Kenya Airways Limited (KA.ug) 2018 Abridged Report

first_imgKenya Airways Limited (KA.ug) listed on the Uganda Securities Exchange under the Transport sector has released it’s 2018 abridged results.For more information about Kenya Airways Limited (KA.ug) reports, abridged reports, interim earnings results and earnings presentations, visit the Kenya Airways Limited (KA.ug) company page on AfricanFinancials.Document: Kenya Airways Limited (KA.ug)  2018 abridged results.Company ProfileKenya Airways Limited is the flag carrier airline of Kenya. It was wholly-owned by the government of Kenya until 1995 when the airline was privatised. Kenya Airways is now a public-private partnership with the largest shareholder being the government of Kenya (48.9%) and the balance owned by KQ Lenders Company 2017 Ltd (38.1%), KLM (7.8%) and private owners (5.2%). Kenya Airways offers domestic and international flights, ground handling services and handles import and export of cargo. Subsidiary companies of Kenya Airways include JamboJet Limited which provides local passenger air transport services, and African Cargo Handling Limited which provides cargo handling services. Kenya Airways Limited is listed on the Uganda Securities Exchangelast_img read more

Learn more about Joe Simpson

first_imgJoe Simpson is actually from SydneyThe greatest city I’ve been to is Sydney. I was born there and enjoy going back. I love the people and the food, and the weather’s not bad, too! My greatest opponent was Luke McAlister. My first Premiership start was against Sale and he ripped us apart. He’s got everything – great hands, a kicking game, and he’s a good tackler too. LATEST RUGBY WORLD MAGAZINE SUBSCRIPTION DEALSlast_img

Melbourne Rebels confirm their 2012 Super Rugby Squad

first_img“Overall we are pleased with our list for 2012, we believe we have recruited well and have a solid platform to build on.”2012 Core Playing Squad (alphabetical order)1. Paul Alo-Emile *2. Kurtley Beale *3. Rodney Blake4. Adam Byrnes5. Alister Campbell6. Danny Cipriani7. Tom Chamberlain8. Tim Davidson9. Gareth Delve10. Adam Freier11. Mark Gerrard12. Nic Henderson13. James Hilgendorf14. Julian Huxley15. Mitch Inman *16. Lloyd Johansson *17. Luke Jones18. James King *19. Richard Kingi20. Michael Lipman21. Lachlan Mitchell22. Stirling Mortlock23. James O’Connor *24. Nick Phipps25. Hugh Pyle26. Ged Robinson27. Jarrod Saffy28. Heath Tessmann29. Cooper Vuna30. Laurie Weeks Melbourne Rebels confirm their 2012 Super Rugby SquadRaboDirect Rebels Head Coach Damien Hill said that today that he was looking forward to guiding the new squad into the 2012 Super Rugby season.“Our aim is to continue to build a list that is competitive for this season and the years to follow.“Kurtley Beale and James O’Connor are two of the games most exciting young talents. Their decision to sign with the Rebels reaffirms that Melbourne and the club, has a Rugby Union program that is attractive to players of this calibre.“We also see new additions Paul Alo-Emile, Mitch Inman and James King as players for the future, while strong running Centre Lloyd Johansson is our first Victorian born Rebel. Lloyd brings with him Super Rugby and Wallaby experience, and we hope that Lloyd will forge a path for future Victorian born Rebels.“Our EPS signings also give us a solid mix of youth and experience. Isaiah Mosese, Nick Stirzaker and Cadeyrn Neville are all under 22 years of age, while Luke Holmes and Eddie Aholelei are ready made tight 5 players. LATEST RUGBY WORLD MAGAZINE SUBSCRIPTION DEALScenter_img 2012 Extended Playing Squad (EPS)1. Eddie Aholelei *2. Luke Holmes3. Isaiah Mosese *4. Cadeyrn Neville *5. Nick Stirzaker **denotes new signinglast_img read more

