Category: rfllhrudt

International students’ visa regulations revised

first_imgThe government has released a revised set of visa proposals which aim to curb the number of foreign students in Britain by around 100,000 a year.The coalition believes that the new proposals offer compromises on their more stringent original plans, which were met with hostility by universities nationally. Home Secretary Theresa May said that significant changes were necessary to combat abuses in the system and to reduce annual net migration.The measures, which will be implemented from April, will include alterations to the post-study work route and restrictions on which students can bring dependants to the UK with them. There will be tighter regulations for private colleges wishing to sponsor overseas students, in order to prevent enrolment at bogus colleges.The concessions offered include scrapping the plan for an arbitrary cap on student migration and allowing some students to stay in the UK after graduation. Revised measures will enable students with the offer of a graduate-level job paying at least £20,000 a year to stay on to work.Additionally, whilst there will be tougher English language requirements in place for those who wish to study in the UK, universities will be able to introduce their own tests for potential students.A spokesperson for Oxford University said, ‘We welcome the proposals regarding the changes to the student immigration system and are satisfied that our serious concerns were listened to carefully by the Government.‘The changes announced will ensure that we continue to attract the most intellectually able international students to Oxford and that students will still have the opportunity to take up graduate level jobs after completing their studies.’Nevertheless there remains opposition to the proposals. Colin Jackson, OUSU’s International Students Officer said, ‘While some of the more egregious proposals (requiring that students physically return home to extend their stay, not allowing universities to vouch for students’ ability to speak English, etc.) have been done away with, the tone – and more importantly the effect – of these proposals still belies what I see as hostility towards international students.’Clare Joyce, an American PPE student, told Cherwell, ‘It is important to remember that there are already many obstacles for non-EU students seeking to pursue their studies in the UK … The ability to attract the best and the brightest, regardless of their home country, to Oxford, is a substantial part of what keeps Oxford globally competitive in an age where that competition has become more intense than ever.’Similarly, Vartan Shadarevian, a first-year student at University College, said, ‘International students on graduation, by virtue of their degree, are some of the best educated immigrants in the country. They pay much higher international fees, and throughout their time of study pay living and accommodation costs, pouring huge sums of money into the British economy … foreign students represent the most welcome form of immigration, and treating them as other immigrants is an ill advised, ill thought-out policy direction.’Âlast_img read more


