'Sell everything,'DoubleLine's Gundlach says

NEW YORK (Reuters) - Jeffrey Gundlach, the chief executive of DoubleLine Capital, said on Friday that many asset classes look frothy and his firm continues to hold gold, a traditional safe-haven, along with gold miner stocks....(read more)

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Lawler: Homebuilder Summary Table for Q2 2016

CR Note: Housing economist Tom Lawler sent me these summary results for several large publicly-traded builders who have reported results for last quarter. Lawler notes: CalAtlantic was formed with the merger of Standard Pacific and Ryland, completed in October 2015. The Q2/2015 statistics for CalAtlantic are pro forma statistics for Standard Pacific and Ryland combined. Also, while MDC Holdings has not yet released its "official" results for Q2/2016, it did release preliminary estimates of selected operations statistics for the quarter, which are shown above.   Net Orders Settlements ......(read more)

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Land Scarce for Luxury Homes

The demand for land is driving up prices-especially for prime lots in affluent neighborhoods. The post Land Scarce for Luxury Homes appeared first on Real Estate News and Advice - realtor.com ....(read more)

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Fed's Williams downplays GDP weakness, sees rate hikes

CAMBRIDGE, Mass. (Reuters) - The Federal Reserve could raise interest rates up to two times before year end, a top Fed official said on Friday as he downplayed data that showed the U.S. economy grew far less than expected in the last quarter....(read more)

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Q2 GDP: Investment Slump

The graph below shows the contribution to GDP from residential investment, equipment and software, and nonresidential structures (3 quarter trailing average). This is important to follow because residential investment tends to lead the economy, equipment and software is generally coincident, and nonresidential structure investment trails the economy. In the graph, red is residential, green is equipment and software, and blue is investment in non-residential structures. So the usual pattern - both into and out of recessions is - red, green, blue. The dashed gray line is the contribution from......(read more)

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What your friends do on Facebook could directly affect the house you live in

Americans' social media networks can have a big impact on their decision to buy a house, new research from NYU shows....(read more)

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Fed's Williams says he's not concerned about a recession

San Francisco Fed President John Williams said he is not concerned about a recession despite the fact that the expansion is now over seven years old....(read more)

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Investors continue equity exodus, buy bonds and emerging markets

LONDON (Reuters) - Investors pulled more money from global equity funds in the past week while buying bonds and pumping cash into emerging debt, Bank of America Merrill Lynch (BAML) said on Friday....(read more)

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Chicago PMI declines in July, Final July Consumer Sentiment at 90.0

Chicago PMI: July Chicago Business Barometer Down 1 Point to 55.8 The MNI Chicago Business Barometer fell 1 point to 55.8 in July from the 1½-year high of 56.8 in June , led by a fall in New Orders. Smaller declines were seen in Production and Order Backlogs, which offset a strong increase in the Employment component. The Barometer's three-month average , though, which provides a better picture of the underlying trend in economic activity, rose to 54.0 from 52.2 in Q2, the highest since February 2015 . ... "Demand and output softened somewhat in July following a solid showing in June but......(read more)

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Apartment market 'increasingly jittery'

Rents are soaring and demand for apartments is historically high, but some developers are overestimating the market....(read more)

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US economy grows a weak 1.2 percent in Q2 as inventories fall

The economy grew far less than expected as inventories fell for the first time since 2011, but a surge in spending pointed to underlying strength....(read more)

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Global funds cut share holdings to five-year lows as Brexit bites

LONDON (Reuters) - Global investors dumped equities in July and raised bond allocations after Britain's vote to leave the European Union and subsequent signs of damage to economic growth prompted a dash toward fixed income....(read more)

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Bank of Japan ups ETF purchases, keeps interest rates steady: Reuters

This is a breaking news story. Please check back for updates.. -Follow CNBC International on Twitter and Facebook.....(read more)

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Three Things That Show Investors Are Making a Huge Bet on Low Interest Rates

Three Things That Show Investors Are Making a Huge Bet on Low Interest Rates Bloomberg How low can you go? Fixed income investors are betting that benchmark interest rates will continue to hover around zero percent, pouring billions of dollars into longer-dated bonds and trades that stand to benefit if central banks maintain the status quo. and more »...(read more)

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Homeownership rate lowest since 1965

After rising just over a decade ago to its highest level ever, the homeownership rate fell in Q2 to match its all-time low....(read more)

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US crude dips into technical bear market, down 20% from 2016 high

Oil prices fell to a three-month low as producers continued to pump more than needed....(read more)

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Big banks up their odds of a rate hike this year

