ADP Grossly Overstates Job Growth for Last 12 Months by 419,000 Jobs

ADP has announced revised methodology to "enhance" its monthly job reports, no doubt because its prior numbers simply were grossly inaccurate.Indeed, I stopped commenting on ADP numbers because I thought they were absurd.Let's take a look at their revised methodology. Here is the ADP Jobs Report for September using the revised methodology. "Private sector employment increased by 88,200 jobs from August...

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Actress Brooke Smith Lists L.A. Abode

SELLERS: Brooke Smith and Steven LubenskyLOCATION: Los Angeles, CAPRICE: $1,649,000SIZE: 2,878 square feet, 4-5 bedrooms, 2.75 bathroomsYOUR MAMAS NOTES: The other day, as we aimlessly sifted though some of the newer listings in Los Angeles, Your Mama ran across a (somewhat) modestly scaled and urbanely-dressed two story traditional listed with a $1,649,000 asking price that set off all our celebrity...

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Home Prices Turning the Corner: Are You?

Tampa’s premier home builder, Standard Pacific has recently published an article that sheds light on market conditions and trends in our area. The article is based on a report done by Barclays Capital that forecasts home prices rising as much as 5% – 7.5%! The article also reveals some significant factors that are pushing home prices in an upward direction and how this is being done in two different...

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Canada GDP "Unexpectedly" Shrinks; Pollyannas Come Out Of Woodwork

Economists who cannot see anything but the rear view mirror were surprised to learn Canadian Economy Shrinks as Oil, Mining Slump. The Canadian economy shrank unexpectedly in August, pointing to a sharp third-quarter slowdown in growth from the first half and reinforcing the Bank of Canada's message that interest rate hikes are less imminent.The surprising 0.1 percent contraction in August from July reflected broad weakness across most industries, prompting economists to revise forecasts down. The...

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"Google Law" Yet Another Warped Policy by Hollande; Government Motors French Style

French president François Hollande took two more swan dives into the pool of ludicrous actions in the past few days, first with car-maker Peugeot, quickly followed up with a guaranteed-to-fail proposal regarding search engine giant Google.Government Motors French StyleBloomberg reports France Guarantees Peugeot Debt in Exchange for InfluenceThe French government stepped in to rescue PSA Peugeot Citroen...

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Abdo Envisions Condos for Empty Rhode Island Avenue Lot

You could call it a vindication. Or you could simply say the market finally changed. Either way, Jim Abdo says he’s got revamped plans for the property he owns at 1427 and 1429 Rhode Island Avenue NW, the only vacant lot on that block and one of the few left in the neighborhood. The Logan Circle-based developer had been planning on erecting a 70-something unit apartment building there, but ran into...

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19 of 20 Case-Shiller Index Markets Improve In August

Home value rose to close out the summer, according to the S&P/Case-Shiller Index, a national home-valuation tracker. Nationwide, values rose 0.9% between July and August 2012 with 19 of 20 tracked markets showing improvement. Only one tracked city -- Seattle, Washington -- showed a decrease, falling just 0.1 percent. On an annual basis, 17 of the 20 Case-Shiller Index markets improved, led by...

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Morning Real Estate Fix

Sandy amps up anxiety of home buying (Washington Post)  Delays in settlements can cause headaches, and the shifted liability - as sellers remain liable for storm damage until settlement - can be a cause of litigation.A look at proposals to limit the mortgage interest deduction (LA Times)  With the deduction saving taxpayers $484 billion per year, numerous proposals to ratchet down the deficits of the last 3 years have the popular credit in their sites.Constitution Center leases remaining...

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Governor Chris Christie Strongly Praises Obama's Response to Sandy; Could Christie's Comments Tip the Election?

Here's a headline story including an interview on Fox news that caught me by surprise: New Jersey Chris Christie Praises Obama, Doesn't 'Give a Damn' about Election Day The presidential candidates have canceled all campaign events on Tuesday, but Republican New Jersey Chris Christie seemed to be stumping for President Barack Obama by appearing on several networks to praise the federal response to...

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Japan Manufacturing PMI Falls to 18-Month Low

The Japanese economy continues to skid as evidenced by the October Japan Manufacturing PMI™Key pointsOutput and new orders both down at sharper ratesEmployment falls at fastest pace since July 2009Average output charges pared to steepest degree since December 2009SummaryOctober’s PMI data indicated a further deterioration in the performance of the Japanese manufacturing sector. Orders and output both continued to fall during the month, while evidence of rising excess capacity led to a first reduction...

