Post Tagged with: "Housing"
More on China’s Housing Market and Other Links
Topic of the day: China’s Housing market (no links yesterday, but a bunch today. Here is the topic of the day: China and its housing market. What we want to see is a soft landing. But irrespective of this, the question is what a soft/hard landing means for the real economy because of bank credit
Whither China?
By John Mauldin Now let’s turn to China. I received this report from Simon Hunt (who is based in London, and who makes my travel schedule look positively pedestrian). Besides being an expert on the copper market he is a serious student of China, travelling there often. He has developed a number of very insider
The Found Lost Decade
By Annaly Capital Management. On Tuesday July 27th, the Census Bureau released homeownership rate data for the second quarter of 2010, which showed a continued decline to 66.9% from a peak of 69.4% in 2004. This rate hasn’t been below 67% since 1999, a round trip in just over a decade. “Lost Decade” graphs have
Chart of the Day: Home Builder Stocks and New Home Sales
In a note to investors today, a well-regarded strategist on the equity sales desk at a major sell side firm put up the following two Bloomberg charts next to each other. The two charts reflect different time frames but are from related data sets. The first chart is a long-time series dating from 1963, the
Annaly: Soft Economic Data Has Meant Increased Risk Aversion
The July 2010 Monthly Commentary By Annaly Capital Management The Economy The S&P 500 finished June down 5.4%, while Treasuries enjoyed a significant rally. The yield on the 10-year shed more than 30 basis points and ended the month below 3% for the first time since April of 2009. This could be representative of a
US Data Disappoints–Adds to Dollar Selling Pressure
US data have been disappointing. The weekly initial jobless claim increase has been followed by a weaker than expected ISM manufacturing report. The ISM fell to 56.2 from 59.7. The consensus had anticipated a smaller decline to 59. Weakness was especially pronounced in new orders, which fell to 58.5 from 65.7 Employment eased to 57.8
First Time Homebuyer Traffic Plunged in May
Campbell/Inside Mortgage Finance Monthly Survey of Real Estate Market Conditions reports that homebuyer declined in May, as would be expected with the end of the latest federal home purchase tax credit. The most dramatic drop was with first time homebuyers, which was the category that led in home purchases the past several months. First time
Robert Byrd and Housing
A post by Annaly Capital Management The death of Senator Robert Byrd (“an institution within an institution” is what President Obama called him) may be the butterfly wings that alter the financial landscape of the United States. Without him, it is not entirely clear whether there are 60 votes to pass the financial regulatory reform
Case-Shiller: Highest Year-on-Year Numbers in Four Years
This morning Case-Shiller released a report showing the largest price increase in the American residential property since August 2006. Prices for April 2010 in the broad Composite 20 index were up 3.9% year-on-year while prices in the Composite-10 are up 4.7 in the prior twelve months. Digging deeper into the non-seasonally adjusted data, 17 of
Comstock: It’s More Than Just A “Scare”
Below is the weekly commentary from Comstock Partners. The softening in the economy that we have been looking for is now becoming a reality as a wide sampling of the latest monthly or weekly economic releases clearly indicates that a slowdown is now underway. We cite the following. On the consumer spending front, May retail
Horrific US New Home Sales — Reduce Risk
The 32.7% decline in new homes sales to a new cyclical low has actually sparked a bout of dollar and yen buying on risk aversion. The revisions to the March and April time series also point to a much weaker picture than we had. The dollar had already turned better bid before the news as