Privately owned housing starts in February came in at a seasonally adjusted annual rate of 1,450,000. This is 9.8 percent above the revised January estimate of 1,321,000, a much bigger jump than the expected 0.1 percent increase.
Newsfeed: Breitbart Business Digest: Light at the End of the Housing Tunnel Read More »
In the most recent quarter, investor home-buying saw the largest drop since the 2008 financial crisis—30-percent year-over-year, according to Redfin.
Newsfeed: Investor Home-Buying Falls at Record Rate Read More »
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.
Newsfeed: Are Rent Controls Coming? Read More »
With homebuilder sentiment collapsing, it should be no surprise that analysts expected housing starts and permits to tumble in October, and they were right with starts dropping 4.2% MoM and permits down 2.4% MoM…
Newsfeed: US Single-Family Housing Permits Plunge To COVID Crisis Lows, Starts Slump Read More »
Americans are sitting on tons of home equity, but the cost to tap it is getting too high. In the first quarter of 2022, total home equity for all owner-occupied properties grew by $1.6 trillion to $39.7 trillion from the previous quarter.
Newsfeed: Housing: It’s getting expensive to tap record home equity Read More »
U.S. mortgage rates jumped more than half a percentage point this week, an increase not seen in decades and one sure to price even more Americans out of the housing market.
A little over a month ago, when mortgage rates were still “only” 5% we shared several devastating anecdotes from real estate agents and industry execs who validated our worst fears: US housing was imploding… fast, with subsequent observations only confirming this dire conclusion about the state of the most popular asset class among the US middle class.
Amid surging layoffs in the real estate market, slumping homebuilder sentiment, soaring rates and plunging mortgage applications, it is no surprise that analysts expected a drop in Housing Starts and Permits in May (-1.8% MoM and -2.5% MoM respectively). Those numbers were destroyed as Housing Starts crashed 14.4% MoM and Permits plunged 7.0% MoM…
Newsfeed: US Housing Starts, Permits Collapse In May Read More »
Black Knight publishes a monthly Mortgage Monitor report that contains interesting information on the mortgage market and housing.
With US Macro Surprise data in freefall throughout May, expectations were for Manufacturing sentiment surveys to slide (ISM extending its weakness and PMI confirming its flash dip).