US unemployment claims fall to lowest since 2008...

By Christopher S. Rugaber

Associated Press

Published: Thursday, Jan. 19 2012 6:55 a.m. MST

WASHINGTON — The number of people in the U.S. seeking unemployment benefits plummeted last week to 352,000, the fewest since April 2008. The decline added to evidence that the job market is strengthening.

Weekly applications fell 50,000, the biggest drop in the seasonally adjusted figure in more than six years, the Labor Department said Thursday. The four-week average, which smooths out fluctuations, dropped to 379,000. That's the second-lowest such figure in more than three years.

A department spokesman cautioned that volatility at this time of year is common. Applications jumped two weeks ago, largely because companies laid off thousands of temporary workers hired for the holidays.

When weekly applications fall consistently below 375,000, it usually signals that hiring is strong enough to push down the unemployment rate.

Hiring improved in the second half of 2011. In December, employers added 200,000 jobs. That marked the sixth straight month in which the economy added at least 100,000 jobs. And the unemployment rate fell to 8.5 percent, a three-year low.

For all of 2011, the economy added 1.6 million jobs. That was up sharply from 940,000 in 2010. Economists say they expect roughly 1.9 million more jobs to be added this year, according to a survey by The Associated Press.

Still, the job market has a long way to go before it fully recovers from the damage of the Great Recession, which wiped out 8.7 million jobs. More than 13 million people remain unemployed. Millions more have given up looking for work and so are no longer counted as unemployed.

The manufacturing sector remains a bright spot. Factory output jumped 0.9 percent in December, the Federal Reserve said this week. That was the sharpest monthly gain in a year. Manufacturing gained 225,000 jobs last year, the most since 1997.

The pickup in hiring reflects stronger economic growth. The economy likely grew at an annual rate of about 3 percent in the final three months of last year, economists estimate.

That would be a sharp improvement over the 1.8 percent annual growth rate in the July-September quarter. Rising consumer spending is thought to be fueling much of the gain in the current quarter.

Even so, economists worry that growth could slow in the first half of 2012. Europe is almost certain to fall into recession because of its financial troubles.

And wages failed to keep pace with inflation last year. Without more jobs and higher pay, consumers might have to cut back on spending. That would weigh down growth next year. Consumer spending accounts for about 70 percent of the economy.

Buyer vs. Seller on Home Prices

Housing analysts are expecting home prices to stabilize in 2012, but that doesn’t mean that buyers and sellers won’t continue to be at odds over home prices in the new year. 

While buyers are feeling good about the housing market and saying its a great time to buy, seller sentiment is falling to record low, a new report by the Mortgage Bankers Association shows. Sellers say they are unhappy because they’re unable to snag the prices for the home that they want. 

According to the MBA report, a large gap is occurring between home buying and home selling that isn’t expected to narrow for at least the next five quarters. 

From 1992 to 2005, seller sentiment remained high — between 40 percent and 60 percent, according to the report. However, since 2005, seller sentiment has decreased to 7.6 percent. Meanwhile, home buyer sentiment has remained high despite unemployment and economic conditions. Nearly 80 percent of American households say now is a good time to purchase a home. 

As home values have dropped over the last few years, many sellers are refusing to budge on their prices to reflect current market traditions. One reason why: Some sellers are underwater on their homes. About 20 percent of home owners nationwide are considered “underwater,” owing more on their mortgage than their home is currently worth. Also, some sellers are realizing there may be a benefit in waiting to sell or to keep the home on the market holding out for a higher price, notes the author of the report, Gary Engelhardt, a Syracuse economics professor. “This could hold prices high enough to drive a substantial wedge between the existing buyer and seller. And a poor jobs market with limited mobility, a key driver of housing-market transactions, may exacerbate this,” an article at HousingWire notes about the report. 

Source: “Buyers, Sellers Continue to Butt Heads on Home Prices,” HousingWire (Dec. 29, 2011)

The homes of the GOP contenders

By Zillow

After months of hitting the campaign trail, the Republican candidates hoping to win their party's nomination for the 2012 presidential election have been spending most of their time in planes, trains and automobiles. Home, sweet, home has been a dizzying series of hotel rooms.
But out there somewhere, each of these politicians actually does have a domestic domicile where there are no corn dogs to eat, no stranger's babies to hold and no stray swarms of supporters to glad-hand.
As the GOP primary season cranks into high gear, we're taking a look at the homes these candidates want to trade in for the big white one at 1600 Pennsylvania Ave.

