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  • Thu, Aug 11 2016
  • 10:59 AM » Prospective Buyers Still Struggle to Find Starter Homes
    Published Thu, Aug 11 2016 10:59 AM by www.builderonline.com
    First-time home buyers are returning to the market but with few options for starter homes.
    Click Here to Read the Full Article

    Source: www.builderonline.com
  • 8:44 AM » Memory Lane: From 2005 just as Housing Inventory started to Increase
    Published Thu, Aug 11 2016 8:44 AM by Calculated Risk Blog
    A quick trip down memory lane. Here are couple of posts from August 2005 when we were looking for the housing top. Inventory was the key - and inventory was just starting to increase. Sign, Sign, Everywhere a Sign The first photo - from August 2005 - shows four houses in a row for sale in my neighborhood (the signs were everywhere). And back when I wrote at Angry Bear: Signs of the Times The second photo - from the 2005 Angry Bear post - was from the O.C. Register showing three in a row. This graph is based on the June 2016 existing home sales report . Inventory really started to increase in the second half of 2005, and increased sharply in 2006. Inventory was the key in calling the top (the bubble was obvious, but the timing of the bust was a little more difficult). First came the increase in inventory and then prices peaked in early 2006. I still watch inventory closely!
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:38 AM » There's A Home Renovation Boom, But Good Luck Finding A Contractor
    Published Thu, Aug 11 2016 8:38 AM by www.npr.org
    With rising home prices and low interest rates, Americans are spending a record amount of money fixing up their kitchens, bathrooms and man-caves. But a lack of skilled workers is limiting the boom.
  • 8:38 AM » Brooklyn Apartment Rents Fell in July for the First Time in 2016
    Published Thu, Aug 11 2016 8:38 AM by Bloomberg
    Bloomberg Brooklyn Apartment Rents Fell in July for the First Time in 2016 Bloomberg An apartment-construction boom in Brooklyn is putting a cap on rents in the New York borough as a surge of new units erodes landlords' pricing power. The median monthly rent declined last month for the first time this year, dropping 0.8 percent from ... and more »
  • 8:35 AM » Reverse mortgages might not be a bad move for many retirees
    Published Thu, Aug 11 2016 8:35 AM by CNBC
    Reverse mortgages can provide retirees with much-needed guaranteed income but they might not be a good fit for everyone.
  • Wed, Aug 10 2016
  • 4:48 PM » Could Millennial Homeownership Be on the Rise?
    Published Wed, Aug 10 2016 4:48 PM by www.realtor.com
    Lately, the news is fewer millennials are buying homes. But more older millennials own homes compared with the same group of individuals before the housing crisis. The post Could Millennial Homeownership Be on the Rise? appeared first on Real Estate News and Advice - realtor.com .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 3:10 PM » There Are All Kinds of Signs of a High-End Real Estate Slowdown
    Published Wed, Aug 10 2016 3:10 PM by Bloomberg
    Bloomberg There Are All Kinds of Signs of a High-End Real Estate Slowdown Bloomberg According to real-estate website StreetEasy, 12 of the condos in Manhattan currently listed at over $20 million have had their prices cut by 5 percent or more in recent months, while only 2 of them have seen any increase in their listing price. Among ...
  • 3:09 PM » Real-Estate Agents Who Use Photos on Business Cards: Smart or Silly?
    Published Wed, Aug 10 2016 3:09 PM by www.realtor.com
    Brokers frequently include a headshot in their marketing materials, but this strategy has its pitfalls. The post Real-Estate Agents Who Use Photos on Business Cards: Smart or Silly? appeared first on Real Estate News and Advice - realtor.com .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 1:31 PM » Americans' Assessment of U.S. Job Market Slightly Worse
    Published Wed, Aug 10 2016 1:31 PM by www.gallup.com
    About four in 10 Americans (39%) in August say it is a good time to find a quality job, down slightly from 43% in July.
    Click Here to Read the Full Article

    Source: www.gallup.com
  • 12:33 PM » Ben Bernanke explains why Fed's not going to be raising rates for a while
    Published Wed, Aug 10 2016 12:33 PM by CNBC
    Chastened over their forecasting errors, Federal Reserve officials will be less likely to tip their hands.
