During the first-quarter, it fell below its competition, experiencing a 4 percent decline in sales in stores 16-months old or older. Yet, during the most recent month, it showed a small increase above the others. Its a broader industry problem, stated Jeffrey Bernstein, senior restaurant analyst with online Barclays. According to Chris Muller, a restaurant professor at Boston University, Olive Garden, probably more than any other company in the entire industry, is smack in the sweet middle-class mindset. It is middle class and the middle class right now is suffering. With higher mortgage rates, home sales have slowed, and potential homebuyers are spending less. Also, the fewer homes that are built, the less jobs are created. It is estimated that three jobs that last for a year are created for each single-family home built.
For the original version including any supplementary images or video, visit http://guardianlv.com/2013/09/unstable-housing-market-blamed-for-drop-in-casual-dining/
Housing prices rise again
But now those owners are energized by the price increases and eager to capitalize on the rebound. “They say, ‘OK, good, now it’s my turn,'” said Cathy Prenner, an agent for Campbell and Rosemurgy in Lighthouse Point. Statewide, the median price for existing homes hit $175,000, up 19 percent from a year ago, the Florida Realtors said. Sales increased 13 percent.
For the original version including any supplementary images or video, visit http://www.sun-sentinel.com/business/fl-august-home-prices-20130920-7,0,370292.story
Housing Market: 5 Years Later
Smith says home prices began to improve in 2011 when the market had almost digested the crisis and left the average median home price at $166,100. Now he says the average price is $213,500 — up 15% from last year. Rising prices will also help maintain the recovery because it changes a homeowners mindset.
For the original version including any supplementary images or video, visit http://www.foxbusiness.com/personal-finance/2013/09/16/housing-market-5-years-later/