NBS Bank Limited (NBS.mw) listed on the Malawi Stock Exchange under the Banking sector has released it’s 2020 abridged results.For more information about NBS Bank Limited (NBS.mw) reports, abridged reports, interim earnings results and earnings presentations, visit the NBS Bank Limited (NBS.mw) company page on AfricanFinancials.Document: NBS Bank Limited (NBS.mw) 2020 abridged results.Company ProfileNBS Bank Limited is a leading commercial bank in Malawi; providing corporate and retail banking solutions, and treasury managements products and services. The company was established in 1964 when Central Africa Building Society, Commonwealth Century Building Society and First Permanent Building Society merged to form New Building Society (NBS). The financial institution became a commercial bank in 2004 after it was issued a banking license by the Reserve Bank of Malawi. NBS Bank is a subsidiary of NICO Holdings Limited. In addition to general banking products and services for the corporate and private sector, NBS Bank provides solutions for international trade, SME loans, asset finance and mortgage loans and short- and long-term insurance products. NBS has a national network of 37 service centres, with its head office based in Blantyre, Malawi. NBS Bank is listed on the Malawi Stock Exchange
See all posts by Royston Wild I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Image source: Getty Images. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Royston Wild | Monday, 2nd November, 2020 | More on: FLTR LLOY I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Our 6 ‘Best Buys Now’ Shares “This Stock Could Be Like Buying Amazon in 1997” Enter Your Email Address Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Forget the Lloyds share price! I’d rather buy this cheap FTSE 100 share in my ISA in November Royston Wild has no position in any of the shares mentioned. The Motley Fool UK owns shares of Flutter Entertainment. The Motley Fool UK has recommended HSBC Holdings, Lloyds Banking Group, and Standard Chartered. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Simply click below to discover how you can take advantage of this. The terrible Covid-19 news flow of recent days has smacked UK shares of all shapes and sizes. Investor confidence has plummeted as forthcoming lockdown measures in Britain have cast fresh doubts over corporate profits. It shouldn’t have come as a shock to see the Lloyds (LSE: LLOY) share price in particular sinking again.The highly-cyclical FTSE 100 bank, unlike other blue-chips such as HSBC and Standard Chartered, generates almost all of its profits from these shores. So while Lloyds advised last week that it expected loan loss provisions to come in at the lower end of its estimates (£4.5bn-£5.5bn), news of the new national lockdown has put these estimates in severe jeopardy already.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Lloyds in dangerAccording to ING Bank, those fresh Covid-19 clampdowns will reduce British GDP by 6-7% in November. They threaten to play havoc in December too, and possibly beyond, should the infection rate fail to come down. And so UK shares like Lloyds should be extremely worried.The bank recorded pre-tax profit of just £620m between January and September, versus £2.6bn in the same 2019 period. Profits have collapsed due to those vast provisions, falling customer demand and rock-bottom interest rates. It looks as if Lloyds can expect more of the same for the rest of 2020 at least.This is why I’m not tempted to go dip-buying Lloyds following its fresh share price fall. Sure, at current prices of 27.5p the bank trades on a price-to-earnings (P/E) ratio of just 8 times for 2021. But this is built on broker expectations that annual earnings will rocket 180% next year. Estimates that are looking increasingly unlikely given the current trajectory of the Covid-19 crisis.What’s more, Lloyds’ monster 5.5% dividend yield for 2021 looks like it’s in even more peril. The UK share’s uncertain profits outlook is one reason why it might not restart dividends next year. Another is the possibility that the Prudential Regulatory Authority might keep its ban on British banks paying dividends to their shareholders too.A better UK shareWhy would I take a gamble on Lloyds today. Especially when there are so many other cheap, dividend-paying stocks for ISA investors like me to choose from.One UK share I’d much rather buy this November is Flutter Entertainment (LSE: FLTR). This FTSE 100 share trades on a much-heftier P/E ratio of 29 times for 2021. But I think the gambling colossus is worthy of such a meaty premium.City experts expect earnings here to rise 8% in 2021. And bright growth projections for the broader online betting market suggests investors in Flutter can — unlike owners of Lloyds shares — look forward to a long run of strong profits growth.Indeed, I’d buy this UK share before third-quarter results come out on Wednesday, 11 November. Flutter certainly impressed the market in August with news that revenues rocketed almost 50% in the first half. And I’m expecting another brilliant update this week that could send its rocketing share price even higher.
