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  • Mon, Mar 18 2019
  • 4:17 PM » These are the best and worst cities for first-time home buyers
    Published Mon, Mar 18 2019 4:17 PM by CNBC
    If you're eyeing big-name cities for your first home, you might want to think again. Overlooked metro areas offer some of the biggest advantages - and less competition from other buyers.
  • 3:01 PM » Robots kill jobs. But they create jobs, too.
    Published Mon, Mar 18 2019 3:01 PM by webfeeds.brookings.edu
    Much of the current discussion on automation is of the "robots-killing-jobs" variety. This alarmism is unsurprising. After all, most research to this point has focused on the introduction of robots into manufacturing, or on computer algorithms that automate routine tasks. These are changes that have replaced, and will continue to replace, jobs that many workers,…                
    Click Here to Read the Full Article

    Source: webfeeds.brookings.edu
  • 3:01 PM » Still a chance Brexit deal can be approved by UK parliament this week: minister
    Published Mon, Mar 18 2019 3:01 PM by Reuters
    British junior Brexit minister Kwasi Kwarteng said on Monday he believed there was still a chance parliament would approve Prime Minister Theresa May's European Union exit deal this week.
  • 3:01 PM » Wall Street inches higher ahead of Fed policy meeting
    Published Mon, Mar 18 2019 3:01 PM by Reuters
    Wall Street edged higher on Monday as declines in Boeing and Facebook held gains in check and investors eyed this week's Federal Reserve meeting for affirmation of the central bank's commitment to "patient" monetary policy.
  • 1:08 PM » Top Challenges for Builders: Materials in 2018, Labor in 2019
    Published Mon, Mar 18 2019 1:08 PM by eyeonhousing.org
    Building material prices topped the list of problems builders faced in 2018, but cost and availability of labor is expected to return to the number one spot in 2019, according to special questions on the January survey for the NAHB/Wells Fargo Housing Market Index. The survey results showed that material prices were a significant issue for 87% of builders last... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 1:08 PM » The Fed may soon let inflation run a little hotter than usual, Goldman says
    Published Mon, Mar 18 2019 1:08 PM by CNBC
    Goldman Sachs says the Federal Reserve will decide to allow overshoots of its inflation goal next year.
  • 11:38 AM » Sacramento Housing in February: Sales Down 10% YoY, Active Inventory up 16% YoY
    Published Mon, Mar 18 2019 11:38 AM by Calculated Risk Blog
    From SacRealtor.org: February sees increase in sales volume, sales price The month closed with 1,015 total sales , a 13.5% increase from the 894 sales of January. Compared to the same month last year (1,131), the current figure is down 10.3% . ... The Active Listing Inventory decreased, falling 4.8% from 2,095 to 1,994 units. The Months of Inventory decreased 13% from 2.3 to 2 Months. [Note: Compared to February 2018, inventory is up 15.7% ] . ... The Average DOM (days on market) increased again, rising from 40 to 43. The Median DOM remained at 27. "Days on market" represents the days between the initial listing of the home as "active" and the day it goes "pending." emphasis added CR Note: Inventory is still low - months of inventory is at 2.0 months, probably closer to 4 months would be normal - and this is the smallest YoY increase since January 2018.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 11:16 AM » U.S. Treasuries Trade Like 1965 After Fed Kills Volatility
    Published Mon, Mar 18 2019 11:16 AM by Bloomberg
    U.S. Treasuries Trade Like 1965 After Fed Kills Volatility    Bloomberg No one wants to test the tightest trading range in decades, but they wish others would.