first_imgWe hope that today’s “IS IT TRUE” will provoke honest and open dialogue concerning issues that we, as responsible citizens of this community, need to address in a rational and responsible way?Yesterday the City-County Observer posted a link to the Indiana State Board of Accounts “Special Investigation Report” of the financial records of the Echo Housing Agency during JANUARY 1, 2015 to February 28, 2918.  On the cover page of this report State Examiner, Paul Joyce-CPA made the following statement; “We performed procedures to determine compliance with applicable Indiana laws and uniform compliance guidelines established by the Indiana State Board of Accounts. The Results and Comments contained herein describe the identified reportable instances of noncompliance found as a result of these procedures. Our tests were not designed to identify all instances of noncompliance; therefore, noncompliance may exist that is unidentified.  Any Official Response to the Results and Comments, incorporated within this report, was not verified for accuracy.”IS IT TRUE we find it puzzling that the” Special Investigation Report” didn’t identify who else may have benefitted from the alleged misappropriations of Ms. Tenbarge?…the State Board of Accounts “Special Investigation Report” has been accepted as accurate by the Echo Housing Board of Directors that still leaves several questions unanswered as it only concentrated on the actions of Tenbarge that allegedly victimized Echo Housing and the taxpayers of the entire United States that granted money into those coffers?…as for Tenbarge a tabulation on page 14 of the State Board Of Accounts “Special Investigation Report” charges that a total of $180,006 is expressly concluded to be due back to Echo Housing from Stephanie Tenbarge who has been indicted for 3 crimes that could put her into prison for longer than her life expectancy?IS IT TRUE that in the body of the State Board of Accounts “Special Investigation Report” a reference is made to a “contractor” who was living in Echo Housing property free and also received payments of over $135,000?…there are numerous other unnamed people or “contractors” who are cited in this report for having received payments from Echo Housing plus it seems as though the established procedures for financial oversight were either not followed at all or followed in a most incompetent way?…it is also cited that Echo Housing carried crime insurance policies but the limits and deductibles of these policies are not stated?…if these policies are worth the paper they are written on Echo Housing may just get reimbursed for some of the losses that happened due to a proven crime?  …if Ms. Tenbarge is not found guilty of the alleged crimes then this policy will not pay a darn thing?…one would expect that such an entity would carry a policy for the errors and omissions associated with the actions and inactions of the Board of Directors?…that small petty theft can easily get swept into the operations of a large organization but for transactions over a number of years subject to a “Special Investigation Report” of nearly $200,000 carry more responsibility than just the alleged thief?IS IT TRUE that an exit conference was recently held that was attended by Chris Metz, Executive Director; Karen Woodard, Office Administrator; Dane Chandler, President of the Board; Rev. Gerald C. Arnold, Board member; and Jason M. Fisher, Board member?…it’s possible that a couple members of this group could bear some responsibility for what has happened at Echo Housing as they were the fiduciaries sworn to carry out the policies that had been adopted and to provide oversight of the former Executive Director?…we believe that the only way that Echo Housing missing funds isssue can be proven that Stephanie Tenbarge acted alone is to allow the Forensic Audit to point it out?…the insurance companies involved will certainly have an incentive to root out who all of the illegal beneficiaries of this fiasco are from Tenbarge, to board actions, to contractors and service providers?…that some people believe that it may be convenient to hang all of this missing funds issue on Tenbarge and some people in elected and appointed offices hope that this problem goes away but some people believe that would not be in the interest of justice? …bottom line, nothing but a fully executed Forensic Audit will reveal the full tabulation of who benefitted and how?…to do any less is to act as an aider and abetter of the alleged theft?IS IT TRUE here’s a link of the State Boards Of Accounts “Special Investigation Report”?        Echo Housing AuditIS IT TRUE that there were just some layoffs in downtown Evansville and these were some good paying jobs?…the layoffs we speak of were at Vectren where the acquisition purge finally came about right after the public utility was bought out?…there has been no official count yet and most of the people who were laid off were also bought out with several actually getting golden handshakes of over many million dollars?…to the disgust of many, some of the golden parachute crew will be eligible to draw unemployment benefits of roughly $400 per week from the State of Indiana for the next 26 weeks?…as aggravating as some folks may be over this it is fair as they will not be getting paychecks?…there is no means test to draw unemployment and one who gets a million dollar handshake is just as entitled under the law to unemployment benefits as one who gets a two week severance check?…we do wish the departing Vectren employs good fortune as they move on and are disheartened to see a prominent corporate headquarters vaporize in downtown Evansville?IS IT TRUE the reality that the demographics of the neighborhood where the new $18 Million bike path was just installed have reared their ugly head once again when it comes to supporting a grocery store?…it has not been long since the Buehler’s Buy Low and a CVS closed due to poor business and other than a gold plated bike path, nothing else has changed?… Jimtown was Jimtown before the gilded bike path was built and Jimtown is still Jimtown?…the reality is that Jimtown doesn’t have the cash flow to support a grocery store?… Jimtown’s population is sufficient but the income of the residents is not?…downtown Evansville residents have the income but they don’t have the population needed to support such stores?…there is no reason to believe given the housing stock and available land that either of these situations will change in the next two decades? IS IT TRUE last night the 4th Ward City Council candidate Alex Burton had a very successful political raising event at a Hayne’s Corner Pub?  …it’s obvious that Mr. Burton campaign is attracting a diverse group of supporters?  …one thing for sure that Mr. Burton campaign staff are really for his campaign to begin?  …we are told that 24-year 4th Ward City Councilwoman Connie Robinson is openly supporting Alex Burton to replace her on City Council? IS IT TRUE we are told that the ACLU is watching to see if a group of individuals are successful in forcing the cancellation of the upcoming “Drug Queen Story Hour” scheduled to be held at the North Park Public library?Todays“Readers Poll” question is: Would you like for the Echo Housing Board of Directors to release a copy of the Forensic Audit of Echo Housing to the general public?Please go to our link of our media partner Channel 44 News located in the upper right-hand corner of the City-County Observer so you can get the up-to-date news, weather, and sports.If you would like to advertise on the CCO please contact us at City-County [email protected] FOOTNOTE: Any comments posted in this column do not represent the views or opinions of the City-County Observer or our advertisers. FacebookTwitterCopy LinkEmailSharelast_img read more

