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first_imgInnscor Africa Limited ( listed on the Zimbabwe Stock Exchange under the Industrial holding sector has released it’s 2001 annual report.For more information about Innscor Africa Limited ( reports, abridged reports, interim earnings results and earnings presentations, visit the Innscor Africa Limited ( company page on AfricanFinancials.Document: Innscor Africa Limited (  2001 annual report.Company ProfileInnscor Africa Limited manufactures and markets fast-moving and durable consumer products in Zimbabwe and exports to international markets. The company is primarily involved in maize milling and the production of stock feeds, edible oils, baker’s fat and pork products; as well as poultry, table eggs and day-old chicks. A subsidiary division manufactures and markets a range of plastic carry bags, televisions, refrigerators and other general household appliances and consumables such as rice, dairy, candles and beverages. Innscor Africa Limited was founded in 1987 and its operations comprise National Foods Holding Limited, Colcom Holdings Limited, Irvine’s Zimbabwe (Private) Limited, Bakeries, Appliance Manufacturing, Natpak (Private) Limited, Profeeds (Private) Limited and Probrands (Private) Limited. Innscor Africa Limited is listed on the Zimbabwe Stock Exchangelast_img read more

first_imgThe Mauritius Development Investment Trust Co. Ltd ( listed on the Stock Exchange of Mauritius under the Investment sector has released it’s 2010 interim results for the half year.For more information about The Mauritius Development Investment Trust Co. Ltd ( reports, abridged reports, interim earnings results and earnings presentations, visit the The Mauritius Development Investment Trust Co. Ltd ( company page on AfricanFinancials.Document: The Mauritius Development Investment Trust Co. Ltd (  2010 interim results for the half year.Company ProfileThe Mauritius Development Investment Trust Co. Limited is an investment institution that invest in sectors such as financial services, manufacturing, construction, leisure and hotels, sugar, property development, transport, commerce, and information, communications and technology. The company is headquartered in Port-Louis, Mauritius and holds as well as manages securities in the Republic of Mauritius. The Mauritius Development Investment Trust Co. Limited is listed on the Stock Exchange of Mauritius.last_img read more

first_imgCFC Stanbic Holdings Limited ( listed on the Nairobi Securities Exchange under the Banking sector has released it’s 2011 interim results for the third quarter.For more information about CFC Stanbic Holdings Limited ( reports, abridged reports, interim earnings results and earnings presentations, visit the CFC Stanbic Holdings Limited ( company page on AfricanFinancials.Document: CFC Stanbic Holdings Limited (  2011 interim results for the third quarter.Company ProfileCFC Stanbic Holdings Limited is a financial service, insurance agency and stock broking company in Kenya offering products and services to the personal, commercial, corporate and investment banking sectors. The company also has division servicing clients in the Republic of South Sudan. Its corporate and investment banking division services range from transactional banking, debt securities and equity trading to project, structured and trade financing. Its personal and commercial banking division offers services ranging from The Corporate and Investment Banking segment offers foreign exchange, and debt securities and equities trading services; transactional banking and investor services; investment banking services, such as project finance, advisory, structured finance, structured trade finance, corporate lending, primary markets, and property finance services; and wealth management and advisory services to larger corporates, financial institutions, and international counterparties. The Personal and Business Banking segment provides residential accommodation loans to individual customers; installment sales and finance leases, including installment finance in the consumer vehicles market, and vehicles and equipment finance in the business market; and card facilities to individuals and businesses. This segment also offers transactional and lending products comprising deposit taking, electronic banking, cheque accounts, and other lending products associated with the various points of contact channels, such as ATMs, Internet, and branches. The company was formerly known as CfC Stanbic Holdings Limited and changed its name to Stanbic Holdings Plc in October 2016. The company is based in Nairobi, Kenya. Stanbic Holdings Plc is a subsidiary of Stanbic Africa Holdings Limited. CFC Stanbic Holdings Limited is listed on the Nairobi Securities Exchangelast_img read more