Newt Gingrich

The former House speaker was born in Pennsylvania, grew up in Georgia and served as a U.S. Congressman from the Peach State, but he now calls McLean, Va., home. After his resignation as speaker in 1998, Gingrich's aspirations to transform the nation, as outlined in his 1994 "Contract With America," were short-circuited. Now, however, the 68-year-old author is taking no prisoners as he tries to leap-frog over Mitt Romney and Rick Santorum for a shot at the GOP nomination.

Gingrich purchased his home (above) in McLean in 2000 for $995,000. The 5-bedroom, 5-bath home has 5,206 square feet of living space. The Colonial-style home was built in 1987. Only 10 miles from the White House, McLean is a critical suburban outpost for the Beltway political crowd.

Jon Huntsman

The two-term governor of Utah has spent time in Washington D.C. in diplomatic positions during George W. Bush's presidency and as an ambassador to China under President Barack Obama. Huntsman currently calls the nation's capital his home, residing in a Federal-style home since 2010.

The 5-bedroom, 4.5-bath brick house is in the heart of the politician-stacked Kalorama neighborhood. Built in 1911, the 5,119-square-foot home housed the seventh season cast of "Top Chef" prior to Huntsman and his family moving in.

Ron Paul

During his 20-year service in Congress, Rep. Ron Paul established himself as one of the country's leading libertarians. The prophet of self-rule and minimal government is making his third bid for the presidency.

At 76, Paul has been successful in rallying younger voters seeking a leader who promises to alter the political structure of the country. And true to the profile of a man who advocates people doing things for themselves — in politics or elsewhere — it's not surprising to find that Paul is trying to sell his house via the Internet without a real estate agent or broker.

The Lake Jackson, TX home is priced at $325,000 and has 4 bedrooms, 5 bathrooms and 5,500 square feet of living space.

Rick Perry

Gov. Rick Perry is the longest-serving top leader of Texas ever, but now he wants to break out of the Lone Star State, just like his former boss, George W. Bush, under whom Perry served as lieutenant governor.

Perry currently calls the Texas Governor's Mansion home, but during the mansion restoration in 2007, Perry and his wife rented a $9,900-a-month home in the state capital of Austin that "raised some eyebrows," according to the Associated Press. The secluded estate sits on 3.25 acres and includes high-end amenities like Sub-Zero appliances and gourmet kitchen with marble and granite countertops, outdoor kitchen and pecan hardwood floors.

Mitt Romney

The former Massachusetts governor is hoping that his 2008 failure to secure the GOP nomination will turn into a presidential election win in 2012. He's running as a non-politician, calling himself a businessman who can turn the wheels of the U.S. economy. As the wealthiest of the candidates with an estimated net worth between $190 million and $250 million, it's clear Romney knows how to spur his own economic recovery.

Out of the slew of GOP candidates, Romney also owns the most real estate, although he has downsized in the last few years. He currently owns a townhouse in Boston, as well as a beachfront home in La Jolla, Calif., which he bought in 2008 for $12 million. Romney applied for a permit to expand his beachfront La Jolla home in 2011 and will reportedly begin construction when his presidential campaign is finished.

Rick Santorum

Former two-term Pennsylvania Sen. Rick Santorum lost his seat to Democrat Bob Casey in 2006, but he proved that his governmental connections were good for business in his years as a Philadelphia Inquirer writer, Fox News commentator and conservative think-tank leader.

In 2007, after much controversy about whether he and his large family actually resided in Pennsylvania during his Senate terms, Santorum bought a yellow Colonial-style home in Great Falls, Va., for $2 million in 2007. The 4-bedroom, 5-bath home sits on five acres and includes a cobbled drive and heated pool.

More Americans Are on the Move, Survey Says

More households are moving to East Coast states while leaving Rust Belt states -- the area in the U.S. between the Midwest and the Northeast -- where unemployment remains high, according to the latest Atlas Lines Migration Patterns study, which has tracked the nation’s moves since 1993. 

