In our last video report, we took a look at how Wall Street experts and people on Main Street fared in 2014 when it came to predicting what was going to happen to the stock market, oil prices, and housing prices. In this report, let's see what the experts and a few people on the street think will happen to Long Island NY housing, oil and the stock market, in 2015…
Are you one of the many people who set New Year's resolutions each year, only to find that you've strayed away from that goal by the end of January?
If you've resolved to setting a budget this year, here are three things you MUST do in order to achieve your budget goals for the year…
We have more tips and articles for you when it comes to setting a budget and coping with the Long Island NY Economy by looking at that section under the Long Island NY Real Estate Categories to your right.
And don't forget, we also post tips daily on Twitter and Facebook, sometimes pertaining to setting a budget, the Long Island NY economy, or the economy in general. Find us there as well.
As the year is winding down, some December deals are starting to heat up. But not everything is a bargain. Some things you should definitely avoid buying in December, and some things, depending on when you buy during the month, can be a real bargain…
We have more tips for you at the link to your right under Long Island NY Real Estate Categories. And don't forget, Follow us on Twitter and Like us on Facebook!
With Christmas now just a few days away, chances are you still have gifts to buy. But what are the best gifts for those people on your holiday list who say they have everything?
With a growing labor market and suffering housing sector, the Long Island NY economy seems to mirror the national economic news.
The labor market in the U.S. is constantly improving with jobless claims remaining below 300,000. Consumers are also more eager to spend as retail sales were up 0.6 percent in August. Motor vehicles sales went up by 1.5 percent, as well as sales of building materials and garden equipment. Growth in sales of building materials may be an indicator of some improvement in the housing market.
Nationally, the housing market has a lot of room for improvement. New home starts fell by 14.4 percent and existing home sales declined by 1.8 percent in August and 5.3 percent year-over-year.
Long Island NY Economy
Similar to other parts of the country, the Long Island NY economy shows some signs of growth with 4,000 private-sector jobs added in August. The typical gain for our local market is 500 jobs. The retail sector is also doing great with 1,500 jobs added, compared to the typical increase of 300 jobs.
Rents for retail spaces on Long Island has been on the rise for eight consecutive quarters. Vacancy rates amount to 5 percent which is lower than the Northeast Census Region (8.6 percent) and nationally (9.6 percent). All of this may be an indicator of a strong holiday season.
However, housing numbers don’t look too good for our local real estate market. Just as in other parts of the country, home sales in August declined by 15 percent year-over-year, from 1,346 units to 1,144 units in Nassau County. In Suffolk County home prices fell by 10.5 percent which is a drop from 1,358 to 1,215 units. A year-over-year comparison will become less optimistic in the upcoming months since home sales grew rapidly in both Nassau and Suffolk counties last fall.
For more updates on Long Island NY economy, check back often and follow Best Buyer’s Broker Realty on Facebook!
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