STATE OF FLORIDA FINANCES
Florida’s shaky financial outlook took a turn for the worse Monday when state economists knocked nearly $1 billion out of their two-year revenue estimate. They blamed the slump in home sales for the drop.
You might be asking how home sales are to blame for the drop in the revenue estimate – documentary stamps on deeds, intangible tax and documentary stamps on the face value of a mortgage, sales tax collected on furniture and other home/condo furnishings – just to name a few.
SUBPRIME MORTGAGES
A Treasury Department official said yesterday that troubles in the subprime mortgage industry remain manageable, and that they won’t impact other economic sectors.
HOME TRENDS
By the end of the decade, 33 percent of Americans will be in the 50-and-up age segment; but a growing number of baby boomers already are considering accessibility when purchasing a new home, and looking for universal design features such as wider entryways, lower cabinets and raised toilets.
HOME IMPROVEMENTS
How long will a home improvement actually remain an improvement? How long do new wood floors last? New stoves? A new countertop? NAHB conducted a study that tries to determine the lifespan of home components.