by WARREN MOSLER Still heading south: In addition to tightening requirements, states have found other means to keep people from receiving benefits: Has the economy made it arder to get unemployment benefits? Not every terminated employee is eligible to receive …
Trump to Enforce Housing Aid Ban for Illegal Immigrants . By Philip Wegmann – RCP StaffApril 17, 2019 Trump to Enforce Housing Aid Ban for Illegal ImmigrantsAP Photo/Jacquelyn Martin, File The Trump administration will soon release new regulatory changes aimed …
Financial Survival Network, Released on 4/17/19 In places like Greenwich, CT, New York City, Vancouver and around the world, it looks like there’s a high-end housing bust taking place. It’s partly a demographic issue, where older people are downsizing want …
via washingtontimes: The Trump administration is proposing a new rule to try to block some 32,000 illegal immigrant-led families from claiming public housing assistance, saying it’s unfair to hundreds of thousands of Americans who are stuck on waiting lists. Housing and …
by WARREN MOSLER Imports and exports both decelerating indicates a weaker global economy, and weak US retail sales indicates domestic consumer spending growth is slowing: Highlights First-quarter GDP looks to get a major boost from improvement in the nation’s trade …
by WARREN MOSLER Still looks to be weakening: Looking weak: Tariff wars taking their toll:
by WARREN MOSLER Tax Reform Exacerbates Sales Cooldown in the U.S. (WSJ) U.S. tax reform has exacerbated a gradual cooldown in U.S. home sales over the past year in certain parts of the country, according to research from realtor.com. The …
via mercurynews: Even under the rosiest of regulatory scenarios, California’s residential construction industry needs at least 200,000 new workers to produce enough new housing to improve affordability. But it is struggling to compete for them. Industry leaders often claim it’s because …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter In Greater Vancouver, BC, Canada, house prices fell 0.5% in March from February, the eighth month in a row of declines, according to the Teranet-National Bank House Price Index released this morning. It was the sharpest eight-month decline …
Rising risk of US and China housing slump causing recession – IMF https://www.theguardian.com/business/…
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter The Wave of Mega-IPOs is already baked into the cake.
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Market for houses freezes up. House & condo prices drop. High end hit the hardest. In the City of Vancouver, British Columbia, in March, sales of detached houses fell 14% from March 2018, to merely 117 …
By John Mauldin The US has been an “island of stability” as economic woes grow all over the world. Other such islands exist, too. Australia is high on the list. The last Down Under recession was 27—yes, 27—years ago in …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter This bubble was not pricked by the central bank — on the contrary. Home prices in the metro area of Sydney, according to CoreLogic’s Home Value Index, fell 0.9% in March from February and 10.9% from March …
Josh Sigurdson talks with author and economic analyst John Sneisen about the inevitable fall of many Australian housing markets as predicted by WAM for years. It had to happen eventually and now we are seeing the effects of a completely …
CNBC, Released on 3/27/19 Robert Shiller is an American economist, academic, and best-selling author. He currently serves as a Sterling Professor of Economics at Yale University and is a fellow at the Yale School of Management’s International Center for Finance. …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter House prices in Miami eke out post-collapse record but fizzle in Las Vegas, Phoenix, Washington, DC; fall in Chicago. Cincinnati & Detroit tick down further. There is a counterpart to “The Most Splendid Housing Bubbles in America,” as …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter San Francisco Bay Area House prices -4.3%, condos -5.7% since July, Seattle house prices -5.9%, most since Housing Bust 1; Los Angeles, San Diego, Denver, Portland, New York condos, even Boston decline. Dallas ticks up. The most obvious …
by WARREN MOSLER Rolling over: Also rolling over, and inline with the drop in retail sales: U.S. auto sales are falling as vehicle prices climb, indicating that buyers at the lower end are getting squeezed out of the new …
via marketwatch: We believe the housing industry is at risk to face a perfect storm. Demand 1. The rate of household formation remains consistently below its long-term trend of 1.2 million a year. Several factors account for this. The U.S. birthrate …
Australia real estate continues to slowly decline. In Sydney, the average decline is 13% from its peak. Some neighbourhoods are even worse. Construction companies are feeling the burn. Foreign investment has slowed to some degree which is having an impact …
https://www.youtube.com/watch?v=vMk8hH78H4M Here comes the Recession AC
via Mark Hanson RedFin puts out a monthly home sales report, which contains a lot of great data. The chart below shows Feb 2018 year-over-year price growth, which was off the charts, compared to Feb 2019 year-over-year growth, which was very …
SAN FRANCISCO—California’s economy is adding jobs far faster than affordable places to live, forcing some employers to leave the state as they expand. Companies that move from California have historically left behind its diverse industries, renowned public universities and balmy …
Josh Sigurdson talks with author and economic analyst John Sneisen about the latest news out of California as the housing bubble continues to weaken and yet still get propped up by government through Governor Gavin Newsom’s latest housing initiative. UCLA …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter How do they stack up against the most splendid housing bubble in America? Holy cow! Canadian housing markets are in a category of their own. No housing market in the US – no matter how crazy …
The federal government would largely abandon its longstanding commitments to keeping the poorest people in the country off the streets if President Donald Trump’s proposed budget for the Department of Housing and Urban Development (HUD) were adopted. The plan unveiled …
by Amy S. The Economic Doomsday is here. The second financial bubble is going to soon burst, and there’s nothing anyone can do about it. The Federal Reserve has set up the American economy for financial collapse for printing trillions of …
Josh Sigurdson talks with author and economic analyst John Sneisen about the continuing decline of the Canadian housing markets as banks like BMO warn that this type of decline normally leads to a recession and that this recession will be …
by WARREN MOSLER It will take another few months to know if this is just ‘noise’ or it’s about to go negative. If you average the last two months, for example, it’s about 165,000 each: Highlights Averaging extremes is good …