A third of U.S. homeowners has negative equity
12.08.2008 - 09:55
Seattle (BoerseGo.de) - According to the Zillow.com real estate internet platform to see almost a third of all homeowners in the U.S. who have acquired over the past five years, a house with mortgage debt face greater than the value of their homes. In the second quarter of the year as house prices have fallen by 9.9 percent. It was concluded that having 29 percent of the equity Hauseigentüumer a negative stand. Those who have purchased their homes at the height of the housing market in 2006, see, now when comparing their values to their real estate mortgage with 45 percent in the red. Negative equity and declining home prices make it difficult for the homeowners the possibility of profitable house sale. Therefore, last year nearly a third of all homes sold were repulsed with a loss. This fact contributed to the proliferation of foreclosure rate to ...
Source: http://www.boerse-go.de/partner/ftor/shownews.php?ida=948751&idc=2
IEA estimates of oil demand increases and warns against price risks
12.08. 2008 - 10:48
Paris (BoerseGo.de) - The International Energy Agency raised its forecast for global oil demand in 2009, slightly compared to 2008 and now expects an increase of 1.1 percent to 87.8 million barrels per day. Previously, the IEA was going from an increase of 1 percent. The increase covers a demand of 70,000 barrels per day.
The view for the current year remains unchanged. Accordingly, the IEA presents for 2008 continue to Demand growth of 0.9 percent to 86.9 million barrels per day in prospect.
The report also states that neither expected the recent closure of the Baku-Tblisi-Ceyhan pipeline is still the military conflict in the Caucasus between Georgia and Russia, major influences on oil prices following suit. At the same time, the IEA warns of a general underestimation of the fall in oil prices. It is too early to market with a fundamental change likely, since no indications of concern are visible.
UBS billion loss and depreciation, clients pull funds from
12.08.2008 - 10:24
Zurich (BoerseGo.de) - Swiss banking giant UBS has been run in the second quarter loss of 358 million francs, Swiss and 221 million euros. The result includes in connection with mortgage-related U.S. loans amortization of 5.1 billion dollars or 3.4 billion euros. According to Chief Financial Officer Marco Suter
, the bank saw in the quarter with a disappointing and surprisingly large cash outflow of 43.8 billion Swiss francs, or face $ 40,200,000,000. The restructuring plan set in motion will not fall immediately, and it is expected that in the area of customer cash flows in the short term there is more pressure.
Economy: State budget deficit of the U.S. higher than expected
Washington (BoerseGo.de) - The U.S. Treasury has for the month of July from a deficit of U.S. state budget amounting to 102.8 billion dollars, economists forecast a deficit of 86.8 billion dollars. In the same period last year, the deficit of the U.S. government budget 36.4 billion U.S. dollars. Economists for the deficit make the rescue efforts of the government responsible for the imbalance in troubled banks and tax rebates.I'm wondering how long the stock market here actually still plays the optimism. The only argument is that the degree of institutional investment is historically low. The significantly pleasing commodity prices speak for a reduction in inflation and easing the pressure on margins for the company's future quarters.
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