TEFL: The Latest Money-making Craze

first_imgShare on Facebook Tweet on Twitter Save my name, email, and website in this browser for the next time I comment. The Anatomy of Fear LEAVE A REPLY Cancel reply Please enter your comment! TEFL: Teaching English as a Foreign LanguageBy Kevin CollinsDid you know Florida is home to more than 10% of the foreign-born population in the US?Learning English as a foreign language is already an important part of living in Florida for many who come here from another country. So, if you’re looking for a career change or a chance to earn a few extra dollars, consider teaching English as a Foreign Language as a great option.Teaching English as a Foreign Language – or TEFL as it is more commonly known – is currently taking the world by storm. It’s not really surprising, considering the unusual period we’re in right now. Spending so much time at home has shown us that we should be doing more of the things we love, and not so much the things we feel we “should be doing”, while at the same time giving us the means and flexibility needed to pursue those life-enhancing interests we’ve been considering for so long.In order to become a TEFL teacher you don’t need a teaching degree or teaching experience. What you do need is a 120-hour TEFL certificate from an internationally-recognized and accredited TEFL course provider. The course will teach you everything you need to know about theories of learning, teaching techniques, classroom management, English grammar, assessment – and so much more.Because the course is online, now is the perfect time for you to dedicate your time to upskilling yourself. And if you’re nervous about online learning, don’t be; every good TEFL course will have a team of professional TEFL teachers available to answer all your TEFL-related questions and to help you through the course. Once you have that TEFL certificate in your hand, you’re free to find the job of your dreams.Of course, a major reason TEFL is so popular is for the travel opportunities it allows, but for the moment you could choose to teach English online or even teach locally. This way, you will be gaining valuable experience while earning some cash, and it will give you the time you need to decide where you want to go when more travel options open up again.To help you decide if this is the fit for you, head on over to The TEFL Academy’s website and download the World Factbook 2021 to get all the inside info on over 100 countries where you can teach English as a Foreign Language. With data on average teaching salaries, to cost of living, to travel recommendations and the weather, this is the only research you’ll need before booking your ticket to Cairo, Cartagena or Cebu. You have entered an incorrect email address! Please enter your email address herecenter_img Please enter your name here Paris, France photo by www.atikh.com and www.khayriyyah.com Support conservation and fish with NEW Florida specialty license plate TAGSAccreditedBusinessCertificationCourseJobTeachingTeaching English as a Foreign LanguageTEFLtravel Previous articleOrange Co. extends rapid COVID testing, emergency rental assistanceNext articleApopka Burglary Report Denise Connell RELATED ARTICLESMORE FROM AUTHOR Free webinar for job seekers on best interview answers, hosted by Goodwill June 11 last_img read more

Administration, Publicity and Fundraising (Ideas Library)

first_img About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.  48 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Administration, Publicity and Fundraising (Ideas Library) Howard Lake | 26 October 2007 | News AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThislast_img read more

WSPA Director of International Marketing to join UNHCR

first_img Howard Lake | 19 February 2009 | News WSPA Director of International Marketing to join UNHCR AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis  38 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Amanda Seller is moving on from her position as Director of International Marketing at the World Society for Protection of Animals (WSPA), to join the Office of the UN High Commissioner for Refugees (UNHCR) as their Head, Private Sector Fundraising Service in April.Seller has worked for six years at WSPA where she has helped increase global fundraising income from US$12 million to over $60 million and supported the development of WSPA as a respected global brand. She has also played a lead role in the creation of a new global strategic direction for WSPA.www.wspa.org.uk Tagged with: Management Recruitment / people About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.last_img read more

Flintridge Sacred Heart Academy Celebrates Veritas Week with Dominican Liturgy

first_imgEducation Flintridge Sacred Heart Academy Celebrates Veritas Week with Dominican Liturgy Article and Photos courtesy of FLINTRIDGE SACRED HEART ACADEMY Published on Monday, October 7, 2013 | 5:12 pm faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,PCC – EducationVirtual Schools PasadenaDarrell Done EducationHomes Solve Community/Gov/Pub SafetyPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Name (required)  Mail (required) (not be published)  Website  First Heatwave Expected Next Week Subscribe Make a comment Top of the News Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadena 4 recommended0 commentsShareShareTweetSharePin it Your email address will not be published. Required fields are marked *center_img More Cool Stuff Community News HerbeautyPretty Or Not: 5 Things You Didn’t Know About BeautyHerbeautyHerbeautyHerbeautyEverything You Need To Know About This Two-Hour ProcedureHerbeautyHerbeautyHerbeautyShort On Time? 10-Minute Workouts Are Just What You NeedHerbeautyHerbeautyHerbeautyIs It Bad To Give Your Boyfriend An Ultimatum?HerbeautyHerbeautyHerbeautyTiger Woods Is ‘Different Man’ 10 Years After ScandalHerbeautyHerbeautyHerbeauty15 Beauty Secrets Only Indian Women KnowHerbeautyHerbeauty On Wednesday, October 2, students and faculty at Flintridge Sacred Heart Academy gathered together for their first liturgy of the school year. Bishop Gerald E. Wilkerson , along with Deacon Bob Seidler, presided over the service. During Bishop Wilkerson’s homily, he encouraged the students to “know [their] goodness,” and to “allow goodness to flow out of [them].” After the liturgy, three of the student campus ministers, Brikk Bralley, Claire Sigler and Katherine Laco, shared their experiences from the Dominican Preaching Conference they attended over the summer in Michigan. Some of the many lessons they took back with them included the idea of LULO, “Look Up, Look Out,” instead of the popular slogan YOLO (“You Only Live Once”). As Brikk explained, ”One of the awesome speakers at the conference, Michael Petro, challenged us to look up to God for guidance in our lives while also reaching out to the needs of our world.”The liturgy was part of Veritas Week, a week that celebrates the Dominican heritage of FSHA. [Optional: Other events throughout the week included a daily morning reflection and a bake sale, whose proceeds went to Father Tom’s Kids, a Dominican charity that supports education in Kenya. There was also a free dress day for students who paid $1 for the opportunity (proceeds also going to Father Tom’s Kids).For more information, visit www.fsha.org. Business News Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Community News EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday last_img read more