IS IT TRUE January 27, 2016

first_img IS IT TRUE last week we predicted that the State Board of Accounts will be holding an exit conference to discuss the 2014 Evansville Water and Sewer Utilities audit with present elected and appointed City officials on February 2, 2016?  …our prediction was spot on?  …we are pleased to hear that the State Board of Accounts called and invited former President of City Council John Friend CPA to attend this exit conference?  .IS IT TRUE we are extremely pleased that the Evansville Brownfield Corp. meeting will be held on Friday, January 29, 2016 at 1:30 pm in the Ellerbrook Conference Room, at the Downtown Vectren Corporate offices?  … our sources tell us that the meeting will be open to the public?IS IT TRUE  the mission statement for the not-for-profit Evansville Brownfield Corp does not include the holding of public debt and the leasing of commercial structures.IS IT TRUE we wonder why Evansville Brownfield Corp a not-for-profit organization will be holding the bonds for the parking garage which will be leased to the Convention Hotel?IS IT TRUE we hear that  there may be some interest in requesting a review of the not-for-profit status of Evansville Brownfield Corp by the Department of the U S Treasury and Internal Revenue Service?IS IT TRUE  the Evansville Redevelopment Authority holds the bonds for the Ford Center and leases the facility to the Evansville Redevelopment Commission?  …we wonder why?IS IT TRUE the purpose of the Evansville Redevelopment Authority is to circumvent the limitation of total debt to income ratio that the City of Evansville would be allowed to maintain?IS IT TRUE the purpose of laying off the bonds onto Brownfield is one of those questionable mechanisms to avoid the capping of Evansville Redevelopment Authority debt limitations?IS IT TRUE  at Monday evening City Council meeting City Controller Russ Lloyd presented the investment levels of the City of Evansville?  …we can’t wait to hear his public presentation concerning the soon to be released State Board of Account City audit for 2014?IS IT TRUE we sat with eager anticipation for City Council Finance Chairman Dan McGinn  to ask  Russ Lloyd City Controller the hard questions concerning city finances?  …City Councilman Dan McGinn just sat silently and smiled at Russ?IS IT TRUE  Council Finance Chairman  Dan McGinn should have asked what level of debt our  city had on the first day of 2015 and what are those level as of December 31, 2015?IS IT TRUE Mr. McGinn should know that the investments are just one half of the equation what about the increases in our debt levels?IS IT TRUE todays “READERS POLL;  “Do you feel its time for the books of the Evansville Brownfield Corp to be audited?IS IT TRUE future articles shall be posted on Mondays, Wednesdays and Fridays unless we have unexpected breaking news?Copyright 2015 City County Observer. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.FacebookTwitterCopy LinkEmailSharelast_img read more

Consumer watch Food-to-go tracking programme

first_imghim! has just spoken to 1,400 custo-mers while they are buying food and drink items from outlets of Burger King, Pret A Manger, Greggs and Subway. Only 6% of customers are currently buying an item that they didn’t intend to buy on arrival.So what can actually you do to encourage customers to spend more in your outlets?They asked:What would appeal to customers if offered by the store?Information about calorie or fat content of food 32%Nutritional information about food 26%More seating 24%Wi-Fi/internet available 22%Television in-store 15%Meal deal 9%Which of the following would you consider buying if offered in this store?Smoothies 15%Newspapers 13%Chocolate bars 10%Cereal bars 6%Ready meal to heat up later 5%Kids sweets 3%Branded sandwiches (eg Ginsters) 2%Time to check out the competition?If you want to get more customers into your outlet, then you may want to check out the competition and understand why they have been so successful.When him! asked food-to-go customers where they received excellent customer service they said:Pret A Manger 21%Greggs 19%Subway 17%McDonald’s 9%My local independent sandwich shop/café/coffee shop 8%Would you and your staff benefit from a trip down to the local competition? Look at things through your customers’ eyes. Why are these retailers rated so highly by customers?Well a big factor is that these retailers are particularly good at being super-efficient and serving customers very quickly, while maintaining a friendly but professional manner towards them.For more information on him!’s Food-to-go tracking programme please contact [email protected] 07912 717 567 or visit read more