Two for the money: A David Strettle brace helped Saracens on the way to smashing 14-man Gloucester in Round 2By Alan DymockTHE FALLING anvil has proven a more effective weapon than the skipping rope in the first two weeks of the Aviva Premiership as the sturdier forces of Saracens and Northampton Saints have landed at the top of the league, while the young adventurers of Gloucester are at the bottom of the table.Saints were this week’s Friday night draw alongside Harlequins, but in the pouring rain neither side could string together enough nice passes to make anything meaningful. George North made one promising charge down the left wing, but no one was able to take a pass and give it in the legal manner that would yield a try.Coming of age: Bath fly-half George FordHarlequins’ Nick Evans’ boot looked hungover for the second week in a row and so there were only a few penalties to bother the scoreboard. It took a James Wilson try for Northampton to decide the contest, skidding to him eventually after bounding off a Quin’s face and the ground, and that ugly number was enough to seal a 13-6 victory.Elsewhere on Friday, Falcons upset their doubters by overcoming Sale – who scored via Dan Braid – with only the boots of Phil Godman and Rory Clegg. It was a win few saw coming after Sale defeated Gloucester on day one and the squeeze from the Newcastle pack on a night where little quarter was given will have brought a smile to Dean Richards’ face. On the Saturday Exeter Chiefs and London Wasps conspired to put on five tries between them, with Exeter coming out on top 30-26. It was the second close call for Wasps in the space of a week, but it was a rallying cry by an Exeter side humbled by Saints last week. Particularly impressive was Welsh winger Tom James who twice ghosted round the visiting defence. Christian Wade showed that he is still capable of cutting a rug, too, with a try of his own and bullocking breakaway Ashley Johnson made amends for a first-half yellow card by scoring in the closing minutes, but it was too little too late.Catch me if you can: London Irish winger Marland YardeTigers were down 21-7 at the break after the young fly-half and try-scorers Jonathan Joseph and Matt Banahan had punished the visitors following Logovi’i Mulipola and Tom Youngs’ yellow cards. Tigers bit back in the second with tries from Niki Goneva, Ed Slater and Steve Mafi, but Bath had the resolve to see it out in front of 11,000 feverish fans. WORCESTER, ENGLAND – SEPTEMBER 14: Marland Yarde of Irish gets away from Chris Pennell and Mike Williams of Warriors to score their first try during the Aviva Premiership match between Worcester Warriors and London Irish at Sixways Stadium on September 14, 2013 in Worcester, England. (Photo by Christopher Lee/Getty Images) LATEST RUGBY WORLD MAGAZINE SUBSCRIPTION DEALS Elsewhere, two tries from impressive starter Marland Yarde were enough to see London Irish bump past Worcester Warriors, 20-18.Finally, Bath pulled off a win against Leicester Tigers on Sunday that many saw coming, but the champions will be upset about the manner of their first-half performance while being impressed with the way Bath, and in particular George Ford, held on to secure the win.Saracens, on the other hand, dispatched Gloucester 44-12 on Sunday after bounding towards two David Strettle tries and one apiece for Joel Tomkins, Billy Vunipola and Schalk Brits. Fredie Burns hung in there and took four penalties but his side were always up against it once prop Nick Wood had been sent off for stamping on Jacques Burger with only a minute on the clock. With Gloucester working frantically and Owen Farrell seeing plenty of industry on his outside shoulder it was inevitable that the visitors from the South West were going to lose.