Huntington Medical Research Institutes Appoints Dr. Kevin King Director of Advanced Imaging Research Program

first_img Community News 2 recommended0 commentsShareShareTweetSharePin it Get our daily Pasadena newspaper in your email box. Free.Get all the latest Pasadena news, more than 10 fresh stories daily, 7 days a week at 7 a.m. EVENTS & ENTERTAINMENT | FOOD & DRINK | THE ARTS | REAL ESTATE | HOME & GARDEN | WELLNESS | SOCIAL SCENE | GETAWAYS | PARENTS & KIDS Top of the News People Huntington Medical Research Institutes Appoints Dr. Kevin King Director of Advanced Imaging Research Program From STAFF REPORTS Published on Wednesday, August 17, 2016 | 11:47 am faithfernandez More » ShareTweetShare on Google+Pin on PinterestSend with WhatsApp,Virtual Schools PasadenaHomes Solve Community/Gov/Pub SafetyCitizen Service CenterPASADENA EVENTS & ACTIVITIES CALENDARClick here for Movie Showtimes Pasadena’s ‘626 Day’ Aims to Celebrate City, Boost Local Economy Name (required)  Mail (required) (not be published)  Website  Business News Home of the Week: Unique Pasadena Home Located on Madeline Drive, Pasadenacenter_img First Heatwave Expected Next Week Dr. Kevin KingHuntington Medical Research Institutes (HMRI), an independent and leading biomedical research institute based in Pasadena, California, has recruited Kevin King, MD, to be its new Director of Imaging Research.Dr. King, a Harvard Medical School graduate with research training from MIT, joined the HMRI team on July 1st. Dr. King previously served as an Assistant Professor of Radiology at USC Keck School of Medicine, where he participated in the Alzheimer’s Disease Research Center’s vascular cohort. Dr. King was previously a researcher on the Dallas Heart Study based at University of Texas-Southwestern in Dallas, investigating the use of MRI to understand the role of vascular disease in the brain and served as co-director of the imaging core for their Alzheimer’s Disease Center.“We’re eager to see the transformative and innovative approaches Dr. King will bring to the rapidly expanding imaging research program at HMRI,” said Dr. Marie Csete, President & Chief Scientist of HMRI. “His dedication and passion for research at the foundations of physiology are a natural fit for the culture we’ve built at our institution – to improve health and save lives. The complex diseases of the brain we study all have vascular causes, but until recently dissecting the vascular contribution to diseases such as Alzheimer’s has been very difficult for us and for all researchers to quantify. I am optimistic that the tools Dr. King brings to HMRI will give us insights into brain health and disease. ”Currently, Dr. King is seeking to use non-invasive imaging methods to better understand changes in the brain’s vascular function due to aging and disease, continuing a long tradition of excellence and innovation in these areas of imaging research at HMRI. The long-term goal of this work is to enable early assessment of disease onset, so that therapies can be initiated before disease is too advanced. Clinical trials and medicine generally need objective non-invasive end-points to be able to follow response to therapies, and MRI end-points are critical for advancing therapies.“HMRI’s goal to expand the provision of non-invasive imaging of the brain and other organs to better understand various disease states and their progression can become a reality with Dr. King at the helm of our imaging program,” Csete added. “Since imaging is central to our new scientific strategic plan, Dr. King was also chosen for his ability and willingness to collaborate across the medical specialties at HMRI.”Last year, HMRI installed a second MRI which will be dedicated to clinical research under Dr. King’s leadership. This state-of-the-art magnet allows HMRI investigators to probe the anatomic and chemical causes of disease. The machine is equipped with specialized coils to facilitate investigation of chemical processes, such as those involved in core metabolism and energy. These chemical pathways change as we age and with disease, and imaging these reactions represents the future in non-invasive diagnostics.About Huntington Medical Research InstitutesHuntington Medical Research Institutes (HMRI) is a tax-exempt 501(c)(3) nonprofit, public-benefit organization based in Pasadena, California, dedicated to studying and enhancing knowledge of diseases in order to improve health and save lives. HMRI’s mission is multidisciplinary, patient-focused research. For six decades, it has been making biomedical discoveries and developments that have set new precedents in medical knowledge across the nation and around the world. HMRI is Pasadena’s only dedicated biomedical research organization with research programs neurosciences (Alzheimer’s, traumatic brain injury, migraine), heart and liver diseases) and advanced imaging research. For more information, visit www.hmri.org. Pasadena Will Allow Vaccinated People to Go Without Masks in Most Settings Starting on Tuesday Make a comment Subscribe More Cool Stuff Community News HerbeautyThe Real Truth About The Pain Caused By MicrobladingHerbeautyHerbeautyHerbeauty6 Fashion Trends You Should Never Try And 6 You’ll LoveHerbeautyHerbeautyHerbeautyWeird Types Of Massage Not Everyone Dares To TryHerbeautyHerbeautyHerbeautyTips From A Professional Stylist On How To Look Stunning In 2020HerbeautyHerbeautyHerbeautyStop Eating Read Meat (Before It’s Too Late)HerbeautyHerbeautyHerbeauty11 Signs Your Perfectionism Has Gotten Out Of ControlHerbeautyHerbeauty Your email address will not be published. Required fields are marked *last_img read more

