The Meyers Report
by Gary S. Meyers and Robert Genetski, Ph.D.
5/13/2013- Excerpt from May 13, 2013, newsletter: SBA and the 4 Cs With many commercial loans of all types coming due this year and next, having access to refinance SBA programs will be critical. If borrowers want to get real estate loans in this market, borrowers need to pay attention, have patience and be realistic…
THE MEYERS REPORT Economic Notes Although there are only second tier economic numbers due this week, several have the potential to affect financial markets…
Commercial Lending Rates Since last week, interest rates for government lending programs has held…
5/6/2013- Excerpt from May 6, 2013, newsletter: Our Bi-Polar Economy For every piece of news showing the economy is doing well, there is another piece revealing problems…
THE MEYERS REPORT Economic Notes
Major Non-Bubble Housing Markets.
Consumer confidence…
Commercial Real Estate Loans
4/29/2013- Excerpt from April 29, 2013, newsletter: Oil Plays Well for US This week we look at the oil rig count throughout the world, because oil rigs are used for finding and developing oil plays. They indicate the future of production…
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Truck Shipments
Truck freight activity has been rising for the past two months…
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Housing
Since bottoming in January, the supply of new and existing homes has climbed for two successive months…
THE MEYERS REPORT Economic Notes The economic news last week was more encouraging than in previous weeks…
4/22/2013- Excerpt from April 22, 2013, newsletter: Mortgages, Housing, Future Mortgage Delinquencies There is good news in the delinquency rate of the nation’s home loans. The challenge is for the economy to keep from weakening…
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Housing There is growing anecdotal evidence that more homes are being purchased with cash than ever before and that the number of mortgages is shrinking…
THE MEYERS REPORT Economic Notes
Commercial Real Estate Lending
HUD program rates have stabilized for the past three weeks, after several weeks of increases…
4/15/2013 – Excerpt from April 15, 2013: NLRB Filing Deadline As a consequence, of the decision in Noel Canning, the NLRB may not have jurisdiction to hear any cases…
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Commercial Lending The Fed’s attempt to boost the economy by holding down interest rates has not been successful, in part because…
THE MEYERS REPORT Economic Notes
Change in China We got an email from a reader who currently is in China on business. He shared these observations with us…
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Housing Running Into Softness April was the third straight month of declining attitudes for the nation’s homebuilders, according to the NAHB/Wells Fargo Market Housing Index…
4/8/2013 – Excerpt from April 8, 2013: More Oil Coming From Bakken North Dakota and the Bakken Field (shale oil) production has hit an all-time high, according to the US Energy Information Administration.
THE MEYERS REPORT Economic Notes
Commercial Real Estate Loan Trends At 4.07%, interest rates for SBA 504 (real estate-based) loans are still very low. However, they have been rising…
4/1/2013 – Excerpt from April 1, 2013: Housing Recovery Under Stress There are several warning signs of pending market difficulty…
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The Economy & Commercial Real Estate Loans Rate moves were mixed last week. The agency loans with terms of 10- and 30-years saw slight…
THE MEYERS REPORT Economic Notes
US Home Mortgages By State Serious mortgage delinquencies (90+ days) still plagues the US housing market, as does negative equity in the housing stock…
3/25/2013 – Excerpt from March 25, 2013: Genetski’s Initial Reaction To Cyprus Solution The implicit guarantee of country debt brought about the European banking crisis in the same way the implicit guarantee of Fannie and Freddie preferred stock brought about the US financial crisis.
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Commercial Real Estate Loans Rates fell slightly this week, on average by 0.02% to 0.04%.
THE MEYERS REPORT Economic Notes
Car and Truck Fuel Prices. Regulations and resistance to the building the refineries and pipelines that the nation needs have delayed…
3/18/2013 – Excerpt from March 18, 2013: More on SBA Loans In a tough lending environment, the SBA does in fact encourage banks to make loans when they otherwise are afraid to or cannot for some reason, such as tight bank capital.
THE MEYERS REPORT Economic Notes
The best 10 franchises that use SBA loan guarantees.
