More Signs of Recovery
Wells Fargo sees signs of life in lending, but they are way ahead of their competition. Wells said it earned $394 million, or 8 cents per share, in the 4th quarter of '09, which surprised analysts who were expecting a loss of 1 cent per share. This is partly because Wells has already aggressively written down bad loans made before the downturn.
Banking analysts say that losses from failed loans historically peak six months after the end of a recession. That could mean lending will pick up again in the second quarter of this year.
Great news for Maui real estate buyers!
On the national real estate front, housing construction may be making a comeback as well. We have seen two consecutive months of growth in applications for new building permits. December saw an 11% increase to an annual rate of 653,000, a far stronger showing than economists had predicted.
If these economists would just get out of the way with their dire predictions, I think our economy could rebound even faster!
Banking analysts say that losses from failed loans historically peak six months after the end of a recession. That could mean lending will pick up again in the second quarter of this year.
Great news for Maui real estate buyers!
On the national real estate front, housing construction may be making a comeback as well. We have seen two consecutive months of growth in applications for new building permits. December saw an 11% increase to an annual rate of 653,000, a far stronger showing than economists had predicted.
If these economists would just get out of the way with their dire predictions, I think our economy could rebound even faster!
Labels: beach front real estate, Hawaii real estate, Makena Real Estate, Maui Meadows, maui real estate, maui realtor, property in Maui, vacation property in Maui, wailea real estate
posted by Gary Mooers at
10:03 AM
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