Independent thinking for complex markets and current events
Photo by Roselyn Tirado From Brandon Smith We’re enduring a stagflationary crisis – there’s no way around it. It doesn’t matter how much oil Joe Biden dumps on the market from the Strategic Reserves. It doesn’t matter how many jobs he is able to temporarily buy with $8 trillion-plus deficit spending. It doesn’t matter how many times …
Fastest Declining US Housing Markets (1-Year Drop): 1. Austin, TX: -11.6%2. Boise, ID: -8.6%3. New Orleans, LA: -8.0%4. Lake Charles, LA: -8.0%5. Phoenix, AZ: -7.0%6. Las Vegas, NV: -7.0%7. Provo, UT: -6.7%8. Reno, NV: -5.7%9. Chico, CA: -5.7%10. San Jose, CA: -5.5%… — The Kobeissi Letter (@KobeissiLetter) October 22, 2023 As mortgage rates hit 8% …
https://t.co/zmQWd4sGpu — Win Smart, CFA (@WinfieldSmart) October 16, 2023 It was also reported that sales of multi-tenant apartment buildings dropped 74%, reaching a new record since 2009. Read more: https://t.co/z4NqPdSVqo — unusual_whales (@unusual_whales) October 17, 2023 The housing market … 2023 pic.twitter.com/nJu7YiHVYu — Wall Street Mav (@WallStreetMav) October 17, 2023
by TonyLiberty The housing market is in a difficult state, with low inventory, high mortgage rates, and high prices making it difficult for buyers to afford homes. Despite aggressive interest rate hikes by the Federal Reserve, home prices have remained high. First-time homebuyers are having difficulty competing with investors, who are able to make all-cash offers …
by confoundedinterest17 Wasting away again with Bidenomics, code for massive Federal subsidies to green energy donors. And incentives to buy impractical EVs. Imagine in an emergency and your car only goes 200 miles (and then you have to wait for an available charger to come open). Well, the top 1% are doing fine. But the bottom …
“Over 60,000 realtors have left the industry over the last 6 months, according to data from the National Association of Realtors” “Tens of thousands of real estate agents are giving up on the profession, thinning their pandemic-era ranks as the housing market comes back to earth. Why it matters: Realtors are on the ground floor of …
“The most incredible part about housing affordability? How much worse it is outside of the US. In New Zealand, it costs 250% more to buy than rent. In Canada, it costs 230% more to buy than rent. In Australia, it costs 150% more to buy than rent. In the UK, it costs 100% more to …
1. Adjusting for inflation, home prices are up 118% since 1965, while median household income has increased by just 15%. (2/9) pic.twitter.com/NeogOIDjIu — The Kobeissi Letter (@KobeissiLetter) August 21, 2023 Worrying Sign Not Seen Since the Great Recession: Mortgage Rates Could Hit 8% Mortgage rates exceeding 7% are straining the U.S. housing market with potential …
This week, mortgage rates in the US hit their highest since 2001. We are well above the 2008 highs and rising. After the Fed minutes were released today, rate expectations increased. Bumpy road for homebuyers. Follow us @KobeissiLetter for real time analysis as this develops. — The Kobeissi Letter (@KobeissiLetter) August 16, 2023 Mortgage rates …
In a clash of opposing forces, the U.S. housing market finds itself embroiled in a fierce battle. On one side, deteriorated affordability resulting from a spike in mortgage rates from 3% to over 6% in 2022, just after national home prices surged by more than 40% during the Pandemic Housing Boom, is exerting downward pressure …
The California mass exodus is still alive and well. Not only are Americans still leaving California over its out-of-control policies and completely left-wing vision for 2035, but they are ditching the state for Texas. According to a survey from StorageCafe, the exodus is even beginning to speed up: Not only is California to Texas migration not slowing down …
Lenders now seeing 60-, 70-, even 90-year mortgages as Canadians struggle with rocketing interest rates Now, in the face of crippling interest rates, some existing homeowners are seeing their amortization period go as high as 90-years as their ‘fixed-payment’ variable-rate mortgages adjust automatically to rising interest rates. “We’ve seen 60 years, 70 years, and we …