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  • Wed, Aug 23 2017
  • 4:29 PM » Dow drops nearly 90 points after Trump threatens government shutdown
    Published Wed, Aug 23 2017 4:29 PM by CNBC
    U.S. stocks fell after Trump said he would let the government shut down without appropriations for a border wall.
  • 4:29 PM » Dow logs longest streak without a gain of at least 1% in 10 1/2 years
    Published Wed, Aug 23 2017 4:29 PM by Market Watch
    The Dow Jones Industrial Average on Wednesday marked its longest streak without a gain of at least 1% in more than a decade, according to WSJ Market Data Group. The Dow hasn't posted a rise of at least 1% since April 25, when it rallied 232 points or 1.1%. Its failure to do so on Wednesday, marks the 84th trading day without such an advance, the longest since an 102-session streak ended March 2007. The Dow narrowly missed a 1% gain in Tuesday's nearly 200-point rally--its best one-day gain in four months. Overall, Wall Street stocks ended lower as investors fretted that comments made by President Donald Trump at a rally of supporters late Tuesday in Phoenix suggest that he is willing to let a looming government shutdown happen in autumn. The Dow closed off 0.4% at 21,812, the S&P 500 index was off 0.4% at 2,444, while the Nasdaq Composite Index closed off 0.3% at 6,278. --Ken Jimenez contributed to this report
  • 3:22 PM » Robert Shiller: Changes to popular deduction wouldn't have big effect on housing market
    Published Wed, Aug 23 2017 3:22 PM by CNBC
    What's driving real estate "is our sense of where we're going and the uncertainty" with the new administration, Robert Shiller said.
  • 3:22 PM » A few Comments on July New Home Sales
    Published Wed, Aug 23 2017 3:22 PM by Calculated Risk Blog
    New home sales for July were reported at 571,000 on a seasonally adjusted annual rate basis (SAAR). This was well below the consensus forecast, however the three previous months were revised up sharply .  Overall this was decent report. Sales were down 8.9% year-over-year in July. Earlier: New Home Sales decrease to 571,000 Annual Rate in July . Click on graph for larger image. This graph shows new home sales for 2016 and 2017 by month (Seasonally Adjusted Annual Rate).  Sales were down 8.9% year-over-year in July. Note that sales in July 2016 were strong, so this was a difficult year-over-year comparison. For the first seven months of 2017, new home sales are up 9.2% compared to the same period in 2016. This was a strong year-over-year increase through July.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 3:22 PM » Lowe's Trails Home Depot in Remodeling Boom
    Published Wed, Aug 23 2017 3:22 PM by Bloomberg
    Bloomberg Lowe's Trails Home Depot in Remodeling Boom Bloomberg Lowe's Cos. has been benefiting from the multiyear rebound in remodeling, though not as much as bigger rival Home Depot Inc. Adjusted earnings were $1.57 a share last quarter, Mooresville, North Carolina-based Lowe's said Wednesday. Analysts ... and more »
  • 1:34 PM » FFIEC issues new HMDA resubmission guidelines
    Published Wed, Aug 23 2017 1:34 PM by
    As expected, the Federal Financial Institution Examination Council (FFIEC) member agencies issued new data resubmission guidelines under the Home Mortgage Disclosure Act (HMDA) effective for the 2018 data collection year. The change coincides with the substantial expansion of the HMDA data reporting fields that is effective January 1, 2018. When examining an institution's HMDA Loan... Continue Reading
    Click Here to Read the Full Article

  • 1:34 PM » Deciding what to do with an inherited house: Live in it, rent it or sell it
    Published Wed, Aug 23 2017 1:34 PM by CNBC
    The best choice may be to wait when dealing with a house left to you.
