Category: News

A new report released Thursday shows that first-time homebuyers bought fewer homes than the previous year for the first time since 2014. The report from Genworth Mortgage Insurance, an operating segment of Genworth Financial, Inc. (NYSE: GNW), says that the number of loans for owner-occupied homes dropped 2% from a year ago.

“This quarter’s decline in first-time homebuyer sales reflects a slowdown in cyclical momentum as the first-time homebuyer market approached its historical norms. It also reflects a shortage of available homes priced at or below the median first-time homebuyer market price of $250,000,” said Tian Liu, Chief Economist, Genworth Mortgage Insurance. “While for the first time since 2014 first-time homebuyer demand is slightly easing, supply pressures will continue to drive price appreciation and freeze out a large percentage of the 2.7 million first-time homebuyers who are still missing from the market.”

Among new single-family homes, homebuilders reported rapid sales growth in homes priced between $250,000 and $300,000, an increase of 17 percent from the first quarter of 2017 (the median first-time homebuyer price range is $250,000 and below).

Supply pressure from home sales without financing (all-cash transactions) and purchase loans made by investors were up 11,000 units, or three percent from a year ago suggesting an increase in speculative demand and otherwise a more competitive environment among potential homebuyers. This increased demand is creating an affordability crisis for many first-time home buyers who typically purchase homes for $250,000 or less – a crisis that some builders are working to abate.

“Despite the current headwinds, we have begun to see an acceleration of homes built at slightly lower price points, a change from the homebuilding at higher price points we have been seeing,” Tien said. “We see this as a positive market change that will support an increase of first-time homebuyer purchases and lead to fewer buyers being priced out of the market. If this trend gains meaningful traction, new construction will play a larger role in meeting first-time homebuyer demand.”

“To address the housing supply inadequacies, we call on policymakers to encourage production of new homes at lower price points by abstaining from regulations that restrict affordable housing,” he added.

Q1’18 Overview

• First-time homebuyers purchased 411,000 single-family homes, a decline of two percent from the first quarter of 2017.
• First-time homebuyers accounted for 37 percent of single-family homes sold and 57 percent of purchase mortgages financed.
• Home sales without financing (all-cash transactions) and purchase loans made by investors were up 11,000 units, or three percent from a year ago suggesting an increase in speculative demand and otherwise a more competitive environment among potential homebuyers.
• For the first time since the first quarter of 2012, home sales grew faster than home purchase originations. The number of purchase loans for the purchase of owner-occupied homes were down 2 percent from a year ago, while home sales stayed flat.
• In the first quarter, 81 percent of first-time homebuyers used low down payment mortgages, while only 19 percent used high down payment mortgages.
• Low down payment mortgages financed 332,000 home sales to first-time homebuyers, a one percent decline from a year ago, and represented 69 percent of purchase loans originated, the highest since the first quarter of 2010.
• Conventional loans with mortgage insurance financed 127,000 home sales to first-time homebuyers, an 18 percent increase from a year ago, marking the 27^th consecutive quarter of growth for the mortgage insurance industry and the best first quarter since 1995.
• Among new single-family homes, homebuilders reported rapid sales growth in homes priced between $250,000 and $300,000, an increase of 17 percent from the first quarter of 2017 (the median first-time homebuyer price range is $250,000 and below).

2018 Macro Outlook 

• Higher mortgage rates have increased the cost of financing, and may have contributed to lower home sales.
• Despite the increased homebuilding activities at the “lower” end of the market, the supply response has been insufficient in easing inventory pressure.
• Contrary to most forecasts, we believe that strong first-time homebuyer demand and an insufficient supply increase will keep home prices growing at their current pace.
• Housing supply will continue to expand to meet the strong first-time homebuyer demand. In addition to new construction, we will also likely see the conversion of rental units back to owner-occupied properties, lower vacancy rates, and increased remodeling activities.

A new television channel geared to young adults in the 15-34 demographic will be unveiled this summer.

Touted as a new network designed to disrupt conventional wisdom, pivot will be available both through cable and on via internet subscription.  It will be the first channel to offer a stand-alone app for access. Pivot will offer a variety of programming, including shows geared to social issues and news, as well as, entertainment including some original series.

