Huffington Post: A Rental Society is not the Answer

The Irreplaceable Opportunity of Homeownership: A Rental Society Is Not the Answer

Some have recently suggested that in the wake of the housing foreclosure crisis, America should become a society whose housing is more centered on rental units than homeownership. A move in that direction would be a mistake.

One of the persistent and unfortunate myths of the housing crisis is that a push to expand homeownership was culpable for the housing crash. This is plainly and demonstrably false.

Read the entire report at HuffingtonPost/Business by clicking here.

Huffington Post: South Carolina ranks 8th in the top 15 states for female entrepreneurs

According to a report in the Huffington Post, South Carolina is the 8th best state in the nation for growth in women-owned businesses. 

According to the report, nationally women-owned businesses have grown at a rate 1.5 times faster than all businesses–50 percent since 1997.  In South Carolina, the growth rate for the same period was 63.6 percent.  There were 105,100 women-owned businesses in South Carolina in 2011. 

The number one state for women-owned businesses?: Georgia.  Eight of the top 15 states are in the South.  Read the report at by clicking here.

Huffington Post: Americans Buying Homes at the Fastest Pace in 2 Years

Americans bought new homes in May at the fastest pace in more than two years. The increase suggests a modest recovery in the housing market is continuing, despite weaker job growth.

The Commerce Department said Monday that sales of new homes increased 7.6 percent in May from April to a seasonally adjusted annual rate of 369,000 homes. That’s the best pace since April 2010, the last month that buyers could qualify for a federal home-buying tax credit.

Even with the gains, the annual sales pace is less than half the 700,000 that economists consider to be healthy.

Federal Reserve: Speculative Investors Played a Larger Role in Housing Bubble than Previously Thought

A new federal report shows that speculative real estate investors played a larger role than originally thought in driving the housing bubble that led to record foreclosures and sent economies plummeting in Nevada, California, Arizona, Florida and other states. Researchers with the Federal Reserve Bank of New York found that investors who used low-down-payment, subprime credit to purchase multiple residential properties helped inflate home prices and are largely to blame for the recession.