via Grant’s Interest Rate Observer On Monday, the Real Estate Board of Greater Vancouver reported February results that could be classified as ghastly, with residential home sales plummeting 32.8% year-over-year to 1,484 units. That’s the lowest February sales total since 1985 and …
by Shaun Richards A subject raised by many of you in the comments section has been given something of an airing in The Times newspaper. An article has been written by Paul Johnson of the Institute of Fiscal Studies and …
Authored by Charles Hugh Smith via OfTwoMinds blog, It was always folly to believe that inflating asset bubbles could solve the structural problems of a post-industrial economy. The Doomsday Scenario for the stock and housing bubbles is simple: the Fed’s …
https://www.youtube.com/watch?v=w75Wl66eG8Y Will the economic collapse happen in 2019? Is the United States heading for another absolutely devastating housing crash? It has been 10 years since the last economic collapse and stock market crash, and so many of the exact same …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter San Francisco Bay Area & Seattle lead with biggest multi-month drops since 2012; San Diego, Denver, Portland, Los Angeles decline. Others have stalled. A few eke out records. San Francisco and San Diego are catching the Seattle cold, and others …
by WARREN MOSLER The notion behind what is called “Modern Monetary Theory,” or MMT, is that as long as the Fed can keep interest rates low without sparking inflation, the national debt and budget deficit won’t be an issue. MMT …
by Charles Hugh-Smith Unless the Fed is going to start buying millions of homes outright, prices are going to fall to what buyers can afford. There are two generalities that can be applied to all asset bubbles: 1. Bubbles inflate …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter It always boils down to this: Regardless of how thin you cut a slice of baloney, it always has two sides. When home prices drop after a housing bubble, there are many losers. But here are …
via Zerohedge: After NAHB’s optimism rebounded sharply earlier this week, all eyes are on this morning’s existing home sales data for any signs of optimism. Alas, with consensus expecting a tiny rebounding in January following December’s sharp drop, the deterioration …
https://www.youtube.com/watch?v=sqqUIUBUAuc With the U.S. and China coming back to the trade table to talk, we’ve got Peter Schiff from EuroPacific Capital to get some thoughts on what this could mean! Housing is a big market, but are domestic and international …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Fact is, home prices cannot outrun wages forever. The market, if it’s allowed to, can fix the affordability problem that exists in many cities in the US by finding price levels were first-time buyers can afford …
By Don Quijones, Spain, UK, & Mexico, editor at WOLF STREET. In some places, in particular prime markets in London and the south-east, house prices have been tumbling. According to London-based estate agency LonRes, average “achieved” prices: In Prime Central London: -6% …
“A building binge leaves cities with 65 million empty apartments” TOKYO/HONG KONG — For many single men in China, buying an apartment is a prerequisite for marriage. Yan Zhong, a 34-year-old resident of the northern city of Jinan, has hopes …
via americanexperiment: Seeing this problem, many people then demand that the government ‘do something’ about it. Typically, that ‘something’ involves spending more money or issuing a new raft of regulations. Thus, the $40 million Minneapolis Mayor Jacob Frey has earmarked in his 2019 budget for affordable housing and the $71 …
by David Haggith As happened with the first housing market crash that began in 2007 but didn’t become widely recognized until mid-2008, the present housing crisis began exploding one story at a time last summer, and this blog was perhaps the …
by Dave Kranzler of Investment Research Dynamics “Our advice is to own as little exposure U.S. equity exposure as your career risk allows.” – Martin Tarlie, member of portfolio allocation at Grantham, Mayo, Van Otterloo investment management The following is an excerpt from the …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Housing has became a global financialized asset class. The possibilities seemed unlimited. And this flow of money, along with local factors, has created enormous distortions in some markets. But the priciest markets are now starting to experience price …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter The largest three-months fall “since at least the 80’s”: CoreLogic “Can we still describe this as an orderly slowdown in housing conditions?” mused CoreLogic Asia Pacific’s head of research Tim Lawless about the Australian housing market today. Over …
from Jason Hartman’s Creating Wealth Today’s show features Jason Hartman discussing some of the main stories in the news today. The first story is one of the reasons Jason created Commandment #3 (Thou Shalt Maintain Control), the next is a potential …
Everyone remembers that housing prices were crushed during and even after the 2007-2009 financial crsis. Are we headed toward a repeat? https://www.youtube.com/watch?v=7QIn0HdNCeQ
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Seattle prices drop 5.1% in five months, most since Housing Bust 1; San Francisco Bay Area, Los Angeles, San Diego, Denver, Portland all decline. This is the most obvious one: Seattle. House prices in the Seattle …
Via Marketwatch All at once, storm clouds are gathering over the world economy. The International Monetary Fund has cut its estimates for global growth in 2019, citing concerns about weakness in Europe. China just had its slowest GDP growth since 1990, and …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter “Probably now enduring its most protracted period of price suppression since records began.” Here is an interesting and colorful tidbit on the housing market in Prime Central London, one of London’s most expensive areas and once …
Average home price in 2018 fell for first time since 2008, largest decline in the data going back to 2001. By Steve Saretsky, Vancouver, Canada, Vancity Condo Guide: National home sales across Canada slipped for the second consecutive year, dropping 11% …
by DCG From NY Post: Brad Pitt is caught in a hurricane of litigation over defective houses his Make It Right foundation built in New Orleans and he can’t find a graceful exit from the storm. Make It Right appears to be …
by Mac Slavo of SHTFplan Student loan debt is a fundamental crisis. Students are borrowing money to pay for school at an alarming rate. But as the problem worsens, it seeps into other sectors, such as the housing market, putting the entire economy …
by WARREN MOSLER Trade issues taking their toll: This too has gone flat: Nice mentions for Stephanie and a also bit for me here, as MMT is now on a roll: https://ftalphaville.ft.com/2019/01/16/1547640616000/America-has-never-worried-about-financing-its-priorities/
via paloaltoonline: Dennis Backlund spends most nights lying awake wondering where he’s going to live. Soon the day will come when he must leave his longtime home at the President Hotel Apartments as part of a mass eviction of every tenant …
Josh Sigurdson talks with author and economic analyst John Sneisen about the very real potential of a continued massive crash of the housing market in the immediate future. James Stack, a money manager from Montana who correctly predicted the 2008 …