The brain child of Participant Media, pivot expects to reach 40 million homes when it debuts on August 1. Participant Media has been successful with many of its past endeavors including films like: “The Help,” “Charlie Wilson’s War,” “An Inconvenient Truth” and “Lincoln.”

From their press release: With 40+ million subscribers at launch, pivot’s programming slate is anchored by more than 300 hours of original programming in its first year.  The network’s first six greenlit series are: “TakePart Live,” a live talk show, five nights a week; “HitRECord on TV!,” a re-imagination of the variety show from director/creator/star Joseph Gordon-Levitt and executive producer Brian Graden; “Raising McCain,” a genre-bending docu-talk series starring and executive produced by the complex and accomplished Meghan McCain with Go Go Luckey Entertainment;“WILL,” a modern period drama from Craig Pearce, writer of “Moulin Rouge” and “The Great Gatsby”; “Jersey Strong,” a real reality series from Peabody Award-winners Marc Levin and Mark Benjamin.

The network will co-produce with Univision News and Latin World Entertainment ten, one-hour documentaries that will air on pivot in English and Univision in Spanish.

For more information and a preview of the programming visit the Participant Media website or watch their ad:

Recent changes in tax law mean that many in uniform could see big returns when they file their 2018 taxes.

“This last tax year has been quite exciting with all of the changes that occurred to it,” said Army Lt. Col. David Dulaney, executive director of the Armed Forces Tax Council. “The good news is that most of our service members should see a substantial reduction in their overall federal taxes for 2018.”

One way service members can maximize their tax refund is to log onto Military OneSource and take advantage of MilTax, a free suite of services designed specifically for service members. MilTax includes personalized support from tax consultants and easy-to-use tax preparation and e-filing software.

• • MilTax is available to active-duty, reserve and National Guard service members. Additionally, thanks to new language in the National Defense Authorization Act, “service” has been expanded to included transitioning service members — those who have separated or retired will be able to make use of MilTax for up to a year after leaving the military.
  • MilTax is available through www.militaryonesource.mil and includes online tax preparation software designed specifically for military personnel and the unique circumstances that surround military life.
  • Through Military OneSource and MilTax, service members have access to expert tax consultants specially trained to address tax issues related to military service. During tax season, consultants are available seven days a week from 7 a.m. to 11 p.m. in the Eastern time zone at 800-342-9647.
  • Using MilTax, eligible individuals can file one federal and up to three state tax returns through the Military OneSource website. The service is available now through Oct. 15, 2019, for extended filers.
  • At some installations, the Volunteer Income Tax Assistance program, or VITA, allows service members to sit down face to face with a tax professional to help prepare their tax forms.
  • All service members are required to pay taxes. Military service doesn’t mean service members don’t have to pay. Fortunately, MilTax is free to those eligible to use it.

“One of the worst things we can hear is a military service member went out and paid for tax services that we provide for free through the DOD,” said Erika R. Slaton, program deputy for Military OneSource. “We want to ensure our service members and families know they are supported and we provide the best possible support for them in completing their tax services.”

Click here for information on changes to tax laws that affect service members and their spouses.

Not all Christmas trees remain standing for long. Here is a fun mashup of Christmas tree fails, where they end up in flames or clobber a small child.

Check out the tree the cat brings down, the one that catches on fire, and the woman who falls off the treadmill into hers.

There’s even one that falls on a minister during a church service, as well as a stimulation video that shows how fast a dry tree can catch on fire in comparison to a watered tree.

Why do online shoppers have to take special precautions?

The Internet offers convenience not available from other shopping outlets. From the comfort of your home, you can search for items from multiple vendors, compare prices with a few mouse clicks, and make purchases without waiting in line. However, the Internet is also convenient for attackers, giving them multiple ways to access the personal and financial information of unsuspecting shoppers. Attackers who are able to obtain this information may use it for their own financial gain, either by making purchases themselves or by selling the information to someone else.

How do attackers target online shoppers?