For the fifth year in a row, Washington, D.C., had the highest percentage of inbound moves while Ohio had the highest percentage of residents leaving, or “outbound moves.” Meanwhile, western states mostly stayed balanced in moves for the year. Several southeastern states, such as Florida and Georgia, also stayed balanced in moves despite high foreclosure rates, possibly because they also serve as retirement hot-spots, according to the survey.

The summer months continued to have the largest number of moves per season, according to the survey. 

The following is a list from the Atlas Van Lines’ 2011 Migration Patterns study showing the top outbound states for moves (in which more than 55 percent of total shipments moved out of the state) and inbound states (in which more than 55 percent of total moving shipments moved into the state). The list is in no particular order. 

Top Outbound States for Moves

• Ohio
• Indiana
• Illinois
• Kansas
• Nebraska
• Utah
• Minnesota
• Wisconsin
• Louisiana
• New York
• Massachusetts
• Connecticut
• Delaware
• New Jersey
• West Virginia
• Missouri
• Kansas
• Hawaii 

Top Inbound States for Moves

• Washington, D.C.
• Maryland
• Texas
• Virginia
• North Carolina 
• New Hampshire
• Rhode Island
• New Mexico 
• Alaska
• North Dakota
• Tennessee

Source: Atlas Van Lines 2011 Migration Patterns

How To Help Your Kids Buy A House

Be sure you are helping out for the right reasons and don't dip into your nest egg.

By Michele Lerner of Bankrate.com

Traditionally (and when they could afford to), parents have provided cash to their offspring for down payments on homes. But in these days of tightened credit guidelines, some parents take bigger steps to help their kids become homeowners at today's low interest rates.

Three factors determine whether it's financially smart for parents to help adult children buy homes: the parents' finances, the kids' finances and the real-estate deal itself.

"The first rule of thumb is that parents should never get financially involved with their adult offspring unless they are adequately prepared to address their own needs and pending retirement, which may not be far down the road," says Guy Penn, principal and founder of G.M. Penn Wealth Management in O'Fallon, Mo.

Penn says while there's no one-size-fits-all answer to whether parents should help their offspring buy a home, it definitely is a bad idea to pull money from a retirement account to give assistance.

Jeffrey Ivory, a partner with Stonebridge Financial Partners in Bingham Farms, Mich., says, "If parents are giving their kids down payment money, they should be willing to lose that money and not get it back. If they are helping their kids by buying a home and renting it to them or by co-signing their loan, they need to have not only the liquidity for the down payment, but they also need to be certain they can pick up the mortgage payments if the kids cannot pay them."


Adult offspring finances
Parents should make sure they are helping their kids for the right reasons, Ivory says.
"If the kids can't get a loan on their own, the parents really need to know why not," Ivory says. "If the scenario is that your kids are going through a divorce or a job loss and you want to help them, tying them to a permanent location may not help. If they are dealing with the financial consequences of credit problems, helping them pay off their credit card debt may be more important than buying a home. But if you are helping a young couple with stable jobs who just haven't had time to save for a down payment, and you can easily afford to help, this could make sense."


Ivory says parents should ask their kids to pull their credit scores and show it to them, and ask to see their paychecks and credit card debt.

"If your kids are already struggling, then you are setting them up to struggle more if you get them into a house they can't afford," Ivory says.

Educating your kids
Ivory says parents should talk to their kids about the rules of thumb of homeownership, including keeping all total debt including housing costs to less than 38 percent of monthly income before taxes. Housing costs, including taxes, homeowners insurance, homeowners association dues, and principal and interest on the mortgage, should be less than 28 percent of gross monthly income.

"The No. 1 way a parent can help their children is to offer them the gift of knowledge," Penn says. "Parents rarely have serious money discussions with their children, and throwing money in their direction now may be doing more harm than good. Parents should be talking to their kids realistically about the hidden costs of homeownership such as utility payments, maintenance and repairs."


The real-estate deal
The simplest way parents can help their kids financially is with down-payment money.

"Lenders want to know if the money is a gift because if the parents are treating it as a loan, it will be considered a second loan on the home," says Dan Kruse, broker and president of Century 21 Affiliated in Madison, Wis.

