Happy Good Friday & Easter Weekend!
Cheat Sheet Q&A:
So what happened to Rush Radio 94.7?
Bottom Line: Months after the end the station formerly known as Rush Radio 94.7 on the TreasureCoast the question still comes up frequently. With the end of season upon us I thought it’d be a good time to address this to any remaining people who are still wondering what happened to their radio station.
Rush 94.7 launched in April of 2011 (it had been a top 40 station called Star). The station was branded Rush Radio 94.7 and carried an on-air lineup that resembled that of WJNO (including our morning show “The Morning Rush”) with the exception of the night time programming.
Over the next two and a half years the station performed extremely well. The station advanced from #18 to #4 and for “in market” radio stations, Rush Radio was #2. You might actually say that the station performed too well…
There had been a preexisting news/talk station on the TreasureCoast based out of Vero Beach. The station had been significantly impacted by the programming and performance of Rush Radio 94.7 and late last year the owner of that station decided to purchase Rush Radio 94.7 (WPHR). On Christmas Eve of last year the deal closed and the station was immediately flipped to a format that was designed to be competitive with the #1 station on the TreasureCoast, WAVW, Wave Country 92.7. By flipping the station their was to eliminate the competition to their talk station and perhaps have success with Country.
The whole situation was truly sad for many of our listeners and certainly for us. So how can you listen to the content that you were accustomed too on the TreasureCoast?
· See if you can get 1290 WJNO (out West Palm Beach) we do have some coverage on the TreasureCoast
· Listen from anywhere using your mobile device by downloading the iHeart Radio app and locate WJNO on iHeart Radio. If you have a USB player you can plug your phone with iHeart into your audio system and listen in HD quality in your car
· If your car comes standard with iHeart Radio as a preset location WJNO
· If you use headphones plug them into your phone and listen to WJNO on iHeart on the go
· You can also go to WJNO.com and click the “listen live” button to stream from any internet ready computer or device
If you have a topic or question you’d like me to address email me: email@example.com
How many home owners in Palm BeachCounty are still underwater and what is our overall equity position?:
Bottom Line: Nationwide we’ve seen the rate of those who had been underwater on their mortgages drop from a peak of nearly 40% during the depth of the great recession to 17% currently according to Realty Trac. Naturally Florida sports a higher rate of underwater mortgages as we were one of the states with the biggest boom – bust cycle.
· 30% of all homeowners with mortgages are underwater
So how about Palm BeachCounty?:
· 43% of all mortgage holders are underwater
· 30% are underwater by 25% or more
· 57% have equity
· 17% have significant equity in their homes
So we see that Palm BeachCounty still has plenty of work to do to fully mend from the housing crisis. Having 30% of mortgage holders that are still under water by 25% or more indicates that it will still take additional years to fully put the past in the rearview mirror.
Before you buy that vacation home…:
Bottom Line: Let’s stay with the housing theme for a moment. I picked up on a number yesterday that I wasn’t happy with and wanted to elaborate on with regard to 2nd homes.
Recently I reported on the return of the vacation home. The story centered on the volume of vacation and/or 2nd homes that had been purchased in 2013 (13%). It was the largest percentage of homes purchased for vacation purposes since prior to the great recession. If you want a vacation or 2nd home great… As long as you have the money.
At the end of 2013 we were still seeing that greater than half of all vacation homes were being purchased with cash. By the end of the first quarter of 2014 that was no longer the case.
· Only 38% of vacation/2nd homes are being purchased with all cash
That’s a little bit of a warning signal to me. To begin with I don’t advocate financial a non-primary residence. It creates additional stress and leverage on your personal financial situation. It also is one of the most significant reasons why the boom – bust cycle was so extreme, especially in South Florida. To be fair, fewer than 10% of vacation/2nd home purchases by the end of the housing boom were all cash deals, so we’re still far better off than that number but the trend does concern me.
It’s clear that financing a 2nd home creates an additional stressor for you and becomes the first thing you let go off if you’re faced with negative financial adversity. I’ll be tracking this number closely. In the meantime I’d discourage anyone thinking of financing a vacation or 2nd home from doing so.
You can now access your computer remotely via your Android mobile devices:
Bottom Line: You may be familiar with VPN and Remote Desktop for traditional computers. People like me live by that technology to be able to connect to our work computers from anywhere (I have a designated work station at home just for work via VPN & remote desktop). Wouldn’t it be nice if you could use your mobile devices to tap into your remote computer(s) from anywhere?
Yesterday Google released “Chrome Remote Desktop” that’s available for Droid based smart phones and tablets through the Google Play store. This does enable that final missing link to being truly connected from anywhere at anytime and could come in handy when work strikes when you’re on the go.
We've discussed where our Federal taxes go but what about state taxes? How is that money typically spent?
Bottom Line: So earlier in the week I broke down how our Federal tax revenue is collected and how it’s spent. Let’s wrap up tax season week with how our state taxes are spent:
· 25% Grade school education
· 16% is Medicaid spending
· 13% Higher education
· 5% Corrections
· 5% Transportation
· Everything else is at 1% or less
So between education and Medicaid more than half of all state spending is accounted for… There are many observations I could offer up but I’ll share just this one for the moment. Isn’t wrong that our third highest state tax payer expense is the subsidizing of a college and university system that continues to raise the price of tuition at a rate that is higher than the income growth rate, thus progressively making higher education ever less affordable?