Pending Sales of Previously Owned U.S. Homes Unexpectedly Fall

• NAR's monthly index declines by most since December 2013
• Purchase contracts decrease in all four U.S. regions

Contract signings to purchase previously owned U.S. homes unexpectedly fell in September by the most since the end of 2013, indicating the residential real estate market is cooling from its recent brisk pace.

An index of pending home sales dropped 2.3 percent in September after a 1.4 percent decline a month earlier, the National Association of Realtors said Thursday. The decrease exceeded the most pessimistic forecast in a Bloomberg survey of economists.

A limited selection of properties may be dissuading some from trading up, while stricter credit standards are making it difficult for others to qualify for loans. At the same time, housing demand will probably be underpinned by cheap borrowing costs and employment opportunities.  Read more

Economic Growth Cools as U.S. Companies Rein in Inventories

The economy in the U.S. expanded at a slower pace in the third quarter as companies took advantage of gains in consumer and business spending to reduce bloated stockpiles.

Gross domestic product grew at a 1.5 percent annual rate, in line with the 1.6 percent median forecast of economists surveyed by Bloomberg, Commerce Department data showed Thursday in Washington. Excluding the biggest swing in inventories in four years, the pace of growth was 3 percent compared with 3.9 percent in the previous three months.

Household purchases, buoyed by job and income gains, will probably continue to underpin the world’s largest economy even as weaker demand from overseas customers holds back exports and manufacturing. The quick re-balancing of stockpiles to be more in line with domestic demand heading into the holiday season indicates factory production will soon stabilize, eliminating a source of weakness.  Read more details

China Ends One-Child Cap After Three Decades to Lift Growth

Richard's comment:  Apparently, China needs more citizens to boost economic growth.  Great reason to have kids.  Will this cut in half the 13 million abortions they perform every year?

• Policy change part of Xi Jinping's new five-year plan
• Shares of baby-formula maker Danone jump on news of change

China abandoned the one-child policy that has shaped society since the late-1970s as the ruling Communist Party tries to boost a shrinking workforce and manage the country’s transition to an era of slower economic growth.

The party’s Central Committee approved plans to allow all couples to have two children, the official Xinhua News Agency said Thursday, citing a communique released at the end of a four-day party policy meeting in Beijing. The move, which had beenexpected, comes after a previous effort to relax the policy fell well short of the goal of boosting births by 2 million a year.  Read more

China abandons one-child policy, allows two children for all: Xinhua

China says it will abandon its more than 30-year-old one-child policy and allow couples to have two children, Chinese news agency Xinhua reported on Thursday. The news come at the end of a four-day Communist Party gathering in Beijing, where party leaders discussed measures to ensure growth. China eased its one-child policy in 2014 in a bid to tackle serious gender imbalances and rapid aging of the population. Under the revised policy from 2014, couples were allowed to have a second child if either was an only child, but the expected baby boom failed to appear.

More to come...

World Congress of Families kicks off with message of action

SALT LAKE CITY — Action was the word of the day at the World Congress of Families, which kicked off its first conference on U.S. soil Tuesday.

Over a day of forums and panels, speakers repeatedly declared the battle over abortion, marriage and families is reaching a critical point.

Gov. Gary Herbert and Utah's first lady Jeanette Herbert gave a brief welcoming speech Tuesday evening. The Herberts, avoiding mention of any specific hot-button political issues, touted Utah as a family oriented state and talked about the importance of raising children with strong morals, rooted in strong families.  Read more

WOMEN ENTREPRENEURS: THE SECRET TO THEIR SUCCESS

A new survey highlights the traits that female business owners share—and where they could stand to improve.

Men launch businesses at about twice the rate that women do, according to the Kauffman Foundation. That being said, the number of women-owned firms from 2007 to 2014 increased by 17 percent, compared to an overall increase of 13 percent, American Express Open research found.

GET SUPPORT: Learn how being an NFIB member can help you run your small business and save thousands of dollars.

What traits are shared by women who start a business? KPMG’s recent survey Women Entrepreneurs: Passion, Purpose and Perseverance notes these trends:  Read more

Scientists say this 191-year-old symphony could help your heart health.

I'm going to play you a song.

You probably know it. In fact, you probably know it extremely well.

When it comes to Beethoven's Symphony No. 9, the fourth movement pretty much gets all the love, glory, and fame (not to mention all the sweeeeet electric guitar covers). Which is a shame.

Because the third movement might have magical healingpowers.

Seriously.Read more

According to a group of fancy Oxford University scientists, listening to the third movement of Beethoven's No. 9 might actually lower your blood pressure and help fight heart disease. In real life