No Traction

CapitolFax is trying to figure out the story about Bill Brady’s homebuilding business legal troubles is not gaining any traction.  Here are some snippets from the story: State Sen. Bill Brady’s homebuilding business has been sued twice for defaulting on loans worth millions of dollars. Last year, Brady resolved a $1.7 million default case in […]

Pat Quinn 2014 State of the State: We Made a Comeback, Jobs are Being Created, Companies are Moving Here

In listening to Gov. Pat Quinn give the 2014 State of the State address today, it is clear he is as delusional as President Obama was last night in his State of the Union address.  He continually repeated the following themes: We’ve made a comeback Getting the job done Finish the job Equality and fairness […]

The Meyers Report: FOMC Confused

Last week’s Federal Open Market Committee (FOMC) Minutes show its members are completely confused over what they have done, what they are doing and what they plan to do. Pity the poor secretary who tried to resolve inconsistencies as members contradicted themselves. Other than the confusion over the Fed’s Minutes, there was no significant economic news this past week. This upcoming economic […]

The Meyers Report: Economic Notes

Commercial Real Estate Lending Lending rates continue to climb. Since April 29th, rates for multi-family lending continue to rise. HUD 223(f) and 221(d)4, now at 4.29% and 4.94%, respectively, are both up by 0.86%-age points Fannie Mae loans have risen even more, generally rising between 1.07%-age and 1.42%-age points. There appears to be little pressure […]

Meyers Report: Economic Notes

There wasn’t much in the way of significant economic news last week. What little there was turned out better than expected. Retail sales were reported to be up at almost a 7% annual rate in May. The gain helped to offset some previously very weak numbers. After the latest increase, retail sales are up at roughly a […]

Four Chicago Neighborhoods Named on List of 25 Most Dangerous

NeighborhoodScout, a real estate blog, has compiled FBI data from 17,000 local law enforcement agencies to rank America’s 25 most dangerous neighborhoods. Chicago has four neighborhoods on the list, tied with Detroit for the city with the most neighborhoods listed. Data was put into 20 formulas to compute the crime rate with an accuracy close to 90 percent, […]

The Meyers Report: Economic Notes

Vehicle sales in May (up 2.5% from April) were equal to the strong pace of the first quarter. Initial unemployment claims for May remained, in the vicinity of 350,000, which were little changed from the last three months. Rasmussen Consumer Confidence Index. The dip we saw a week ago Sunday continued pretty much for the […]

The Meyers Report: Low Interest Rates Going Away?

Investors, if you haven’t dumped your long-term bonds already, do it now. If you are refinancing a commercial loan or a home mortgage, do it now. If you are buying a home, do it now. If you are selling a home, take the deal you are being offered now and don’t haggle. Why? Interest rates […]

The Meyers Report: Economic Notes

Refinancing of SBA Loans Last September the SBA’s ability to provide refinance loans expired. This was a critical issue since so many banks were choosing to not renew loans, even if the loans were performing as agreed in their contracts. As a result, unnecessary pressure was being placed on small businesses even if they were […]

The Meyers Report: Economic Notes

Even though the stock market continues to rise, there are some signs that questions our economic growth. Freight Shipments Decline in April April freight shipment volumes were down by 3.3% from March of 2013, down 1.3% from April 2012 and down 1.2% from April 2011, according to the Cass Freight Index. Freight shipments are a […]