Press release: 500,000 daily testing capacity reached in ongoing drive to boost test and trace

first_imgHealth Minister Lord Bethell said: As a result of partnerships with NHS and university labs, new cutting-edge testing innovations and a recruitment drive boosting the UK’s coronavirus diagnostic network, NHS Test and Trace has rapidly expanded testing capability ahead of winter.In order to meet the unprecedented scale of challenge this pandemic presents, the government has built a national coalition of people and organisations – from national and local government, the NHS, Public Health England, the military, academia, epidemiology, the private and not-for-profit and community sectors – to create a massive scale testing and tracing programme.Health and Social Secretary Matt Hancock said: I am so grateful to the teams who have worked tirelessly over the past few months to meet this milestone, building the UK’s daily coronavirus testing capacity to 519,770. More testing means more cases of coronavirus are identified, helping break chains of transmission and stopping this disease spreading. NHS Test and Trace is a crucial weapon against this virus – but it’s no silver bullet. As cases are rising, everyone must continue to play their part by following new restrictions and advice of NHS Test and Trace if they are contacted. Thanks to thousands of people working around the clock we have built the largest diagnostic network in British history and we are processing tests at an unprecedented scale. As we set out to do, we surpassed our aim of 500 testing sites and exceeded our target capacity of 500,000 by the end of October. But we will not stop. We will continue to expand capacity to improve test turnaround times, push forward testing innovations to make sure anyone who needs a test can get one. I urge everyone to follow new restrictions and book a test if you have symptoms in order to protect our loved ones during this time. UK testing capacity increased to 519,770 to help meet demand over the winter period, in ongoing expansion of testing this follows announcements of new Lighthouse Labs and partnerships joining the lab network rapid testing innovations will further boost testing capabilitiescenter_img To respond to the coronavirus we have built a major testing and tracing system from scratch in five months, and we are constantly working to expand and improve it with new technologies and innovations. We are working tirelessly to make sure everyone who needs a test can get one, including by bringing in new labs that can process tens of thousands of tests a day, opening new test sites, and trialling new rapid tests that will give results on the spot. The government’s commitment to increasing testing capacity has seen the number of labs across the UK’s growing diagnostic network grow through a combination of public, private and academic partnerships.More than 3,000 new recruits have joined the lab network since April, while advances in innovation and technology continue to speed up processing and add to capacity.Since the first UK test site opening at the end of March, more than 600 test sites are now in operation across the UK, with up to 40 new test sites opening every week, making the median distance people are now travelling to a test centre just 2.8 miles. The government is committed to continue expanding the capacity of the network of UK test sites and laboratories to make it even easier to get tested and reduce the time it takes to receive test results.A critical part of the government’s testing efforts is the use of new technologies and innovations, deployed in ways that will have the most impact in protecting people at risk, finding the virus and enabling life to get back to as normal as possible.As the Prime Minister has outlined, we have started a number of pilots across schools, universities and workplaces to assess the use of rapid lateral flow antigen tests. This is in addition to ongoing pilots in Southampton and Salford using the LAMP no-swab saliva test and LAMP asymptomatic testing for NHS staff.In addition to these pilots, last week new Primer Design Rapid Turnaround PCR tests were rolled out across 86 NHS Hospitals, which will provide 34,000 tests to patients each day.NHS staff have received training to use the tests within hospitals, which can deliver results within 90 minutes. The new tests will help to further strengthen the coronavirus response this winter, arming both clinicians with the ability to identify COVID-19 cases quickly and ensure the most appropriate care for patients.Interim Executive Chair of the National Institute for Health Protection Baroness Dido Harding said: Background informationAt the same time as expanding NHS and PHE capacity as quickly as possible, the government has set up a growing network of Lighthouse Labs in partnership with a variety of suppliers including NHS Trusts, commercial suppliers, and not-for-profit organisations, in order to process test samples from an entirely new network of testing sites across the UK and from new routes such as home testing and mobile units. This new network of laboratories is in additional to NHS/PHE laboratories.We have 5 Lighthouse Laboratories operating across the UK (Milton Keynes, Alderley Park, Glasgow, Cambridge and Newport). We have additional Lighthouse Laboratories in Charnwood, Newcastle, Brant’s Bridge and Plymouth coming online over the coming months.In addition to the growing Lighthouse Lab network, we have partnership agreements with Randox in Northern Ireland and a range of public, private and academic sectors.More partnership agreements with the public, private and academic sectors will see capacity grow by tens of thousands of tests in the coming months. The University of Birmingham, Health Services Laboratories in partnership with University College London, Imperial College London, Queen Mary University of London and King’s College London, will all also join the nationwide effort to increase capacity by tens of thousands over the winter.Maximum capacity is classed at around 85% in order to ensure that the system will operate safely and reliably – this approach aligns with other health and care systems.There can be a negative impact on turnaround times if labs operate at, or near, maximum capacity. To give our labs headroom to operate efficiently we have rapidly expanded our capacity, opening new laboratories around the country, allowing us to work towards a utilisation rate that will support improving turnaround times while still processing more than a million test a week.Read more information on labs.On 16 October, the Prime Minister announced the launch of test pilots in schools, universities and the NHSlast_img read more

