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Mortgage News for Monday - March 14, 2005

More Mortgage News
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• Coastal real estate markets feel supply pinch
• Fed's Yellen says US economy on a firmer footing
• They call them real estate flippers
Mortgage News
Fed's Yellen says US economy on a firmer footing - 2005-03-14
The U.S. economy is on firmer ground than last spring and with growth above trend, interest rates are not yet at neutral levels, San Francisco Federal Reserve Bank President Janet Yellen said on Monday.

"Growth certainly appears to be self-sustaining. Investment spending has been rather robust and inflation is under control. The economy is on a sound footing in real terms. We have to be careful to make sure it stays there," Yellen told reporters after a speech focused on bank supervision.
Read the full story at Reuters
 
They call them real estate flippers - 2005-03-14
In the 1990s, Flippers were stock jockeys who finagled their way into initial public offerings, only to flip them days or hours later for big profits.

"For the typical American, it's the best and most generous tax break in the entire tax code," says Douglas Duncan, chief economist for the Mortgage Bankers Association.

Generating a profit may seem easy in a flippers' market, but getting from point A to point B can be a lot of work, particularly if the brand of investing you're used to is of the point-and-click variety.
Read the full story at CNN Money
 






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