3/11/2013 – Excerpt from March 11, 2013: SBA Loan Changes Once upon a time, if a business was paying it’s debt service as agreed, it could count on the loan being renewed when it came due, but…
THE MEYERS REPORT Economic Notes
SBA Change For The Better The CDC’s Board of Directors will be held more accountable and has shifted responsibilities…
3/4/2013- Excerpt from March 4, 2013, newsletter: NLRB: What’s Next is the Question This past week, the entire National Labor Relations Board met with top labor lawyers from the across the nation, to answer questions about what comes next after…
Rare Earths While we develop new innovative technologies that change the world, we also allow our competitors, particularly the Chinese…
THE MEYERS REPORT Economic Notes
Housing: Buyers or Sellers Market? While reports abound of year-over-year home prices rising, recent trends are …
2/25/2013- Excerpt from February 25, 2013, newsletter: Genetski On Stocks Readers have asked for Dr. Genetski’s and The Meyers Report views on the current state of the stock market in light of both the issues surrounding sequestration and the debt ceiling.
THE MEYERS REPORT Economic Notes
Voting: Don’t Do It Maryland Reducing the security of the vote in no way protects voters and democracy…
2/18/2013- Excerpt from February 18, 2013, newsletter: Q & A — You Ask, We Answer
Interest rate and Dollar v. Yuan questions answered.
THE MEYERS REPORT Economic Notes
Excessive Taxation and Regulation Hurt Economy Whether on international or state levels, higher taxes, more expensive social safety nets and stiffer regulations…
2/11/2013 - Excerpt from February 11, 2013, newsletter: New Regulations For Mortgage Servicing
On January 17, 2013, the Consumer Finance Protection Bureau released a final Rule, which is impacting the servicing of consumer home mortgages, that are supposed to protect consumers…
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German Wind Creating Stink
German efforts to create wind power is creating a stink by raising electric costs 20-30%, according to…
THE MEYERS REPORT Economic Notes
Monetary policy remains steeped in contradiction and confusion. The Fed is involved in its third attempt…”
2/4/2013 - Excerpt from February 4, 2013, newsletter: NLRB Ruling, Landmark Case?
On Friday, Jan. 25, 2013, the D.C. Federal Court ruled against the President’s recess appointments to the National Labor Relations Board. This ruling also could transform into a constitutional landmark case impacting separation of powers between the branches of government…
THE MEYERS REPORT Economic Notes
GDP Numbers Skewed. The markets shrugged off reports of a sharp drop in consumer confidence…
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For the first time in China’s history, a major company is holding true elections…
1/28/2013 – Excerpt from January 28, 2013, newsletter: Negative Equity Drags Market
Amid talk of a housing recovery, the latest figures show that 22% of all homes with a mortgage are underwater…
THE MEYERS REPORT Economic Notes
2013 Economic Forecasts (continued from January 14, 2013 newsletter)
1/21/2013 – Excerpt from January 21, 2013, newsletter: Legal, Stupid and Immoral
“Personally, I am upset at what the paper did. It was a cruel publicity stunt…”
It’s Not About Hunting… from two interviews: One is with an active duty Chicago Police Officer and the other is with a retired Chicago Police Commander.
Newtown Disaster… from a First Responder who was there.
1/14/2013 – Excerpt from January 14, 2013, newsletter : 2013 Economic Forecasts
This year will be tumultuous legislatively and economically. From governmental and fiscal chaos to rapid advances in the energy and petrochemical sectors, …
THE MEYERS REPORT Economic Notes
Forecasts for 2012 Reviewed This is a continuation of last week’s issue reviewing our 2012 forecasts for the category of government policy as stated in the January 9, 2012, edition.
1/7/2013 – Excerpt from January 7, 2013, newsletter: Forecasts for 2012 Reviewed
Our January 9, 2012, edition had more than 40 forecasts for the 2012. While some things forecast still wait for final numbers, here’s how we did on others.
12/26/2012 – Excerpt from December 26, 2012, newsletter: Our Hero, Leszek Balcerowicz
Leszek Balcerowizc is not as well known as Michael Jordan, or even Yogi Berra. But his impact is lasting longer than either sports legends…
THE MEYERS REPORT Economic Notes
New Home Purchases On a year-over-year basis, 2012…
Where The Nation’s Largest State GDPs Stand
12/17/2012 - Excerpt from December 17, 2012, newsletter: The Promised Land?
