Credit, Economy and Financial News
Housing Starts Plunge in December
Housing starts fell to an all time low in December, capping a terrible year for homebuilders. The Commerce Department said construction of new homes and apartments declined 15.5% to an annual rate of 550,000 units last month,which shattered the previous low set in November. For 2008, builders broke ground on a little more than 904,000 housing units, a huge 33.3% drop from the 1.355 million housing units started in 2007. To make matters worse, applications for building permits, considered a barometer of future activity, dropped 10.7% in December. The Federal Reserve has taken a number of steps to provide some relief. It is buying certain types of mortgages and has slashed the federal funds rate to a record low of between zero and 0.25%. Also, the Obama Administration is considering steps aimed at preventing foreclosures, which have made it nearly impossible for homebuilders to compete. Yet, builders remain skeptical of a turnaround any time soon, as rising unemployment and a recession make it unlikely that many new home buyers will emerge.
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Date Last Updated: 01/28/2009
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Charter Capital services many industries. Here are just a few of the industries
we are currently financing:
Trucking and Freight
It has never been easier for trucking companies and freight brokers to get cash
with Freight Factoring from Charter Capital. We purchase your Freight Invoices
and fund you within 24 hours, so you don't have to wait to get paid.
Staffing Firms
We can help you grow your staffing company with unlimited payroll funding ,
whether you're a start up or a multi-million dollar
temp-staffing agency. Our
clients provide staffing for various industries including Professional, Office
Services, Medical, and Manufacturing.
Security Firms
Demand for security services in the USA is on the rise. Be financially prepared
to gain your share with a FactorLine facility only from Charter Capital.
Manufacturing
If your business is a manufacturing plant, distributor,
packaging company, or
any business that invoices to credit worthy customers, then a FactorLine from
Charter Capital can accommodate the working capital funding needs of both new
manufacturing companies as well as those that have been around for years.
Technology Staffing Firms
Service providers such as technology
consulting and staffing firms are great candidates for our FactorLine accounts receivable
funding service, enabling you to increase your cash flow without the need
for bank loans. We are always adding new industries and will consider factoring
service providers in any industry.
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