TALLAHASSEE, Fla. – Feb. 18, 2010 – Curious what a ballot would look like should Amendment 4 pass? A sample Orange City one has 47 pages and 488 referendums.
“We knew ballots would be ponderous should Amendment 4 pass, and have made that point many times to Realtors and Floridians,” says Florida Realtors Vice President of Public Policy John Sebree. “This sample ballot, however, is far worse than we imagined. It’s beyond the comprehension of most land use experts, much less the average Floridian.”
The sample ballot looked at a single election, Nov. 8, 2005, in Orange City, Fla., a town in Volusia County. Multiple questions deal with concurrency, water management and technical changes.
Citizens for Lower Taxes and a Stronger Economy Inc. developed the sample ballot for their website, “Vote No on 4.” Florida Realtors and a number of local Realtor associations support the anti-Amendment 4 movement, along with many other groups across the political spectrum.
To find out more about “Vote No on 4” and read the 47-page sample ballot, go to http://florida2010.org/home.php and click on the “Vote on Everything” icon.
© 2010 Florida Realtors®
Friday, February 19, 2010
Wednesday, February 17, 2010
Some Countrywide customers may get a check
TALLAHASSEE, Fla. – Feb. 16, 2010 – More than 2,700 people will receive checks from a 2008 settlement Florida negotiated with Countrywide Financial Corporation. As part of the settlement, Countrywide is offering foreclosure relief payments to eligible borrowers who returned valid and timely claim forms and releases under a program administered by the Countrywide settlement administrator.
More than $16.9 million will be distributed this week, and each check will be written for just over $6,000.
In July 2008, Attorney General Bill McCollum filed a lawsuit against Countrywide, one of the nation’s largest mortgage companies, for allegedly engaging in deceptive and unfair trade practices. The lawsuit claimed Countrywide put borrowers into mortgages they couldn’t afford or loans with rates and penalties that were misleading. That lawsuit was resolved in October 2008, and the settlement agreement included a foreclosure relief payment program for Florida homeowners with qualifying Countrywide mortgages.
Eligible homeowners should consider the following:
• Important information: The checks must be cashed on or before May 13, 2010.
• A payment under this settlement may be taxable, and recipients should consult a tax advisor if they have any questions concerning possible tax liabilities.
• Recipients with any questions should contact the settlement administrator, Rust Consulting, toll free at (866) 411‐6987, or http://www.countrywidesettlementinfo.com.
The settlement also includes $4 million to fund a foreclosure defense assistance program. The money will be provided to organizations over the course of two years, and the first funds were distributed in late 2009. The organizations that receive the grants agree to provide free legal assistance to eligible homeowners who face foreclosure but cannot afford an attorney to review their case.
“These resources, both the checks to homeowners and the grants to fund pro bono foreclosure defense assistance, are substantial assets to Floridians,” says Heather Rodriguez of Holland & Knight law firm and president of the Legal Aid Society of the Orange County Bar Association, one of the organizations that received grant funding and has an attorney dedicated to foreclosure defense assistance. “Orange and Osceola counties are both high in foreclosures, and homeowners are struggling.”
Countrywide Chief Executive Angelo Mozilo was also named in the Countrywide lawsuit and the civil case against him is still pending in Broward County Circuit Court. McCollum has also called on Bank of America, the company that acquired Countrywide after the lawsuit was filed, to be more responsive to consumers trying to modify loans and save their home from foreclosure.
© 2010 Florida Realtors®
More than $16.9 million will be distributed this week, and each check will be written for just over $6,000.
In July 2008, Attorney General Bill McCollum filed a lawsuit against Countrywide, one of the nation’s largest mortgage companies, for allegedly engaging in deceptive and unfair trade practices. The lawsuit claimed Countrywide put borrowers into mortgages they couldn’t afford or loans with rates and penalties that were misleading. That lawsuit was resolved in October 2008, and the settlement agreement included a foreclosure relief payment program for Florida homeowners with qualifying Countrywide mortgages.
Eligible homeowners should consider the following:
• Important information: The checks must be cashed on or before May 13, 2010.
• A payment under this settlement may be taxable, and recipients should consult a tax advisor if they have any questions concerning possible tax liabilities.
• Recipients with any questions should contact the settlement administrator, Rust Consulting, toll free at (866) 411‐6987, or http://www.countrywidesettlementinfo.com.
