Thursday, January 3, 2013

Chavez's VP says ailing leader still 'delicate'

CARACAS, Venezuela (AP) ? Venezuela's vice president is returning home Wednesday from a visit with Hugo Chavez in Cuba and says the ailing president's condition remains "delicate" three weeks after his cancer surgery.

With rumors swirling that Chavez had taken a turn for the worse, Vice President Nicolas Maduro said Tuesday that he had met with the president twice and had spoken with him.

"He's totally conscious of the complexity of his post-operative state and he expressly asked us ... to keep the nation informed always, always with the truth, as hard as it may be in certain circumstances," Maduro said in the prerecorded interview in Havana, which was broadcast Tuesday night by the Caracas-based television network Telesur.

Both supporters and opponents of Chavez have been on edge in the past week amid shifting signals from the government about the president's health. Chavez has not been seen or heard from since the Dec. 11 operation, and officials have reported a series of ups and downs in his recovery ? the most recent, on Sunday, announcing that he faced new complications from a respiratory infection.

Maduro did not provide any new details about Chavez's complications during Tuesday's interview. But he joined other Chavez allies in urging Venezuelans to ignore gossip, saying rumors were being spread due to "the hatred of the enemies of Venezuela."

He didn't refer to any rumors in particular, though one of them circulating online had described Chavez as being in a coma.

Maduro said Chavez faces "a complex and delicate situation." But Maduro also said that when he talked with the president and looked at his face, he seemed to have "the same strength as always."

"All the time we've been hoping for his positive evolution. Sometimes he has had light improvements, sometimes stationary situations," he said.

Maduro's remarks about the president came at the end of an interview in which he praised Venezuelan government programs at length, recalled the history of the Cuban revolution and touched on what he called the long-term strength of Chavez's socialist Bolivarian Revolution movement.

He mentioned that former Cuban President Fidel Castro had been in the hospital, and praised Cuba's government effusively. "Today we're together on a single path," Maduro said.

Critics in Venezuela sounded off on Twitter while the interview was aired, some saying Maduro sounded like a mouthpiece for the Cuban government. In their messages, many Chavez opponents criticized Maduro for the dearth of information he provided, accusing him of withholding key details about Chavez's condition.

Chavez's political opponents have complained that the government hasn't told the country nearly enough about his health, and have demanded it provide the country with a full medical report.

Even some of his supporters say they wished they knew more.

"We're distressed by El Comandante's health," said Francisca Fuentes, who was walking through a downtown square with her grandchildren Tuesday. "I think they aren't telling us the whole truth. It's time for them to speak clearly. It's like when you have a sick relative and the doctor lies to you every once in a while."

Chavez has been fighting an undisclosed type of pelvic cancer since June 2011. He has declined to reveal the precise location of the tumors that have been surgically removed. The president announced on Dec. 8, two month after winning re-election, that his cancer had come back despite previous surgeries, chemotherapy and radiation treatment.

"There's nothing we can do except wait for the government to deign to say how he is really," said Daniel Jimenez, an opposition supporter who was in a square in an affluent Caracas neighborhood.

Jimenez and many other Venezuelans say it seems increasingly unlikely that Chavez can be sworn in as scheduled Jan. 10 for his new term. If he dies or is unable to continue in office, the Venezuelan Constitution says a new election should be held within 30 days.

Before his operation, Chavez acknowledged he faced risks and designated Maduro as his successor, telling supporters they should vote for the vice president if a new presidential election was necessary.

Maduro didn't discuss the upcoming inauguration plans, saying only that he is hopeful Chavez will improve.

The vice president said that Chavez "has faced an illness with courage and dignity, and he's there fighting, fighting."

"Someone asked me yesterday by text message: How is the president? And I said, 'With giant strength,'" Maduro said. He recalled taking Chavez by the hand: "He squeezed me with gigantic strength as we talked."

___

Associated Press writer Jorge Rueda contributed to this report.

___

Ian James on Twitter: http://twitter.com/ianjamesap

Source: http://news.yahoo.com/chavezs-vp-says-ailing-leader-still-delicate-072554484.html

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Wednesday, January 2, 2013

Video: Senate votes on compromise fiscal cliff package

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Source: http://video.today.msnbc.msn.com/today/50337012/

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Good News For Entrepreneurs On Fiscal Cliff: R&D Tax Credit Extended

scrooge-mcduck-make-it-rain (1)The government gave the nation's suit-and-tie mad scientists a tax break again this year, agreeing to extend the much-loved R&D tax credit. "We can't keep cutting things like basic research and new technology and still expect to succeed in a 21st-century economy," said President Obama, hailing?Congress's passage of a budget related to the so-called "fiscal cliff."

