High mortgage rates, persistent inflation and economic woes are making expensive parts of the country less attractive and relatively affordable places more popular. Migration out of Los Angeles, New York, Washington, D.C. and Boston has picked up from last year.
More builders are lowering prices for homes as their confidence in the market continues to tumble. Homebuilder sentiment in September fell 3 points to 46 in the National Association of Home Builders/Wells Fargo Housing Market Index. Anything below 50 is considered negative.
Newsfeed: More homebuilders lower prices as sentiment falls for ninth straight month Read More »
Treasury yields climbed on Monday as traders anticipated the Federal Reserve’s next moves in the face of persistently high inflation.
Newsfeed: 10-year Treasury yield jumps to 3.51%, the highest level since 2011 Read More »
Last November, housing consultancy firm Zillow lobbed the first warning shot that the housing bubble had burst, when it shocked markets by firing 25% of its workforce, and announcing it had scrapped its robo-flipping program after losing hundreds of millions by allowing robots to buy and sell homes.
As inflation remains at the highest level in more than 40 years, millions of Americans are facing financial hardship due to rising consumer prices.
Newsfeed: Inflation Causing Hardship For Majority Of US Households Read More »
And the hits just keep on coming for the US housing sector. Three months after hitting the highest level in 14 years, on Thursday mortgage rates hit a fresh post-financial crisis high when they topped 6%, a jolt to home buyers who last year were paying less than half that.
Expectations for a 0.1% MoM drop in CPI has set the squeeze-algos on fire in recent days as the small drop signals ‘peak inflation’ and goldilocks and a unicorn-filled Fed will step back and declare victory (with a lag). Short-term interest-rates – however – have not been buying that dovish story, so how the market reacts to today’s print will be fascinating given the technical background of extreme negative delta and positioning, and now momentum. The market was pricing in a 90% chance of a 75bps hike by The Fed next week ahead of the CPI print.
Newsfeed: US Consumer Prices Blow Away Expectations, Rise For 27th Straight Month Read More »
The problem with an energy crisis is that it’s actually an everything crisis. In a world where virtually every industry relies on energy in some form, runaway inflation is an inevitability. This phenomenon is not news – you’ve been experiencing it for the better part of two years now. But while global governments are using every tool in their kits to curb the rising inflation rates, there’s far less they can do about the coming food shortage.
Newsfeed: Europe’s Natural Gas Shortage Could Trigger A Food Crisis Read More »
Globally, debt and equity capital markets lost around $23 trillion of ‘wealth’ in Q2 as Putin’s invasion sent commodity prices higher, slammed stocks on recession fears, and central banks around the world engaged in policy-tightening to battle the inflationary monster at their doors.
Newsfeed: US Household Net Worth Crashed By Most Ever In Q2 Read More »
Hedge fund manager Kyle Bass’ private equity firm is placing big bets on land. Bass is buying tens of thousands of acres of Texas dirt which appears out of the norm for the hedge manager, considering he has wagered complex macro trades in financial markets for over two decades.
Newsfeed: Kyle Bass Acquires Texas Land As Boom Times Could ‘Last At Least A Decade’ Read More »