In 2000, only 1% of our natural gas came from shale; today it is 30%, and the price is cheap and getting cheaper…
THE MEYERS REPORT Economic Notes
Ear to the Ground Forecast Market conditions suggest 2013 will not be happy for Bank…
FED Doubling Down On Lower Interest Rates On Friday, the Fed released some significant money numbers…
12/10/2012 – Excerpt from December 10, 2012, newsletter: The Other US Economic Boom
… the value of US farm land has been rising while land for commercial and residential development has fallen since the housing bubble…
THE MEYERS REPORT Economic Notes
Farm Real Estate, Average Value per Acre – Region and United States: 2008-2012
12/3/2012 – Excerpt from December 3, 2012, newsletter: Shortage of Employees?
Not being able to find qualified people in a slow economy is a major problem for US industry, and it is going to get worse, according to…
THE MEYERS REPORT Economic Notes: Number Major Banks of Country and World’s Largest Banks
11/26/2012 – Excerpt from November 26, 2012, newsletter: Technology Driving Oil Boom On Several Roads
When it comes to the US oil and gas boom, new discoveries are the first thoughts, even when we are talking technology. However…
THE MEYERS REPORT Economic Notes
Mortgage Delinquencies Florida still leads the nation in mortgage delinquencies…
FHA Declining In Importance In Home Mortgages As conventional lending sources shrank during the current housing depression, the public had become more dependent upon getting mortgages from the FHA…
11/19/2012 – Excerpt from November 19, 2012, newsletter: Dr. Genetski’s Take On It
“After listening to the President’s press conference it appears to me he wants…”
THE MEYERS REPORT Economic Notes
The Markets Are Voting In addition to the popular vote and the Electoral College, the markets posted their own views…
Creative Compliance and Legal Defiance thoughts from David Schwalb, Esq. “While we should be realistic that legal maneuvers will not stop all regulations from being ultimately implemented, any delays of burdensome regulations…”
11/12/2012 – Excerpt from November 12, 2012, newsletter: Next Four Years
While the election has resolved some uncertainty surrounding future policies, much still remains. Tax and regulatory policies that were…
THE MEYERS REPORT Economic Notes
New Employment Trends As a direct result of the anticipated higher costs from …
Sensitive Indicators There are relatively few signs of the widely reported pickup in business activity…
11/5/2012 – Excerpt from November 5, 2012, newsletter: Could China Become World Ally For US? The Chinese see the US as a source of vital energy and other technologies as they move toward energy independence…
THE MEYERS REPORT Economic Notes
Housing Market Environment Mixed for 2013 As we end 2012, the environment for the borrowing on primary residences is mixed…
10/29/2012 – Excerpt from October 29, 2012, newsletter: Energy & Environment Policy For Next Administration
Old technology offers an alternative to tilting at windmills and plugging cow flatulence. We can create clean energy and clean building materials out of landfill and coal ash. What this means is…
THE MEYERS REPORT Economic Notes
Housing, Auto and light truck sales, and veterans
10/22/2012 – Excerpt from October 22, 2012, newsletter: The Other Financial Cliff: Economic Freedom While there is widespread recognition the US is performing poorly, there is not widespread recognition of the loss in economic freedom…
THE MEYERS REPORT Economic Notes
Housing The ballyhooing over a housing recovery may be more noise than substance…
10/15/2012 – Excerpt from October 15, 2012, newsletter: Program to Jump Start Economy
“Good enough for government work,” we have all heard that phrase. It usually is greeted with chuckles, but it really states what most of us think of the quality of government efficiency…
THE MEYERS REPORT Economic Notes
Housing Whatever improvement there is in the housing market is…
10/8/2012- Excerpt from October 8, 2012, newsletter: Understanding UnderEmployed and UnEmployed In response to the “star” status given the Unemployment numbers last week, as a result of a nationally televised presidential debate, Genetski conducted a special study of workers’ conditions going back to 2000. This includes …
THE MEYERS REPORT Economic Notes: Foreclosures, Energy, and Intuition v. Statistics
10/1/2012 - Excerpt from October 1, 2012, newsletter: Work: System v. Job Easy access to unemployment funds allow people who can work to not work. This does not mean we should do away with the system. It does mean…
And the latest unemployment stats seem to indicate that where there is energy development, there is lower unemployment…
THE MEYERS REPORT Economic Notes: More On Broken Condos In response to last week’s article, a reader pointed to other issues compounding the problems.