  • 12:30 PM » The Bank of England Just Learned a Lot About Bond Market Liquidity
    Published Wed, Aug 10 2016 12:30 PM by Bloomberg
    Bloomberg The Bank of England Just Learned a Lot About Bond Market Liquidity Bloomberg You can't always get what you want. On Tuesday, the Bank of England didn't manage to buy all the gilts it wanted at a reverse auction - the first such shortfall since it began its bond-buying program back in 2009. The 'uncovered auction' happened as ... and more »
  • 11:01 AM » BLS: Job Openings "little changed" in June
    Published Wed, Aug 10 2016 11:01 AM by Calculated Risk Blog
    From the BLS: Job Openings and Labor Turnover Summary The number of job openings was little changed at 5.6 million on the last business day of June , the U.S. Bureau of Labor Statistics reported today.> ... ... The number of quits held steady in June at 2.9 million. The quits rate was 2.0 percent. Over the month, the number of quits was little changed for total private and increased for government (+18,000). The number of quits increased in state and local government education (+20,000) and was little changed in all other industries. emphasis added The following graph shows job openings (yellow line), hires (dark blue), Layoff, Discharges and other (red column), and Quits (light blue column) from the JOLTS. This series started in December 2000. Note: The difference between JOLTS hires and separations is similar to the CES (payroll survey) net jobs headline numbers. This report is for June, the most recent employment report was for July. Click on graph for larger image. Note that hires (dark blue) and total separations (red and light blue columns stacked) are pretty close each month. This is a measure of labor market turnover.  When the blue line is above the two stacked columns, the economy is adding net jobs - when it is below the columns, the economy is losing jobs. Jobs openings increased in June to 5.624 million from 5.514 million in May. The number of job openings (yellow) are up 9% year-over-year. Quits are up 6% year-over-year. These are voluntary separations. (see light blue columns at bottom of graph for trend for "quits"). This is solid report with job openings just a little below the record high set in April 2016.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 11:00 AM » Home-Price Gains Unfettered in Most Metro Areas during Second Quarter
    Published Wed, Aug 10 2016 11:00 AM by Google News
    WASHINGTON (August 10, 2016) — Home prices maintained their robust, upward trajectory in a vast majority of metro areas during the second quarter, causing affordability to slightly decline despite mortgage rates hovering at lows not seen in over three years, according to the latest quarterly report by the National Association of Realtors®. The report also revealed that for the first time ever, a metro area – San Jose, California – had a median single-family home price above $1 million. ... Read More
  • 11:00 AM » Bank of England's offer to buy bonds Wednesday met with strong demand
    Published Wed, Aug 10 2016 11:00 AM by Market Watch
    The Bank of England said Wednesday it's offer to purchase U.K. government debt was met with strong demand, and that it reached its target of purchasing £1.17 billion ($1.53 billion) in bonds. The central bank purchased bonds with maturities of seven years to 15 years on Wednesday. The bank on Tuesday was only able to buy £1.12 billion in longer-dated bonds, or gilts, with analysts saying institutions such as pension funds and insurers were reluctant to sell such bonds because they need income to fulfill long-term liabilities. The yield on the 10-year gilt pared an earlier decline, and was down 1 basis point at 0.55%.
  • 9:33 AM » Watch Your Coastal Property. Here Comes the Sea
    Published Wed, Aug 10 2016 9:33 AM by Bloomberg
    Bloomberg Watch Your Coastal Property. Here Comes the Sea Bloomberg Climate scientists have long warned of a rise in sea level as global warming melts the world's glaciers. But while the level has been increasing at about 3.5 millimeters a year, the rate of increase itself has fluctuated, leading some people to doubt ... and more »
  • 9:33 AM » In recovering housing market, the starter home remains elusive
    Published Wed, Aug 10 2016 9:33 AM by Reuters
    NEW YORK/LOS ANGELES (Reuters) - Seeking a yard for her two dogs and proximity to her new government job, Alison Owen set out to buy a home this spring in the hot market of Austin, Texas.