Employee runs online auction on intranet About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Employees as well as charities are spotting the online fundraising potential of corporate intranets. Ashley Baxter used the British Gas intranet to run an online auction of sporting memorabilia.Employees as well as charities are spotting the online fundraising potential of corporate intranets. Ashley Baxter used the British Gas intranet to run an online auction of sporting memorabilia. Within three weeks he has raised almost £500 for the Cystic Fibrosis Trust. British Gas employees from around the country have bid up to £60 for lots such as a a pair of VIP tickets to Rochdale FC and a ticket to any Lancashire Cricket Club fixture at £55.Read Online auction boosts charity at Manchester Online. Advertisement 11 total views, 1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Howard Lake | 28 February 2002 | News
Culture Online makes first grant announcements Advertisement 16 total views, 2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Howard Lake | 1 November 2003 | News About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving. The government’s initiative to link technology, the arts and education, has announced its first grants.Culture Online will fund up to 30 projects over the next year with its £13 million budget. The first seven recipients of grants have been announced by Arts Minister Estelle Morris. They include Every Object Tells a Story, an initiative to help people make connections between their personal possessions and objects and those in museums. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis
Tagged with: Age UK Fundraising Standards Board Law / policy Melanie May | 29 March 2016 | News About Melanie May Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via www.thepurplepim.com. The case has now been referred to the Information Commissioner’s Office (ICO).The full adjudication report is available on the FRSB’s latest adjudications webpage. 97 total views, 1 views today The FRSB has ruled that Age UK breached the Code of Fundraising Practice by calling an individual registered with the Telephone Preference Service (TPS).The charity called the complainant in April 2015 to ask him to consider leaving a gift to the charity in his Will. The complainant raised his concerns to the charity about both the sensitive subject matter of what he considered to be a ‘cold and unsolicited call’ and the fact that he had received a telephone marketing call despite being registered with the TPS. The matter was subsequently referred to the FRSB, leading to an adjudication on 18 February 2016.Age UK maintained that it had a sufficiently established relationship with the complainant to believe that it was not required to check the individual’s details against the TPS register. While the complainant had never donated to the charity, he had requested a ‘Will Information Pack’ in 2002 from Help the Aged, signed up for an energy product through Age UK Enterprises in 2010 (which he cancelled in 2014) and requested a motor insurance quote from the same company in 2015. On requesting the Will pack, the complainant did not provide his telephone number nor tick the box opting out of further contact from the charity.The FRSB concluded that, since the complainant had never been a donor to the charity, and had only ever had a limited interaction with it, the relationship was not sufficient to warrant overriding TPS registration with a fundraising call. As such, the FRSB found Age UK in breach of the marketing calls clause 8.2.3(b) of the Code.The FRSB also reported that the charity had breached data processing, use of personal data and consent requirements by failing to provide clear opt out statements or to update data records and had misled the complainant over how his contact details might be used in future.In light of the complainant’s concerns about the sensitive subject matter of the call, the FRSB ruled that the charity had breached the Code.The FRSB instructed Age UK to:Ensure that all future opt out statements clearly outline how an individual’s contact details will be used by Age UK and provide convenient opportunities for individuals to opt out of future contact.Conduct regular reviews of its fundraising database and take steps to ensure that individuals who have not proactively engaged as donors with the charity for a number of years are removed from future contact lists.Issue a formal, written apology to the complainant, signed by an Age UK Director.Andrew Hind, chair of the Fundraising Standards Board, said:“Charities need to be diligent in ensuring that they are only communicating with those who genuinely want to hear from them. When consent is given, charities cannot assume that an individual is happy to continue receiving correspondence for many years afterwards, in the absence of a complaint or a specific request to opt out.“Changes to the Code of Fundraising Practice since last summer reinforce the importance of providing clear and easy ways for the public to opt out of fundraising contact and to always observe data protection requirements.” Advertisement FRSB rules Age UK breached Code by calling TPS-registered individual 98 total views, 2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis
Protests led by immigrant rights organizations have taken place from coast-to-coast following the Sept. 5 announcement by Trump administration attorney general and archracist, Jeff Sessions, to end the Delayed Action on Childhood Arrivals program. Begun in 2012, DACA gave 800,000 young immigrants, the “Dreamers” — who were brought here as children — the right to stay, study and work in the U.S., without the threat of deportation.Sessions announced the elimination of DACA and warned these young immigrants, who have done nothing wrong and who work, pay taxes, study, have families and are tied to communities in the U.S., that they must plan to leave the country in six months. In a further attack on the rights of DACA recipients, confidential information given by them to the government is now being used against them by Immigration, Customs and Enforcement for the purpose of deportation.This hostile, racist action by the Trump administration is an intensification of its aggressive war on immigrants, especially people of color. The bigot in chief in the White House began his election campaign with outrageous slanders against Mexican people and a pledge to build a wall between the U.S. and Mexico. Then he imposed a travel ban against people from Muslim countries.Moreover, ICE is currently deporting undocumented immigrants at twice the rate of a year ago. Five million immigrant families are at risk of being torn apart by deportations; 5 million children face losing a parent by forced expulsion.Many progressive organizations, labor unions, faith-based groups and elected officials have expressed solidarity with the young people who will lose DACA protection, in many cases joining them in the streets. It is a good sign that officials of the United Auto Workers, Service Employees Union, UNITE HERE! and other labor unions have denounced DACA’s termination.However, it is crucial that all these forces and more show solidarity with, and support the right of, all 11 million undocumented workers, students and family members to remain in the U.S. Yes, a strong demand should be to uphold and expand DACA. And supporters should also call for full legal and civil rights for all undocumented immigrants in this country, so they can live, work, study and take care of their families, free of ICE harassment and deportation.Here are highlights of protests against the administration’s decree to eliminate DACA, in addition to the many held in Washington, D.C.California Los AngelesOver 10,000 Dreamers and their supporters filled the streets of Los Angeles on Sept. 10 to demand DACA protections. The march, which was organized by a coalition of groups, began with a rally at MacArthur Park and then snaked through the streets to Echo Park. Everyone chanted, “If they won’t let us ‘dream,’ then we won’t let them sleep!” and “El pueblo UNIDO jamas sera vencido!” (The people united will never be defeated.)After the Echo Park rally, thousands of protesters finished the four-hour demonstration at the historic downtown Placita Olvera. They all pledged to fight on to stop the deportations and protect DACA, with the slogan, “No hate, no fear! Immigrants and refugees are welcome here!”— Maggie VascassennoChanting “undocumented and unafraid,” thousands of Bay Area youth and their supporters took to the streets to loudly protest the Trump administration’s decision to end the DACA program. In San Francisco, on Sept. 5, the day of the decision, over 3,000 protesters took over the streets in front of the federal building. The rally was led by young Dreamers.San Francisco Bay AreaIn Oakland on Sept. 9, nearly 500 people gathered at Oscar Grant Plaza for a speakout by Dreamers. This rally was followed by a march through the downtown area to demand, “No bans, no walls, sanctuary for all!” Organizers at both actions promised to continue to build resistance against the decision to end DACA and to overturn all of the racist, xenophobic, anti-LGBTQ, anti-worker and inhumane policies emanating from the White House and Washington, D.C.— Judy GreenspanTexas HoustonThe day after Trump took their dreams away, hundreds marched and rallied in Houston to say, “We’re undocumented and here to stay!” The protest was organized by the Brown Berets de TejAztlan. César Espinosa, who is with Familias Inmigrantes y Estudiantes en Lucha, set the mood when he proclaimed: “We Dreamers will continue to realize our dreams.” As the march wound its way to City Hall, motorists honked and waved their support.