9/24/2012 - Excerpt from September 24, 2012, newsletter: Up Close and In Person
We have a friend of many years who is an American working in a very dangerous part of the world to help underdeveloped countries know joy and freedom of living in a democratic society. The following information was received on Saturday that sheds more light on the events of last week…
THE MEYERS REPORT Economic Notes
New Type of Broken Condo In the past, a broken condo or homeowners association was one…
Home Ownership Still In Trouble In June 2008, the number of Prime home loans…
9/17/2012 - Excerpt from September 17, 2012, newsletter: Impact of 2012 Elections on US Economy
The 2012 election has significant implications for the economy. Both Presidential candidates have presented a clear view of the policies they will pursue…
THE MEYERS REPORT Economic Notes
Housing Recovery? Maybe, Maybe Not?: There is talk about a recovery in the housing market. While there appear to be improvements in the nation’s Home Price Index (HPI), we need to consider where we are in relation…
9/10/2012 – Excerpt from September 10, 2012, newsletter: Where Have All Our Research Labs Gone? They have disappeared from the American scene. They have gone off-shore, because…
THE MEYERS REPORT Economic Notes
U.S. Financial Facts: Budget deficits, FY2012 spending, and available areas to reduce deficit…
9/4/2012 - Excerpt from September 4, 2012, newsletter: Improve Schools With No Money
Improving the educational system doesn’t have to cost more money…
THE MEYERS REPORT Economic Notes
Rankings for Secondary Schools: How does the USA stack-up in the world today?
8/27/2012 – Excerpt from August 27, 2012, newsletter: Unemployment Fraud
Next Monday is Labor Day. As we often have done in the past, here is an update on employment issues affecting businesses today…
THE MEYERS REPORT Economic Notes
The Home Price Index(HPI) from CoreLogic seems to indicate two basic trends in housing.
8/20/2012 – Excerpt from August 20, 2012, newsletter: Home Mortgage Market
The housing market and mortgages continue to impact our economy. This week we focus on the new face of home mortgages by comparing today with changes since 2000. Our analysis and graphics are derived from the data provided by CoreLogic….
THE MEYERS REPORT Economic Notes Graphs of home mortgage market data
8/13/2012 – Excerpt from August 13, 2012, newsletter: When Your Commercial Loan Goes To Workout Borrowers need to be aware that in the workout process there is a separation of interest between the borrower and the bank…
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Housing Market Home Mortgage Rates for a 30-year fixed loan are running at 3.375%…
US Home Values Rise for non-distressed housing, the fourth consecutive month…
THE MEYERS REPORT Economic Notes: Commercial Real Estate Lending
SBA 504 Program Changes by the end of September of this year, the SBA will no longer be accepting “refinances”…
8/6/2012 - Excerpt from August 6, 2012, newsletter: How Commercial Banks Should Run
Once upon a time there was a great bank for small businesses, because they really knew their business clients…
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Lack of Diversification Fueled Indian Power Failure
Last week 670 million Indian citizens, roughly 10% of the world’s population, were left without power for days…
THE MEYERS REPORT Economic Notes
Leading World Corn Importers and Exporters
7/30/2012 – Excerpt from July 30, 2012, newsletter: Troubles For Solid Commercial Borrowers
If you have signed personally, check on the health of your bank. If there is any question, look for…
THE MEYERS REPORT Economic Notes
Filling stations in the home…
US steel imports…
7/23/2012 – Excerpt from July 23, 2012, newsletter: Not All Bad News--However, we need a level trading field and a regulatory environment that is motivated more by logic and less than political objectives…
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Where We Stand: The Steel Industry
“The steel industry has orders booked through…
THE MEYERS REPORT Economic Notes
The Chinese Factor The US steel industry is coming back after hitting…
7/16/2012 - Excerpt from July 16, 2012, newsletter: Elephant in the Room–It’s a ‘long hot summer.’ The question is why?…
THE MEYERS REPORT Economic Notes
Housing purchase activity continues to fall…
Progress on Renewable Energy …the U.S. is producing 5% of our electrical energy needs from renewables…
7/9/2012 – Excerpt from July 9, 2012, newsletter: The “Other” Ruling: Supreme Court Reigns in the Department of Labor
The court’s ruling will likely impact the activities of other government agencies that are ignoring the concept of due process and law-making…
THE MEYERS REPORT Economic Notes: Higher Credit Needed for Home Mortgages
Since the height of the housing bubble in 2006, credit scores and other lending requirements have…
7/2/2012 – Excerpt from July 2, 2012, newsletter: Black Gold Is Really White and Comes In Layers
The best crude on earth is Bonny light, out of Nigeria. It looks like vegetable cooking oil and, because it is that clear, clean, light and sweet, it is cheaper to refine; and produces….
