Sticking with residential real estate and the housing theme of the week.
“Builders are selling fewer cheap, starter homes, and more of what are called first- and second-move up homes, which are typically a little more expensive, and often bought by people with growing families and bigger space needs,” writes Wall Street Journal reporter Robbie Whelan.
CoreLogic reports foreclosure rates in Medford decreased in March compared to a year earlier.
The rate of Medford area foreclosures among outstanding mortgage loans was 3.77 percent in, a decrease of 0.61 percentage points from March 2012′s 4.38 percent rate.
However, foreclosure activity in Medford was higher than the national foreclosure rate, which was 2.84 percent for March 2013.
CoreLogic also noted Medford’s 6.45 percent delinquency rate on mortgage loans — 90 days or more — was down from 7.58 percent a year earlier.
Perhaps this story in the Boston Business Journal will temper over zealous investment in real estate.
If you’re driving to British Columbia, or even Bellingham, Wash., in the near future, take note.
Here is a useful discussion of inflation, as it plays out in Oregon, by economist Josh Lehner, who spoke at Thursday’s Economic Summit at the Craterian.
I track this thinking it gives a view of what our pump supply will look like in coming months. Perhaps I’m mistaken, but sustained declines can’t be good for motorists or the economy:
Baker Hughes Inc.’s Weekly Rig Count reports to its Investor Relations website. The number of U.S. rigs fell by seven to 1,762, with oil rigs down six to 1,402, gas rigs unchanged at 354, and miscellaneous rigs down one at six.
During the past year the rig count has fallen by 221 from 1,983. Oil rigs are up 19, and rigs down 240, and miscellaneous rigs unchanged. The U.S. Offshore rig count is 51, down one from last week, and up three year over year.