first_imgWilderness Holdings Limited ( listed on the Botswana Stock Exchange under the Tourism sector has released it’s 2011 abridged results.For more information about Wilderness Holdings Limited ( reports, abridged reports, interim earnings results and earnings presentations, visit the Wilderness Holdings Limited ( company page on AfricanFinancials.Document: Wilderness Holdings Limited (  2011 abridged results.Company ProfileWilderness Holding Limited is a world-renowned holding company for the ecotourism brands of Wilderness Safaris and Wilderness Collection. The company is dedicated to promoting and managing responsible and sustainable wildlife tourism in southern Africa and is regarded as Africa’s premier ecotourism company. The Group operate 45 safari camps and lodges and 10 scheduled overland safaris in Botswana, Congo, Kenya, Namibia, Seychelles, South Africa, Zambia and Zimbabwe; with a combined capacity to host 35 000 guests per year. Wilderness Safaris boasts a selection of luxurious, environmentally-friendly lodges and camps in premier safari destinations; including the Okavango Delta, the Namib Desert, Hwange National Park, Mana Pools National Park, Damaraland, Etosha and Kafue National Park. Wilderness Air offers scheduled transfers between Wilderness camps and a private charter service. The Wilderness Wildlife Trust is an independent entity dedicated to raising funds to improve protection, knowledge and management of southern Africa’s wildlife. Children in the Wilderness (CITW) is an environmental and life skills educational programme operating in Botswana, Malawi, Namibia, Seychelles, South Africa, Zambia and Zimbabwe.last_img read more

first_imgMRS OIL Nigeria Plc ( listed on the Nigerian Stock Exchange under the Energy sector has released it’s 2016 interim results for the third quarter.For more information about MRS OIL Nigeria Plc ( reports, abridged reports, interim earnings results and earnings presentations, visit the MRS OIL Nigeria Plc ( company page on AfricanFinancials.Document: MRS OIL Nigeria Plc (  2016 interim results for the third quarter.Company Profile>MRS Oil Nigeria Plc markets and distributes a range of refined petroleum products and lubricants in Nigeria for the automotive, industrial and aviation sectors. Fuel products include petroleum motor spirit, automotive gas oil, dual purpose kerosene, aviation kerosene, low-pour fuel oil. The company also sells a range of high-quality lubricants for petrol and diesel engines as well as greases which are manufactured and distributed out of a state-of-the-art proprietary blending facility located at Apapa. The Aviation division sells aviation turbine kerosene. MRS Oil Nigeria Plc operates through 138 company-owned retail outlets and about 255 third-party-owned outlets. Formerly known as Chevron Oil Nigeria Plc, the company changed its name to MRS Oil Nigeria in 2009. MRS Oil Nigeria Plc is a subsidiary of MRS Africa Holdings Limited. The company’s head office is in Lagos, Nigeria. MRS Oil Nigeria Plc is listed on the Nigerian Stock Exchangelast_img read more

first_imgArchDaily Projects Save this picture!© Fernando Guerra | FG+SG+ 56Curated by Matheus Pereira Share ShareFacebookTwitterPinterestWhatsappMailOr Clipboard Architects: Carlos Castanheira, Clara Bastai Year Completion year of this architecture project Year:  Collaboration:Patrícia Sousa, Olaf Hitz, Helen van ´t Hart, Duarte RodriguesProject Stability:Arménio F. da Silva, Engº CivilConstructor:A Construtora de Loureiro, Lda, Henriques & Rodrigues, Lda. ASO – Armando Sousa Oliveira, Lda. ASA – António Sousa Alves, Lda.Project Dates:Janeiro 1999 / Junho 2001Construction Dates:Junho 1999 / Junho 2001City:CucujãesCountry:PortugalMore SpecsLess SpecsSave this picture!© Fernando Guerra | FG+SGText description provided by the architects. The architect was allocated the third house in the Quinta do Buraco condominium, located in a plot of land that nobody wanted. The search for the right solution was both interesting and complex given the steeply sloping terrain, with an underground water-course and dense tree cover – where invasive species were crowding out the autochthonous species.Save this picture!© Fernando Guerra | FG+SGSave this picture!Plan – 1st floorSave this picture!