  • 8:59 AM » Fifth Circuit hears oral argument in All American Check Cashing
    Published Mon, Mar 18 2019 8:59 AM by www.consumerfinancemonitor.com
    On March 12, the U.S. Court of Appeals for the Fifth Circuit heard oral argument in All American Check Cashing's interlocutory appeal from the district court's ruling upholding the CFPB's constitutionality. All American Check Cashing and the other appellants sought the interlocutory appeal after the district court denied their motion for judgment on the pleadings... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 8:15 AM » Fintech Spirals Into the $34 Billion Stratosphere
    Published Mon, Mar 18 2019 8:15 AM by Bloomberg
    Fintech Spirals Into the $34 Billion Stratosphere    Bloomberg Fidelity National needs everything to go right for its Worldpay takeover to pay off.
  • 8:10 AM » Stop the Brexit Countdown and Think Again
    Published Mon, Mar 18 2019 8:10 AM by Bloomberg
    Stop the Brexit Countdown and Think Again    Bloomberg In a series of votes last week, the Britain's House of Commons decided to reject (again) Prime Minister Theresa May's Brexit agreement with the European Union ...
  • 8:05 AM » US Treasury yields move higher ahead of a Fed meeting
    Published Mon, Mar 18 2019 8:05 AM by CNBC
    U.S. government debt prices were lower on Monday, as investors awaited a Federal Reserve meeting later this week.
  • Fri, Mar 15 2019
  • 4:40 PM » Construction Job Openings Hold Steady In January
    Published Fri, Mar 15 2019 4:40 PM by eyeonhousing.org
    After significant data revisions for 2018, new data from the BLS Job Openings and Labor Turnover Survey (JOLTS) indicate that construction job openings remained near a cycle high as of January, an indication that the skilled labor shortage continues into 2019. The open position rate (job openings as a percentage of total employment plus current job openings) held steady at 3.9%. The... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 3:29 PM » FTC Cites Need for Improvement in Compliance Reports
    Published Fri, Mar 15 2019 3:29 PM by www.consumerfinancemonitor.com
    Less than a week after warning subpoena and CID recipients to take their obligation to respond "seriously," the FTC took aim at perceived inadequacies in compliance reports submitted pursuant to FTC consent orders and litigated judgments. In its March 11, 2019 blog post, the FTC's Bureau of Competition alleges that "some Respondents are not taking... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 1:50 PM » Fed to raise interest rates once more in third quarter, then done: Reuters poll
    Published Fri, Mar 15 2019 1:50 PM by Reuters
    The U.S. Federal Reserve will remain patient for a little longer than thought just last month, waiting until the third quarter before raising rates once more, and then stay on the sidelines, a Reuters poll of economists showed.
  • 1:40 PM » CFPB Seeks to Enforce CID against Debt Collection Law Firm
    Published Fri, Mar 15 2019 1:40 PM by www.consumerfinancemonitor.com
    The CFPB has filed a request in the District Court for the Southern District of New York to enforce a civil investigative demand (“CID”) against the Law Offices of Crystal Moroney, P.C. (“LOCM”), a debt collection law firm located in New City, New York, continuing under Director Kraninger the CFPB's pursuit of law firms despite... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 1:18 PM » Treasury Yields Draw Closer to 2019 Lows
    Published Fri, Mar 15 2019 1:18 PM by Bloomberg
    Treasury Yields Draw Closer to 2019 Lows    Bloomberg The benchmark Treasury yield on Friday gained momentum in its push toward its lows for the year, thanks to a string of weaker-than-expected U.S. ...
  • 1:00 PM » Q1 GDP Forecasts: Slightly Positive
    Published Fri, Mar 15 2019 1:00 PM by Calculated Risk Blog
    From Goldman Sachs: We lowered our Q1 GDP tracking estimate by two tenths to +0.4% . [March 15 estimate] emphasis added From the NY Fed Nowcasting Report The New York Fed Staff Nowcast stands at 1.4% for 2019:Q1 and 1.5% for 2019:Q2. [Mar 15 estimate]. And from the Altanta Fed: GDPNow The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2019 is 0.4 percent on March 13, up from 0.2 percent on March 11. [Mar 13 estimate] CR Note: These early estimates suggest GDP will be slightly positive in Q1.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 11:24 AM » U.S. job openings increase by 102,000 in January
    Published Fri, Mar 15 2019 11:24 AM by Reuters
    U.S. job openings in January increased in January, led by vacancies at wholesalers, real estate and information sectors, suggesting that a near-stall in hiring in February was probably in part because of a shortage of qualified workers.