THE MEYERS REPORT Economic Notes: Warning Signs In An Improving Housing Market
6/25/2012 – Excerpt from June 25, 2012, newsletter: Challenges for “Non-Recourse” in Loans
A major shift is now here in commercial real estate loans and their traditional “non-recourse” status is under attack….
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Changes in Home Values: There is an improvement in the housing market, at least through the end of April of this year.
THE MEYERS REPORT Economic Notes: Where does the USA stand in the world?
6/18/2012 - Excerpt from June 18, 2012, newsletter: Massive Economic Stimulus—Repeal Unfunded Mandates
Repeal of unfunded federal mandates, as a means of stimulating the economy, has been often ignored and rarely explored. Yet, these laws, rules and regulations emanating from the federal government that are forced on state and local governments, and the private sector, cost…
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THE MEYERS REPORT Economic Notes: May Auto Sales Less Up Than Expected
6/11/2012 - Excerpt from June 11, 2012, newsletter: Oil Everywhere Weakens OPEC
OPEC is weakening. With oil and gas being found all over the world, with increased fuel efficiencies and with alternative fuels being developed…
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THE MEYERS REPORT Economic Notes: More American Technology and Retail Sales and Housing Market Improves
6/4/2012 - Excerpt from June 4, 2012, newsletter: US Still Safe Haven and Opportunity
Economic pressure is gripping Europe, as Greece considers leaving the Euro. Japan is shutting down the nuclear industry, further damaging their economy. Yet, throughout it all the U.S., still is viewed…
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Forecasts and Fracking challenges
THE MEYERS REPORT Economic Notes: Natural gas demand declines and Summer Power Shortages?
5/29/2012 - Excerpt from May 29, 2012, newsletter: Courts Stop NLRB’s Ambush (Quickie) Election Rule
“Because the court ruled only on the method of the vote and not the legality of the rule change, expect…
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Correction? One of our readers took issue with last week’s article “Mortgages, Lending Trends, and Home Values,” as having a misleading statement about BofA offering mortgage forgiveness.
THE MEYERS REPORT Economic Notes:
Home Price Changes By Market Some metro areas markets fared better than others.
Oil refining investment.
Experts say that refiners throughout North America are now investing millions of dollars in infrastructure…
TransCanada Corp has successfully opened the Keystone Hardisty Terminal…
Courts Rule Trucks To Remain Unsafe? A recent court ruling struck down a federal rule that would have required “on board” monitoring systems.
5/21/2012 - Excerpt from May 21, 2012, newsletter: Mortgages, Lending Trends and Home Values
Analyzing recent CoreLogic data we see how mortgage lenders and borrowers have changed their lending and borrowing patterns…
THE MEYERS REPORT Economic Notes: EU Shelving Austerity?
At the G-8 conference this past week, leaders of the EU agreed to spend more money…
5/14/2012 - Excerpt from May 14, 2012, newsletter: Economy Weakening?
There are multiple signs that the ecomony is slowing down, after what looked like a clear recovery…
THE MEYERS REPORT Economic Notes: Auto Sales and Gasoline Sales
5/7/2012 – Excerpt from May 7, 2012, newsletter: Tax Increases, Economy, Europe and the US Election
The most significant tax hike in US history will occur on January 1, 2013…
THE MEYERS REPORT Economic Notes: Japanese N-power plant closing.
With this action, the once seemingly all-powerful Japanese economy…
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