Foreclosures up statewide, but down in Greenville and Spartanburg

Foreclosures increased slightly in April compared to March, and fell slightly compared to April 2010.

In Greenville and Spartanburg, foreclosures fell as much as 50 percent.

Click here to read the complete story at GSA Business.

Government spending reductions and a slow housing market hold economy back

Economic activity remains stuck in low gear, with real gross domestic product climbing at a 1.8% pace in the first quarter and expected to grow at a 2% pace in the current quarter, according to a report from Wells Fargo Securities.

Overall growth continues to be restrained by cutbacks in government spending as well as the ongoing struggles in the housing market.

Read the rest of the article at GSA Business by clicking here.

Greenville County Lands 700 New Jobs

Governor Nikki Haley, County Council Chairman Butch Kirven, and the S.C. Department of Commerce announced that Amy's Kitchen will invest $63 million in Greenville County and hire 700 workers over the next five years.

Read more at GSA Business by clicking here.

Yeargin Potter Shackelford Announces Promotions

Yeargin Potter Shackelford Construction announced three promotions:

• Bruce Smith, Vice President of Pre-Construction
• Ed West, Vice President of Construction
• Kirk Carter, Vice President of Operations

Read the entire article at GSA Business by clicking here.

HBA of Greenville Members Invited to Downtown Alive May 5

Piedmont Natural Gas will host an HBA of Greenville Appreciation Night during Downtown Alive this week.

What: HBA of Greenville Appreciation Night at Downtown Alive
When: Thursday, May 5, 6 p.m. until 8:30 p.m.
Where: Piedmont Natural Gas' VIP area on Main Street directly across from the Hyatt

No registration necessary. Simply show up and enjoy the evening with Piedmont Natural Gas.

Chief Justice halts foreclosures and modifies the foreclosure process

S.C. Supreme Court Chief Justice Jean Toal issued an order May 3 halting all pending home foreclosure proceedings for owner-occupied homes. The order included a new procedure that requires the lender and the borrower to fully explore all loan modification options before proceeding to foreclosure.

Toal issued the order in an effort to stem the tide of rising foreclosure volume in the courts.

Read the entire report at GSA Business by clicking here.

New households being formed at the fastest rate since 2007

Millions of young adults are starting to leave their parents’ homes, creating households at the fastest rate since 2007. They are helping to provide a so-called shadow supply that may boost U.S. housing starts more than 50 percent by next year and spur consumption at a rate almost double that of the past two years.

Consistent with what NAHB Chief Economist David Crowe told us in March?

Read the entire report at Bloomberg.com by clicking here.