Source: http://feedproxy.google.com/~r/Techcrunch/~3/PvV7QQ47vrw/

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10 Real Estate Trends To Watch - Business Insider

Five years and 16 million foreclosures after the 2008 housing crash, most Americans have not lost faith in real estate.

In a survey this summer of more than 2,000 adults by home buyer website Trulia, 61 percent of respondents predicted that prices in their local market would rise next year, 58 percent thought prices would take 10 years or less to get back to their pre-crash peak, and almost 80 percent of current renters said they plan to buy a home someday.

Whether or not that enthusiasm has merit, the signs of a turnaround are hard to ignore.

National home prices have been on the uptick for eight straight months and jumped 6.3 percent year-over-year in October ? the largest increase since June 2006, according to CoreLogic. In California, one of the hardest-hit states, 57 percent of homes for sale have attracted multiple offers this year.

Bidding wars on houses are making a comeback in Florida, and in Phoenix, realtor Marge Peck says that ?everything under $150,000 sells in a heartbeat.?

Will that pattern hold in 2013? To find out, we talked to real estate economists and insiders and reviewed industry reports that assess next year?s outlook. Most experts said their predictions depend on the mainstream forecasts of economic growth next year being correct and assume that the economy won?t experience an earthquake from falling off the fiscal cliff.

Others emphasized that all markets are local ? real estate conditions in coastal metro areas vary wildly from those in mid-sized Midwestern towns. Those caveats aside, here are 10 real estate trends they forecast for next year.

1.?Rising home prices.

The slow pace of new-home construction is pushing prices up, a pattern that will continue in 2012, according to several sources. Calvin Schnure, an economist at the National Association of Real Estate Investment Trusts, says construction of new homes and apartments needs to be between 1.25 and 1.5 million a year just to keep up with population growth.

But since the housing crash, new construction has been at 500,000 units or fewer for 6 years running?that?s actually created a shortfall in available homes. A National Association of Realtors (NAR) report in October showed a 5.4 months? inventory of homes for sale at the current pace, 22 percent below where it was a year ago and the lowest inventory since February 2006. (A 6-month inventory is generally considered the sign of a healthy market).

?I think we?re going to look back three years from now and say that 2012 was the year the housing market turned the corner in America, says Mark Dotzour, chief economist at Texas A&M?s Real Estate Center. Overall, the NAR forecasts average home prices to rise 5 percent next year, after a projected increase of 6 percent this year.?
?
2.?Rising rents as more young people enter the market.

Schnure says there?s a shadow demand in the rental market?the 3 to 5 million people, most in their twenties and thirties, who have been riding out the shaky economy by moving back in with their parents or staying with friends. Now, as they start to get jobs, they?re looking for their own apartments.

Schnure says they represent a pent-up demand for rentals that?s twice as big in percentage terms as the country has ever seen. For next year, ?that means that for people looking to rent, good luck? it?s going to be a challenge,? he says. This year, average rents have been rising nationally at about 4 percent a year and in many metro areas by 7 to 9 percent, says Barry Habib, chief market strategist for mortgage lender Residential Finance Corporation.

A recent Zillow analysis also found that buying beats renting in 59 percent of markets after three years or less.

3.?Fewer foreclosure bargains.

The chance to snap up a bargain-basement foreclosure could be fading. Sales of those homes fell to about 11 percent of all sales in June 2012, down from about 28 percent in March 2011.In part that?s because the Federal Housing Finance Agency (FHFA), the Federal Deposit Insurance Corporation, and banks have been selling off hundreds of distressed home loans in bulk to purchasers who agree to work out new terms with borrowers rather than simply foreclosing, says Philip Feder, chair of real estate practice at global law firm Paul Hastings.

Foreclosures have also dropped because the equity position of thousands of borrowers has improved with rising home prices, righting many upside-down loans.

4.?More short sales.

Short sales are deals in which a home sells for less than what the borrower owes on the mortgage, with the bank agreeing to accept the sale in lieu of going through an expensive and time-consuming foreclosure.?On November 1, the FHFA issued new rules on short sales for Fannie Mae and Freddie Mac?among other measures, those reduce the documentation that borrowers have to show to demonstrate hardship, and borrowers now aren?t necessarily required to pay the difference between what they owe on the mortgage and the final sales price.

So while foreclosure sales will keep falling, the number of short sales should rise, says Polyana da Costa, senior mortgage analyst at Bankrate.com.

5.?More first-time home buyers.