Individuals can give $13,000 tax-free to another individual each year, Ivory says, so if two parents each give their offspring and their offspring's spouse the maximum, they can give a total of $52,000 tax-free.

Kruse says parents often buy a house as an investment and have their kids pay rent.

The parents can then sell the home to the kids when they are ready, keep it as an investment property or sell it to someone else," Kruse says. "You can do this with two separate transactions, or you can make a rent-to-own arrangement with the parents giving the kids a rent credit toward the purchase."


Ivory says a lease-to-own arrangement requires consultation with a tax professional as well as a lender, and must include a written contract.

Even within the family, financial planners say it is crucial to have everything in writing to make sure there are no misunderstandings in the future about repayment plans or the consequences of a loan default.

Parents with enough cash can lend the entire mortgage to their offspring, but this too should be in writing and include a reasonable interest payment. "Everyone needs to pay attention to the law and to the tax consequences of any financial arrangement," Ivory says.

Most financial planners view co-signing a loan as the worst option because of potential damage to the parents' credit and cash flow if the kids cannot make the payments.

Things are looking up for your Real Estate Market

   

Sales ticked up for existing homes and new homes, several real estate market indicators revealed last week, pointing to a housing market that may finally be entering recovery mode. 

In the most recent report, the Census Bureau reported that the new-home market continued its rebound, with sales of new houses once again inching up last month. New-home sales rose 1.6 percent from October to November to an annualized rate of 315,000, and sales were up nearly 10 percent compared to November 2010. 

The median sales price of a new home in November was $214,100, the Census Bureau reported, and the inventory of new houses nationwide decreased to a six-month supply at the current sales pace. 

"Inventories of new homes are very low: There's nothing on the shelf, so any increase in new home sales will translate directly into new housing starts," Bob Denk, senior economist at the National Association of Home Builders, told CNNMoney. "That means putting people back to work."

Other recent good news for the housing market: November sales of existing homes increased 12 percent year-over-year, new-home building starts were up nearly 21 percent year-over-year, and mortgage rates reached new record lows last week, pushing housing affordability even higher. 

Source: “New Home Sales Edge Up,” CNNMoney (Dec. 23, 2011)

Truth Test: $5 power bills?

By Stephanie Grimes

SALT LAKE CITY -- A Utah developer states home-buyers can "enjoy power bills as low as $5 per month," but is the claim too good to be true?

Garbett Homes' $5 power bill campaign began in 2009, after the company began collecting power bills from residents of the solar- and geothermal-powered Solaris development in Daybreak. One homeowner reported seven straight months of $4.48 power bills.

The homeowner, a single woman, had generated more energy with her home than she had used during those months. Rocky Mountain Power allows customers participate in a net- metering program on a first-come, first-serve basis. A net-metering program measures the difference between the electricity supplied to the homeowner by the company and the electricity generated by the customer and fed back onto the electric grid. Customers pays for any electricity use over what they generate.

The $4.48 charge was a minimum fee Rocky Mountain Power charges customers per month to remain on the electric grid, according to company spokeswoman Margaret Oler.

But is a surcharge the only expense a couple or a family can expect to pay in one of Garbett's solar-powered homes? Probably not, said company spokesman Rene Oehlerking.

"For couples or families of four, bills average $30 or $40, sometimes $50," Oehlerking said. "The average utility cost for electricity and natural gas is $180, so our homes are, on average, 110 percent more energy efficient than new homes built to code today."

The energy efficiency of Garbett homes is due to their construction and the inclusion of renewable energy resources in that construction, according to Oehlerking.

The resources, such as solar panels, are included in the cost of the homes, which sell from the low $200,000's.

Oehlerking said Garbett is "eating the cost" of installing the environmentally friendly features in order to remain competitive in a difficult market. "Green" features do not earn any credit with appraisers, so on paper the homes are not worth any more than their more traditional counterparts.

"It's unfortunate, really, that these features don't add value," Oehlerking said. "It's good news for buyers, though, who are essentially getting these things for free."

"What we're doing is pretty cool," he continued. "Businesses can continue with business as usual and go bankrupt, or they can innovate. We decided to innovate, and it's given us a competitive advantage."

