Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter And with impeccable timing, an immense flood of new construction. In Sydney, breeding ground for one of the world’s biggest housing bubbles, prices of single-family houses dropped 7.3% in August, compared to a year earlier. Prices …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter New York condo prices fell again. Historic spikes slow in Seattle and other metros. On a national basis, home prices surged 6.2% in June compared to June last year (not seasonally-adjusted), and 0.8% from May, according to …
by Dave Kranzler of Investment Research Dynamics I remember vividly the scene in The Big Short when a housing broker was driving the “Steve Eisman” group around California’s “Inland Empire.” Home prices were dropping and the vista was littered with “for sale” signs. …
Do you think that real estate is overpriced globally for the average person? Real estate prices around the world have hit astronomical levels. People have been in a state of euphoria for a long period of time. Seeing home prices …
By Adam O’Dell I saw Harry at a planning meeting this week and as we were “talking shop” about the markets, we could only shake our heads in acknowledgement of the Fed’s lingering lift on the market. We agreed the Bank of Japan’s Halloween …
Nothing to see here, just another example of corporatism decimating the lives of everyday people https://www.youtube.com/watch?v=2GKmDIHuZfM Moldy walls, leaky roofs, rising rents. That’s what tenants of Stephen Schwarzman, Blackstone CEO, are living with. It’s time to repeal Costa-Hawkins. It’s time …
via reason: From Democrats incensed about Russian ad buys to Republicans convinced that the site censors Diamond and Silk, Facebook has been on the receiving end of a lot of hate lately. Yet the issue that could finally bring the hammer …
via @OccupyWisdom https://twitter.com/OccupyWisdom/status/1031414036443918337 https://twitter.com/OccupyWisdom/status/1031414044434030593 https://twitter.com/OccupyWisdom/status/1031414053015564289 https://twitter.com/OccupyWisdom/status/1031414060506595328 https://twitter.com/OccupyWisdom/status/1031355459192668161 https://twitter.com/OccupyWisdom/status/1031019388198182912 Bubble forever? Brokers are betting on the Fed stopping its timid balance sheet reduction at $3.8 trillion and a flatter yield curve. pic.twitter.com/OEDPqJOvkB — Daniel Lacalle (@dlacalle_IA) August 20, 2018
by Trivirus http://www.demographia.com/dhi2018.pdf Index number is median house price:median income. Notable US cities (Low end): 1 U.S. Rochester, NY 2.6 2 U.S. Cincinnati, OH-KY-IN 2.7 2 U.S. Cleveland, OH 2.7 4 U.S. Buffalo, NY 2.8 4 U.S. Oklahoma City, OK …
Talk Digital Network, Released on 8/18/18
Caught this one on the nightly business report. More proof that the housing market is softening. Could hurt consumer spending. Sydney, London, Stockholm, Bejing and a few more. https://www.bloomberg.com/news/articles/2018-07-31/are-house-prices-falling-from-sydney-to-new-york h/t Throwawayacct449393
via CNBC: Approximately 14 percent of all listings in June had undergone a price cut, that’s up from a recent low of 11.7 percent at the end of 2016, according to a new report from Zillow. Home price growth is …
by WARREN MOSLER June was revised lower, so best to hold back judgement on July until August is released. Note vehicles were revised quite a bit lower for June, with the initially reported .9 jump suspect in any case: Highlights …
https://www.youtube.com/watch?v=CzvKmCpiXzU Joseph Lawler for the Washington Examiner reports, Housing and Urban Development Secretary Ben Carson moved Monday to overhaul a major Obama-era fair housing rule, aiming to shift the focus of the policy from discouraging segregation to increasing the housing …
via cbc.ca: New Zealand has banned most foreigners from buying homes as it tries to tackle runaway housing prices. The housing market had been open to investors worldwide, but the government on Wednesday passed legislation that allows only New Zealand residents to …
Let me know what city you think prices are WAY too high? (Compared to wages) Look around the U.S. and the rest of the world. Chances are that housing is so unbelievably expensive that the average household is facing an …
by stockboardasset According to the latest numbers from Acadata Ltd., a housing bubble in the UK is steadily deflating due to the economic uncertainties surrounding Brexit, along with tighter monetary conditions via the Bank of England, which could alleviate lingering affordability issues. British …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter The inflection point was in June. This is how inflection points show up at the subcutaneous level in all housing markets. The first obvious sign that something was up, that something wasn’t going the right way, …
by stockboardasset California’s housing affordability crisis is progressively getting worse. It has now plummeted to its lowest level in 10-years, and less than one in five households can afford to purchase a median-priced single-family home in the Bay Area, according to …
By Harry Dent In San Francisco, a household now needs an income of $188,000 to afford rent for the average two-bedroom house or apartment with 30% of the household income spent on housing. The problem is that the median income is …
via @OccupyWisdom : 🏠 US #mortgage applications decreased to lowest in 2.5 years 🏠 US mortgage applications for refinancing are at lowest in 17.5 years 🏠 Share of refinancing smallest share since August 2008 🏠 US resales -.06% housing starts -12.3% new …
https://twitter.com/OccupyWisdom/status/1027052686489870336 pic.twitter.com/oWy79Vtfcy — Financial Survivalism (@Sawcruhteez) August 8, 2018 The housing market has entered a recession of its own and nobody seems to notice. Mortgage apps sank 3% in the Aug 3rd week, down now for four weeks running, and …
Wolf Richter with Jim Goddard on This Week in Money: The underlying dynamics are similar, but the approach is different. Home prices experience a historic spike in Seattle, and sharp increases in other metros, but prices of condos in New York …
Blamed: political and economic uncertainty, Brexit, and the very measures designed to tamp down on London’s housing bubble. By Don Quijones, Spain, UK, & Mexico, editor at WOLF STREET. Countrywide, the UK’s largest real-estate services group with over 10,000 employees in 900 …
by John Rubino Just a few months ago, real estate was on fire. Prices were blowing past records set during the previous decade’s housing bubble as desperate buyers bought whatever was available at above the asking price while homeowners, confident that …
Aug 2 – FS Insider welcomes real estate expert Rick Sharga for an update on the US housing market. Rick discusses the recent double-digit decline in Southern California home sales, whether this is a leading indicator for…
https://www.youtube.com/watch?v=HH32XLiPkTk The whole u.s. economy is an illusion and been falling into the abyss since 2008/2009 DH
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Historic spike in Seattle. Sharp increases in other metros. New York condos fall. Homes prices in the US surged 6.4% in May compared to May a year ago (not seasonally-adjusted), and 1.1% from April, according to …
by Michael Snyder Is the United States heading for another absolutely devastating housing crash? It has been 10 years since the last one, and so many of the exact same signs that immediately preceded the last one are starting to appear …
From Birch Gold Group The U.S. has enough bumps on the road with mortgages following a similar script to 2008, the unwinding of QE, and the slowly rising “Goldilocks Economy” that’s about to have a hangover. Well strap in, because housing sales in key markets …