  • 9:32 AM » Homeowners Have Real Estate Agents Over a Barrel
    Published Wed, Aug 10 2016 9:32 AM by Bloomberg
    Bloomberg Homeowners Have Real Estate Agents Over a Barrel Bloomberg You just sold your home for $400,000. Good going, nice job, congratulations. Kudos are also due to the real estate agents who helped you close the deal. If you live in a part of the country where the standard commission is 6 percent, you probably just ... and more »
  • 9:24 AM » "Scariest jobs chart ever"
    Published Wed, Aug 10 2016 9:24 AM by Calculated Risk Blog
    Wednesday: • At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index . • At 10:00 AM, Job Openings and Labor Turnover Survey for June from the BLS. Jobs openings decreased in May to 5.500 million from 5.845 million in April. The number of job openings were up 2% year-over-year, and Quits were up 5% year-over-year. During and following the 2007 recession, every month I posted a graph showing the percent jobs lost during the recession compared to previous post-WWII recessions. Some people started calling this the "scariest jobs chart ever".  In 2009 it was pretty scary! I retired the graph in May 2014 when employment finally exceeded the pre-recession peak. I keep getting asked if I could post an update to the graph, and here it is through the July 2016 report. This graph shows the job losses from the start of the employment recession, in percentage terms, compared to previous post WWII recessions.  Since exceeding the pre-recession peak in May 2014, employment is now 4.3% above the previous peak. Note: I ended the lines for most previous recessions when employment reached a new peak, although I continued the 2001 recession too on this graph.  The downturn at the end of the 2001 recession is the beginning of the 2007 recession.  I don't expect a downturn for employment any time soon (unlike in 2007 when I was forecasting a recession).
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 9:24 AM » Negative Yields Have Turned Bond Trading Into a Commodity Market
    Published Wed, Aug 10 2016 9:24 AM by Bloomberg
    Bloomberg Negative Yields Have Turned Bond Trading Into a Commodity Market Bloomberg Negative yields have so contorted the global bond market that it's starting to look like a trading venue for commodities, according to JPMorgan Chase & Co.'s asset-management division. The pile of debt yielding less-than zero is expanding as central ...
  • Tue, Aug 9 2016
  • 3:57 PM » Silicon Valley real estate shows who's winning in tech right now
    Published Tue, Aug 09 2016 3:57 PM by CNBC
    Despite a slowdown in tech startup funding and a hammering of public tech stocks earlier this year, Bay Area commercial real estate is as hot as ever.
  • 3:57 PM » Fed to host conference on financial innovation
    Published Tue, Aug 09 2016 3:57 PM by www.cfpbmonitor.com
    Barbara S. Mishkin While the CFPB has indicated it will be monitoring FinTech innovations, it has not yet held a public event devoted to FinTech or financial innovation. Both the FTC and OCC have already held such events this year and now the Federal Reserve’s Board of Governors has announced that it will be hosting a research and... More >
    Click Here to Read the Full Article

    Source: www.cfpbmonitor.com
  • 3:56 PM » BOE Can't Find Enough Sellers as QE Operation Falls Short
    Published Tue, Aug 09 2016 3:56 PM by Bloomberg
    Bloomberg BOE Can't Find Enough Sellers as QE Operation Falls Short Bloomberg U.K. government bonds surged as the second day of purchases of the Bank of England's expanded quantitative-easing program saw it fail to buy enough gilts to reach its stated goal. The yield on 10- and 30-year bonds fell to records as the central bank ... and more »
  • 3:54 PM » Las Vegas Real Estate in July: Sales down 10% YoY, Inventory down 1%
    Published Tue, Aug 09 2016 3:54 PM by Calculated Risk Blog
    This is a key distressed market to follow since Las Vegas has seen the largest price decline of any of the Case-Shiller composite 20 cities. The Greater Las Vegas Association of Realtors reported Southern Nevada Home Prices Keep Climbing Amid Tight Supply, GLVAR Housing Statistics for July 2016 "The local housing market is having a pretty solid summer so far," said 2016 GLVAR President Scott Beaudry, a longtime local REALTOR®. "Home prices have been going up gradually. And although we sold fewer homes and condos in July than we did during the previous month and year, sales have been running ahead of last year's pace. Our tight inventory might finally be slowing down our sales pace. Sales slipped the most during July for lower-priced homes. This suggests it's getting harder for entry-level buyers to find the homes they want." According to GLVAR, the total number of existing local homes, condominiums and townhomes sold in July was 3,447, down from 3,815 total sales in July of 2015 . Compared to the same month one year ago, 7.2 percent fewer homes, and 4.2 percent fewer condos and townhomes sold in July. ... By the end of July, GLVAR reported 7,338 single-family homes listed without any sort of offer. That's down 1.3 percent from one year ago . For condos and townhomes, the 1,212 properties listed without offers in July represented a 48.0 percent decrease from one year ago. ... As in past months, GLVAR continued to track declines in distressed sales and a corresponding increase in traditional home sales, where lenders are not controlling the transaction. In July, 5.7 percent of all local sales were short sales - when lenders allow borrowers to sell a home for less than what they owe on the mortgage. That's down from 7.1 percent of all sales one year ago. Another 5.9 percent of all July sales were bank-owned, down from 7.7 percent one year ago. emphasis added 1) Overall sales were down 9.6% year-over-year. 2) Active inventory is down...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 1:29 PM » Companies defy logic with record bond issuance and tighter spreads: What gives?