A report from consulting firm Deloitte & Touche on key issues in commercial real estate for 2013 predicts that growth in demand for single-family homes next year will likely be driven by first-time home buyers. That trend is visible in an NAR survey of buyers and sellers released in November?39 percent of borrowers were first-timers, up from 37 percent in the 2011 survey.?
?
6.?Higher home construction costs.

Building materials like sheet rock, lumber, and copper are at high prices even though levels of home construction remain low, says Dotzour. The same is true for construction labor costs?after the crash, many qualified construction workers migrated out of the country or into other industries, he says. As a result, ?you?ve got the possibility of some pretty potent price increases in [the cost of constructing] new homes,? Dotzour says.?

7.?Property management boom.

It?s a great time to be a property manager. Earlier this year, the FHFA began selling foreclosed properties in bulk to large institutional investors who agree to hold and manage them as rentals. That intensified the trend already underway toward investors snapping up distressed properties to rent ? the number of homes purchased as investments rose 65 percent in 2011 over 2010, according to real estate data provider RealtyTrac. Many of those investors are now using professional property management companies to rent and maintain their purchases, which has created huge demand for their services, according to a July story by UPI.

8.?Rising mortgage interest rates.

Mortgage rates have been at historic lows this year, so there?s only one direction for them to go. The NAR predicts that rates will gradually rise to average 4 percent next year, up from about 3.5 percent in September of this year. The Urban Land Institute?s 2013 Emerging Trends report, which surveys industry experts, concludes that ??there?s no way the low-interest-rate environment lasts,? and your low-rate mortgage could be a ?huge future asset? as soon as interest rates begin to pop.?

9.?Easier credit standards.

On average, would-be borrowers now need a FICO credit score in the 760s to get a mortgage, much higher even than the years before the easy-credit housing boom began, according to the FHFA. That should start changing next year ? qualifying scores will start dropping as more qualified buyers come into the market and lenders compete to offer them loans, says Luis Vergara of Mission Capital Advisors in New York City.

That downward shift in standards will be strengthened if the Obama administration, as has been rumored, replaces FHFA head Ed DeMarco, a Bush-era holdover and advocate of tight credit standards, says Richard Green, head of the University of Southern California?s Lusk Center for Real Estate.

10.?Two-tiered home-building industry.

Banks have been reluctant to make construction loans ? only 22 percent of the country?s largest banks are making them, according to a 2012 survey by the Office of Comptroller of the Currency. That, says Dotzour, is producing a ?bifurcated market? ? a few publicly traded large builders with access to capital who are able to tackle big projects, and many medium and small builders who rely on loans from regional and community banks but aren?t getting the capital they need to launch projects.

The result could be more consolidation in the home building industry next year and, ultimately, less competition and higher prices for everyone.

More from The Fiscal Times:

This story was originally published by ?The Fiscal Times.

Source: http://www.businessinsider.com/10-real-estate-trends-to-watch-2012-12

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Tuesday, January 1, 2013

World looks to 2013 after violence, economic woes

Confetti flies over New York's Times Square after the clock strikes midnight during the New Year's Eve celebration as seen from the Marriott Marquis hotel Tuesday, Jan. 1, 2013 in New York. (AP Photo/Mary Altaffer)

Confetti flies over New York's Times Square after the clock strikes midnight during the New Year's Eve celebration as seen from the Marriott Marquis hotel Tuesday, Jan. 1, 2013 in New York. (AP Photo/Mary Altaffer)

Fireworks explode over Elizabeth Tower housing the Big Ben clock to celebrate the New Year in London, Tuesday, Jan. 1, 2013. (AP Photo/Kirsty Wigglesworth)

Fireworks light up San Francisco Bay as the west coast city rings in the New Year 2013. The Embarcadero was again the focal point of the New Year's celebrations as people from all over the Bay Area came to ring in the new year on Tuesday, Jan. 1, 2013. (AP Photo/San Francisco Chronicle)

Fireworks light up San Francisco Bay as the west coast city rings in the New Year 2013. The Embarcadero was again the focal point of the New Year's celebrations as people from all over the Bay Area came to ring in the new year on Tuesday, Jan. 1, 2013. (AP Photo/San Francisco Chronicle)

Confetti and other items from the New Year's festivities litters the street in New York's Times Square early Tuesday morning Jan. 1, 2013. (AP Photo/Tina Fineberg)

(AP) ? As the world rang in 2013 with spectacular fireworks displays and showers of confetti, the specter of economic uncertainty and searing violence dimmed some festivities and weighed on the minds of revelers hoping for a better year.