FHFA Targets Hardest Hit Markets with Neighborhood Stabilization Efforts

first_img March 7, 2016 1,309 Views Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, News, REO FHFA Targets Hardest Hit Markets with Neighborhood Stabilization Efforts Home / Daily Dose / FHFA Targets Hardest Hit Markets with Neighborhood Stabilization Efforts One goal for Fannie Mae and Freddie Mac, as outlined by its conservator, the Federal Housing Finance Agency, for 2015 was to reduce the number of vacant REO properties they own. While the number of these properties has been steadily declining the last few years, it remains elevated in some areas.The FHFA targeted 18 of those markets when it expanded its Neighborhood Stabilization Initiative (NSI) in November 2015 after a launching a pilot NSI program in Detroit in June 2014 and expanding it to Cook County (Chicago) in April 2015. The pilot program “sought to test innovative pre- and post-foreclosure strategies aimed at stabilizing selected distressed communities.”According to the FHFA’s Conservatorship Scorecard for 2015 released last week, which measures the progress of the goals for Fannie Mae and Freddie Mac while under conservatorship of FHFA, the GSEs are expected to give consideration to several tools when reducing the number of REO properties they hold. Those tools include giving consideration to non-profit organizations, repairing REO properties before executing a third-party sale, and either demolishing or donating uninhabitable properties—and leveraging NSI to develop strategies to achieve the best possible outcomes in neighborhoods, according to FHFA.Following the launch of the pilot programs in Detroit and Chicago, FHFA worked closely with the GSEs to analyze current risks in their REO portfolios and determine in which markets the NSI REO approaches would be most successfully implemented. The GSEs and FHFA determined that a broad-based REO stabilization program could be implemented in multiple markets using the infrastructure created with the pilot program.The expansion of the NSI builds on a partnership with the National Community Stabilization Trust (NCST) and features an Enhanced First Look program in those metropolitan statistical areas identified. Through Enhanced First Look, the GSEs offer NCST-approved community buyers and exclusive opportunity to purchase the REO properties without competition.“The sales prices of REO properties are established using a cost-avoidance framework that reduces the list price for a property based on estimates of the costs the Enterprise would otherwise incur for the preservation, maintenance, marketing, and sale of the property and takes into consideration a quick and certain sale,” FHFA said.The NSI expanded to the following markets, effective December 1, 2015: Akron, Atlanta, Baltimore, Chicago, Cincinnati, Cleveland, Columbus, Dayton, Detroit, Jacksonville, Miami, New York, Orlando, Philadelphia, Pittsburgh, St. Louis, Tampa, and Toledo.“Our goal is to take what we learned in Detroit and Chicago and apply it to these additional communities as quickly and efficiently as possible. Giving local community buyers an exclusive opportunity to purchase these properties at a discount, taking into account expenses saved through a quicker sale, is an effective way to give control back to local communities and residents who have a vested interest in stabilizing their neighborhoods,” FHFA Director Mel Watt said. The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily About Author: Brian Honea  Print This Post Previous: Does Credit Score Matter? Not to a Lot of Baby Boomers Next: DS News Webcast: Tuesday 3/8/2016 The Best Markets For Residential Property Investors 2 days ago Share Savecenter_img The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: Fannie Mae FHFA Freddie Mac Neighborhood Stabilization Initiative REO properties Related Articles Subscribe Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Fannie Mae FHFA Freddie Mac Neighborhood Stabilization Initiative REO properties 2016-03-07 Brian Honea Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