There are three common ways that attackers can take advantage of online shoppers:

• Creating fraudulent sites and email messages – Unlike traditional shopping, where you know that a store is actually the store it claims to be, attackers can create malicious websites or email messages that appear to be legitimate. Attackers may also misrepresent themselves as charities, especially after natural disasters or during holiday seasons. Attackers create these malicious sites and email messages to try to convince you to supply personal and financial information.
• Intercepting insecure transactions – If a vendor does not use encryption, an attacker may be able to intercept your information as it is transmitted.
• Targeting vulnerable computers – If you do not take steps to protect your computer from viruses or other malicious code, an attacker may be able to gain access to your computer and all of the information on it. It is also important for vendors to protect their computers to prevent attackers from accessing customer databases.

How can you protect yourself?

• Do business with reputable vendors – Before providing any personal or financial information, make sure that you are interacting with a reputable, established vendor. Some attackers may try to trick you by creating malicious websites that appear to be legitimate, so you should verify the legitimacy before supplying any information. (See Avoiding Social Engineering and Phishing Attacks and Understanding Web Site Certificates for more information.) Attackers may obtain a site certificate for a malicious website to appear more authentic, so review the certificate information, particularly the “issued to” information. Locate and note phone numbers and physical addresses of vendors in case there is a problem with your transaction or your bill.
• Make sure your information is being encrypted – Many sites use secure sockets layer (SSL) to encrypt information. Indications that your information will be encrypted include a URL that begins with “https:” instead of “http:” and a padlock icon. If the padlock is closed, the information is encrypted. The location of the icon varies by browser; for example, it may be to the right of the address bar or at the bottom of the window. Some attackers try to trick users by adding a fake padlock icon, so make sure that the icon is in the appropriate location for your browser.
• Be wary of emails requesting information – Attackers may attempt to gather information by sending emails requesting that you confirm purchase or account information. (See Avoiding Social Engineering and Phishing Attacks.) Legitimate businesses will not solicit this type of information through email. Do not provide sensitive information through email. If you receive an unsolicited email from a business, instead of clicking on the provided link, directly log on to the authentic website by typing the address yourself. (See Recognizing and Avoiding Email Scams.)
• Use a credit card – There are laws to limit your liability for fraudulent credit card charges, but you may not have the same level of protection for your debit cards. Additionally, because a debit card draws money directly from your bank account, unauthorized charges could leave you with insufficient funds to pay other bills. You can minimize potential damage by using a single, low-limit credit card to making all of your online purchases. Also use a credit card when using a payment gateway such as PayPal, Google Wallet, or Apple Pay.
• Check your shopping app settings – Look for apps that tell you what they do with your data and how they keep it secure. Keep in mind that there is no legal limit on your liability with money stored in a shopping app (or on a gift card). Unless otherwise stated under the terms of service, you are responsible for all charges made through your shopping app.
• Check your statements – Keep a record of your purchases and copies of confirmation pages, and compare them to your bank statements. If there is a discrepancy, report it immediately. (See Preventing and Responding to Identity Theft.)
• Check privacy policies – Before providing personal or financial information, check the website’s privacy policy. Make sure you understand how your information will be stored and used. (See Protecting Your Privacy.)

“Our destiny, beyond the Earth, is not only a matter of national identity, but a matter of national security.”

–President Donald J. Trump

The establishment of the U.S. Space Force will help ensure the United States is postured to deter aggression and outpace potential adversaries in order to protect and defend our national interests in the face of a changing space environment and growing threats.

• • Fundamentally transform our approach to space
  • Establish the U.S. Space Force 
  • Maximize warfighting capacity and advocacy for space
  • Outpace future threats 
  • Defend our vital national interests in space 

The Defense Department has forwarded to Congress a proposal to create the U.S. Space Force — the sixth branch of the armed forces, officials at the Pentagon said today.

Space is a vital national interest, and the Defense Department seeks to maintain America’s comparative advantage in this new domain of great power competition, officials said. To that end, they explained, DOD has proposed that the U.S. Space Force initially be established as a new military service within the Department of the Air Force.

In this model, the new military service would have a similar relationship to the Department of the Air Force that the Marine Corps has with the Department of the Navy. A uniformed four-star Space Force (chief of staff who would be granted full membership in the Joint Chiefs of Staff. Additionally, the proposal calls for a new undersecretary of the Air Force for space, who would provide dedicated civilian supervision of the USSF, under the direction of the secretary of the Air Force.

Many nations have advanced their space capabilities and are actively looking for ways to deny America’s access to this critical domain. China and Russia have developed anti-satellite capabilities, and other nations — such as North Korea and Iran — are developing assets designed to negate American advantages.