"With all the sadness in the country, we're looking for some good changes in 2013," Laura Concannon, of Hingham, Mass., said as she, her husband, Kevin, and his parents joined hundreds of thousands of people who celebrated the new year in Times Square on Monday.

Matias Dellanno, 37, of Buenos Aires, Argentina, stood in the middle of the square with his wife and 3-year-old son. His eyes caught the multicolored lighting illuminating the square just before midnight.

"I feel a completely new hope for 2013," he said. "It can't be any worse than last year, when my business lost clients. It was a rough year for everyone. The new year has to be better!"

Revelers with New Year's hats and sunglasses boasting "2013" packed the streets in the 35-degree cold to count down the first ball drop in decades without Dick Clark, who died in April and was honored with his name printed on confetti and on one of the crystal panels on the Times Square ball.

Syracuse University student Taylor Nanz, 18, said she and a friend had been standing in Times Square since 1:20 p.m. Monday. They hadn't moved from their spot because "if you leave, you lose your place," she said.

"It's the first time - and the last time," she said. "Never again."

Security in Times Square was tight, with a mass of uniformed police and plainclothes officers assigned to blend into the crowd. Police Commissioner Raymond Kelly claimed that Times Square would be the "safest place in the world on New Year's Eve," and officers used barriers to prevent overcrowding and checkpoints to inspect vehicles, enforce an alcohol ban and check handbags.

In the state capital of California, a midnight fireworks show was canceled after a fight at a Sacramento restaurant ended with two people fatally shot and three injured.

But in Las Vegas, police and about 300 Nevada National Guard troops kept the night peaceful, with only 13 people arrested. Sin City hosted sold-out concerts featuring Beyonc?, the Red Hot Chili Peppers and the Black Keys, and revelers jammed the Strip to watch as seven hotel-casinos unleashed identical eight-minute rooftop fireworks displays at midnight.

The celebrations on the West Coast took place nearly 24 hours after lavish fireworks displays lit up skylines in Sydney, Hong Kong and Shanghai.

In Myanmar, about 90,000 people gathered in a field to watch a countdown for the first time, according to organizers. The reformist government that took office in 2011 in the country, long under military rule, threw its first public New Year's celebration in decades.

In the United Arab Emirates city of Dubai, multicolored fireworks danced up and down the world's tallest building, the Burj Khalifa.

In Rome, Pope Benedict XVI celebrated with a vespers service in St. Peter's Basilica to give thanks for 2012 and look ahead to 2013. He said that despite all the death and injustice in the world, goodness prevails.

In Russia, spectators filled Moscow's Red Square as fireworks exploded near the Kremlin. In Rio de Janeiro, revelers dressed head-to-toe in white as dictated by Brazilian tradition flooded onto Copacabana beach for a concert.

In London, the chimes of the clock inside the Big Ben tower counted down the final seconds of 2012 and fireworks dazzled the sky above Parliament Square. Streamers shot out of the London Eye wheel and blazing rockets launched from the banks of the River Thames.

But parts of Europe held scaled-back festivities and street parties, the mood was restrained - if hopeful - for a 2013 that is projected to be a sixth straight year of recession amid Greece's worst economic crisis since World War II.

Festivities were canceled across New Delhi, the Indian capital, amid days of mourning and reflection about women's safety after a rape victim died on Saturday.

In Times Square, some revelers checked their cellphones for news of lawmakers' tentative deal to skirt the so-called "fiscal cliff," a combination of expiring tax cuts and spending cuts that threatened to reverberate globally. The U.S. Senate approved a bill to avert the cliff well after midnight, though a vote in the House was pending Tuesday or Wednesday.

The recent elementary school massacre in Newtown, Conn., and the devastation from Superstorm Sandy also mingled amid the memories of 2012.

"This has been a very eventful year, on many levels," Denise Norris said as she and her husband, the Rev. Urie Norris, surveyed the Times Square crowd waiting for the countdown show with Ryan Seacrest as host.

Seacrest remembered Clark and his legacy, saying it was one that would be continued, and that Clark himself had told him: "Seacrest, the show must go on."

Yvonne Gomez, 53, a physician from Grand Forks, N.D., glowed as she and her husband, 63-year-old potato farmer Gregg Halverson, took in the festivities in New York.

"I couldn't begin the new year in a more beautiful way," she said. "I married him two weeks ago and here we are in the middle of Times Square celebrating the new year ? two widowers who found each other."

For Elvis Rivera, of Manhattan, who stopped by Times Square to take photos, 2012 a death and job losses in his family. How did he feel about its end?

"Relieved," Rivera said.