The difference in price between Garbett homes and other Salt Lake area homes without the additional features is, in fact, negligible. The average price per square foot of a home in Utah was $110 in the first quarter of 2011, which for an 2,000 square foot home comes to $220,000. Homes in Garbett's TerraSol development range from 2,100 to 2,400 square feet and start between $220,000 and $250,000.

They do not cost anything extra, but is the electricity savings worth it? Oehlerking thinks so.

"Our buyers are getting energy-efficient, high-producing homes," he said. "All at a time that electricity rates are going through the roof."

In fact, the average American paid $300 more for electricity in 2010 than they did in 2009, marking the fifth-consecutive year of an increase above the inflation rate. Fifty dollars per month on energy costs, or $600 per year, is less than half of the $1,419 the average American family paid for electricity last year.

So, is there truth in Garbett's claim to $5 energy bills?

The $5-bill campaign was a clever marketing tactic that did not represent the savings an average family would see in a Garbett home, but the homes are no more expensive than a traditional house, and home-buyers will likely see drastic reductions in energy costs.

Image credit: Garbett Homes

4 Utah cities make top 25 list for business

By Jasen Lee

SALT LAKE CITY — The Milken Institute Friday announced that three of Utah’s large metro cities — Salt Lake City, Provo and Ogden — all ranked among the nation’s top 25 locations for business.

Among small cities, Logan ranked No. 1.

The Best-Performing Cities index ranked the nation's 200 large metropolitan areas on measures including job, wage and technology performance.

In the Institute's index, employment growth was weighted most heavily due to its critical importance to community vitality. Wage and salary growth measured the quality of jobs created and sustained, a release stated.

Utah metro areas made an impressive showing, with three metros in the Top 25 compared to only one metro recognized last year. Salt Lake City ranked sixth, Provo ranked ninth and ranked 15th, Ogden climbed 32 positions.

“This new research by the Milken Institute is further evidence that Utah continues to be the most impressive economy in the country,” said Gov. Gary Herbert. “Our work ethic, our skilled labor force, and our business-friendly environment — exemplified by these four cities — continue to fuel expansion and job growth in Utah.”

Job market brightens as unemployment claims sink

By Christopher S. Rugaber December 15th, 2011 @ 10:55am

WASHINGTON (AP) - The outlook for the job market is looking brighter.

Far fewer people are seeking unemployment benefits than just three months ago _ a sign that layoffs are falling sharply.

The number of people applying for benefits fell last week to 366,000, the fewest since May 2008. If the number stayed that low consistently, it would likely signal that hiring is strong enough to lower unemployment.

The unemployment rate is now 8.6 percent. The last time applications were this low, the rate was 5.4 percent.

The big question is whether fewer layoffs will translate into robust hiring. It hasn't happened yet, even though job growth has increased in recent months.

The four-week average of weekly unemployment applications, which smooths out fluctuations, dropped last week to 387,750. That's the lowest four-week since July 2008. The four-week average has declined in 10 of the past 12 weeks.

"Labor market conditions have taken a turn for the better in recent weeks," Michael Gapen, an economist at Barclays Capital, said in a note to clients. "Payroll growth should improve in the coming months."

Separately, the prices companies pay for factory and farm goods rose 0.3 percent last month. The figure was pushed up by higher food and pharmaceutical prices. But energy prices barely rose, keeping inflation in check.

In the 12 months ending in November, wholesale prices have increased 5.7 percent, the Labor Department said Thursday. It's the smallest year-over-year increase since March.

The department's producer price index measures price changes before they reach consumers.

A mixed picture of manufacturing emerged from other reports Thursday. Factory output fell in November for the first time in seven months, according to the Federal Reserve. Manufacturers made fewer cars, electronics and appliances.

But some economists noted that auto sales rose in November, suggesting that production will rebound.

And the Federal Reserve Banks of Philadelphia and New York said manufacturing expanded in their regions. Manufacturing has been a key source of growth this year.

Still, the U.S. manufacturing sector could weaken in 2012. Growth is slowing in Asia. Europe is likely already in recession. And U.S. companies are reducing their investment in machinery and other large equipment.

The downward trend in applications suggests that companies are cutting fewer workers as the economy picks up. It also comes as Congress is wrangling over whether to extend emergency unemployment benefits, which are set to expire at the end of this year.