© Fernando Guerra | FG+SGThe relationship with the client was excellent notwithstanding the constant refrain: There’s nothing worse than building your own home; it’s a sea of indecision, a world of doubts; everything becomes much easier when it’s for other people.Save this picture!© Fernando Guerra | FG+SGSave this picture!Section 3Save this picture!© Fernando Guerra | FG+SGThe volume containing the family’s communal areas lies perpendicular to the curves at that level, thus creating new landings and consolidating the existing landings. An office was placed over the garage area in order to make it possible to work at home on occasions and take advantage of this location. The front room, located in the intersection between two bodies has a higher ceiling and establishes a connection between the private area and the communal area. Due to the slope of the terrain, it was possible to create another ground floor room, for use by the family’s children and their friends.Save this picture!© Fernando Guerra | FG+SGIn the site where a water-course was identified, there is now a three-quarter body. A bridge was also built, terminating in a terrace, thereby maintaining the original profile of the land and creating the possibility of encompassing the landscape below, both from the interior and the exterior. Next to the plot of land itself, the entire structure is made of concrete. Save this picture!© Fernando Guerra | FG+SGFrom the concrete base upwards, all the pillars, beams, linings and door and window frames are made of wood, produced by excellent carpenters, who fortunately can still be found. Inside the building, the coverings are made of wood in the ceilings and door and window frames; glass; several painted, plastered areas and slate in all floor coverings.Save this picture!© Fernando Guerra | FG+SGThe exterior covering is constituted by wonderful manufactured copper, glass and slate on the floor areas adjacent to the interior floors. The colours are, and will remain, the natural colours of the respective materials. Work will now proceed in the exterior zone. A good client is the most important element for a construction work. The people who build it, will constitute the work itself.(September 2001. Carlos Castanheira)Save this picture!© Fernando Guerra | FG+SGProject gallerySee allShow lessTorremuelle, a Room With a Sea View / Estudio Primitivo GonzálezSelected ProjectsRun Run Run Intervention / Andrés Jaque / Office for Political InnovationSelected Projects Share CopyHouses, House Interiors•Cucujães, Portugal “COPY” “COPY” House Quinta do Buraco III / Carlos Castanheira + Clara Bastai Houses Photographs Photographs:  Fernando Guerra | FG+SG Lead Architects: Carlos Castanheira, Carlos Castanheira & Clara Bastai, Arqtos Lda. Portugal 2001 ShareFacebookTwitterPinterestWhatsappMailOr Clipboard House Quinta do Buraco III / Carlos Castanheira + Clara BastaiSave this projectSaveHouse Quinta do Buraco III / Carlos Castanheira + Clara Bastai CopyAbout this officeCarlos CastanheiraOfficeFollowClara BastaiOfficeFollowProductWood#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesInterior DesignResidential InteriorsHouse InteriorsCucujãesPortugalPublished on August 04, 2020Cite: “House Quinta do Buraco III / Carlos Castanheira + Clara Bastai” [Casa da Quinta do Buraco III / Carlos Castanheira + Clara Bastai] 04 Aug 2020. ArchDaily. Accessed 10 Jun 2021. ISSN 0719-8884Browse the CatalogAluminium CompositesTechnowoodHow to Design a Façade with AluProfile Vertical ProfilesGlassMitrexSolar GreenhouseMetal PanelsAurubisOxidized Copper: Nordic BrownDoorsEGGERWood Laminate Doors in Molecular Plant Science InstituteStonesCosentinoSurfaces – Silestone® Nebula SeriesWall / Ceiling LightsLouis PoulsenLamp – LP RiplsWood Boards / HPL PanelsBruagRoom Dividers – Partition Wall MDFStonesNeolithSintered Stone – Mar del PlataWindowspanoramah!®ah! SecurityPanels / Prefabricated AssembliesULMA Architectural SolutionsMIS Facade PanelCarpetsFabromont AGTextile Floor Covering – Orbital® 07 COLORpunkt®LightsNorka lightingLuminaire – BelfastMore products »Save想阅读文章的中文版本吗?Buraco三号乡间邸宅 / Carlos Castanheira + Clara Bastai是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my streamlast_img read more

first_imgDON-8r: Testing User Interaction  58 total views,  2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis1 About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of Researching massive growth in giving. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis1 Tagged with: Humour Technology Advertisement The nearly complete DON-8r out and about in Dundee raising money for Dundee Science Centre. This is Tim Pryde’s final year project for Product Design at the University of  57 total views,  1 views today Howard Lake | 6 May 2011 | Newslast_img read more