The settlement also includes $4 million to fund a foreclosure defense assistance program. The money will be provided to organizations over the course of two years, and the first funds were distributed in late 2009. The organizations that receive the grants agree to provide free legal assistance to eligible homeowners who face foreclosure but cannot afford an attorney to review their case.
“These resources, both the checks to homeowners and the grants to fund pro bono foreclosure defense assistance, are substantial assets to Floridians,” says Heather Rodriguez of Holland & Knight law firm and president of the Legal Aid Society of the Orange County Bar Association, one of the organizations that received grant funding and has an attorney dedicated to foreclosure defense assistance. “Orange and Osceola counties are both high in foreclosures, and homeowners are struggling.”
Countrywide Chief Executive Angelo Mozilo was also named in the Countrywide lawsuit and the civil case against him is still pending in Broward County Circuit Court. McCollum has also called on Bank of America, the company that acquired Countrywide after the lawsuit was filed, to be more responsive to consumers trying to modify loans and save their home from foreclosure.
© 2010 Florida Realtors®
Friday, February 12, 2010
Walkaway rather than foreclosure?
NEW YORK – Feb. 11, 2010 – Seeking alternatives to the nation’s struggling foreclosure prevention efforts, federal and mortgage industry officials increasingly are looking for ways to get distressed borrowers to leave their homes voluntarily, without going through the expensive foreclosure process or a messy eviction.
Citigroup, for instance, plans to announce a pilot program on Thursday that would allow delinquent borrowers who don’t qualify for or decline mortgage relief the opportunity to stay in their homes without making payments for up to six months before turning over the keys, in return for keeping the property in good condition. The bank estimates that up to 20,000 borrowers in Texas, Florida, Illinois, Michigan, New Jersey and Ohio could be eligible.
The program is just the latest amid a growing acknowledgment that foreclosure prevention efforts will fail to reach millions of borrowers over the next few years.
“This is a graceful way to move on with their lives instead of being foreclosed on and being evicted from their homes,” said Sanjiv Das, chief executive of CitiMortgage.
The Citigroup plan attempts to address some common industry complaints, including borrowers who leave their homes in disarray after foreclosure, requiring lenders to spend thousands of dollars fixing up the property before putting it on the market. Also, homeowners who owe far more than their homes are worth increasingly are choosing to “strategically default,” even though they can afford to pay their mortgage. The new program gives CitiMortgage more control over when distressed homes are put up for sale, bypassing clogged courthouses that have slowed the foreclosure process in many parts of the country.
By avoiding a glut of foreclosures that could hit the housing market within the next 16 to 18 months, the program – if it is replicated throughout the industry – could help prevent another dip in home prices, Das said.
It would be a more orderly process “than if all of the foreclosed properties came crashing at some point in the cycle,” he said.
Other initiatives have also emerged for borrowers likely to lose their homes. Fannie Mae and Freddie Mac, the mortgage financing companies, developed programs allowing former homeowners to become renters after a foreclosure or other proceedings. As part of its federal foreclosure prevention program, known as Making Home Affordable, the Treasury Department announced late last year that lenders would be eligible for $1,000 in exchange for allowing borrowers to sell their home in a short sale. In such deals, the borrower sells the home for less than the outstanding mortgage, and the lender forgives the difference.
Moody’s Economy.com has forecast that the number of short sales and transactions in which borrowers surrender their deed in lieu of foreclosure will increase more than 50 percent, to about 490,000, this year. That is just a fraction of the 1.9 million homeowners Moody’s has forecast will lose their homes to foreclosure this year, up from 1.7 million last year.
But lenders have struggled to make many of these programs effective. The short sale is often lengthy and cumbersome for homeowners. In some cases, borrowers have second liens on the property, which can hang up the process. And lenders are sometimes suspicious of the potential for fraud if the home is sold cheap to a friend or family member of the borrower.
It’s unclear how rental programs for former homeowners are working. Fannie Mae launched its “Deed for Lease” program in November, offering borrowers a 12-month lease in return for turning over the keys to their former home and maintaining the property. A company spokeswoman said that it was too early to judge the program’s success, but that former homeowners who surrender their deed to avoid foreclosure – numbering nearly 2,000 through the third quarter of last year – would be eligible. Freddie Mac’s year-old program targets former homeowners after their foreclosure, offering them a month-to-month lease. It has not released specific data on how many homeowners have chosen this option.