    Published Tue, Aug 09 2016 1:29 PM by Market Watch
    Companies have sold $70 billion of debt in the first six days of August, a typically sleepy month for issuance.
  • 11:46 AM » US household debt rises to $12T in Q2: NY Fed survey
    Published Tue, Aug 09 2016 11:46 AM by CNBC
    U.S. household debt hit $12.29 trillion in the second quarter, up $434 billion from a year earlier as auto loans and credit card debt increased.
  • 10:04 AM » Wholesale inventories rise in June
    Published Tue, Aug 09 2016 10:04 AM by CNBC
    U.S. wholesale inventories unexpectedly rose in June on gains in stocks of farm products and other nondurable goods.
  • 10:04 AM » A Deep Dive Into Bonds and the Global Yield Grab
    Published Tue, Aug 09 2016 10:04 AM by Bloomberg
    Bloomberg A Deep Dive Into Bonds and the Global Yield Grab Bloomberg George Goncalves, head of U.S. rates strategy at Nomura Securities, explains the path his firm sees to a zero yield on the 30-Year Treasury and discusses at hedging strategies in bonds, where we are in the credit cycle, and exercising caution in bond ...
  • 10:02 AM » Equifax: First mortgage defaults at lowest level since January 2007
    Published Tue, Aug 09 2016 10:02 AM by PR Newswire
    ATLANTA, Aug. 9, 2016 /PRNewswire/ -- Equifax Inc. (NYSE: EFX), a global information solutions provider, today announced the release of its June 2016 Equifax National Consumer Credit Trends Report. The monthly report, analyzing data from over 220 million consumers, found the first...
  • 8:42 AM » Fannie home purchase sentiment index hits new high
    Published Tue, Aug 09 2016 8:42 AM by NAFCU
    Fannie Mae's Home Purchase Sentiment Index reached a new high of 86.5 percent in July, which NAFCU Chief Economist and Director of Research Curt Long says shows how housing demand continues to expand.
  • 8:41 AM » U.S. Bond Retreat Confounds Analysts as Fed Rate Bets Revive
    Published Tue, Aug 09 2016 8:41 AM by Bloomberg
    Bloomberg U.S. Bond Retreat Confounds Analysts as Fed Rate Bets Revive Bloomberg Analysts who spent the past year chasing the rally in Treasuries are now getting caught out by the retreat. The yield on benchmark 10-year U.S. sovereign debt is above the median of year-end estimates compiled by Bloomberg for the first time, after ...
  • 8:41 AM » Three Reasons Why Baby Boomer Homeowners are a Market to Watch
    Published Tue, Aug 09 2016 8:41 AM by Freddie Mac
    By EVP, Single-Family Business Dave Lowman When you picture someone who is 55+, it's time to update your thinking because the second-largest generation in history is your next business opportunity. At 67 million strong, the influence of 55+ homeowners will be significant. Read More
  • 8:41 AM » US productivity unexpectedly drops for third straight quarter
    Published Tue, Aug 09 2016 8:41 AM by CNBC
    Productivity fell, which could raise concerns about corporate profits and companies' ability to maintain their robust hiring pace.