“It is imperative that the United States adapt its national security organizations, policies, doctrine and capabilities to deter aggression and protect our interests,” President Donald J. Trump said in a directive he signed Feb. 19.

If Congress passes the proposal, the U.S. Space Force would be authorized to organize, train, and equip military and civilian personnel “to ensure unfettered access to and freedom to operate in space and to provide vital capabilities to joint and coalition forces in peacetime and across the spectrum of conflict,” the proposal says.

The proposal indicates that stand-up of the U.S. Space Force would be phased over five years – fiscal year 2020 to fiscal year 2024. During this period, the preponderance of space missions, capabilities, and associated personnel residing in the existing military services, including the Air Force, would transfer into the U.S. Space Force, under the direction and final approval of the secretary of defense.

Full Text of the DoD Proposal

UNITED-STATES-SPACE-FORCE-LEGISLATIVE-PROPOSAL

Strategic Overview

UNITED-STATES-SPACE-FORCE-STRATEGIC-OVERVIEW

Fact Sheet

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Frequently Asked Questions

SPACE-FORCE-FAQ

Threat Assessment

Defense Intelligence Agency Threat Assessment

Click:wordle

3 Iraqi refugees were arrested in Northern Germany, for preparing a terrorist attack. 2 of the 3 suspects reportedly created homemade bombs and plotted to either commit an armed or vehicle attack.

German authorities had been investigating the two 23-year-old and one 36-year-old Iraqi refugees months before their arrest in Schleswig Holstein.

Investigators said that the two younger suspects downloaded bomb-making instructions on the internet and tried to purchase a bomb detonation device from the UK but British authorities stopped the purchase. The three also tried to purchase 9mm handguns but found it too expensive and turned their focus to committing a vehicle attack.

One of the 23-year-olds took driving lessons at the beginning of January. The 3 terrorists sought to “carry out an Islamist motivated attack in Germany,” prosecutors said.

“Further investigations must determine whether the accused are tied to any terrorist organization,” they added.

It is unclear what if any actions the federal government in Berlin will take in light of this failed attack, but the leading opposition group, Alternative for Germany, is expected to use the incident to influence the public that to push for change in Germany’s controversial open door immigration policy, and to push the post-Merkel Christian Democratic Union (CDU) further to the right on immigration.

A report out Monday finds that the Toys product group on Amazon.com sold an estimated $510M for Q3 2018, up 30% from last year. Amazon.co.uk Toy sales also witnessed a significant year-over-year growth of 15% with total estimated sales reaching £60M.

Edge’s Market Share research reveals that Outdoor Play, Toys for Adults and Automotive toy trends will carry Amazon into the new year as one of the biggest toy sellers in America. Additionally, Edge predicts that 2019 will be the year Amazon expands its private brand strategy to include the toys category. To get the latest Q4 update on Amazon’s private and exclusive brands sales and strategy, read Edge by Ascential’s report here: Amazon.com Private Labels & Exclusive Brands Q4 Update. (RELATED: Check Out Amazon’s Amazing Toys and Games Page)

“In our previous Toys report, we predicted that the Amazon.com 2018 holiday season would be all about Games, and that prediction has been supported by the very strong growth experienced in Q3 2018,” explains Chris Perry, VP at Edge by Ascential. “The Games category also represents one of the larger trends evident on Amazon.com: toys for adults. Because both adult and family-friendly board and card games are group activities, their popularity soars when family and friends to get together and celebrate the holidays, so we expect this category to continue this strong growth through Q4.”

In the quarter leading up to the crucial holiday period, Edge found that Games grew by 65% to reach an estimated $100 million in sales, made up of mostly ‘analog’ games such as board and card games, puzzles, and other group games like Jenga. Toys and games marketed to adults made up 8 of the top 50 toys during Q3 2018 and most of those products were board or card games.

On Amazon.co.uk, LEGO, the classic construction blocks brand, was the number one Toy trend and produced 14 of the 50 bestselling toys on Amazon.co.uk during Q3. Edge’s Market Share data found that the fastest-growing toy category on Amazon.co.uk was Outdoor & Sports Toys, which grew by over 40% YoY during Q3 2018 to surpass Games & Puzzles and Infant & Preschool in total sales.