  • 11:01 AM » Get ready to pay more rent, even as home prices cool off
    Published Fri, Mar 15 2019 11:01 AM by CNBC
    Home prices may be cooling off right now, but rents are heating up yet again. After taking a breather in 2018, due to new supply on the market, rents for both single-family homes and multifamily apartments are now rising at the fastest pace in nearly a year, according to Zillow. The median monthly rent in February came in at $1,472, an increase of 2.4 percent compared with February 2018. For the typical renter, this means about $400 more a year.
  • 10:33 AM » Elon Musk Turns to Morgan Stanley for Five Monster Mortgages
    Published Fri, Mar 15 2019 10:33 AM by Bloomberg
    When it comes to cars, tunnels and rockets, Elon Musk thinks big. The same's true for his household finances. The billionaire recently took out $61 million in mortgages on five properties in California, four in the Bel Air neighborhood of Los Angeles and one in Hillsborough, in the Bay Area. The Morgan Stanley loans, signed in the final days of 2018, represent about $50 million in new borrowing. One refinancing on a 20,200-plus square-foot property he bought in 2012 for $17 million turned a $10 million loan into a $19.5 million debt.
  • 10:02 AM » Industrial Production Increased 0.1% in February
    Published Fri, Mar 15 2019 10:02 AM by Calculated Risk Blog
    From the Fed: Industrial Production and Capacity Utilization Industrial production edged up 0.1 percent in February after decreasing 0.4 percent in January. Manufacturing production fell 0.4 percent in February for its second consecutive monthly decline. The index for utilities rose 3.7 percent, while the index for mining moved up 0.3 percent. At 109.7 percent of its 2012 average, total industrial production was 3.5 percent higher in February than it was a year earlier. Capacity utilization for the industrial sector edged down 0.1 percentage point in February to 78.2 percent , a rate that is 1.6 percentage points below its long-run (1972-2018) average. emphasis added Click on graph for larger image. This graph shows Capacity Utilization. This series is up 11.5 percentage points from the record low set in June 2009 (the series starts in 1967). Capacity utilization at 78.2% is 1.6% below the average from 1972 to 2017 and below the pre-recession level of 80.8% in December 2007. Note: y-axis doesn't start at zero to better show the change. The second graph shows industrial production since 1967. Industrial production increased in February to 109.7. This is 26% above the recession low, and 4.1% above the pre-recession peak. The increase in industrial production and decrease in capacity utilization were below consensus.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 9:40 AM » North Carolina Leads Job Gains in January
    Published Fri, Mar 15 2019 9:40 AM by eyeonhousing.org
    On an annual basis, total nonfarm employment in January increased by 2.8 million jobs, which is a 1.9% increase compared to January 2018. During this time, total nonfarm employment in the Western region increased by 1.9% and in the Southern region by 1.8%. The Midwest and the Northeast recorded the lowest gains at 1.0% during this time. According to the... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 9:21 AM » NY Fed: Manufacturing "Business activity grew only slightly in New York State"
    Published Fri, Mar 15 2019 9:21 AM by Calculated Risk Blog
    From the NY Fed: Empire State Manufacturing Survey Manufacturing firms in New York State reported that business activity expanded only slightly. The general business conditions index fell five points to 3.7 , its third consecutive monthly reading below 10, suggesting that growth has remained quite a bit slower so far this year than it was for most of 2018 . The index for number of employees climbed ten points to 13.8 , pointing to an increase in employment levels, though the average workweek index turned negative for the first time since 2016. emphasis added This was below the consensus forecast.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:28 AM » Theresa May Might Have Outmaneuvered All Her Brexit Critics
    Published Fri, Mar 15 2019 8:28 AM by Bloomberg
    Theresa May Might Have Outmaneuvered All Her Brexit Critics    Bloomberg In the end, timing is everything: EU elections this spring play into the prime minister's plans.