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Ice-T and Coco To Make a Move in New Jersey

BUYERS: Ice-T and CocoLOCATION: Edgewater, NJPRICE: $2,199,000 (list)SIZE: 4,200 square feet (approx.), 5 bedrooms, 5 bathroomsNOTE TO THE CHILDREN: In light of the devastating effects of the psychotic storm Sandy, Your Mama thought maybe today we should just give it a damn rest. "Who needs this kinds of stoopid celebrity real estate frivolity at a time like this?" we said to The Dr. Cooter as he...

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NY Subway May Take Weeks to Restore Service, 5 Million Affected; 80 Flooded Homes Destroyed by Fire; Stunning Flood and Fire Images

Hurricane Sandy has moved on but the damage remains. The following picture of Times Square posted on Gizmodo caught my eye. Fortunately, it does not look real. Lights should not be on and there would be debris everywhere.However, the Metra chairman did say water was "literally up to the ceiling" at one downtown station, so take this image and use your imagination, adding dead rats, debris, and whatever...

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Greece Coalition Splinters, Austerity Vote Delayed, PM Warns of 'Chaos'; Another Puppet Show or Is This For Real?

In Greece, Prime Minister Antonis Samaras coalition has split. The result is yet another delay in an austerity vote required for the next tranche of loans to Greece, and the PM warns of 'chaos'. Greece's conservative Prime Minister Antonis Samaras is at odds with the Democratic Left party, a coalition partner, which is threatening to vote against the new austerity measures unless labor reforms included in them are scrapped.Samaras formed a coalition with the traditional rival Socialists and the...

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Pending Home Sales Index Suggests Housing Momentum Into 2013

The home resales is expected to finish the year with strength. Last month, for the fifth straight month, the Pending Home Sales Index hovered near its benchmark value of 100, registering 99.5 in September. he Pending Home Sales Index tracks homes under contract to sell, but not yet sold, and is published by the National Association of REALTORS®. The index is a relative one. It compares today's housing...

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670,000 Without Power in NYC; Flood Crests 13.88 Feet, Besting 1960 Record of 10.02 Feet; Wall Street Flooded

The good news for New York City is the storm crest has peaked. The bad news is the cleanup will take days, or longer, and much of the city is blacked-out.Please consider Hurricane Sandy’s Waters Flood Blacked-Out New York City.Hurricane Sandy sent floodwater gushing into New York’s five boroughs, submerging cars, tunnels and the subway system and plunging skyscrapers and neighborhoods into darkness. Two deaths were reported in Queens and more than 670,000 were without power in the region as of 11:30...

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85% of Atlantic City Flooded; New York Subway in Jeopardy; Markets Closed Again Tuesday; Hurricane Sandy Image from Space

As many as 2 million customers are without power as Sandy slammed into New Jersey and New York.The markets will be closed again on Tuesday but may  resume on Wednesday, the final trading day of the month. New York's mass transit system remains shut and it is unclear when service will be restored. Here is an Image of Hurricane Sandy from Space from a New York Post Tweet.Large Nor'Easter on SteroidsAccuweather...

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Maroon 5's Adam Levine Buys in Beverly Hills

BUYER: Adam LevineLOCATION: Beverly Hills, CAPRICE: $4,380,000SIZE: 6,539 square feet, 6 bedrooms, 7 bathroomsYOUR MAMAS NOTES: Its no surprise to anyone in the celebrity real estate gossip game that tatted-up and famously promiscuous model-squiring Maroon 5 lead singer turned televised singing contest judge (The Voice) has been on the hunt for new digs in Tinseltown.Back in early September, in fact,...

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Hurricane Sandy Update: First $100+ Billion Storm in U.S. History?

Sandy is classified as a Hurricane 1 status, a low-grade hurricane. However, don't let that fool you in terms of impact. It's not the absolute magnitude of the hurricane, but rather the magnitude vs. what the infrastructure can handle that matters.Barometric pressure is 27.76, the lowest pressure recorded for a storm in the Northeast. Sandy is unprecedented in size as well. The hurricane is likely to reach shore with a full moon high tide raising storm surges several more feet.Accuweather notes...

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