White Denim Tears Up The Brooklyn Bowl For Two Nights [Gallery]

first_imgWhite Denim, the psychedelic rock band hailing from Austin, Texas, finished off a smokin’ two-night stand at the Brooklyn Bowl in New York City this Thursday and Friday. With the release of their sixth album, Stiff, earlier this year in January, the band was riding out the momentum of this new record and energy behind its subsequent tour. By putting on shows that appeal to a basic human desire for good times and good ol’ fashioned shred-heavy rock ‘n’ roll, White Denim had the Brooklyn Bowl going off. Their setlists across the two nights were diverse, perfectly balancing giving fans a taste of Stiff while also providing a smattering of crowd-pleasing tunes from later works, including previous popular releases like D from 2011 and Corsica Lemonade from 2013. With tight riffs and a contagious joyous energy, White Denim put on one hell of a show. You can check out videos from Thursday night below, courtesy of Youtube user TheTudd, and peep a full gallery of photos from Friday night, courtesy of photographer Andrew Blackstein.“Limited by Stature”“At The Farm” Load remaining imageslast_img read more

GRiZ Announces First-Ever Live Band Show During Two-Night Red Rocks Run

first_imgLoad remaining images GRiZ has just announced two nights at Red Rocks Amphitheatre in Morrison, Colorado! The future-funk, electronic sax-man and producer will be joined by his first-ever full-show “GRiZ live band” on September 1, followed by your traditional GRiZ set on September 2 for the 2017 installment of Griz Rocks.With 2016’s Good Will Prevail featuring guest-slots from fellow funk musicians Eric Krasno of Lettuce/Soulive, Tash Neal of the London Souls, Brasstracks, and so many more collaborators, including Cherub, Big Gigantic, SunSquabi, Artifakts, Leo Napier, and so on, the list of possible band-members are endless.On September 1 & 2, GRiZ fam will descend on the Amphitheatre. Pre-sale starts tomorrow at 10AM. More information can be found on GRiZ’s website. Watch the announcement video below:[Cover Photo by Adam Straughn]last_img read more