first_imgDoes the People’s Republic of China have the right to defend its sovereignty in the waters surrounding China?What are U.S. aircraft carriers, destroyers, nuclear submarines, bombers and underwater drones doing in the South China Sea? China has no such force in the Gulf of Mexico; yet China is depicted here as the aggressor.For more than 100 years, the imperialists invoked the “freedom of navigation” to dominate Chinese trade. U.S. and British gunboats controlled China’s Yangtze, Yellow and Pearl rivers and coastal waters, where they patrolled up to 1,300 miles inland. Finally, in 1949 with the successful Chinese Revolution, the People’s Liberation Army kicked out all foreign forces and their hated battleships from its rivers.“Freedom of navigation” is a despised term in China, reeking of past colonial domination.A Chinese ‘slingshot’ Almost daily we hear that China is “militarizing” the South China Sea by building air bases on seven small islands.President-elect Donald Trump has tweeted that “China is building a massive fortress in the middle of the South China Sea.” These expanded mini-islands are described in the U.S. media as a great threat to world peace and regional stability.China’s Defense Ministry announced on Dec. 16 that it would arm the islands with defensive anti-ship missiles: “They are primarily for defense and self-protection and this is proper and legitimate. For instance, if someone was at the door of your home, cocky and swaggering, how could it be that you wouldn’t prepare a slingshot?”Washington has demanded that China stop this island construction. It carried out several highly threatening “freedom of navigation operations” close to these mini-islands last May.The Chinese military responded by scrambling J-11 fighter jets. Chinese pilots reportedly issued warnings to an American destroyer, the USS William P. Lawrence, to leave Chinese territorial waters or face engagement. The Chinese Navy dispatched three warships and again officially opposed the repeated intrusions by air and ships in Chinese waters.Then, on Dec. 17, China snatched an underwater drone operated from the USNS Bowditch, which was carrying out reconnaissance to detect Chinese submarine routes and construction on the seven islands. After objecting to U.S. intrusion in its waters, China returned the drone.‘Pivot to Asia’A new documentary by filmmaker John Pilger, “The Coming War on China,” describes the U.S. military presence in Asia in the film’s opening moments: “Today, more than 400 American military bases encircle China with missiles, bombers, warships and, above all, nuclear weapons. From Australia north through the Pacific to Japan, Korea and across Eurasia to Afghanistan and India, the bases form, as one U.S. strategist puts it, ‘the perfect noose.’“The greatest build-up of NATO military forces since the Second World War is under way on the western borders of Russia. On the other side of the world, the rise of China as the world’s second economic power is viewed in Washington as another ‘threat’ to American dominance.”President Obama announced this provocative U.S. military offensive, called the “pivot to Asia,” in 2011. It includes a plan to move two-thirds of the U.S. Navy to Asia and the Pacific. The weapons are aimed at China.Conveniently, the latest confrontations in the South China Sea come at a time when the U.S. Navy needs to justify its biggest expansion in 35 years.It presently has 273 battle force ships. Obama’s Asia Pivot would increase it to 308. Trump pledged to increase it to 350. The U.S. Navy immediately put forward a plan for 355 ships.Building this fabulously expensive new fleet means guaranteed long-term profits and decades of cost overruns for the largest U.S. corporations, including General Dynamics, Raytheon, Lockheed Martin, BAE Systems, Boeing, Northrop Grumman and L3; power suppliers General Electric and Babcock and Wilcox; and shipbuilders such as Huntington Ingalls Industries (HII).This costly new fleet to threaten the world will rob from every U.S. social program not already gutted by past military expenditures.South China Sea, a chokeholdChina has claimed the majority of the South China Sea for centuries. Now the People’s Republic of China, with 1.3 billion people, is determined not to relinquish its sovereign right to protect and defend this Chinese territory.Its claim is based on a 1947 map made by the prerevolutionary Kuomintang