— Gloria RubacWisconsinMilwaukee, Wis.Hundreds marched in Milwaukee on Sept. 6 in a protest sponsored by the Young Peoples Resistance Committee and endorsed by numerous labor, student and faith-based organizations.Racine, Wis.Hundreds marched in Racine on Sept. 5 to register their outrage over the Trump administration’s decision to end the DACA program. The lead banner was held by a group that had been on a hunger strike since the previous week to pressure Rep. Paul Ryan to push for a legislative overturn of Trump’s unilateral action. Voces de la Frontera and Youth Empowered in the Struggle sponsored the protest.— Workers World Wisconsin bureauIllinois Prison in Chicago.Prisoners at the Metropolitan Correctional Center, a federal prison in Chicago which holds many undocumented prisoners, cheered in support of a Sept. 5 demonstration of over 5,000 people protesting Trump’s announced termination of the DACA program.— Jeff SorelGeorgia Hundreds of youth, their families and community supporters gathered in front of the ICE building in downtown Atlanta on Sept. 4 to demand the continuation of DACA. The protest was organized by the Georgia Undocumented Youth Alliance, as well as many other groups, including Freedom University, Georgia Latino Alliance for Human Rights and Asian Americans Advancing Justice Atlanta.The large crowd then marched to the Atlanta City Detention Center, which jails hundreds of poor men and women and also contracts out cells to ICE for immigrant detention. Demonstrators could see the waving hands and upraised fists of prisoners as they responded to the chants, signs and speeches passionately demanding justice, equality and freedom.DACA recipients, undocumented workers, whole families of immigrants and those with citizenship papers made clear that the fight to win legal status and defeat anti-immigrant bigotry will not be derailed by any action of the Trump administration. The mood was defiant and unified.Over 24,000 DACA recipients in Georgia are students and/or workers. Under this program, many have graduated from colleges elsewhere due to draconian anti-immigrant laws that require them to pay out-of-state tuition at public institutions here. The ability to drive and work legally has allowed DACA youth to help sustain their families.— Dianne MathiowetzPennsylvaniaPhiladelphia“DACA si! Migra no!” was chanted by 200 people, including labor unionists, in an important show of unity against white supremacy outside Department of Justice offices in Philadelphia on Sept. 5. They gathered to support undocumented workers and students as they awaited the Trump administration’s decision on DACA. Sessions’ announcement of plans to dismantle DACA puts these young people at increased risk of deportation.Several rally speakers, including people directly impacted by DACA’s elimination, denounced Trump and Sessions for repeatedly standing with white supremacists and against people of color. Speakers noted thatright-wing attacks, including in Charlottesville, Va., actually result in building working-class unity. On the program were union representatives speaking for UNITE HERE, Service Employees Union, Philadelphia Teachers Federation and Working Educators. Philadelphia City Council members and Pennsylvania state representatives also spoke.As Sessions gave the anti-immigrant announcement in Washington, rally participants took to the streets with chants loudly denouncing deportation, racism and increased repression of Black and Brown communities. The march, warmly greeted by people in Center City, ended outside the federal prison and ICE offices with a chant, “You build a wall, we’ll tear it down!”— Betsey PietteNew York stateNew York CityThousands of people demonstrated on Fifth Avenue near Trump Tower in New York City on Sept. 5 to defend the Dreamers. Then they marched to Fifth Avenue and 57th Street where they blocked traffic. Several arrests were made when young militants carried out a civil disobedience action, “DACA Fight Back Midtown Shutdown!”At the city’s Labor Day protest on Sept. 9, there was support for immigrant workers. The NYC Central Labor Council, AFL-CIO, distributed signs supporting DACA. The Professional Staff Congress/City University of New York had placards reading, “Immigrant rights are workers’ rights!”Many other local demonstrations have been held since Sept. 5, including on Sept. 9, to support the Dreamers. They called on the Trump administration to retain the DACA program.— WW New York bureauRochester, N.Y.A large crowd gathered in front of the federal building in downtown Rochester to defend DACA and obtain justice for all immigrants. The action was organized by the Workers Justice Center, with many community groups participating, including Workers World.