Student employees honored

first_imgWhen he arrived at Harvard, Max Vumbaca ’19 didn’t expect his work-study job to define his postgraduate plans. Then he started working at First Church Shelter in Cambridge, and things changed.Vumbaca, who’s concentrating in philosophy, found the position at First Church in 2018 after two years volunteering at the student-run Harvard Square Homeless Shelter. He sets up and runs a weekly dinner service for 14 shelter residents and occasionally works a 12-hour overnight shift.“I knew I wanted to do some kind of public service while at Harvard,” said Vumbaca. “Working at First Church has really influenced what kind of work I want to do after graduation and set me on the path of recognizing that housing and homelessness is a visible, pressing issue.”Vumbaca’s job is one of the many student employment experiences celebrated at the recent Harvard Student Employee of the Year event, hosted by the Student Employment Office and the Griffin Office of Financial Aid. He and 23 other students were nominated for the award by their workplace supervisors on- and off-campus. Eleanor Lieberman ’19 was this year’s winner for her work as an assistant for the Division of Academic and Public Programming at the Harvard Art Museums. Lieberman’s supervisors highlighted her creativity and professionalism in creating colorful sticker packs based on the hues found in the Museums’ Forbes Pigment Collection and an archival research project on the Naumburg Room.The event was held April 18 as part of National Student Employment Week.According to the Student Employment Office, 78 percent of students work in some capacity during their time at Harvard, and 39 percent of seniors said they started working during their first year on campus. The honorees at the event included students working in research, administration, and childcare, and representing a range of experiences and academic backgrounds.,“For many students, working is a major part of their College experience and can be a major part of their overall career trajectories,” Matthew Akre, assistant director of financial aid for student employment, told the nominees. “We look for ways to remove barriers for students while keeping in mind the demands of time that many students face day to day.”For some, working can be a way to practice skills learned in the classroom in a nonacademic setting. Nominee Salvador Peña, a master’s student at Harvard Divinity School, is a student affairs assistant at the Graduate School of Arts and Sciences’ Student Affairs Office. For about 16 hours a week, he works with graduate students who need assistance with policies and requirements on campus and while studying abroad.“It feels good to be of service and put other students at ease,” said Peña. “Most of the courses that I take for my own degree are psychology-related or spiritual-care-related counselling, and one of the things that I do at work is help people lower their stress levels and say, ‘It’s going to be fine.’ Because it is usually fine in the end.”Ikeoluwa Adeyemi’s job at the Korea Institute (KI) dovetailed with her academic pursuits as a sociology concentrator with a secondary in East Asian Studies. Adeyemi ’19 has worked as a student assistant at KI for almost three years, helping staff with event planning and execution as well as with office tasks such as inventory and mail management. In the process, she has been exposed to new scholarship on Korea and has formed relationships with faculty and staff in the field.“Everyone at the KI is kind and generous, and it’s a very flexible work environment, which is important for me as a student,” she said. “I’ve gained confidence in interacting with people in academia, and have been able to stay in touch with faculty in the East Asian Studies Department, which is valuable.”For Vumbaca, student employment was an opportunity to gain a new set of skills and expertise. During his time at First Church, Vumbaca has learned about the housing systems in Cambridge and is able to connect shelter guests to resources they might need, but he also sees the value in forming human connections with the people he meets.,“There aren’t always many people that our guests can talk to about difficult things in their lives, and I’ve become better at being a sympathetic listener and asking questions,” he said. “The more meaningful and memorable experiences are sitting down and having really intimate and difficult conversations.”At the awards celebration held at the Smith Campus Center, student employees’ contributions to the University were recognized by senior leadership, including William R. Fitzsimmons, dean of admissions and financial aidand a former student employee at Harvard.“We have such a range of things that people can do here, and you have set an example for others about the power and dignity of all kinds of work,” said Fitzsimmons, who recalled his own undergraduate experience working at several jobs, from dorm crew to Harvard Libraries. “One of the things I liked right away [when I arrived on campus] was the continuity of doing hard, honest work, and the intellectual exercise that is Harvard. I would honestly say that one of the most memorable times during my undergraduate experience was the camaraderie I had with people doing tough jobs that needed to get done.” Related At Public Interested, alumni encourage students to pursue work in public service Talia Gillis became pregnant with twins while taking on two doctoral programs center_img The power to make a difference Home and economicslast_img read more

PR Insight: Communication across the ages

first_img continue reading » The modern office is currently experiencing a situation never seen before: there are now four generations fighting to coexist in the workplace. In many offices, veterans (born before 1946), baby boomers (1946-1964), Generation Xers (1965-1979) and millennials (1980-2000) are all represented and struggling to work together in harmony.Such a wide representation of ages is leading to some unexpected complications—mainly, our ability to communicate clearly. Each generation is a product of its time, and the way the members of each express themselves often varies drastically. Add to that the fact that there are more communication channels at our disposal than ever before, and communicating only becomes more complex.Poor communication among staff may not seem like a major problem for credit unions, but in reality, it can have far-reaching effects on their public image and perception.At its core, public relations is all about effective communication. In order to frame themselves positively and accurately within the media and among the general public, credit unions must be able to craft compelling messages that resonate across various audiences. The first step is mastering internal communications to ensure that everyone at the organization can convey core messaging clearly and present a unified front when doing so. 17SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

As demand drives up pricing, first-time homebuyers work to stay on budget

first_imgHomes for sale have been short of demand in recent years, as fewer people choose to move out of their homes. While this has had a detrimental effect on first-time homebuyers, they are finding ways to overcome.During the second quarter of 2018, the inventory of previously owned homes averaged 1.87 million units, down 4% from the prior year. This decline directly accounts for half the decrease in existing home sales. Year-to-date, homes are staying on the market an average of 3.8 months; in a balanced market that figure would be around six months. This implies there should be approximately 2.7 million units on the market, a current shortfall of more than 800,000 homes. The housing market definitely benefits sellers right now, and home prices are likely to increase to their benefit.Limited inventory is accelerating price. In 2015, the increase was 5.5% compared to 7% this year. The price increases coupled with rising interest rates significantly drive up the overall price for first-time homebuyers. For example, a homebuyer purchasing their first home this year will pay 12.6% more per month for their mortgage versus purchases from one year ago (6.5% from price increases and 5.7% from increased interest rates). ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading »last_img read more