government and recognized by the U.S. at the time, defining what is called the “nine-dash line.” It encompasses about 90 percent of the South China Sea, including areas claimed by Malaysia, the Philippines, Taiwan and Vietnam.U.S. imperialism has attempted to strike deals and exert enormous pressure on these countries to force alliances against China by claiming to be a protector of small nations and their rights.The decision of President Duterte of the Philippines to open relations with China during a state visit in late October and step back from being a U.S. pawn has sent shockwaves through Pentagon planners.The area holds the richest fisheries in the world and possibly rich deposits of oil and natural gas.The location of the South China Sea, which links the Indian and Pacific oceans, makes it strategically important. About half the world’s merchant ships pass through it. Keeping the South China Sea open for commercial navigation is a top priority for China.Eighty percent of China’s oil imports pass through the narrow Malacca Straits, where ship traffic is three times greater than through the Suez Canal and five times more than through the Panama Canal. A blockade by the U.S. Navy could strangle China’s economy and devastate all the countries in the region.The region surrounding the South China Sea accounts for over 60 percent of U.S. exports. It was the focus of the recently failed U.S. effort to create a Trans-Pacific Partnership — a regional trade alliance of 11 Pacific-rim countries that would have excluded China.The setbacks for U.S. imperialism’s arrogant plans for the TPP, as well as a realignment of the Philippines, may bring more reckless threats.China is determined to keep the South China Sea open to all commercial ships. But not to uninvited military ships.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

first_imgHome Indiana Agriculture News AgriNovus Indiana Announces Agenda for 2018 Agbioscience Innovation Summit Facebook Twitter Previous articleRyan Martin’s Indiana Ag Forecast for November 9, 2018Next articleCorn Growers Push for Farm Bill in Lame Duck Hoosier Ag Today AgriNovus Indiana Announces Agenda for 2018 Agbioscience Innovation Summit SHARE AgriNovus Indiana announces the agenda and speakers for the 2018 Agbioscience Innovation Summit “Ag+Bio+Science Convergence in Indiana” presented by Corteva Agriscience and Elanco Animal Health on Nov. 29, 2018, in Indianapolis.“This year’s Summit brings together a star-studded line-up of speakers from Indiana and across the country for important conversations about the agbiosciences,” said Beth Bechdol, president and CEO of AgriNovus Indiana. “Throughout the day, attendees will hear about food and ag tech investment trends, start-up activity and innovation, consumer perspectives, technology convergence with other industries and opportunities for continued Indiana agbioscience leadership.”The day-long program will feature a number of keynote presentations along with four panel discussions. The morning will highlight the investment landscape for the agbiosciences; the journey of technology and agbioscience entrepreneurs; and how science and technology in food and agriculture can be shaped by consumer perspectives and trends. Scott Hamilton Kennedy, director, producer and writer of the Academy Award-nominated documentary, Food Evolution, will be the luncheon keynote speaker and will share his observations on how science in food is “used and abused” in the public discourse.The afternoon sessions will address the convergence of the agbiosciences with other industry sectors and shared opportunities in research and talent development; the potential for the agbiosciences to address global challenges; and how Indiana’s global reputation in pooling localized civic, educational and industry resources make the region a stand-out in collaboration.Speakers:Elaine Bedel, president, Indiana Economic Development CorporationRobert Colangelo, founding farmer and president, Green Sense FarmsJim Collins, CEO, Corteva Agriscience, Agriculture Division of DowDuPontScott Dorsey, managing partner, High AlphaWayne Eckerle, vice president of global research and technology, Cummins, Inc.Gebisa Ejeta, director, Purdue Center for Global Food Security and World Food Prize WinnerSue Ellspermann, president, Ivy Tech Community CollegeMitch Frazier, CEO, Reynolds Farm EquipmentVijay Harrell, CEO, TradeLanes, Inc.David Johnson, president and CEO, Central Indiana Corporate PartnershipScott Hamilton Kennedy, director, producer and writer, Food EvolutionBob Krouse, CEO, Midwest