— Gene ClancyMassachusetts Cambridge, Mass.In Cambridge, 31 professors from Harvard University and Boston-area colleges were arrested on Sept. 7 when they blocked traffic-laden Massachusetts Avenue to protest Trump’s attack on DACA. Because their students include those affected by the DACA repeal, they were demanding the youth be given a pathway to legalization.Forming a human chain, the professors were supported by 300 protesters, including members of UNITE HERE! Local 26 which represents dining hall workers and Service Employees Union Local 32BJ which represents custodians and guards. Both unions have members who are under Temporary Protected Status. They have vowed to defend their DACA workers and the students on campus.— WW Boston bureauPHOTOS: Maggie Vascassenno in Los Angeles; Judy Greenspan in the San Francisco Bay Area; Gloria Rubac in Houston; Joe Brusky in Milwaukee and Racine, Wis., Xiuhcoatl Macehualtin in Chicago; Joseph Piette in Philadelphia; Anne Pruden in New York City; Lydia Bayoneta in Rochester, N.Y.; Christine Mitchell in Cambridge, Mass.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare this
Previous: How a New Law Affects Ginnie Mae’s VA Securities Next: Measuring Millennial Housing Debt Monday was not a good day on Wall Street. Following comments by President Donald Trump, who added logs to an already growing fire that is a trade war with China as he announced plans for a 10% tariff on $300 billion worth of Chinese imports to begin September 1, the Dow Jones fell 767 points, the S&P 500 slid almost 3%, and the Nasdaq dropped more than 3%. Chinese officials then added gasoline to the fire, by letting the yuan drop to its lowest level against the U.S. dollar in more than a decade. Trump tweeted the following in reaction to the yuan’s historic fall: “China dropped the price of their currency to an almost historic low. It’s called ‘currency manipulation.’ Are you listening Federal Reserve? This is a major violation, which will greatly weaken China over time!” While the market began its recovery on Tuesday—Dow Jones traded 57 points higher, S&P 500 increased 0.3%, and the Nasdaq grew 0.4%—its impact on the housing market is a bit more complicated. “Sharp and deep stock declines reduce confidence among all players in the economy. As such, potential homebuyers may become more cautious about making such a significant and long term financial commitment,” said Tendayi Kapfidze, LendingTree’s Chief Economist. “Others may see their down payment funds decline if they were keeping some of the money in the stock market. The stock decline is accompanied by a significant decline in interest rates so this makes the monthly payments more affordable for buyers who chose to follow through.”Danielle Hale, Chief Economist of realtor.com, said the biggest victims of the market’s decline are luxury homes, since they have “considerably more exposure to stock investments.” Data from Redfin revealed the market for luxury homes increased, although slightly, in Q2 2019. Average sales prices for luxury homes grew 1% year-over-year to $1.64 million, bouncing back from a 1.7% drop in Q1 2019. “However, a possible secondary impact on the broader housing market can happen if the stock drop hits consumer confidence,” Hale said. “Even though most Americans have fairly minimal exposure to the stock market, its performance is widely covered in financial and mainstream news, and thus a prolonged or severe drop in the markets can rattle the confidence of consumers and homebuyers even if they have little direct exposure to stocks. So far, confidence has remained high, but the situation is still developing.” Kapfidze said tariffs on Chinese goods, specifically those related to homebuilding, will be passed through the cost of new construction and renovations. He added the sector that could be hit the hardest are lower-priced homes, as “thin margins on lower-priced homes will shrink further.” “This will exacerbate the inventory challenge at the lower end of the housing market, accelerating prices here beyond the added tariff expense, and worsening the affordability and availability problems in this part of the market,” Kapfidze said. A report by the National Association of Home Builders (NAHB) in June stated the tariffs on $10 billion worth of materials has contributed to the nation’s affordability issues. The NAHB states that regulations account for 25% of the price of a single-family home. “Removing regulatory barriers that contribute to the increased costs of housing will pave the way to homeownership,” said NAHB Chairman Greg Ugalde, a builder and developer from Torrington, Connecticut. “Home builders and the residential construction community are committed to working with Congress to ensure homeownership is within reach of hard working families.”Hale added that while companies can initially absorb increased costs, prolonged tariffs will “eventually be passed onto consumers in the form of higher costs.” “Even if the building materials can ultimately be sourced domestically, the higher costs will be passed on to consumers, making it more challenging for builders to build affordably,” she said. The