RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

Healthy Job Growth to Boost Housing Recovery

March 2, 2015 12:12 am

The economy is poised for a pickup in growth in 2015 amid a strengthening employment sector, rising income growth, and declining commodity prices, according to Fannie Mae’s Economic & Strategic Research (ESR) Group. The labor market has started the year on an upbeat note and is expected to lift consumer confidence, in turn helping to boost consumer spending, manufacturing activity and the pace of the housing recovery. Economic growth may face some headwinds as a strong U.S. dollar weighs on the trade deficit. However, the economy is expected to climb to 2.9 percent for the full year, up from 2.5 percent growth in 2014.

"We expect housing to shift up a gear in 2015 following the uneven and ultimately disappointing activity last year," says Fannie Mae Chief Economist Doug Duncan. "Our forecast calls for a number of factors, including strong hiring and income growth, stabilized housing affordability, and modestly easing lending standards, to translate into improving housing demand throughout the year. We continue to anticipate that the Fed will begin to hike short-term interest rates later this year, although weak global economic growth and geopolitical headwinds will likely limit the rise in long-term interest rates.”

Source: Fannie Mae

Published with permission from RISMedia.


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Tips to Avoid Tax Identity Fraud

March 2, 2015 12:12 am

According to the U.S. Treasury Department, 1.6 million Americans fell victim to tax identity theft in the first half of 2013 alone. The Government Accountability Office estimates that identity thieves stole $5.2 billion in 2013 as a result of this fraud. With Tax Day quickly approaching, the National Consumers League (NCL) urges taxpayers to be on the lookout for fraud.

“While most Americans dread Tax Day, fraudsters increasingly are cashing in with lucrative tax identity fraud scams,” says John Breyault, NCL vice president of public policy, telecommunications and fraud. “What makes this scam particularly pernicious is the ease with which fraudsters can steal personal information, file a false tax claim, and then turn the fraudulent refund into untraceable cash before the consumer realizes they have been a victim of a scam.”

Consumers receive W-2 forms from their employer by the end of January, but often wait to file their taxes closer to Tax Day on April 15. Since the IRS aims to process refunds quickly, fraudulent claims often go undetected.

The NCL recommends the following to avoid becoming a victim of tax identity fraud.
  • File your taxes as early as possible during tax season. Scammers depend on the fact that many taxpayers wait until late in tax-filing season to file. Filing early reduces the risk that a tax ID thief will be able to use your personal information to file fraudulently ahead of you.
  • Check your annual Social Security Administration earnings statement carefully. If there are earnings listed that you don’t recognize, someone else could be using your identity to obtain employment.
  • Review your credit report for any suspicious activity.
  • Never give out personal information, such as your SSN, date of birth, or bank account information in response to unsolicited emails, postal mail, over the phone or via text message, social media or other platform.
Source: NCL

Published with permission from RISMedia.


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