Growth may top 3 percent in the final three months of this year, according to many economists. That would be up from 2 percent in the July-September quarter.

Other recent reports suggest the job market is improving a bit. In the past three months, net job gains have averaged 143,000 a month. That compares with an average of 84,000 in the previous three months.

In November, employers added 120,000 jobs, and the unemployment rate fell to 8.6 percent from 9 percent. That was the lowest unemployment rate in 2 1/2 years. But about half that decline occurred because many of the unemployed gave up looking for work. When people stop looking for a job, they're no longer counted as unemployed.

Employers posted fewer jobs in October than in the previous month, the government said Tuesday, though the decline was modest.

Job openings have risen by about 35 percent since the recession officially ended in June 2009. But they're still about 25 percent below pre-recession levels.

More than 7.4 million people are receiving unemployment benefits, according to Thursday's report. About 2 million will lose their benefits by mid-February if the emergency program expires.

Lawmakers differ over how long benefits should last. The House passed a Republican bill Tuesday that would renew emergency aid but reduce the maximum duration to 59 weeks from the current 99 weeks.

Democrats want to keep the full 99 weeks. The measure is part of broader legislation in the Democratic-led Senate that would also extend a Social Security tax cut.

4 Tips to Help Potential Buyers Refine Their Home Search

Are you having a tough time wading through the inventories of homes to find your right home? Offered here are some of the following tips in a recent article edited from RISMedia to help you home buyers narrow your search when looking for properties:

1. Make a list of all the must-haves for your future home, such as the number of bedrooms and school district you must have.

2. Make sure you get pre-approved for a mortgage by a lender before you meet with your REALTOR. This will help ensure that you only look for homes that are within your budget.

3. Make Sure your REALTOR encourages you to research available homes on the Internet so you get a feel for what’s available. He can help you sort for properties within your price range and locate homes that fit their criteria. He will have you review photos and videos of multiple homes on the Internet to help you narrow your search before you view the homes in-person.

4. Make sure your REALTOR does not let you get sidetracked when viewing homes at aesthetics that can be changed out easily, such as paint colors and light fixtures. Let him help you see past any bad decor and focus in on items in the home that can’t easily be changed, such as the home’s location and lot size.

Source: “How to Lead a Refined Real Estate Search,” RISMedia (Dec. 12, 2011)

It just wouldn't be Christmas without watching these 5 films

SALT LAKE CITY -- Christmas just wouldn’t be the same without the movies that embody the spirit of the season and help us laugh our way through this crazy time of year. They can bring you back to your childhood, when the stress of the holidays was your parent’s headache and all you knew of Christmas was the magic. Watching certain films may even be a tradition for some families. And sometimes a Christmas flick is the best way to remind even the biggest Scrooge that there indeed is something special about this time of year.

There are many standout holiday movies, but it just wouldn’t feel like Christmas without enjoying at least one of the following five films.

A Christmas Day tradition

I triple-dog-dare you not to watch “A Christmas Story” in December. If you own a television, it’s almost impossible not to revisit Ralphie and the tacky leg lamp with the “soft glow of electric sex in the window.” Devoid of any Hollywood gimmicks, “A Christmas Story” gets it’s charm from the nostalgic story line and a boy’s simple Christmas wish for a Red Ryder, carbine action, two-hundred shot range model air rifle. There are few, if any, Christmas movies with as many memorable scenes and quotable lines as this film, which strangely flopped in theaters and found mega success as a television staple on Christmas day.

An old classic

It’s hard to believe that “It’s a Wonderful Life” was released more than 55 years ago. In 2011, the story of a man struggling to live the American dream in a nation trying to recover from economic turmoil may be more relatable now than ever. George Bailey, played by the incomparable Jimmy Stewart, is a family man and small-business owner overwhelmed by debt and failed dreams. Convinced that the world is better off without him, he comes to his breaking point only to be rescued by an unconventional angel. Even though the main events of this film occur on Christmas Eve, the story is poignant and moving no matter what time of year you watch it.