Citigroup’s program goes further. It targets delinquent homeowners who do not qualify for mortgage relief. During the time the borrower is still in the home, they must continue to pay utilities, but in some cases, the bank may help cover some of the taxes, insurance or homeowner association fees. The borrower would also be eligible for transition counseling to help find a new home, and a minimum of $1,000 to help offset moving costs.
If there is significant demand for the program, Citigroup will expand it, Das said. “There might be complications that we haven’t thought about,” he said. “What happens if they don’t turn over the keys after six months or they don’t maintain their house like we would like them to maintain their house?”
Copyright © 2010 washingtonpost.com
Citigroup, for instance, plans to announce a pilot program on Thursday that would allow delinquent borrowers who don’t qualify for or decline mortgage relief the opportunity to stay in their homes without making payments for up to six months before turning over the keys, in return for keeping the property in good condition. The bank estimates that up to 20,000 borrowers in Texas, Florida, Illinois, Michigan, New Jersey and Ohio could be eligible.
The program is just the latest amid a growing acknowledgment that foreclosure prevention efforts will fail to reach millions of borrowers over the next few years.
“This is a graceful way to move on with their lives instead of being foreclosed on and being evicted from their homes,” said Sanjiv Das, chief executive of CitiMortgage.
The Citigroup plan attempts to address some common industry complaints, including borrowers who leave their homes in disarray after foreclosure, requiring lenders to spend thousands of dollars fixing up the property before putting it on the market. Also, homeowners who owe far more than their homes are worth increasingly are choosing to “strategically default,” even though they can afford to pay their mortgage. The new program gives CitiMortgage more control over when distressed homes are put up for sale, bypassing clogged courthouses that have slowed the foreclosure process in many parts of the country.
By avoiding a glut of foreclosures that could hit the housing market within the next 16 to 18 months, the program – if it is replicated throughout the industry – could help prevent another dip in home prices, Das said.
It would be a more orderly process “than if all of the foreclosed properties came crashing at some point in the cycle,” he said.
Other initiatives have also emerged for borrowers likely to lose their homes. Fannie Mae and Freddie Mac, the mortgage financing companies, developed programs allowing former homeowners to become renters after a foreclosure or other proceedings. As part of its federal foreclosure prevention program, known as Making Home Affordable, the Treasury Department announced late last year that lenders would be eligible for $1,000 in exchange for allowing borrowers to sell their home in a short sale. In such deals, the borrower sells the home for less than the outstanding mortgage, and the lender forgives the difference.
Moody’s Economy.com has forecast that the number of short sales and transactions in which borrowers surrender their deed in lieu of foreclosure will increase more than 50 percent, to about 490,000, this year. That is just a fraction of the 1.9 million homeowners Moody’s has forecast will lose their homes to foreclosure this year, up from 1.7 million last year.
But lenders have struggled to make many of these programs effective. The short sale is often lengthy and cumbersome for homeowners. In some cases, borrowers have second liens on the property, which can hang up the process. And lenders are sometimes suspicious of the potential for fraud if the home is sold cheap to a friend or family member of the borrower.
It’s unclear how rental programs for former homeowners are working. Fannie Mae launched its “Deed for Lease” program in November, offering borrowers a 12-month lease in return for turning over the keys to their former home and maintaining the property. A company spokeswoman said that it was too early to judge the program’s success, but that former homeowners who surrender their deed to avoid foreclosure – numbering nearly 2,000 through the third quarter of last year – would be eligible. Freddie Mac’s year-old program targets former homeowners after their foreclosure, offering them a month-to-month lease. It has not released specific data on how many homeowners have chosen this option.
Citigroup’s program goes further. It targets delinquent homeowners who do not qualify for mortgage relief. During the time the borrower is still in the home, they must continue to pay utilities, but in some cases, the bank may help cover some of the taxes, insurance or homeowner association fees. The borrower would also be eligible for transition counseling to help find a new home, and a minimum of $1,000 to help offset moving costs.
If there is significant demand for the program, Citigroup will expand it, Das said. “There might be complications that we haven’t thought about,” he said. “What happens if they don’t turn over the keys after six months or they don’t maintain their house like we would like them to maintain their house?”
Copyright © 2010 washingtonpost.com
Tuesday, February 9, 2010
Great time to sell your home
ORLANDO, Fla. ? Feb. 9, 2010 ? Selling a property in this tough market can seem like a challenge. Here are four factors that actually make this a good time to post a For-Sale sign:
? Sell low and buy low. Because all property values are down, the loss on the property a homeowner sells is really only a paper loss because the next property he buys also will be a bargain. If he buys smartly, when prices come back up in a few years, he?ll be in better shape.