  • 8:15 AM » Poor Credit Scores Hindering Home Ownership in Georgia
    Published Fri, Mar 15 2019 8:15 AM by www.builderonline.com
    Poor Credit Scores Hindering Home Ownership in Georgia
    Click Here to Read the Full Article

    Source: www.builderonline.com
  • 7:59 AM » As Fed's QE Era Ends, a New Trillion-Dollar Bond Dilemma Emerges
    Published Fri, Mar 15 2019 7:59 AM by Bloomberg
    As Fed's QE Era Ends, a New Trillion-Dollar Bond Dilemma Emerges    Bloomberg More than a decade after it all began, the Federal Reserve is finally nearing the end of its grand experiment in monetary policy.
  • Thu, Mar 14 2019
  • 4:37 PM » Wall Street near flat as trade deal outlook uncertain
    Published Thu, Mar 14 2019 4:37 PM by Reuters
    U.S. stocks were little changed in late afternoon trading on Thursday amid uncertainty over when a trade deal between the United States and China would be reached.
  • 2:29 PM » UK lawmakers vote in favor of delaying Brexit departure date
    Published Thu, Mar 14 2019 2:29 PM by CNBC
    U.K. lawmakers have voted in favor of seeking a delayed departure from the EU, marking another step in a political crisis that has ripped through the heart of Westminster.
  • 1:25 PM » For homebuilders, 'the next few months are big'
    Published Thu, Mar 14 2019 1:25 PM by CNBC
    Builders claim they're feeling better about their business, but the sales numbers are still not reflecting that. So all eyes are on the spring market, which could determine the fate of both the stocks and the earnings of the biggest builders.
  • 1:25 PM » Built-for-Rent Construction Dominates Apartment Development
    Published Thu, Mar 14 2019 1:25 PM by eyeonhousing.org
    An elevated rental share of multifamily construction is holding typical apartment size below levels seen during the pre-Great Recession period. As multifamily developers build more for-sale housing units in the years ahead, the average size of multifamily homes is likely to rise. According to fourth quarter 2018 data, the average per unit square footage of multifamily housing construction starts was 1,136, off from the... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 1:24 PM » New Home Sales Distribution Highlights Affordability Opportunity
    Published Thu, Mar 14 2019 1:24 PM by eyeonhousing.org
    Upward revisions to December and November data resulted in a 6.9% decline for new single-family homes sales in January, according to data from the joint release of HUD and the Census Bureau. The seasonally adjusted annualized January pace of 607,000 was 4.1% lower than January of 2018; however, combined with lower mortgage interest rates, the first monthly rate for 2019 establishes a solid... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 11:44 AM » Treasury's Mnuchin expects elements of China trade talks to be resolved soon
    Published Thu, Mar 14 2019 11:44 AM by Reuters
    The Trump administration is discussing a thick tome of ideas with Chinese officials as the two sides seek a trade deal, with Washington expecting some elements to be resolved soon, U.S. Treasury Secretary Steven Mnuchin said on Thursday.
  • 11:32 AM » The Best Week of the Year to Put Your House on the Market Is…
    Published Thu, Mar 14 2019 11:32 AM by www.realtor.com
    Sellers angling to unload their homes fast-and for a boatload of cash-may want to list their properties during this week. The post The Best Week of the Year to Put Your House on the Market Is… appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 10:20 AM » Theresa May intends to bring her twice-rejected Brexit deal back to Parliament
    Published Thu, Mar 14 2019 10:20 AM by CNBC
    U.K. Prime Minister Theresa May hopes it will be a case of third time lucky next week, when the embattled Conservative Party leader brings her Brexit deal to Parliament yet again.