St. Louis Fed Economist on Recession Threat, Housing

first_imgHome / Daily Dose / St. Louis Fed Economist on Recession Threat, Housing  Print This Post St. Louis Fed Economist on Recession Threat, Housing Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save April 10, 2020 1,691 Views Subscribe This feature originally appeared in the April issue of DS News.William R. Emmons is the lead economist with the Center for Household Financial Stability at the Federal Reserve Bank of St. Louis, where he also serves as AVP. His areas of focus at the Center include household balance sheets and their relationship to the broader economy. He also speaks and writes frequently on banking, financial markets, financial regulation, housing, the economy, and other topics. His work has been highlighted in major publications including The New York Times, The Wall Street Journal, and American Banker, and he has appeared on PBS NewsHour, Bloomberg News, and other national programs. Emmons received a Ph.D. in finance from the J.L. Kellogg Graduate School of Management at Northwestern University. He received his bachelor’s and master’s degrees from the University of Illinois at Urbana Champaign. DS News spoke to Emmons about recession threats and economic policy, as well as racial disparities in housing, slow population growth, and the implications of the falling default rate nationwide.Where is the threat level for a recession now? Let me start by saying these are my own views. The Fed cut interest rates, and that’s a concern. Also, the Fed cut rates 75 basis points last year. That indicates some concern. The yield curve has been inverted a chunk of last year. Depending on exactly which measure you look at, it inverted again this year. [President of the Federal Reserve Bank of St. Louis] Jim Bullard has pointed to that as a very important recession indicator. Another index that is informative is the Chicago Fed index, which shows that the economy is probably not in recession as of January. It is at a level that could be close if you go back and look at previous recessions. As long as the job market stays strong and unemployment stays low, we can probably power through without a recession. I would say there are so many straws in the wind right now. This is classic stall speed, tipping point sort of territory right now. The New York Fed, for example, has a model that is based largely on the slope of the yield curve, and they were showing elevated recession probabilities. I think they were pointing toward the middle of 2020 but that was before the virus. So, where’s the threat level? I would say high. How is the population growth slowdown impacting housing? As the population growth slows and there are fewer young people, it trickles through in all sorts of different ways. Way down the road, fewer people are entering the job market, and so those things are slower to develop. This deceleration in population growth is unusual because it’s probably the lowest population growth in peacetime ever. Economists who are looking at demography point to periods of really stressful economic conditions like the Great Depression or a war—that’s when you would expect to see both slowdowns in birth rates and in immigration, but we’re seeing it now when there is no Great Depression. Maybe by 2020, we’ll see some recession conditions. The point is that both the slowing birth rate and slowing immigration are indicative of some kind of adverse trends about young people not being as optimistic. Foreign potential immigrants are also not as welcome or not as optimistic about coming here as they might’ve been in the past.How solid has the housing market’s recovery become in recent years?I would characterize the housing recovery as mixed. Demand is pretty good. A big question coming out of the housing crash was, would people be frightened of homeownership? It doesn’t look like it. Opinion surveys show, pretty much across the board, across different demographic groups, people are still interested in becoming homeowners. One simple measure of the demand side is just what’s happening with house prices, which have gone up a fair amount. There’s still support for homeownership, and people want to be homeowners. The downside, though, is the supply side. Construction costs are worryingly high or growing rapidly. That’s land, labor, and lumber, but also growth restrictions, as well as difficult permitting in some areas that adds huge amounts to the cost. There’s a lot of work being done now—research and analysis pinpointing this problem of providing the supply. It looks different depending on where you are. In St. Louis, we don’t have much population growth, so there’s not a need for a lot of new housing. I would say a place like this is pretty healthy in terms of demand being accommodated by supply. House prices haven’t risen that much, and I’m thinking of house prices going up as an unhealthy sign either because of these supply problems or unrealistic price expectations. House prices have gone up in Dallas, Houston, and Austin—more than maybe they did even in the 2000s—and affordability measures would still say those markets are getting a little bit pricey for some people, but on average still pretty decent. Then there are the problem markets, mostly on the coasts where there is strong job growth, but housing supply is just pitiful. They’re just building grossly inadequate numbers of new