? Downpayment help is widely available. While nothing-down loans have disappeared, it?s easy to find downpayment assistance for lower-income and first-time homebuyers. Programs vary all over the country, but one good way to find them is to search online for ?downpayment assistance programs? and the name of your region.
? Your Uncle Sam has money to share. Besides the $8,000 first-time homebuyer tax credit and the $6,500 move-up credit, there are an array of energy tax credits that can make home improvements pay off in cash.
? Good help is available. Really talented real estate practitioners, contractors and designers are available and eager for business.
Source: McClatchy Tribune, Kate Forgach (02/07/2010)
? Copyright 2010 INFORMATION, INC. Bethesda, MD (301) 215-4688
? Sell low and buy low. Because all property values are down, the loss on the property a homeowner sells is really only a paper loss because the next property he buys also will be a bargain. If he buys smartly, when prices come back up in a few years, he?ll be in better shape.
? Downpayment help is widely available. While nothing-down loans have disappeared, it?s easy to find downpayment assistance for lower-income and first-time homebuyers. Programs vary all over the country, but one good way to find them is to search online for ?downpayment assistance programs? and the name of your region.
? Your Uncle Sam has money to share. Besides the $8,000 first-time homebuyer tax credit and the $6,500 move-up credit, there are an array of energy tax credits that can make home improvements pay off in cash.
? Good help is available. Really talented real estate practitioners, contractors and designers are available and eager for business.
Source: McClatchy Tribune, Kate Forgach (02/07/2010)
? Copyright 2010 INFORMATION, INC. Bethesda, MD (301) 215-4688
Monday, February 8, 2010
What your credit score means to you when buying a home.
DETROIT ? Feb. 5, 2010 ? Lucas Harrison-Zdenek has tried twice since last summer to get a federal loan to buy a foreclosed home.
His credit score hasn?t been good enough. It was 575 last fall when it needed to be 580, and is now 606 when it needs to be 620. He was denied again earlier this month.
The Ferndale, Mich., massage therapist is hopeful that an update to his credit report to reflect some recently paid debts will push his score up to 620. He?s aiming for a mortgage on a four-bedroom, 1 1/2-bath house in Ferndale that?s priced at $70,000.
A Jan. 1 change in federal lending guidelines has made it harder for people to benefit from Neighborhood Stabilization Programs, which help lower-income buyers purchase foreclosed homes. The rules pushed the minimum credit score to 620 for an FHA loan.
?Every time we get denied, I feel like we are closer to getting approved,? said Harrison-Zdenek, 25.
He?s now renting a house in Berkley for his wife, Genevieve, and 3-month-old son, Lincoln.
Harrison-Zdenek?s experience is pretty common for people who are at or below 50 percent of the local median income, or $31,450, for a family of three.
The programs include mandatory homeowner counseling classes and applicants must be able to qualify for a mortgage. And 25 percent of the federal grant money must go toward helping those at 50 percent of the median local income buy homes.
Officials administering the program say it has been a big challenge to find families who qualify in the low-income category and have the necessary 620 or higher credit score and 24 months of income history. Additionally, the Oakland County, Mich., program doesn?t allow people with a foreclosure or bankruptcy in the past three years to participate.
?It is brutal. It means that they don?t get the house,? said Gordon Lambert, chief of operations for Oakland County?s community and home improvement division. ?This credit crunch is really, really impacting the whole community.?
Marsha Scheer, who coordinates the Neighborhood Stabilization Program for Ferndale, said the city has closed on homes sold to five low-income buyers so far. The city hopes to help 25 to 30 families buy homes in the community.
Ferndale contracted with Home Renewal Systems to implement its program. Home Renewal handles everything from getting potential buyers qualified, finding homes, rehabilitation work and closing on the mortgage.
Cathy Doig, marketing director for the company, said federal lending guidelines have made it harder to get people in homes.
She said that people with lower incomes sometimes have low credit scores because of damaged credit. More often, though, applicants are ineligible because they haven?t established credit. These are people who do not use credit cards or make installment payments on vehicles, but they pay their bills on time.
?In order to have a high credit score in this country, you have to use credit,? Doig said.
She said the company?s staff works with these potential homeowners on getting their credit scores up, but that can take months.
