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  • Thu, Jan 11 2018
  • 9:57 AM » Why this homeowner will accept bitcoin for his $45 million mansion
    Published Thu, Jan 11 2018 9:57 AM by CNBC
    Cryptocurrencies have brought more potential buyers to the luxury home market.
  • 8:46 AM » US producer prices fall for first time in nearly 1-½ years
    Published Thu, Jan 11 2018 8:46 AM by CNBC
    The U.S. Producer Price Index slipped 0.1 percent in December, after a 0.4 percent increase a month earlier.
  • 8:46 AM » US jobless claims increase for fourth straight week
    Published Thu, Jan 11 2018 8:46 AM by CNBC
    First-time claims for state unemployment benefits were expected to total 248,000 for the most recent week.
  • 8:23 AM » China says diversifying FX reserves, warns report on US bonds may be 'fake'
    Published Thu, Jan 11 2018 8:23 AM by Reuters
    BEIJING, Jan 11 (Reuters) - China is diversifying its foreign exchange reserves in order to safeguard their value, the country's currency regulator said on Thursday, while dismissing a media report the government is halting or reducing its purchases of U.S. debt.
  • 8:22 AM » China shunning US debt is ‘not relevant' and will not happen, economist says
    Published Thu, Jan 11 2018 8:22 AM by CNBC
    Global investors should not be concerned by a report that China is looking to curb its purchases of U.S. bonds, one economist told CNBC.
  • 8:21 AM » Why falling bond prices are traditionally seen as bad for stocks
    Published Thu, Jan 11 2018 8:21 AM by CNBC
    A sharp sell-off in bond markets this week spilled over into global equities with jitters that a near 30-year run bull run for fixed income could be coming to an end.
  • Wed, Jan 10 2018
  • 4:05 PM » Kansas City Fed on Housing: "Pent-Up Demand and Continuing Price Increases"
    Published Wed, Jan 10 2018 4:05 PM by Calculated Risk Blog
    From Jordan Rappaport, Senior Economist at the Kansas City Fed: Pent-Up Demand and Continuing Price Increases: The Outlook for Housing in 2018 An excerpt on inventory: The low rate of residential construction has been contributing to the tight supply of existing homes listed for sale. New construction provides liquidity to local housing markets, where households are often both buyers and sellers. With fewer new homes from which to choose, many homeowners considering upgrading have instead chosen to remain in their current homes and so have not listed them for sale. As a result, the number of existing homes for sale has decreased as well, dissuading other homeowners from upgrading and further dampening sales listings. This "vicious circle" has limited the efficacy of rising sales prices in eliciting more listings. Since early 2015, the number of single-family homes listed for sale has steadily declined (Chart 2, blue line). Correspondingly, the ratio of listed homes to monthly sales, also known as "months supply," fell to 3.8 in November, its lowest value since 1982, the earliest date for which data are available (green line). Click on graph for larger image. Limited new construction and sales listings of low-end single-family homes have similarly dissuaded many younger households from leaving their apartments to purchase homes, thereby depressing the number of vacant apartments available for potential new households. There is much more in the Fed article. CR Note: Two of the key reasons inventory is low: 1) A large number of single family home and condos were converted to rental units. In 2015, housing economist Tom Lawler estimated there were 17.5 million renter occupied single family homes in the U.S., up from 10.7 million in 2000. Many of these houses were purchased by investors, and rents have increased substantially, and the investors are not selling (even though prices have increased too). Most of these rental conversions were at the lower end...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 4:04 PM » The Fed Delivered $80.2 Billion in Profits to the Treasury in 2017
    Published Wed, Jan 10 2018 4:04 PM by www.nytimes.com
    Though last year's contribution - made from revenue on its portfolio of bond holdings - declined from 2016, it was well above the average in years before the financial crisis.
    Click Here to Read the Full Article

    Source: www.nytimes.com
  • 3:27 PM » Bond Traders Question the Bear Market - Bloomberg
    Published Wed, Jan 10 2018 3:27 PM by Bloomberg
    Bloomberg Bond Traders Question the Bear Market Bloomberg Ten-year U.S. yields flirted with the highest levels since 2014 Wednesday as longtime pillars of support for the world's biggest bond market showed signs of eroding, raising the specter of even deeper losses. Global central banks are gradually pulling ... and more »
  • 3:27 PM » China may be mulling Treasuries slowdown, but options limited
    Published Wed, Jan 10 2018 3:27 PM by Reuters
    LONDON/WASHINGTON (Reuters) - Chinese officials reviewing the country's vast foreign exchange holdings have recommended slowing or halting purchases of U.S. Treasury bonds amid a less attractive market for them and rising U.S.-China trade tensions, Bloomberg News reported on Wednesday. The report sent U.S. Treasury yields to 10-month highs and sent the dollar lower. Economists cautioned, however, that China would not be able to make large changes to the composition of its reserves as it needs them to manage its renminbi exchange rate.