A new classic

If you’ve ever poured syrup over your spaghetti and smiling is your favorite, you’re probably a fan of “Elf”. It may not move audiences to tears or convey a mind blowing holiday message, but it scores points for being original. It’s goofy, immature and all together ridiculous, and that’s exactly why so many people love it. Will Ferrel is endearing as Buddy, the elf, who moves to New York City from the North Pole after discovering he’s actually human. Trying to adapt to life outside of Santa’s workshop leads to slapstick antics and silly encounters. “Elf” doesn’t take itself seriously, and reminds us that this time of year is supposed to be fun!

A children’s classic

Whether you watch the 1966 cartoon based on Dr. Seuss’ popular book, or prefer Ron Howard’s take on the holiday classic, “How the Grinch Stole Christmas” has a lesson for kids young and old. If your children have a case of the gimmies and you’ve become overwhelmed by crowded shopping malls, it helps to remember the moral of this story. “Maybe Christmas doesn’t come from a store. Maybe Christmas…means a little bit more.”

Home for the holidays

“I don’t know what to say except, it’s Christmas. And we’re all in misery.” If your family puts the fun in dysfunctional, especially during the holidays, than you’ll appreciate “National Lampoon’s Christmas Vacation”. It’s probably one of the most popular Christmas-themed comedies ever, and for good reason. Clark W.Griswold, played by Chevy Chase, is a family man and idealist who attempts to have a “fun, old fashion family Christmas.” His good intentions backfire again and again when his family and in-laws come to stay. There are too many laughs in this movie to mention, and the ensemble of characters may make your own family seem normal.

Nicole Pollard currently resides in Canyon Country, Calif.

The Perfect Holiday Gift: A Down Payment?

More families may be feeling a little extra generous this holiday season and are offering loved ones help with a down payment on a home.

Coming up with the down payment has become a major obstacle to home ownership, according to a survey by Trulia from September. The survey found that 51 percent of 758 renters surveyed said coming up with the money for a down payment was what was preventing them from buyer and 36 percent said qualifying for a mortgage was holding them back.

But with the holiday season approaching, some lucky family members may find a down payment gift under the Christmas tree.

However, if giving a down payment gift, gift givers must remember that “under federal tax law, each individual is permitted to give away money or valuables worth up to $13,000 to a single recipient in a calendar year,” according to an article at The New York Times. “A married couple could jointly bestow up to $26,000 a year per recipient.” Anything above the maximum annual exemption could be considered a taxable gift and must be reported to the IRS.

Source: “Help With a Down Payment,” The New York Times (Dec. 1, 2011)

UTAH 6TH BEST STATE IN THE NATION...

By Douglas A. McIntyre, Michael B. Sauter, Charles B. Stockdale, Ashley C. Allen, 24-7 Wall St.

1. Wyoming
> State debt per capita: $2,452 (18th lowest)
> Pct. without health insurance: 14.9% (21st highest)
> Pct. below poverty line: 10.3% (7th lowest)
> Unemployment: 5.8% (6th lowest)

Wyoming comes in first place in 24/7 Wall St.’s Best Run States for the second year in a row. The state has high marks in many categories including high school graduation rate. A whopping 92.3% of state residents age 25 or older have at least a high school diploma — the highest rate in the country. The state also has the fourth lowest rate of violent crimes and the sixth lowest unemployment rate. Wyoming has the smallest population of any state in the country.

2. Nebraska
> State debt per capita: $1,407 (4th lowest)
> Pct. without health insurance: 11.5% (14th lowest)
> Pct. below poverty line: 11.9% (tied for 14th lowest)
> Unemployment: 4.2% (2nd lowest)

The state of Nebraska had the 21st lowest revenue per capita in the country in 2009 yet managed to spend more per capita that year than all but seven states. The state has the fourth lowest debt per capita, and it is one of 13 states with a perfect AAA credit rating. Besides being financially sound, Nebraska also has an unemployment rate of 4.2%, the second lowest rate in the country. The state also has relatively low poverty, high graduation rates and the seventh lowest rate of foreclosures last month.

3. North Dakota
> State debt per capita: $2,721 (20th lowest)
> Pct. without health insurance: 9.8% (9th lowest)
> Pct. below poverty line: 12.3% (17th lowest)
> Unemployment: 3.5% (the lowest)

One of the best measures of North Dakota’s success is its unemployment rate of 3.5% — the lowest in the country and one that has n0t been above 5% in over 20 years. While the state has relied on a stable agriculture sector to keep unemployment low, the booming oil industry has created a $1 billion surplus in the past three years. From 2009 to 2011 Montana was the only other state to report a surplus, according to the Center on Budget and Policy Priorities.

