Post Tagged with: "Housing"
Houses most overvalued in Australia and Hong Kong, most undervalued in Japan
A few weeks ago, the Economist put out its quarterly gauge of house price values. Australia just beat out Hong Kong as the most overpriced market in the developed world, with an overvaluation of 56%. Japan was by far the most undervalued market, with an undervaluation of 35%. The only other housing markets that were
Does the rise in UK house prices change the underlying picture?
Nationwide Chief Economist Robert Gardner doesn’t think so? Yesterday, he spoke on CNBC Europe about why he sees continued housing stagnation in the UK. Gardner says an improvement in the labour market is what the UK needs to see the housing market improve. This is a 2012 event in his opinion. On the Nationwide website,
U.S. Housing Market: Down Trend May Be Slowing
Guest Author post by Steven Hansen, Publisher of Global Economic Intersection. Econintersect is using the Case-Shiller data release to overview the home price situation as of December 2010. Generally, all home price indexes are trending down. Econintersect begins with the opening of the Case-Shiller’s press release: Data through December 2010, released today by Standard &
Case-Shiller: US House Prices Are Closing In On the Post-Bubble Trough
The S&P/Case Shiller Home Price Indices shows that house prices in the U.S. continue to decline this winter. For data through December 2010, the broad Composite-20 index is down 2.4% compared to December 2009. The Composite-10 index is down 1.2% in that time frame. While these numbers were in line with expectations, they point to
Video: Edward Hugh at the LSE on the Internet and Credit Crisis
This is the excellent video of Edward Hugh at the London School of Economics this past Monday speaking about the intersection of finance, macroeconomics, housing and sovereign debt in the Credit Crisis. (hat tip afoe). The topic is on how the Internet has changed Macroeconomics in the wake of the credit crisis. The real subtext
Freddie Mac: Tone Deaf at the Top
By William K. Black Freddie Mac made a terse announcement Wednesday in a securities filing about the resignation of its chief operating officer, Bruce Witherell. Freddie said that Witherell resigned "for personal reasons." His departure was effective immediately and he received no termination benefits. He had been receiving several millions of dollars in annual compensation
Find the Hat
“If spending an amount equal to half of the world’s second largest GDP to buy up foreign currencies is not currency manipulation, then what is?” -Martin Wolf, Financial Times The perils of Chicago Many moons ago, long before I joined Goldman Sachs, a London based employee of the firm went to Chicago to attend a
Nationwide: House pries down again in the UK in January
The latest Nationwide House Price Index update is out showing a decline of 0.1% in January 2011. That brings house prices down 1.1% since this time last year. Nationwide has a new Chief Economist, Robert Gardner, who writes: "The property market entered 2011 with a whimper rather than a bang, with house prices edging down
Housing bad, Consumer confidence good… What gives?
The gist of the conversation we had on Business News Network on Tuesday was that the data coming out of the U.S. ahead of the President’s State of the Union address was conflicting. Housing was dreadful, but consumer confidence was up; what’s happening? Here’s my take: Technical recovery almost over. We are leaving the technical
Case-Shiller numbers confirm housing double dip
The Case-Shiller numbers this morning were lower than expected and confirm a housing double dip which began in July when both the Composite-10 and Composite-20 numbers peaked. The Composite-10 is down 0.5% y-o-y and the Composite-20 is down 1.6% y-o-y. While housing is expected to be a drag on the economy over the near term,
How to Regulate Mortgage Lending, Part 1
By William K. Black (cross-posted from Benzinga.com) “Regulating” and “deregulating” are terms that often mislead. My next three columns discuss how to regulate two diverse activities that are critical to our economy – residential mortgage lending and starting small businesses. This column explains the most regulatory approaches essential to regulate residential mortgage lending effectively. Next
Spain’s Cajas to Reveal Real Estate Losses
The Bank of Spain is to force the cajas, Spanish savings banks to reveal the extent of their property losses. The thinking behind this move is the same as the thinking that prompted the stress tests in both the US and Europe; officials believe that these exercises will demonstrate greater transparency and assuage investor concerns