Newsfeed: April New Home Sales Decline Sharply, almost 6 Months of Inventory Under Construction
The Census Bureau reports New Home Sales in April were at a seasonally adjusted annual rate (SAAR) of 591 thousand.
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May 24, 2022
Newsfeed: US PMIs Disappoint In May, Signal Growing Stagflation Fears
Amid a slew of disappointing US Macro data, preliminary May US PMIs were expected to show slowdowns in btoh manufacturing and services, and the actual prints were worse than expected
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Newsfeed: US New Home Sales Collapse In April
Following the unexpectedly large decline in existing home sales (directionally not unexpected given the surge in mortgage rates, plunge in mortgage apps, slump in homebuilder sentiment, drop in building permits, and weakening in labor market signals that are emerging), analysts expected new home sales to slide 1.8% MoM in April.
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Newsfeed: Startling exodus to Florida accelerating despite NY reopening after COVID restrictions
Last year, I pointed out that the foreclosure moratorium, combined with the expiration of a large number of forbearance plans, would NOT lead to a surge in foreclosures and impact house prices …
Newsfeed: Dow, S&P 500 head for worst start to a year since 1970 — for tech it’s the worst in history
Wednesday will mark the 100th trading day of 2022, a year that will likely be remembered for its historic market turbulence as the megacap tech stocks that had dominated the market for so long collapsed in what has been the most punishing retrenchment since the dot-com bust.