fall of the yuan could have a positive impact on the U.S. dollar, according to Kapfidze, who added an ongoing trade war will likely strengthen the U.S. dollar as investors seek greener pastures. Information by the National Association of Realtors (NAR) found that the total value of homes purchased by foreign buyers from April 2018 to March 2019 fell 36%. Investment by Chinese buyers saw the biggest decline, with investors buying $13.4 billion over the past year—a 56% annual decline. “The trade war has already resulted in a significant devaluation of the yuan, which has a huge impact on the calculus of investing in real estate in the United States,” Hale said. “This will certainly dampen demand from Chinese buyers. It remains to be seen what impact this will have on buyers from other countries. The dollar and U.S. real estate continue to perform solidly, and this will attract investors looking for long-term performance despite the fact that they may face higher buy-in costs.”While the market will attract foreign investors, Hale added that trade issues will have an impact on affordability. Although tariffs will raise prices of building materials and appliances, Hale said mortgage rates could fall due to economic turmoil. “Mortgage rates have already declined notably and are likely to continue to remain low as long as the uncertainty and trade turmoil persists,” Hale said. “This will help buyers looking to finance their home purchase, a benefit to primary home buyers, who typically finance, whereas second homes, investors, and international buyers, who tend to use cash, may not buy as many homes at higher prices.”CNBC reported Monday that the average rate for a 30-year fixed-rate mortgage fell to 3.7%. Moving forward, Kapfidze said it best, noting, “nobody knows what will happen” and that time is running out for a deal that will support the economy in time for the 2020 election. “Even if a deal were reached at the next scheduled meeting in September, it would take time for the details to be ironed out and thus the disruptions to supply chains would continue,” he said. “Thus, even a good deal could be viewed as a failure during the next election as it won’t have had time to work.” Kapfidze said the President is “getting more desperate” for deeper and faster rate cuts from the Feds, who slashed rates for the first time in nearly a decade on July 31. “Thus the overall rate situation for housing will improve, but the turmoil will a blow to confidence,” Kapfidze said. “Confidence should trump rates and thus I’d expect some weakness in housing from this point.” About Author: Mike Albanese The Best Markets For Residential Property Investors 2 days ago Tagged with: Housing Market 2019 Investors Stocks Demand Propels Home Prices Upward 2 days ago Housing Market 2019 Investors Stocks 2019-08-06 Mike Albanese Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. Related Articles Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago What Do Trade Tensions with China Mean for Housing? August 6, 2019 2,295 Views Print This Post The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Government, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / What Do Trade Tensions with China Mean for Housing? 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Masked men attempt to have ‘package’ delivered to Strand Road police station 75 positive cases of Covid confirmed in North Main Evening News, Sport and Obituaries Tuesday May 25th By News Highland – November 24, 2013 Twitter Gardai continue to investigate Kilmacrennan fire Pinterest WhatsApp Facebook Detectives at Strand Road are appealing for witnesses following an incident in the Creggan area on Saturday 23 November.At approximately 8 pm the driver of a fast food delivery van was approached by two men with scarves over their faces whilst making a delivery to a house in the High Park area. They intimated that they wanted him to deliver a package to Strand Road Police Station.At this point the driver fled on foot and left his van in the area.The van was subsequently taken away from the area by police for forensic examination.The incident is similar to another on Thursday last. A masked man boarded a bus at around 6pm in the Ballymagroarty area and ordered the driver to take a bomb to Strand Road PSNI station.The bus was then abandoned by the driver on Northland Road.Over 40 families in the Foyle Springs area were evacuated from their homes as a result, and were only allowed to return early the next morning. Google+ News RELATED ARTICLESMORE FROM AUTHOR WhatsApp Previous articlePositive response to calls for payment of outstanding chargesNext articleDoherty rules himself out of any Sinn Fein leadership contest News Highland Pinterest Twitter 365 additional cases of Covid-19 in Republic Facebook Further drop in people receiving PUP in Donegal Google+ Man arrested on suspicion of drugs and criminal property offences in Derry