___

Associated Press writers Hannah Drier in Las Vegas; Colleen Long in New York; Aye Aye Win in Yangon, Myanmar; Silvia Hui in London, and Ashok Sharma in New Delhi contributed to this report.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2013-01-01-New%20Year's%20Celebrations/id-5597e712cd3444d3bf66382eed261214

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Wood Patio Cover Designs | Home Improvement | Patio Design Ideas

 Wood Patio Cover DesignsThere are many designs of patio cover obtainable out there, including wood patio cover designs. If you like this type, below are a few of their benefits and drawbacks to assist you making a decision if they are definitely the best that suitable for you. These types of patio cover are the most useful options for home owners who desire magnificence as well as natural beauty. Considering the patios is placed outdoors of the residence, wooden will definitely naturally mix with the outside and may have plenty of the cozy and comfortable atmosphere from your indoors.

Moreover it?s the best materials to decide on in case you are also considering growing flowers or perhaps vines on the top as well as on the side of the patio cover. These kinds of flowers and vines will surely give more impressive result to the patio. Besides of their own magnificence and natural beauty,

wood patio cover designs

are usually liked by homeowners since they could be painted or stained along with any kind of color that fits their own choice. This characteristic makes it possible for you to fit your patio depending on the color within your house. When you finally colored your current patio cover using the colors which flesh out your entire house, you?ll absolutely enjoy the improved look that it?ll present.

Furthermore, wood covers is pretty low-cost unlike another varieties of materials utilized for patio cover. Using this method you don?t need to panic about your financial budget will be out of control, but rather have fun with the extra cost savings which you will obtain. With simply a little amount of money, you are able to set up patio cover and that can be workable for a long time. Patio cover that made from wood will surely provide you with plenty of benefits. Nevertheless, before making your final decision, you need to have a look at their disadvantages.

Wood patio cover designs

need frequently maintenance and need to be taken care of for termite and also weather resistance. Wood patio cover it must repainted frequently due to the fact that wooden colors easily fade out. Therefore, when you decide on this choice, you must be prepared for the maintenance that?s requires and be sure that you spare extra time for that. Following these benefits and drawbacks mentioned to you, now you can make a decision if these types is the proper choices for your desired patio covers or perhaps not. If you feel these aren?t, check it out in the other available choices for example fiber, acrylic or perhaps aluminum.

 Wood Patio Cover Designs

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U.S. heading off 'fiscal cliff' despite Senate efforts

WASHINGTON (Reuters) - The United States was headed over the "fiscal cliff" - at least temporarily - at midnight on Monday as time was running out for lawmakers to back a last-minute deal between the White House and Senate leaders to avert severe tax increases and spending cuts.

After months of fruitless argument between Republicans and Democrats, the White House and Senate reached an agreement that would delay harsh spending cuts by two months, administration sources said.

The Senate might hold a rare New Year's Eve vote on the plan worked out between Biden and Republican Minority Leader Mitch McConnell, but the House of Representatives is unlikely to get around to it until Tuesday at the earliest.

That would mean Congress failed to meet its own deadline to avert the "fiscal cliff," some $600 billion of tax hikes and spending cuts due to kick in on Tuesday.

The fiscal measures could push the U.S. economy into recession and roil global financial markets. But the damage would not be severe if lawmakers can at least finalize a deal in the coming days.

House approval is unsure as many of the Republicans who control the chamber complain that President Barack Obama has shown little interest in cutting government spending to try to reduce the U.S. budget deficit.

House Republicans are also likely to balk at planned tax hikes on the wealthy that were part of the agreement negotiated by Biden.

As New Year's Day approached, members were thankful that financial markets were closed, giving them a second chance to return on Tuesday to try to blunt the worst effects of the fiscal mess.

Despite the New Year's Eve deadline, there is no major difference whether a law is passed on Monday night, Tuesday or Wednesday. Legislation can be backdated to January 1, for instance, said law firm K&L Gates partner Mary Burke Baker, who spent decades at the Internal Revenue Service.

"This is sort of like twins and one being born before midnight and one being born after. I think the date that matters is the day president signs the legislation," she said.

House Republicans wished each other "Happy New Year" and left the Capitol building, but their leaders told them to avoid too much New Year partying and be available for a vote on Monday night if needed.

"We were encouraged to stay close to the Capitol and in a good state of mind," said Representative Steven LaTourette of Ohio.

The House was to convene on Tuesday at noon (1700 GMT).

(Additional reporting by Mark Felsenthal, and Rachelle Younglai; Writing by Alistair Bell and Peter Cooney)

Source: http://news.yahoo.com/u-heading-off-fiscal-cliff-despite-senate-efforts-025641568--business.html

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