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Newsfeed: Home sales fell for the ninth straight month in October, as higher mortgage rates scared off potential buyers

Newsfeed: Home sales fell for the ninth straight month in October, as higher mortgage rates scared off potential buyers

Home sales declined for the ninth straight month in October, as higher interest rates and surging inflation kept buyers on the sidelines. Sales of previously owned homes dropped 5.9% from September to October, according to the National Association of Realtors. That is the slowest pace since December 2011, with the exception of a very brief drop at the beginning of the Covid-19 pandemic.

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Newsfeed: The Housing Boom Is Already Over. The Housing Shortage Will Continue.

Newsfeed: The Housing Boom Is Already Over. The Housing Shortage Will Continue.

As mortgage rates have risen this year, the buyer demand for homes has fallen. That has spelled trouble for the home construction business. Homebuilder confidence dropped for the tenth straight month in October. The decline in builder sentiment reflects what economist Ian Shepherdson describes as “housing … in free fall.

Newsfeed: The Housing Boom Is Already Over. The Housing Shortage Will Continue. Read More »

Newsfeed: Are Rent Controls Coming?

Newsfeed: Are Rent Controls Coming?

As mentioned in a previous post, when I have looked at previous right to left, and left to right political swings, they seem to happen globally, and they seem to happen roughly at the same time. A global shift left happened in the 1930s, and kept shifting until 1970s, when it began to shift back to the right. We are now well into a shift back to the left, that began in 2016. As also highlighted, modern democracies are filled with checks and balances to slow political shifts, but they still happen.

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Newsfeed: Housing Affordability Worsens As Homeownership Out Of Reach For Anyone Making Under 0k

Newsfeed: Housing Affordability Worsens As Homeownership Out Of Reach For Anyone Making Under $100k

The US housing affordability crisis continues to worsen as mortgage rates skyrocket to two-decade highs while the cost of an average home is still at bubbly levels. Financing costs are through the roof, and anyone earning less than $100,000 has been priced out of homeownership. 

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Newsfeed: Inflation Huge Miss: Core CPI Slides From 40-Year-High, Real Wages Tumble For 19th Straight Month

Newsfeed: Inflation Huge Miss: Core CPI Slides From 40-Year-High, Real Wages Tumble For 19th Straight Month

It’s that time of the month again. The ‘most important’ CPI print in history, since the last ‘most important’ CPI print, is expected to show some moderation in October data (but remains at extremely high historical levels in both headline and core), and it did just that and then some:

Newsfeed: Inflation Huge Miss: Core CPI Slides From 40-Year-High, Real Wages Tumble For 19th Straight Month Read More »

Newsfeed: Redfin Fires 13% Of Staff, Exits House Flipping As Downturn Accelerates

Newsfeed: Redfin Fires 13% Of Staff, Exits House Flipping As Downturn Accelerates

House prices are sliding, and sales are plunging as the Federal Reserve hits the pause button on quantitative easing this year with the most aggressive interest rate hikes in four decades to cool the red-hot housing market spurred by low interest rates and tight inventories during the pandemic.

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Newsfeed: Mystery Whales Baffle Gold Market After Central Bank Purchases

Newsfeed: Mystery Whales Baffle Gold Market After Central Bank Purchases

A normally dry research report jolted the gold market this week, when it pointed to massive but so far unidentified sovereign buyers. Central banks bought 399 tons of bullion in the third quarter, almost double the previous record, according to the World Gold Council. Just under a quarter went to publicly identified institutions, stoking speculation about mystery buyers.

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