  • 3:26 PM » Realtors, Licking Their Wounds, Get Ready for Their Next Battle
    Published Wed, Jan 10 2018 3:26 PM by www.realtor.com
    NAR'S influence in Washington faces test as the federal government's role in backing mortgages comes up for debate. The post Realtors, Licking Their Wounds, Get Ready for Their Next Battle appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 2:03 PM » Report Chinese could stop Treasury buying seen as political but hits raw nerve
    Published Wed, Jan 10 2018 2:03 PM by CNBC
    A reported threat by China to stop or slow U.S. Treasury buying is being taken seriously and is seen as political by the bond market.
  • 2:03 PM » 3 ways tax reform will hit home values
    Published Wed, Jan 10 2018 2:03 PM by CNN
    The recent surge in home values could slow thanks to the freshly passed tax overhaul.
  • 2:02 PM » Pimco could add U.S. Treasuries if market weakens further: Ivascyn
    Published Wed, Jan 10 2018 2:02 PM by Reuters
    NEW YORK (Reuters) - Pimco, one of the world's biggest money managers, sees this week's U.S. bond market selloff as a buying opportunity and is not ready to call the spike in 10-year Treasury yield to a nine-month high a bear market precursor.
  • 12:21 PM » Home equity hits record high, and here's how homeowners are spending it
    Published Wed, Jan 10 2018 12:21 PM by CNBC
    Homeowners are increasingly taking out cash to make more cash.
  • 12:13 PM » The Fed, worrying about the next recession, considers changes
    Published Wed, Jan 10 2018 12:13 PM by CNBC
    More and more, Fed officials are beginning to think seriously about a dramatic change to monetary policy.
  • 11:22 AM » Minneapolis Fed proposes massive regulation change for big banks
    Published Wed, Jan 10 2018 11:22 AM by CNBC
    The Minneapolis Fed proposed a set of sweeping new regulations aimed at reducing the risk big banks pose to the economy.
  • 11:16 AM » Federal Reserve Board announces Reserve Bank income and expense data and transfers to the Treasury for 2017
    Published Wed, Jan 10 2018 11:16 AM by Federal Reserve
    Federal Reserve Board announces Reserve Bank income and expense data and transfers to the Treasury for 2017
    Click Here to Read the Full Article

    Source: Federal Reserve
  • 11:00 AM » Tax cuts mean Fed must be vigilant on 'overheating': Kaplan
    Published Wed, Jan 10 2018 11:00 AM by Reuters
    DALLAS (Reuters) - The Federal Reserve must be wary of the "risk of overheating" the economy in the wake of sweeping tax cuts that could raise already unsustainable debt levels even while they boost business investment, Dallas Fed President Robert Kaplan said on Wednesday.
  • 10:10 AM » Wholesale inventories rebound strongly in November
    Published Wed, Jan 10 2018 10:10 AM by CNBC
    The Commerce Department was expected to report a rise in November wholesale inventories on Wednesday.
  • 9:43 AM » Apartment and Condominium Absorption Increased in Q2 2017
    Published Wed, Jan 10 2018 9:43 AM by eyeonhousing.org
    The Census Bureau, in collaboration with the Department of Housing and Urban Development (HUD), produces the Survey of Market Absorption (SOMA), which tracks apartment and condominium completions, absorption rates (the share of apartments/condos rented or purchased within the first 3 months after completion), and asking rent prices. In the second quarter of 2017, completions of unfurnished, unsubsidized, privately financed apartments... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 8:21 AM » Lennar revenue beats on higher home sales as orders rise
    Published Wed, Jan 10 2018 8:21 AM by CNBC
    Homebuilder Lennar on Wednesday reported higher-than-expected quarterly revenue as it sold more homes at higher prices, and said orders rose 11.5 percent.