housing, due in part to building restrictions. One positive from the stability of housing is credit. Underwriting is tighter than it was during the 2000s, and that has the negative implication that some people who would like to be homeowners can’t right now. It also keeps the default numbers down because there are fewer instances of either individuals or families getting into homeownership in a risky way. Yes, it limits access for some people, but it’s a tough call because you don’t want to limit people’s choices. On the other hand, we know from experience that a big housing bust is extremely costly. And, of course, the people in the default servicing business see things a little bit different because that’s their business, dealing with defaults. Overall for the economy, low defaults are probably better than high defaults if we can maintain some promise that people will have access. But I would say the bottom line is that credit conditions are the main thing that differentiates why we have seen strong price growth.How are racial wealth disparities translating to housing?There’s a lot more interest in recent years in this area. There’s the historical background, and then there’s the current ongoing situation. Historically, discrimination and exclusion outright legalized segregation. Redlining has to be the most important historical fact. This brings us to the current situation: even if we were able to get rid of all of the essentially legalized discrimination like redlining, you would still not be back to a level playing field. For several reasons, current black and Hispanic income levels are lower than those of whites. Wealth is much lower. Even if you were able to eliminate all of the discriminatory practices, lower income and wealth would probably lead to lower rates of homeownership. Then there’s credit access. In the boom of the 2000s, it was almost like the situation had reversed. Instead of providing too little credit access, there was actually too much, and some of it was inappropriate, some of it was missold, and some of it was predatory. That led to more wealth declines as default rates and foreclosure rates were higher for racial and ethnic minorities. We at the Fed and other agencies have worked hard to try to make credit more available and fairer, but that doesn’t eliminate income and wealth disparities. Even if we believed that there was no redlining, there’s some economists at the Cleveland Fed who have been digging into what you might call “self-segregation.” People of the same income levels tend to cluster together. If you belong to the Catholic church, you want to live with other people who go to the same church. The same is probably true across racial and ethnic groups or even recent immigrant groups. We know it’s a source of strength for immigrants coming into the country to cluster together in one area. It just seems that’s an aspect of human nature that tends to perpetuate segregation. Some of the historical patterns and embedded disadvantages—low income, low wealth, for example—that means that minority neighborhoods have been more volatile in price. There’ve been bigger swings, bigger foreclosure problems, and longer-term, I’ve seen some evidence that appreciation rates have been lower, typically, in non-white neighborhoods. This sets up a vulnerability for less wealth accumulation. The Fed is part of this effort to try to bring a lot of these pieces of history and facts into the open, trying to enforce fair access to credit, but it’s a complicated problem. I don’t know that there’s a magic wand you could wave at the problem, but part of making progress is documenting and understanding what the situation is and where it came from before we can hope to make much progress.What does your day-to-day look like at the St. Louis Fed? I have three areas of responsibility, and so every day looks a little different, focusing on each of these. One is in our Center for Household Financial Stability. This is looking at families, especially with a special emphasis on families that have been struggling historically, whether it’s young families, families of color, or those with less education. Within that area, what I’m really focusing more on this year is homeownership. We’re going to do a lot of work on that this year. Another area that I spend a lot of time on is broader monitoring of the economy and financial markets.I do a lot of public speaking on those topics. The third area is a regular series of briefings for our president on topics that can range pretty broadly but generally are not monetary policy. I’m in the banking supervision division and so we stay away from classic monetary policy topics, but I and my colleagues cover things like financial markets, with a lot of focus on international banking conditions. Every day looks a little different. I enjoy a variety of things to do and feel like I’m always learning from people in each of these areas The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Mike Albanese Servicers Navigate the Post-Pandemic World 2 days ago Related Articles in Daily Dose, Featured, News, Print Features Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily 2020-04-10 Mike Albanese Demand Propels Home Prices Upward 2 days ago Previous: OCC Intends to Move Forward With CRA Changes Next: Ginnie Mae Expands Servicer Liquidity Facility The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more