Harrison-Zdenek is hopeful that he will qualify for a mortgage before the minimum credit score is raised again.
?If (the loan officer) didn?t feel Genna and I were worthy of homeownership, they wouldn?t try so hard,? Harrison-Zdenek said.
Copyright ? 2010 Detroit Free Press. Distributed by McClatchy-Tribune News Service, Greta Guest.
His credit score hasn?t been good enough. It was 575 last fall when it needed to be 580, and is now 606 when it needs to be 620. He was denied again earlier this month.
The Ferndale, Mich., massage therapist is hopeful that an update to his credit report to reflect some recently paid debts will push his score up to 620. He?s aiming for a mortgage on a four-bedroom, 1 1/2-bath house in Ferndale that?s priced at $70,000.
A Jan. 1 change in federal lending guidelines has made it harder for people to benefit from Neighborhood Stabilization Programs, which help lower-income buyers purchase foreclosed homes. The rules pushed the minimum credit score to 620 for an FHA loan.
?Every time we get denied, I feel like we are closer to getting approved,? said Harrison-Zdenek, 25.
He?s now renting a house in Berkley for his wife, Genevieve, and 3-month-old son, Lincoln.
Harrison-Zdenek?s experience is pretty common for people who are at or below 50 percent of the local median income, or $31,450, for a family of three.
The programs include mandatory homeowner counseling classes and applicants must be able to qualify for a mortgage. And 25 percent of the federal grant money must go toward helping those at 50 percent of the median local income buy homes.
Officials administering the program say it has been a big challenge to find families who qualify in the low-income category and have the necessary 620 or higher credit score and 24 months of income history. Additionally, the Oakland County, Mich., program doesn?t allow people with a foreclosure or bankruptcy in the past three years to participate.
?It is brutal. It means that they don?t get the house,? said Gordon Lambert, chief of operations for Oakland County?s community and home improvement division. ?This credit crunch is really, really impacting the whole community.?
Marsha Scheer, who coordinates the Neighborhood Stabilization Program for Ferndale, said the city has closed on homes sold to five low-income buyers so far. The city hopes to help 25 to 30 families buy homes in the community.
Ferndale contracted with Home Renewal Systems to implement its program. Home Renewal handles everything from getting potential buyers qualified, finding homes, rehabilitation work and closing on the mortgage.
Cathy Doig, marketing director for the company, said federal lending guidelines have made it harder to get people in homes.
She said that people with lower incomes sometimes have low credit scores because of damaged credit. More often, though, applicants are ineligible because they haven?t established credit. These are people who do not use credit cards or make installment payments on vehicles, but they pay their bills on time.
?In order to have a high credit score in this country, you have to use credit,? Doig said.
She said the company?s staff works with these potential homeowners on getting their credit scores up, but that can take months.
Harrison-Zdenek is hopeful that he will qualify for a mortgage before the minimum credit score is raised again.
?If (the loan officer) didn?t feel Genna and I were worthy of homeownership, they wouldn?t try so hard,? Harrison-Zdenek said.
Copyright ? 2010 Detroit Free Press. Distributed by McClatchy-Tribune News Service, Greta Guest.
Tuesday, February 2, 2010
Fannie to offer closing cost aid on foreclosures
WASHINGTON ? Feb. 1, 2010 ? Fannie Mae, the largest provider of residential home funding in the United States, announced on Friday that it would start to pay closing costs for buyers of foreclosed homes in its inventory. Buyers of qualified properties will get up to 3.5 percent in closing costs or an equivalent amount for the purchase of new appliances.
Fannie wants to clear out the nearly 50,000 properties it has in inventory ? listed on HomePath.com, the Web site created by Fannie Mae last year to sell the growing number of foreclosed homes. The offer is available to any owner-occupant who closes on the purchase of a property listed on HomePath.com before May 1, 2010. Applicable properties can be found on HomePath.com, along with property descriptions, photographs, community and school information, and more.
In addition, some Fannie Mae-owned properties are eligible for special HomePath Mortgage and HomePath Renovation Mortgage financing, which offers qualified homebuyers the ability to purchase with as little as 3 percent down.
?Attracting qualified buyers to the market and reducing inventory of vacant homes is critical to stabilizing neighborhoods and helping the market recover,? Terry Edwards, executive vice president for credit portfolio management, said in a statement.
? 2010 Florida Realtors?
