continued to intensify in many of the MSAs where home price growth had significantly exceeded historical norms during the housing boom, but continued to decline in many other areas across the country.

A complete copy of the Summer 2008 PMI ERET report and an appendix that provides data for all 381 U.S. MSAs is available at:

The 14 Markets with less than 1% risk:

5 Milwaukee-Waukesha-West Allis; WI <1
5 Cleveland-Elyria-Mentor; OH <1
5 Austin-Round Rock; TX <1
5 Denver-Aurora; CO <1
5 Charlotte-Gastonia-Concord; NC-SC <1
5 Kansas City; MO-KS <1
5 Columbus; OH <1
5 Cincinnati-Middletown; OH-KY-IN <1
5 Indianapolis-Carmel; IN <1
5 San Antonio; TX <1
5 Houston-Sugar Land-Baytown; TX <1
5 Pittsburgh; PA <1
5 Dallas-Plano-Irving; TX <1
5 Fort Worth-Arlington; TX <1

Source: PMI Mortgage Insurance Co. (07/01/2008)