Poultry ServicesJayson Lusk, department head and distinguished professor of agricultural economics, Purdue UniversityScott Massey, co-founder and CEO, HeliponixSue McCloskey, co-founder, Fair Oaks Farms and fairlifeSonia Nofziger Dasgupta, vice president of commercial strategy, EnviroKureJoseph Parilla, fellow, Brookings Institution Metropolitan Policy ProgramJack Phillips, president and CEO, Roche Diagnostics CorporationDavid Rubenstein, co-founder and co-executive chairman, The Carlyle Group + host of The David Rubenstein Show: Peer-to-Peer Conversations on Bloomberg TV and PBSAaron Rudberg, managing director, S2G VenturesAaron Schacht, executive vice president of innovation, regulatory and business development, Elanco Animal HealthEllie Symes, co-founder and CEO, The Bee CorpAndrew Uden, co-founder and president of AgVision International and co-founder of Quantified AgThe Summit brings together over 400 industry and business leaders, entrepreneurs, scientists and investors as well as representatives from several Indiana colleges and universities.The Summit will take place at the JW Marriott in downtown Indianapolis on Nov. 29, 2018 with registration at 8:00 a.m., program from 9 a.m. to 5 p.m. and a networking reception to follow. The attendee fee is $99. On-line registration closes Nov. 27, with on-site registration available.Sponsors of the conference include Corteva Agriscience, Elanco Animal Health, Indiana Economic Development Corporation, Ag Alumni Seed, Indy Chamber, Northeast Indiana Regional Partnership, Elevate Ventures, Huntington University, Ice Miller LLP, Infosys, KBKG, Wabash Heartland Innovation Network, Barnes and Thornburg, Clear Object, Context Network, Indiana Biosciences Research Institute, NineStar, The Indiana Farm Equipment & Technology Expo, Indiana Soybean Alliance, Indiana Corn Marketing Council, Ivy Tech Community College, Mavin Holding, PNC Bank, Sikich, Systems Technology Solution, Thomas P. Miller and Associates, The Plaid Agency, Indiana Municipal Power Agency, Open Prairie Ventures, Centric Innovation Network, Indiana FFA, Women & hi tech, and HSMC.More information and registration here.Source: AgriNovus Indiana SHARE Facebook Twitter By Hoosier Ag Today – Nov 9, 2018 last_img read more

first_img in Daily Dose, Featured, Headlines, Market Studies, News Nicole Casperson is the Associate Editor of DS News and MReport. She graduated from Texas Tech University where she received her M.A. in Mass Communications and her B.A. in Journalism. Casperson previously worked as a graduate teaching instructor at Texas Tech’s College of Media and Communications. Her thesis will be published by the International Communication Association this fall. To contact Casperson, e-mail: [email protected] Ask the Economist: Mark Fleming Talks Housing Servicers Navigate the Post-Pandemic World 2 days ago November 9, 2017 1,537 Views  Print This Post economic trends HOUSING mortgage 2017-11-09 Nicole Casperson Share Save The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribe Related Articles Editor’s note: This story was originally featured in the November issue of DS News, out now. As the Chief Economist for First American Financial Corporation, Mark Fleming leads an economics team responsible for analysis, commentary, and forecasting trends in the real estate and mortgage markets. As a trusted and influential voice with 20-years’ experience in the mortgage and property information business, Fleming is frequently quoted by national media outlets. For weekly analysis and research, follow him on Twitter at @mflemingecon.We’ve been spoiled with historically low mortgage interest rates. Where do you predict they will go? Not only have we recently enjoyed historically low rates, but also a general, long-run decline in rates since 1981. So, a generation of homebuyers has benefited from increased home-purchasing power over time. As for the future, improving economic conditions and the recent announcement by the Federal Open Market Committee (FOMC) that it will reduce the portfolio of bonds and mortgage-backed securities that it purchased under its quantitative easing policy are strong signals that rates will rise modestly over the coming year. In fact, mortgage rates increased in the week following the FOMC announcement of “quantitative uneasing.” Even if rates rose by another 2 percent to approximately 6 percent by the end of 2018, which is highly unlikely, rates would still only be where they were in 2008—a level that homebuyers had not seen since the mid-1960s. To use a technical economic term, rates