by Simian_Stacker Sell the insane $2.6 TRILLION in MBS NOW! If not now, when?! Who gave the Fed authority to hijack the entire US housing market just to make the rich even richer? Shelter inflation is destroying working class families …
Single family permits imploded -6.5%, down to 730K SAAR from 781K, lowest since May 2020. Housing so unaffordable nobody even bothering to build it. pic.twitter.com/oNl7VjfEGl — zerohedge (@zerohedge) January 19, 2023
A new lawsuit has been filed challenging Seattle’s “Mandatory Housing Affordability” ordinance because it makes housing unaffordable in the city. The case is being brought by the Institute for Justice on behalf of Anita Adams and her family. The idea …
“According to the Canadian Housing Statistics Program, over three-quarters, more than 77 per cent, of the condos in B.C. and more than two-thirds, almost 70 per cent, of those in Ontario that were not being lived in by the homeowner …
Food, electricity, and rent have become unaffordable for hardworking Americans. Biden thinks that is something to celebrate. — Sen. Marsha Blackburn (@MarshaBlackburn) September 19, 2022 Electric Bills Soar Across the Country as Winter Looms: WSJ Rising natural-gas prices amid …
by confoundedinterest17 Housing in the US is simply unaffordable for the middle class and low-wage workers. Combine rising food costs and gasoline/heating costs, and we have an economic disaster on our hands. US existing home sales for June will be released on Wednesday. …
by confoundedinterest17 US housing is getting simply unaffordable. US mortgage rates are soaring, US home prices are soaring, The Fed’s balance sheet is still growing, and US average hourly earnings are growing at a fraction of home price growth. The unafforable nature …
A look into southern hemisphere crop losses with Paraguay downgrading 60% this years soy bean harvest and the Tonga eruption dropping acid rain and ash across continents below the equator. Add in Russia/Ukraine and fertilizer/herbicide shortages. This is what we …
by confoundedinterest17 Happenings two months ago. The Case-Shiller home price index is out for … November 2021. The Case-Shiller National home price index “slowed” to 18.81% YoY in November as The Fed continues its monetary stimulypto. Notice that The Fed is easing …
by confoundedinterest17 Mortgage Orb has the tantalizing headline: “Fannie Mae’s Financing for Multifamily Affordable Housing Grew Over 23%.” At first, this sounds amazing … until you realize how simply unaffordable housing is much of urban/suburban America. If you look at the following chart, you …
BY JOHN RUBINO Home prices have never been higher when compared to the average family’s income. This kind of imbalance is normally a sign of an impending crash in home sales, followed by a drop in prices. But that’s not happening. …
by confoundedinterest17 Simply unaffordable is what singer Robert Palmer would say. Homes, that is. Mortgage applications increased 2.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 6, …
by Charles Hugh-Smith When the 4% who generate the jobs and tax revenues have had enough and leave, the effects quickly impact the 64%. At the end of any trend, everyone’s a true believer: this trend is so enduring, so broad-based, …
by Charles Hugh-Smith The forced flight from unaffordable and dysfunctional urban regions is as yet a trickle, but watch what happens when a recession causes widespread layoffs in high-wage sectors. For hundreds of years, rural poverty has driven people to …
by Chris Tons of stories out there like these: Americans are dying because they can’t afford insulin Living with Type 1 Diabetes When You Can’t Afford Insulin Insulin is too expensive for many of my patients. It doesn’t have …
via forbes: The Senate Banking Committee held two hearings on housing finance reform last week, proving once again the truth of that old adage: The more things change, the more they stay the same. If the Senate witnesses looked familiar, that’s because they were. …
via economist: America’s ageing economic boom can still produce pleasant surprises. Companies added an astonishing 312,000 new jobs in December, the Bureau of Labour Statistics reported on January 4th, and raised pay at the fastest clip in years. For the third of …
by Shaun Richards It is time to look again at a subject which has been a regular topic in the comments section. This is what happens when national debt costs start to rise again? We have spent a period where …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter There are a lot of them. It’s called “crisis” for a reason. What is the most severely unaffordable housing market in North America as measured by local household incomes in relationship to local home prices? By …
by Umar Farooq Home sales across the Canada hit a record high in the month of March, mainly due to transactions in the fiercely hot market of Toronto, further fuelling concerns about the city’s real estate sector. The CREA …