  • 9:50 AM » These 10 cities could lose $34 billion-plus in housing to coastal floods by 2050
    Published Thu, Mar 14 2019 9:50 AM by CNBC
    Within three decades more than 386,000 homes in coastal areas of the U.S. will be at risk of permanent submersion or regular flooding due to climate change, according to a recent study by real estate website Zillow and nonprofit weather news site Climate Central. Here are the 10 cities predicted to be worst affected.
  • 8:47 AM » Weekly Initial Unemployment Claims increased to 229,000
    Published Thu, Mar 14 2019 8:47 AM by Calculated Risk Blog
    The DOL reported : In the week ending March 9, the advance figure for seasonally adjusted initial claims was 229,000, an increase of 6,000 from the previous week's unrevised level of 223,000. The 4-week moving average was 223,750, a decrease of 2,500 from the previous week's unrevised average of 226,250. emphasis added The previous week was unrevised. The following graph shows the 4-week moving average of weekly claims since 1971. Click on graph for larger image. The dashed line on the graph is the current 4-week average. The four-week average of weekly unemployment claims decreased to 223,750. This was slightly above to the consensus forecast.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:16 AM » ECB Near End of Road Seeks Government Backup to Support Economy
    Published Thu, Mar 14 2019 8:16 AM by Bloomberg
    ECB Near End of Road Seeks Government Backup to Support Economy    Bloomberg The European Central Bank's latest round of stimulus is being accompanied by renewed calls on governments to step up their game in nurturing the economy.
  • 8:02 AM » Home Prices Up 0.6% in February—Smallest Year-Over-Year Gain Since March 2012
    Published Thu, Mar 14 2019 8:02 AM by www.redfin.com
    Prices fell more than 8 percent in San Francisco and San Jose, up over 10 percent in Newark, Milwaukee and Buffalo. U.S. home-sale prices increased just 0.6 percent in February compared to a year ago, to a median of $287,400 across the metros Redfin tracks. This is the smallest year-over-year price increase recorded since prices […] The post Home Prices Up 0.6% in February-Smallest Year-Over-Year Gain Since March 2012 appeared first on Redfin Real-Time .
    Click Here to Read the Full Article

    Source: www.redfin.com
  • Wed, Mar 13 2019
  • 3:23 PM » Houston Real Estate in February: Sales up Slightly YoY, Inventory Up 17%
    Published Wed, Mar 13 2019 3:23 PM by Calculated Risk Blog
    From the HAR: Houston Home Rentals Soar in February While Sales Recover After a generally mixed performance in January, the Houston housing market showed considerably more vitality in February, particularly among rental properties. Unlike January, which brought declining sales across all pricing segments, sales last month rose among homes priced between $150,000 and $750,000, with the high end of that range performing best. Inventory continued to grow, generating an improved supply of homes for consumers as the spring buying season gets underway. According to the newest monthly report from the Houston Association of Realtors® (HAR), sales of single-family homes were statistically flat in February, with 5,280 homes sold compared to 5,265 a year earlier, marking the end of three straight months of declines. ... Sales of all property types totaled 6,388, also statistically flat when compared to last February's tally of 6,368 . Total dollar volume for the month rose 3.1 percent to $1.76 billion. "The Houston real estate market seems to be emerging from the winter doldrums with improvement in sales volume and an exceptionally strong performance among rental properties in February," said HAR Chair Shannon Cobb Evans with Heritage Texas Properties. "This suggests that many consumers are opting to rent until they find the right home at the right price at the right interest rate to buy." ... Total active listings, or the total number of available properties, jumped 17.4 percent to 39,304 . Single-family homes months of inventory was at a 3.7-months supply, up from 3.1 months last February, but slightly below the national inventory level of 3.9 months ... emphasis added
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
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