“Most toymakers make over a third of their annual sales during the holiday season and as the first year with Toys R Us, more of those sales are going to go online,” continues Perry. “Although the UK toy market is in decline, Amazon is still growing strong and increasing its market share while also enjoying the most loyalty from its customers. In the coming years, Amazon.co.uk will be at the heart of growth in toy retail. And considering how closely Amazon’s first foray into toys follows the closure of Toys R Us and the release of the retailer’s “A Holiday of Play” print catalog, it’s not much of a stretch to expect this to be just the beginning, in both regions.”

Still looking for the perfect gift for that special child? Amazon’s “Kid Picks” will make you a hero!

Officials throughout NATO are assessing the lessons learned from the massive Trident Juncture exercise last year, and U.S. European Command officials vow to apply those lessons to exercises moving forward.

Air Force Maj. Gen. John P. Healy, the command’s director of exercises and assessments, praised the soldiers, Marines, airmen, sailors and civilian employees who participated in NATO’s Trident Juncture in Norway last year. “They did the heavy work,” he said.

Trident Juncture is a monumental exercise with thousands of moving parts — from Marines drawing equipment from war stocks and a carrier battle group operating north of the Arctic Circle to airmen bringing in equipment and supplies and engineers examining roads and bridges.

NATO designed the exercise to test interoperability of alliance and partner troops. It examined command and control aspects of alliance forces, and examined the logistics behind the effort, Healy said.

“The unique attribute of the U.S. with our partners and allies is we are the only ones who can actually move stuff to this effect, with this degree of efficiency and effectiveness anywhere in the world at a moment’s notice,” the general said in an interview from U.S. European Command headquarters in Stuttgart, Germany.

But interoperability is more than just solving logistical problems, Healy said. It means forces can work together in a battlespace. “With 31 different nations participating in the exercise, we’ve got 31 different methodologies on how they want to command and control the troops they are bringing along with them,” the general said.

Now the job for U.S. European Command will be to internalize the lessons of Trident Juncture. “We are going to take the lessons and use them in all the NATO exercises, our EUCOM exercises as well as our combined exercises,” he said.

Working with other countries is important to American goals in Europe. “We are one of the partners and allies associated with NATO,” Healy said. “We need to make sure that what we are doing is in line with what NATO’s expectation of a collective defense is and vice versa.”

Universal Pictures released the first full trailer for Jurassic World: Fallen Kingdom this week. The story, action and special effects look first rate. Chris Pratt, Bryce Dallas Howard and Jeff Goldblum return to give the story continuity and the feel of a solid sequel.

It’s been four years since theme park and luxury resort Jurassic World was destroyed by dinosaurs out of containment. Isla Nublar now sits abandoned by humans while the surviving dinosaurs fend for themselves in the jungles.

When the island’s dormant volcano begins roaring to life, Owen (Chris Pratt) and Claire (Bryce Dallas Howard) mount a campaign to rescue the remaining dinosaurs from this extinction-level event. Owen is driven to find Blue, his lead raptor who’s still missing in the wild, and Claire has grown a respect for these creatures she now makes her mission. Arriving on the unstable island as lava begins raining down, their expedition uncovers a conspiracy that could return our entire planet to a perilous order not seen since prehistoric times.

With all of the wonder, adventure and thrills synonymous with one of the most popular and successful series in cinema history, this all-new motion-picture event sees the return of favorite characters and dinosaurs—along with new breeds more awe-inspiring and terrifying than ever before. Welcome to Jurassic World: Fallen Kingdom.

Stars Pratt and Howard return alongside executive producers Steven Spielberg and Colin Trevorrow for Jurassic World: Fallen Kingdom. They are joined by co-stars James Cromwell, Ted Levine, Justice Smith, Geraldine Chaplin, Daniella Pineda, Toby Jones, Rafe Spall and Isabella Sermon, while BD Wong and Jeff Goldblum reprise their roles.

Directed by J.A. Bayona (The Impossible), the epic action-adventure is written by Jurassic World’s director, Trevorrow, and its co-writer, Derek Connolly. Producers Frank Marshall and Pat Crowley once again partner with Spielberg and Trevorrow in leading the filmmakers for this stunning installment. Belén Atienza joins the team as a producer.