that low still offer consumers historically pretty darn good home-purchasing power.What does this mean? How could it affect homebuyers, and in particular, first-time homebuyers?It is important to point out that if you are among the nearly two-thirds of U.S. households that already own homes, rate increases mean, really, nothing! That’s because the vast majority of existing homeowners either own their homes without a mortgage, or have a 30-year fixed-rate mortgage. Therefore, an increase in the mortgage rate will have no impact on the majority of existing owners. If you are contemplating buying a home, then things are a little less affordable than before. But, let’s be clear. It is true that purchasing power is lost and affordability declines as mortgage rates rise. However, given our expectation for an orderly and modest increase in rates over time, I think the most appropriate characterization of the market is homes are becoming less affordable but are not yet unaffordable by any reasonable historic standard.At what point would rising mortgage rates start to significantly dampen buyer demand? We actually surveyed real estate professionals this past spring and asked them what the mortgage rate would need to be before it would have a significant impact on homebuyer demand.  The answer—more than 5 percent. Most forecasts don’t expect mortgage rates to reach that level until 2019. How will mortgage rates influence inventory? That’s a good question! Most of the inventory of homes for sale is supplied by existing homeowners who mostly have existing mortgages. So, for existing homeowners, there is either a financial benefit or cost to selling their home and presumably becoming a homebuyer that depends on whether the mortgage rate on their existing mortgage when they sell their home is higher or lower than the mortgage rate on the home that is ultimately purchased. As mortgage rates have typically been declining since 1981, this dynamic has almost always been a financial benefit to existing homeowners—the mortgage rate on the home purchased is lower than the mortgage rate on the home that was sold. In a rising rate environment, the mortgage rate on the home purchased is higher than the mortgage rate on the home sold, which adds cost. The more rates rise and the larger one’s loan, the more costs increase. The rate locked-in cost will grow as rates rise and may prevent existing homeowners from listing their home and adding to the inventory of homes for sale. Housing inventory, or lack thereof, has been continuous in the housing market. What do you foresee in the next year for the inventory narrative?As I have described, the rate locked-in effect will only grow as rates rise, but what is more immediately pressing is the fear of not finding something to buy. According to our survey of real estate professionals this summer in our Real Estate Sentiment Index, we found that real estate professionals operating in short-supplied markets believe the main reason for a lack of supply is existing homeowners are not listing their homes for sale because they are worried that they will not be able to find something to buy. Existing homeowners face the dilemma of wanting to sell, but fear not finding something to buy. Add the increased cost from a growing-rate locked-in effect, and it’s fair to ask, “Are homeowners becoming prisoners in their own homes?” What else should those following the housing market look out for in the next year? Any wild cards? I see a pretty clear narrative for next year that really seems to be an extension of this year. Modestly rising rates, tight inventory in most markets, and, therefore, strong house-price appreciation.  The wild cards I believe would be from the macroeconomic or geopolitical stage. What often happens in other countries and financial markets can influence our mortgage rate outlook, and not always negatively. Who would ever have thought that Brexit would benefit the U.S. housing markets with a mortgage-rate deduction? Yet, that’s what happened. If the housing market outlook changes, my guess is that it will be because of something shocking our economy or financial markets. Previous: Exploring the State of Property Preservation Next: Identifying Housing Bubbles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Ask the Economist: Mark Fleming Talks Housing Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago About Author: Nicole Casperson Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: economic trends HOUSING mortgage The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more