Fannie wants to clear out the nearly 50,000 properties it has in inventory ? listed on HomePath.com, the Web site created by Fannie Mae last year to sell the growing number of foreclosed homes. The offer is available to any owner-occupant who closes on the purchase of a property listed on HomePath.com before May 1, 2010. Applicable properties can be found on HomePath.com, along with property descriptions, photographs, community and school information, and more.
In addition, some Fannie Mae-owned properties are eligible for special HomePath Mortgage and HomePath Renovation Mortgage financing, which offers qualified homebuyers the ability to purchase with as little as 3 percent down.
?Attracting qualified buyers to the market and reducing inventory of vacant homes is critical to stabilizing neighborhoods and helping the market recover,? Terry Edwards, executive vice president for credit portfolio management, said in a statement.
? 2010 Florida Realtors?
Monday, February 1, 2010
Consumer Confidence Index Increases Moderately in January 2010
RISMEDIA, February 1, 2010?The Conference Board Consumer Confidence Index, which had increased in December 2009, improved further in January 2010. The Index now stands at 55.9 (1985=100), up from 53.6 in December. The Present Situation Index increased to 25.0 from 20.2. The Expectations Index increased to 76.5 from 75.9 last month.
The Consumer Confidence Survey is based on a representative sample of 5,000 U.S. households. The monthly survey is conducted for The Conference Board by TNS. TNS is one of the world?s largest custom research companies. The cutoff date for January?s preliminary results was January 19th.
?Consumer Confidence rose for the third consecutive month, primarily the result of an improvement in present-day conditions. Consumers? short-term outlook, while moderately more positive, does not suggest any significant pickup in activity in the coming months. Regarding their financial situation, while consumers were less dire about their income prospects than in December, the number of pessimists continues to outnumber the optimists,? said Lynn Franco, director of The Conference Board Consumer Research Center.
Consumers? assessment of present-day conditions was, on the whole, more positive than last month. Those stating business conditions are ?good? increased to 9.0% from 7.5%, however, those stating business conditions are ?bad? increased to 46.1% from 45.7%. Consumers? assessment of the labor market improved moderately. Those claiming jobs are ?hard to get? declined to 47.4% from 48.1%, while those claiming jobs are ?plentiful? increased to 4.3% from 3.1%.
Consumers? short-term outlook, while overall more positive, was somewhat mixed. The percentage of consumers expecting an improvement in business conditions over the next six months decreased to 20.9% from 21.2%, while those anticipating conditions will worsen increased to 12.7% from 11.8%. Regarding the outlook for the labor market, those expecting fewer jobs decreased to 18.9% from 20.6%. However, those expecting more jobs to become available in the months ahead declined to 15.5% from 16.4%. The proportion of consumers anticipating a decrease in their incomes declined to 16.2% from 18.4%.
For more information, visit www.conference-board.org.
The Consumer Confidence Survey is based on a representative sample of 5,000 U.S. households. The monthly survey is conducted for The Conference Board by TNS. TNS is one of the world?s largest custom research companies. The cutoff date for January?s preliminary results was January 19th.
?Consumer Confidence rose for the third consecutive month, primarily the result of an improvement in present-day conditions. Consumers? short-term outlook, while moderately more positive, does not suggest any significant pickup in activity in the coming months. Regarding their financial situation, while consumers were less dire about their income prospects than in December, the number of pessimists continues to outnumber the optimists,? said Lynn Franco, director of The Conference Board Consumer Research Center.
Consumers? assessment of present-day conditions was, on the whole, more positive than last month. Those stating business conditions are ?good? increased to 9.0% from 7.5%, however, those stating business conditions are ?bad? increased to 46.1% from 45.7%. Consumers? assessment of the labor market improved moderately. Those claiming jobs are ?hard to get? declined to 47.4% from 48.1%, while those claiming jobs are ?plentiful? increased to 4.3% from 3.1%.
Consumers? short-term outlook, while overall more positive, was somewhat mixed. The percentage of consumers expecting an improvement in business conditions over the next six months decreased to 20.9% from 21.2%, while those anticipating conditions will worsen increased to 12.7% from 11.8%. Regarding the outlook for the labor market, those expecting fewer jobs decreased to 18.9% from 20.6%. However, those expecting more jobs to become available in the months ahead declined to 15.5% from 16.4%. The proportion of consumers anticipating a decrease in their incomes declined to 16.2% from 18.4%.
For more information, visit www.conference-board.org.
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