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Newsfeed: US Homebuilder Confidence Collapses In October, Future Sales Hope Hits Decade-Lows

Newsfeed: US Homebuilder Confidence Collapses In October, Future Sales Hope Hits Decade-Lows

It appears delusion and hope can only last so long – even when one’s salary depends on it – as US homebuilder confidence crashed to COVID lockdown lows in October after refusing to see what everyone else was seeing more months.. and what homebuyers were clearly feeling as prices soared along with mortgage rates and devastated affordability for most Americans. Against expectations of a small drop from 46 in September to 43 in October, the headline confidence index crashed to 38 – its lowest since the nadir of COVID-lockdown panic (that was worse than the weakest forecast of all economists surveyed)…

Newsfeed: US Homebuilder Confidence Collapses In October, Future Sales Hope Hits Decade-Lows Read More »

Newsfeed: Ugly, Tailing 10Y Auction Stops At Highest Yield Since 2009 As Foreign Buyers Flee

Newsfeed: Ugly, Tailing 10Y Auction Stops At Highest Yield Since 2009 As Foreign Buyers Flee

We said that yesterday’s subpar auction was a harbinger that today’s benchmark sale of 10Y paper (in the form of the 9-Year 10-Month reopening of Cusip FF3). We were right, because moments ago the Treasury sold $32BN in 10Y notes in another very poor auction.

Newsfeed: Ugly, Tailing 10Y Auction Stops At Highest Yield Since 2009 As Foreign Buyers Flee Read More »

Newsfeed: Rent Inflation Hits Outer-Ring Suburbs the Most, Core Cities the Least

Newsfeed: Rent Inflation Hits Outer-Ring Suburbs the Most, Core Cities the Least

In the earliest phases of the pandemic, many of the nation’s large cities saw sharp rent declines as a subset of renters with newly remote working arrangements moved away from expensive downtown areas that had temporarily lost their vibrancy, in search of more space in the surrounding suburbs.

Newsfeed: Rent Inflation Hits Outer-Ring Suburbs the Most, Core Cities the Least Read More »

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