  • 8:14 AM » Traders Remind Central Banks to Take Care on Route to Exit Door
    Published Wed, Jan 10 2018 8:14 AM by Bloomberg
    Bloomberg Traders Remind Central Banks to Take Care on Route to Exit Door Bloomberg The ECB must revise its language as the hawks get "bolder," says Gilles Moec of Bank of America Merrill Lynch. Global central banks are being served a sharp reminder by investors that their monetary policy planning carries the potential to roil ... and more »
  • 8:14 AM » Bond yields hit multi-month highs on report China may slow U.S. bond purchases
    Published Wed, Jan 10 2018 8:14 AM by Reuters
    LONDON (Reuters) - Major government bond yields hit multi-month highs on Wednesday, extending earlier gains on a report that Chinese officials have recommended slowing or halting purchases of U.S. government bonds.
  • Tue, Jan 9 2018
  • 4:52 PM » How to know whether your business qualifies for that 20 percent tax break
    Published Tue, Jan 09 2018 4:52 PM by CNBC
    That 20 percent tax deduction sounds good. Here's how to determine whether your business qualifies.
  • 4:50 PM » U.S. crude hits three-year high as oil prices climb on tighter market
    Published Tue, Jan 09 2018 4:50 PM by Reuters
    NEW YORK (Reuters) - Oil prices edged higher on Tuesday, with U.S. crude touching its highest since December 2014, supported by OPEC-led production cuts and expectations that U.S. crude inventories have dropped for an eighth week.
  • 4:42 PM » Tesla says solar roof production has started in Buffalo
    Published Tue, Jan 09 2018 4:42 PM by CNBC
    Tesla started taking orders for the solar roof tiles in May by asking homeowners to put down a $1,000 deposit via its web site.
  • 3:23 PM » Trump says he'll sign DACA deal, pursue comprehensive immigration reform
    Published Tue, Jan 09 2018 3:23 PM by CNBC
    "I'll take the heat" if voters in both parties object to comprehensive immigration reform, said the president.
  • 3:20 PM » Fed: Q3 2017 Household Debt Service Ratio Very Low, Starting to Increase
    Published Tue, Jan 09 2018 3:20 PM by Calculated Risk Blog
    The Fed's Household Debt Service ratio through Q3 2017 was released on today: Household Debt Service and Financial Obligations Ratios . I used to track this quarterly back in 2005 and 2006 to point out that households were taking on excessive financial obligations. These ratios show the percent of disposable personal income (DPI) dedicated to debt service (DSR) and financial obligations (FOR) for households. Note: The Fed changed the release in Q3 2013. The household Debt Service Ratio (DSR) is the ratio of total required household debt payments to total disposable income. The DSR is divided into two parts. The Mortgage DSR is total quarterly required mortgage payments divided by total quarterly disposable personal income. The Consumer DSR is total quarterly scheduled consumer debt payments divided by total quarterly disposable personal income. The Mortgage DSR and the Consumer DSR sum to the DSR. This data has limited value in terms of absolute numbers, but is useful in looking at trends. Here is a discussion from the Fed: The limitations of current sources of data make the calculation of the ratio especially difficult. The ideal data set for such a calculation would have the required payments on every loan held by every household in the United States. Such a data set is not available, and thus the calculated series is only an approximation of the debt service ratio faced by households. Nonetheless, this approximation is useful to the extent that, by using the same method and data series over time, it generates a time series that captures the important changes in the household debt service burden. Click on graph for larger image. The graph shows the Total Debt Service Ratio (DSR), and the DSR for mortgages (blue) and consumer debt (yellow). The overall Debt Service Ratio increased in Q3, and has been moving up slowly from the recent record low.  Note: The financial obligation ratio (FOR) also increased in Q3. The DSR for mortgages (blue) are near...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 3:20 PM » Want to Buy a New Home This Year? Check Out the 2018 New Construction Forecast
    Published Tue, Jan 09 2018 3:20 PM by www.realtor.com
    Builders are expected to put up more new construction in the year ahead-but the rate of building is likely to slow, say housing economists. The post Want to Buy a New Home This Year? Check Out the 2018 New Construction Forecast appeared first on Real Estate News & Insights | realtor.com® .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 2:03 PM » Microsoft says security patches slowing down PCs, servers
    Published Tue, Jan 09 2018 2:03 PM by Reuters
    FRANKFURT (Reuters) - Microsoft Corp said on Tuesday the patches released to guard against Meltdown and Spectre security threats slowed down some personal computers and servers, with systems running on older Intel Corp processors seeing a noticeable decrease in performance.
  • 2:02 PM » Flooding, mudslides force thousands to evacuate in Southern California
    Published Tue, Jan 09 2018 2:02 PM by Reuters
    (Reuters) - Thousands of people fled their homes in Southern California on Tuesday as a powerful overnight rainstorm sparked flash floods and mudslides after a series of intense wildfires burned off protective vegetation last month.
