Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Forget the hype about a shortage of supply. In its report today on existing-home sales in September – they fell by 4.1% from a year ago to the lowest level since November 2015 — the National Association …
via CNBC: Housing stocks are getting crushed. Two major homebuilder stock-tracking ETFs, the ITB and the XHB, are on track to post their worst years since 2008 — and some strategists see further downside. Lennar and KB Home fell more than 2 percent Wednesday after Credit …
by WARREN MOSLER Gone from bad to worse: Highlights The highest interest rates in over 7 years took their toll on mortgage activity in the October 12 week, with purchase applications for home mortgages falling a seasonally adjusted 6 percent …
Do you think the Fed will raise interest rates 1 more time in 2018? There are several ways to look at housing to be able to determine the direction prices will go. We can simply look at the price index …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter “THE WOLF STREET REPORT” is my new podcast. It’ll appear weekly right here on WOLF STREET. It’s where I discuss a topic in depth for 10-20 minutes. In this inaugural edition, I ask: As higher interest …
from Zero Hedge With US consumers suddenly dreading to see the bottom line on their next 401(k) statement, they now have the housing market to worry about. As interest rates spiked in the past month, one direct consequence is that U.S. …
by Thinker Will the housing crash and economic collapse happen in 2018? The housing market indicated that a crisis was coming in 2008. Is the same thing happening once again in 2018? For several years, the housing market has been …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter What many in 2016 thought would never happen again is now reality. It finally happened – a line in the sand has been breached. The average interest rate for 30-year fixed-rate mortgages with conforming loan balances …
by Dave Kranzler of Investment Research Dynamics The Denver Post published an article last week titled, “Major cold front slams Denver housing market in September” (note, weather-wise, September was one of the warmest and driest in many years). Single-family home sales in September plunged 30.5% …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter This is what it looks like on the ground: The home on 1704 Hurlbut in Sebastopol, Sonoma County – a pricey area a little north of San Francisco, between the Pacific and Napa County – was …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Sales volume drops to lowest for any Sept going back to 2005. Condo prices drop to Oct 2016 level. House prices drop 11% from Peak Trump Bump. It’s not fun anymore. This is a phenomenon that …
Sheila Gunn Reid of The Rebel.Media reports: Immigration, Refugees and Citizenship Canada will be housing asylum seekers in Toronto area hotels and motels for four more weeks. Watch as Sheila explains why that’s bad news for unsuspecting travellers. MORE: https://www.therebel.media/toronto_area_hotels_housing_asylum_seekers_inundated_with_bad_reviews
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Every housing bubble requires the connivance of the banks and regulators. Australia is no exception. Sydney’s housing bubble, one of the most magnificent in the world, is deflating further. So far this year, home sales volume …
Wolf Richter with Jim Goddard on This Week in Money: Interest rates will continue to rise in the US and Canada. In both countries, potential buyers face affordability issues, which puts a damper on demand. But in Canada, variable-rate and adjustable-rate …
September U.S. Auto Sales Expected To Collapse. Jeremy Acevedo, Edmunds’ manager of industry analysis, stated: “Vehicle replacement demand following Hurricane Harvey bolstered auto sales last September, and Hurricane Florence has had a very limited impact on auto sales this month, …
via Martin Pring Nonfarm payrolls are an economic series that is widely followed by the investment community. However, it’s a coincident indicator, meaning it tells you what is going on now, not what might happen in the future. Markets are forward-looking indicators …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter The average interest rate for 30-year fixed-rate mortgages with conforming loan balances ($453,100 or less) and a 20% down-payment jumped to 4.97% for the week ending September 21, the Mortgage Bankers Association (MBA) reported this morning. A week …
via palisade-research: Many of you know that I haven’t been exactly bullish on the U.S. housing market – especially the construction stocks. That’s why in early March I wrote about and recommended betting against the home builders (you can read that here and see how …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Seattle’s historic spike falters. New York condo prices back where they were last Sept. House-price bubbles in other metros get even more splendid. Home prices in the US surged 6.0% in July compared to a year ago …
Josh Sigurdson talks with author and economic analyst John Sneisen about the continued propping up of US housing bubbles across the board as mortgage rates hit a four month high. We have seen the return of the collateralized debt obligations …
https://twitter.com/OccupyWisdom/status/1044093424356544514 https://twitter.com/OccupyWisdom/status/1044091105103556608 https://twitter.com/OccupyWisdom/status/1043695189406244864
by Michael Snyder The housing market indicated that a crisis was coming in 2008. Is the same thing happening once again in 2018? For several years, the housing market has been one of the bright spots for the U.S. economy. Home …
Josh Sigurdson talks with author and economic analyst John Sneisen about the coming crash of many major Canadian housing markets as Canada is ranked the 3rd most riskiest housing market in the world. According to the study by Oxford Economics, …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Millennials are settling in urban centers. In many ZIP codes, they’re already the majority. And they spend their money on rent. It’s tough being a millennial. Millennials are accused of killing entire industries: casual dining chains …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Red indicates the moves since the inflection point in June. “Having a legal cannabis grower near your property has a significant negative effect on value due to the odors,” explained Thomas Stone, a real estate broker …
by DCG Mayor London Breed: Taking a $100 million risk with taxpayer dollars Like many west coast, progressive run cities, San Francisco has a homeless crisis. The city has doubled the amount of taxpayer money they spend on the crisis and …
via Bloomberg: In Hong Kong, a city of property superlatives, add this one: World capital of flipping office floors. Logistics heir Johnny Cheung Shun-yee made roughly HK$900 million ($115 million) in about nine months by buying and selling two floors …
I’m trying to find news or other media concerning a bubble prior to the 08 housing crash. For example If jib jab knew it was coming 2 years prior there had to be other sources. http://www.econ.yale.edu/~shiller/pubs/p1089.pdf I remember subprime started …
Fannie and Freddie 10 years later from CNBC. When the housing market began its epic and historic free-fall in 2008, mortgage giants Fannie Mae and Freddie Mac faced imminent collapse. The Treasury Department stepped in with a major bailout that …
via confoundedinterest: Since 2007, the inventory of existing homes sales has generally declined while median prices have skyrocketed. And home price growth has been exceeding wage (earnings) growth by around 2x-3x. But suddenly, 50 metro areas have seen a surge of …