4. Minnesota
> State debt per capita: $1,790 (8th lowest)
> Pct. without health insurance: 9.1% (4th lowest)
> Pct. below poverty line: 11.0% (10th lowest)
> Unemployment: 6.9% (14th lowest)

Minnesota moved up in the ranking from fifth to fourth due to its improvement in several categories, including violent crime rate and health insurance coverage. In 2010, just 9.1% of state residents were without health insurance coverage — the fourth best rate in the country. The state also continues to excel in the areas it did last year. Some 91.5% of the state’s adult population has graduated high school — the second highest percentage in the country. The state also has the eighth lowest debt per capita.

5. Iowa
> State debt per capita: $2,117 (13th lowest)
> Pct. without health insurance: 9.3% (6th lowest)
> Pct. below poverty line: 11.9% (tied for 14th lowest)
> Unemployment: 6% (8th lowest)

Iowa’s greatest assets are its rates of educated and insured residents. Some 90.6% of residents 25 years and older have at least a high school diploma and only 9.3% of residents do not have health insurance. These are among the best rates in the country. Iowa also has an exceptionally low unemployment rate and the highest credit rating available, demonstrating its healthy economy.

6. Utah
> State debt per capita: $2,274 (15th lowest)
> Pct. without health insurance: 15.3% (20th highest)
> Pct. below poverty line: 11.5% (12th lowest)
> Unemployment: 7.4% (17th lowest)

Utah kept the same rank it had in our last survey. The state has the fifth-lowest violent crime rate in the country, as well as the seventh-highest graduation rate in the country. However, Utah had one of the higher foreclosure rates in the country in October, and 15.3% of the population — an above-average rate — is without health insurance.

7. Vermont
> State debt per capita: $5,514 (9th highest)
> Pct. without health insurance: 8% (3rd lowest)
> Pct. below poverty line: 11.7% (13th lowest)
> Unemployment: 5.8% (5th lowest)

Vermont does extremely well in a number of areas considered for this list. Residents are highly educated. It has the second lowest rate of violent crime in the country. It has the third lowest percentage of uninsured residents. However, the state has saddled its citizens with debt. Vermont’s debt per capita is more than $5,500, which is the ninth highest in the country.

8. Virginia
> State debt per capita: $3,100 (22nd lowest)
> Pct. without health insurance: 13.1% (20th lowest)
> Pct. below poverty line: 10.7% (8th lowest)
> Unemployment: 6.5% (10th lowest)

Virginia is the highest-ranked state in the southern U.S., largely because it does not suffer from many of the problems that plague the rest of the South. The state has a median income of $60,674, the eighth-highest in the country, as well as a poverty rate of 10.7%, which is the eighth lowest. The state also has the sixth-lowest violent crime rate in the country, with just 213 incidents taking place in 2010 for every 100,000 people.

9. Kansas
> State debt per capita: $2,086 (10th lowest)
> Pct. without health insurance: 13.9% (24th lowest)
> Pct. below poverty line: 12.8% (tied for 21st lowest)
> Unemployment: 6.7% (12th lowest)

Kansas has the 10th-lowest state debt per capita in the country. However, the state’s ranking may change as its debt grows. According to The Hutchinson News, borrowing by school districts has increased over 800% since 1990. Kansas has a relatively low unemployment rate of 6.7% compared to the national rate of 9.1%.

10. South Dakota
> State debt per capita: $4,485 (12th highest)
> Pct. without health insurance: 12.4% (18th lowest)
> Pct. below poverty line: 13.8% (25th highest)
> Unemployment: 4.6% (3rd lowest)

South Dakota rounds out our list of the 10 best-run states in the country. While the state is slightly below average in median income and poverty, otherwise things are going quite well in the state. South Dakota has the third-lowest unemployment rate in the country. It is also one of the few states to truly avoid the worst parts of the housing crisis. Just one in 4,352 homes was foreclosed in October — the fourth lowest rate in the country.