  • Mon, Aug 8 2016
  • 3:24 PM » Threat of Lawsuits Crimps Condo Developments
    Published Mon, Aug 08 2016 3:24 PM by www.realtor.com
    Exposure to liability for potential construction defects weighs on entry-level housing in Denver. The post Threat of Lawsuits Crimps Condo Developments appeared first on Real Estate News and Advice - realtor.com .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 11:28 AM » Phoenix Real Estate in July: Sales down 2%, Inventory up 3% YoY
    Published Mon, Aug 08 2016 11:28 AM by Calculated Risk Blog
    This is a key housing market to follow since Phoenix saw a large bubble / bust followed by strong investor buying. Inventory was up 3.3% year-over-year in July.  This is the fifth consecutive months with a YoY increase in inventory, following fifteen consecutive months of YoY declines in Phoenix.  This could be a significant change. The Arizona Regional Multiple Listing Service (ARMLS) reports (table below): 1) Overall sales in June were down 1.8% year-over-year. 2) Cash Sales (frequently investors) were down to 19.7% of total sales. 3) Active inventory is now up 3.3% year-over-year.   More inventory (a theme in 2014) - and less investor buying - suggested price increases would slow sharply in 2014.  And prices increases did slow in 2014, only increasing 2.4% according to Case-Shiller. In 2015, with falling inventory, prices increased a little faster -  Prices were up 6.3% in 2015 according to Case-Shiller. Now inventory is increasing a little again, and - if this trend continues in Phoenix - price increases will probably slow in Phoenix.    Prices in Phoenix are up 1.5% through May (about a 3.6% annual rate) - slower than in 2015. July Residential Sales and Inventory, Greater Phoenix Area, ARMLS   Sales YoY Change Sales Cash Sales Percent Cash Active Inventory YoY Change Inventory Jul-08 5,974 1 --- --- --- 54,527 2 --- Jul-09 9,095 52.2% 3,269 35.9% 38,024 --- 2 Jul-10 7,101 -21.9% 2,901 40.9% 42,887 12.8% Jul-11 8,397 18.3% 3,779 45.0% 27,663 -35.5% Jul-12 7,152 -14.8% 3,214 44.9% 20,384 -26.3% Jul-13 8,214 14.8% 2,944 35.8% 20,049 -1.6% Jul-14 6,790 -17.3% 1,681 24.8% 27,081 35.1% Jul-15 7,915 16.6% 1,731 21.9% 22,940 -15.3% Jul-16 7,775 -1.8% 1,534 19.7% 23,695 3.3% 1 July 2008 does not include manufactured homes, ~100 more 2 July 2008 Inventory includes pending
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 9:57 AM » Bernanke: The Fed's shifting perspective on the economy and its implications for monetary policy
    Published Mon, Aug 08 2016 9:57 AM by webfeeds.brookings.edu
    The headline on a recent piece by Ylan Mui of the Washington Post-"Why the Fed is rethinking everything"-captured the current moment well. The Federal Reserve has indeed been revising its views on some key aspects of the economy, and that's been affecting its outlook both for the economy and for monetary policy. In this post […]                
    Click Here to Read the Full Article

    Source: webfeeds.brookings.edu
  • 9:55 AM » New Single-Family Home Foundation Types in 2015
    Published Mon, Aug 08 2016 9:55 AM by eyeonhousing.org
    NAHB analysis of the Survey of Construction (SOC) shows that 57% of all new single-family homes started in 2015 were built on slab foundations, 27% had a full/partial basement, and 14% had a crawl space. The remaining 2% included raised supports, earthen, and other foundation types. The share of new single-family homes built on slabs steadily increased from 46% in... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 8:43 AM » Bond Market's Big Illusion Revealed as U.S. Yields Turn Negative - Bloomberg
    Published Mon, Aug 08 2016 8:43 AM by Bloomberg
    Bloomberg Bond Market's Big Illusion Revealed as U.S. Yields Turn Negative Bloomberg For Kaoru Sekiai, getting steady returns for his pension clients in Japan used to be simple: buy U.S. Treasuries. Compared with his low-risk options at home, like Japanese government bonds, Treasuries have long offered the highest yields around. And ... and more »
  • 8:42 AM » The next big fight over housing could happen, literally, in your back yard
    Published Mon, Aug 08 2016 8:42 AM by Washington Post
    The next big fight over housing could happen, literally, in your back yard<br/>https://www.washingtonpost.com/news/wonk/wp/2016/08/07/why-building-a-home-on-your-own-land-has-become-so-controversial/
    Click Here to Read the Full Article

    Source: Washington Post
  • Fri, Aug 5 2016
  • 12:55 PM » CFPB Issues Final Rule Amending Mortgage Servicing Regulations
    Published Fri, Aug 05 2016 12:55 PM by www.cfpbmonitor.com
    Reid F. Herlihy The CFPB issued its final rule amending the mortgage servicing rules under Regulations X and Z. The proposal for these amendments was issued in November 2014. The amended provisions cover a wide range of topics, including the following: Tailored periodic statements and early intervention notices for borrowers in bankruptcy; Additional procedures for communicating with, and... More >
    Click Here to Read the Full Article

    Source: www.cfpbmonitor.com
  • 11:17 AM » The big jobs number is a win for luxury housing
    Published Fri, Aug 05 2016 11:17 AM by CNBC
    A larger-than-expected employment gain in July could boost the recovery in prices for luxury U.S. homes.
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