  • 2:02 PM » U.S. job openings, layoffs fall to six-month lows in November
    Published Tue, Jan 09 2018 2:02 PM by Reuters
    WASHINGTON (Reuters) - U.S. job openings fell for a second straight month in November, with declines in the manufacturing and real estate sectors, supporting economist forecasts that job growth will slow in 2018.
  • 1:02 PM » Las Vegas Real Estate in December: Sales Down YoY, Inventory down 36%
    Published Tue, Jan 09 2018 1:02 PM by Calculated Risk Blog
    This is a key distressed market to follow since Las Vegas saw the largest price decline, following the housing bubble, of any of the Case-Shiller composite 20 cities. The Greater Las Vegas Association of Realtors reported Even With Tight Housing Supply, 2017 Was a Strong Year for Local Home Sales; GLVAR Housing Statistics for December 2017 Despite a tight housing supply, the Greater Las Vegas Association of REALTORS® (GLVAR) reported today that 2017 was one of the best years on record for local home sales and that home prices continued to increase from the previous year. ... By the end of December, GLVAR reported 3,827 single-family homes listed for sale without any sort of offer. That's down 35.7 percent from one year ago . For condos and townhomes, the 656 properties listed without offers in December represented a 27.9 percent drop from one year ago. The total number of existing local homes, condos and townhomes sold during December was 3,204 . Compared to one year ago, December sales were down 3.5 percent for homes and down 14.8 percent for condos and townhomes. According to GLVAR, the 46,598 total properties sold during 2017 make it the third best sales year on record and the best year for existing local home sales since 2011. The 2017 sales total exceeds the 41,720 such properties sold in 2016. Last year's total ranks just below the 47,685 sales recorded in 2009 and the record of 48,798 existing local properties sold in 2011, when prices were bouncing along a post-recession bottom and investors were dominating the market. ... GLVAR reported that 25.7 percent of all local properties sold in December were purchased with cash, compared to 28.7 percent one year ago. That's less than half of the February 2013 peak of 59.5 percent, indicating that cash buyers and investors are still active, but playing a smaller role in the local housing market. At the same time, the number of so-called distressed sales continues to decline. GLVAR said short...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 12:36 PM » Washington, D.C. Amends Student Loan Servicing Regulations
    Published Tue, Jan 09 2018 12:36 PM by www.consumerfinancemonitor.com
    The District of Columbia Department of Insurance, Securities and Banking (DISB) has announced a change to the way it calculates a controversial annual assessment fee on student loan servicer licensees. The change was made on December 26, 2017 through the adoption of revised emergency rules under the Student Loan Ombudsman Establishment and Servicing Regulation Amendment... Continue Reading
    Click Here to Read the Full Article

    Source: www.consumerfinancemonitor.com
  • 12:10 PM » US employers posted fewer jobs in November for 2nd month
    Published Tue, Jan 09 2018 12:10 PM by CNBC
    The number of available jobs slipped 0.8 percent - but job openings are still 4.4 percent higher than a year ago.
  • 11:52 AM » Oil prices hit highest in nearly three years on tighter market
    Published Tue, Jan 09 2018 11:52 AM by Reuters
    NEW YORK (Reuters) - Oil prices edged higher on Tuesday, touching its highest since May 2015, supported by OPEC-led production cuts and expectations that U.S. crude inventories have dropped for an eighth week.
  • 11:14 AM » Property Tax Revenue Increases for 22nd Consecutive Quarter
    Published Tue, Jan 09 2018 11:14 AM by eyeonhousing.org
    NAHB analysis of the Census Bureau's quarterly tax data shows that $556 billion in taxes were paid by property owners over the four quarters ending in Q3 2017.[1] It has now been five and a half years since four-quarter property tax revenues last declined, although the growth rate has slowed and is behind that of corporate income taxes and individual income taxes... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 10:55 AM » Fed's Kashkari: Biggest banks need to double current capital levels
    Published Tue, Jan 09 2018 10:55 AM by CNBC
    If Minneapolis Fed President Neel Kashkari gets his way, the nation's biggest banks will need to keep more cash on hand - a lot more.
  • 10:15 AM » End of 2017 Sees Homeowners and Appraisers More In Agreeance than in the Past Two Years
    Published Tue, Jan 09 2018 10:15 AM by PR Newswire
    DETROIT, Jan. 9, 2018 /PRNewswire/ -- The views of homeowners, and those who appraise their properties, are continuing to move closer together. Home appraisals were an average of 0.5 percent lower than what owners expected in December, according to the National Quicken Loans Home Price...
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