  • 1:34 PM » AIA: Architecture Billings Index "growth moderates" in July
    Published Wed, Aug 23 2017 1:34 PM by Calculated Risk Blog
    Note: This index is a leading indicator primarily for new Commercial Real Estate (CRE) investment. From the AIA: Architecture Billings Index growth moderates For the sixth consecutive month, architecture firms reported increasing demand for design services as reflected in the July Architecture Billings Index (ABI). As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lead time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the July ABI score was 51.9 , down from a score of 54.2 in the previous month. This score still reflects an increase in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 59.5, up from a reading of 58.6 the previous month, while the new design contracts index increased from 53.7 to 56.4. "The July figures show the continuation of healthy trends in the construction sector of our economy," said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. "In addition to the balanced increases in design billings across all major regions and construction sectors, the strong gains in new project work coming into architecture firms points to future growth in design and construction activity over coming quarters." ... • Regional averages: South (53.8), Midwest (53.8), Northeast (53.6), West (50.9) • Sector index breakdown: multi-family residential (55.8), commercial / industrial (55.4), institutional (52.0), mixed practice (48.4) emphasis added Click on graph for larger image. This graph shows the Architecture Billings Index since 1996. The index was at 51.9 in July, up from 54.2 the previous month. Anything above 50 indicates expansion in demand for architects' services. Note: This includes commercial and industrial facilities like hotels and office buildings, multi-family residential, as well as schools, hospitals and other institutions. According to the AIA, there is...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 11:13 AM » Home-builders ETF down after new-home sales data
    Published Wed, Aug 23 2017 11:13 AM by Market Watch
    Exchange-traded funds that track home-building stocks fell on Wednesday, after data showed that new-home sales fell 9.4% in July, a steeper fall than had been expected. The SPDR S&P Homebuilders ETF lost 0.9%, while the iShares U.S. Home Construction ETF was down 0.5%. The SPDR fund remains up more than 10% in 2017, although it has dropped 3.5% over the past month. Sales of newly constructed homes were at a seasonally adjusted annual rate of 571,000, the Commerce Department said Wednesday. That represented a seven-month low, and it was under the 608,000 pace that had been forecast. The sector was also pressured by Lowe's Companies Inc. , which fell 5.7% in the wake of lower-than-expected results. Home Depot fell 1.5%.
  • 10:15 AM » New home sales plunge 9.4% in July, falling to 7-month low
    Published Wed, Aug 23 2017 10:15 AM by CNBC
    The Commerce Department said on Wednesday new home sales tumbled to the lowest level since December 2016.
  • 9:16 AM » Is the Multifamily Built-for-Rent Market Share Falling?
    Published Wed, Aug 23 2017 9:16 AM by
    After reaching a share of 95% of all multifamily starts at the start of 2017, the market share of rental multifamily starts declined in the second quarter to 91%, according to NAHB analysis of Census data. In contrast, the historical low share of 47% was set during the third quarter of 2005, during the condo building boom. And an average... Read More ›
    Click Here to Read the Full Article

  • 8:38 AM » Brexit Bulletin: A Wiggly Red Line
    Published Wed, Aug 23 2017 8:38 AM by Bloomberg
    Bloomberg Brexit Bulletin: A Wiggly Red Line Bloomberg Almost a year ago, U.K. Prime Minister Theresa May pledged to make Britain a "fully sovereign and independent country" free of the jurisdiction of the European Union's highest court. In January she promised the U.K. would "take back control of our laws ... and more »
  • 8:35 AM » Lowe's second-quarter profit jumps 21.6 percent
    Published Wed, Aug 23 2017 8:35 AM by Reuters
    (Reuters) - Lowe's Companies Inc , the No. 2 U.S. home improvement retailer, reported a 21.6 percent rise in quarterly profit on Wednesday as an increase in remodeling activity boosted traffic to its stores.
  • 8:34 AM » Changing mortgage deduction would discourage homeownership: Toll Brothers CEO
    Published Wed, Aug 23 2017 8:34 AM by CNBC
    Making changes to the popular mortgage interest rate deduction would be "very bad policy," Toll Brothers CEO Doug Yearley told CNBC on Tuesday.
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