Tag Archives: Memphis

Consumer Spending Up in Third Quarter

Consumerism, Economy, , , ,

The end of the third quarter produced some good economic news, sending hopes that the economic recovery is picking up momentum. According to the economic data which was released on Monday retail sales in the United States went up in September as Americans made more purchases of just about everything, from cars to electronics.

In less good news manufacturing slowed in again October in New York State, although the size of the shrinkage was not as large as September’s manufacturing slowdown.

Retail sales advanced at a pace faster than what was originally expected; 1.1 percent in September, according to Commerce Department data.

This increase in consumer spending is great news for the economy because purchasing accounts for as much as two-thirds of economic growth.

“This is a good end of (the) third quarter and we have some good momentum to the fourth quarter,” said Craig Dismuke, an economic strategist at Vining Sparks in Memphis, Tennessee.

Westwood Country’s Most Expensive College Town

Real Estate, , , ,

The area of Los Angeles where UCLA resides, known as Westwood, is the costliest college town in the United States, in terms of the cost of housing according to a recent report.

The average cost of a three- bedroom, two-bath home in Westwood costs $1.27 million. Compare that with the nation’s cheapest college town, Memphis, the home of the University of Memphis, where the average price of a three bedroom home is just under $90,000.

According to the College Home Listing Report, based on a survey of 117 of the 120 “football subdivision schools”, two thirds of the towns in the survey offered homes for under $200,000.

“I love the College Home Listing Report because it highlights the amazing affordability of the college towns that define the fabric of America,” said Coldwell Bank CEO Jim Gillespie.

“Our report underscores the home ownership opportunities in many of these vibrant, affordable communities that are known for their high energy, educational systems and often stable job markets.”