Stockholders gathering in Omaha for Annual Meeting were told by Warren Buffet that the economy is showing “significant” and persistent improvement for the first time since the financial crisis broke in 2008.
Other indications to back this up include new loan applications going up 13% in a week according to the Mortgage Bankers Association, and the FHA and VA share of home purchase applications soared above 50%, highest amount in twenty years. The PMI Risk index (tracks price decline potentials for two years out) found that out of the 50 largest markets in its latest survey, 42 showed less risk. Jumbo loans are roaring back with one major lender announcing for credit-worthy applicants, rages are dropping on jumbos to 5.7% for 30 years – the best rate ever.
One field where shortages are expected is health including registered nurses, and home health aides, nursing aides, orderlies and attendants. Many jobs in the social sector (industries covering health care and social assistance, educational services, nonprofit community and religious organizations, the performing arts, museums, libraries and government) do not require enormous physical exertion, but requiring people with commons sense and experience. Older workers might “fill the bill.” Social sector jobs represent 47 percent of total projected nonfarm payroll employment growth, according to the MetLife/Civic Ventures report.
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