US Adds Fewer Jobs Than Expected

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US Adds Fewer Jobs Than Expected

Sources:

Today’s News Synopsis:

Aaron Norris of the Norris Group gives this week’s Norris Group real estate headline roundup. News came out this morning that the US added few jobs than expected but unemployment held steady at 4.9%. This latest report on the jobs has gotten both sides of the Federal Reserve arguing for their position on whether or not to increase rates. Inc. 5000 just released their list of mortgage finance companies that have shown the strongest growth.

In The News:

Forbes – “New Real Estate Sector Underscores Value of Equity REITs” (9-1-16)

“Ask any investing expert and they’ll tell you that real estate is a foundational element of a well-rounded portfolio.”

Bloomberg – “Gross Says September Rate Hike a Go as Pimco Warns Not So Fast” (9-2-16)

“Bill Gross says August’s jobs data ensure the Federal Reserve will raise interest rates this month. Pacific Investment Management Co., his former firm, says the central bank will wait. Bond traders are on the fence.”

CNN Money – “Hiring slows: America gains 151,000 jobs in August” (9-2-16)

“The U.S. economy added 151,000 jobs in August, a decent gain but a lot less than the 275,000 new jobs in July. The unemployment rate remained at 4.9%. It fell below 5% earlier this year for the first time since 2008.”

Housing Wire – “Inc. 5000: Here are the fastest growing companies in mortgage finance” (9-2-16)

“The mortgage industry is more than a trillion-dollar industry, attracting plenty of businesses and entrepreneurs who would like to share in that wealth.”

Nasdaq – “Market Close Report: NASDAQ Composite Index Closes at 5,249.90 up 22.69 points” (9-2-16)

“Friday’s session closes with the NASDAQ Composite Index at 5,249.90. The total shares traded for the NASDAQ was over 1.46 billion.”

US News – “What Are the Best International Bond Markets?” (9-2-16)

“With low interest rates in the U.S. and outright negative rates in some overseas markets, the bond market probably isn’t the first thing to come to mind when investors are looking for yield.”

DS News – “Ten-X Reports Housing Health in August” (9-2-16)

“US home sales continue to float in a healthy range as suggested by trends in the Ten-X Nowcast, according to a report from Ten-X.”

Bloomberg – “Lukewarm Hiring Feeds Both Sides of Fed Debate on Sept. Move” (9-2-16)

“For the Federal Reserve, September is proving to be the cruelest month. A weaker-than-expected U.S. jobs report for August may slightly strengthen the hand of Fed officials who want to delay an interest-rate increase when they meet in a few weeks, though others may argue that cumulative gains warrant a move soon.”

California Real Estate Investor Events

Bruce Norris will be speaking at the AOA Million Dollar Tradeshow and Landlording Conference 2016 on Tuesday, September 20.

Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with InvestClub for Women on Wednesday, September 21.

Bruce Norris will be presenting Stay Put, Cash Out, Or Change Seats? with InvestClub for Women and Robert Hall & Associates on September 28.

Bruce Norris will be presenting Cashing In On a Boom: Investing in Quadrant 4 at the Back Bay Conference Center on Saturday, October 8.

Bruce Norris of The Norris Group will be presenting the 9th annual I Survived Real Estate 2016 on Friday, October 21.

Image copyright source: www.flickr.com/photos/124247024

Looking Back:

Home prices saw a 7.4% increase in July, a 1.2% increase month-over-month although its slowest growth overall in 21 months. HUD released its latest report showing they sold $15.8 billion in nonperforming loans over the prior four years, leading to a decrease in foreclosures and insurance losses. As a result of a reset in home equity lines of credit set to happen over the following three years, almost 2.5 million borrowers were likely to have been faced with a $250 monthly increase on their mortgage payments.

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US Adds Fewer Jobs Than Expected