Wall Street banks are pricing in expectations that the Federal Reserve will increase rates before 2016 is out....(read more)

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How affordable housing gets built

by Ethan Handelman, National Housing Conference; Pamela Blumenthal, Urban Institute  A version of this post originally appeared on  Redfin . Financing affordable housing isn't easy. Our  new interactive tool  shows that without subsidies, which can be hard to come by, it's virtually impossible for developers to build homes that are affordable to low- or extremely low income families. That's because lenders loan money for housing development based on the property's expected income, and when rents are set to affordable levels, there's a huge gap between the......(read more)

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Mortgage Rates up Slightly

Mortgage Rates up Slightly...(read more)

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Greenspan 'Nervous' Bond Prices Too High, Sees Stagflation Ahead

Bloomberg Greenspan 'Nervous' Bond Prices Too High, Sees Stagflation Ahead Bloomberg Alan Greenspan is worried bond prices have risen too high. "We ought to be somewhat nervous," the former Federal Reserve chairman said in an interview Thursday with Bloomberg Television. Start your day with what's moving markets. Get our markets daily ... and more »...(read more)

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US advance June goods trade deficit $63.3 billion

The U.S. advance June goods trade deficit came in at $63.3 billion, widening from the $60.6 billion trade gap reported a month earlier....(read more)

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U.S. jobless claims increase; labor market still strong

WASHINGTON (Reuters) - The number of Americans filing for unemployment benefits rose more than expected last week, but the underlying trend continued to point to sustained labor market strength....(read more)

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America's 20 Hottest Real Estate Markets for July 2016

Watch out-we're seeing the hottest July in terms of market activity in a decade. According to our numbers, these U.S. markets are on fire. The post America's 20 Hottest Real Estate Markets for July 2016 appeared first on Real Estate News and Advice - realtor.com ....(read more)

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Freddie Mac Quarterly Apartment Investment Index Shows Strong Fundamentals in National and Local Markets

Freddie Mac Quarterly Apartment Investment Index Shows Strong Fundamentals in National and Local Markets...(read more)

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Fed appears more open to September rate hike

Fed officials said that near-term risks to the economy had diminished, opening the door a bit more for a rate hike as soon as September....(read more)

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Fed leaves rates unchanged in July meeting

The Federal Reserve opted Wednesday not to raise interest rates, despite painting a rosier economic picture than it did just a month ago....(read more)

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Bond Report: Treasury yields fall to 2-week low as the Fed is set to update policy

Treasury prices gain Wednesday, pushing yields lower, as investors react to weaker-than-expected economic data ahead of a key Federal Reserve statement on monetary policy due in the afternoon....(read more)

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Shipping Container Home May Be the First of Many in Houston

Right now, there's just this one shipping container home on the market. But if the developer has his way, there will be a whole community in Houston, TX. The post Shipping Container Home May Be the First of Many in Houston appeared first on Real Estate News and Advice - realtor.com ....(read more)

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Could subprime auto loans lead to same economic catastrophe as risky mortgages?

The auto-loan market has been called "stretched," but it's far from being the powder keg that the mortgage market was when the globe plunged into a financial crisis some eight years ago, loan and credit experts emphasized....(read more)

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US core capital goods orders rise modestly; overall orders weak

Weak demand for machinery and a range of other goods suggested business spending will remain subdued for a while....(read more)

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Silicon Valley Elites Get Home Loans With No Money Down

Silicon Valley Elites Get Home Loans With No Money Down Bloomberg It turns out that even the well-off need help in a housing market as crazy as the one in the San Francisco Bay area, and lenders are elbowing each other in a rush to provide it. They're courting Silicon Valley workers with tailored loans, guaranteed 24 ... and more »...(read more)

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Dovish Wall Street Now Sees Just One Rate Hike This Year

The doves have taken flight on Wall Street with expectations for continued easy monetary policy from the Federal Reserve soaring to new heights. "Brexit will keep the Fed from acting next week, and given the Fed's proclivity to keep rates unchanged before a U.S. presidential election, we won't see a rate hike until December at the earliest," Rob Morgan, chief......(read more)

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Freddie Mac Issues Monthly Volume Summary for June 2016

Freddie Mac Issues Monthly Volume Summary for June 2016...(read more)

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Fannie Mae Enhances HomeReady Mortgage to Expand Access to Credit for Eligible Borrowers

Fannie Mae announced enhancements to HomeReady, the affordable mortgage option designed to meet the diverse needs of today's borrowers....(read more)

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Real Prices and Price-to-Rent Ratio in May

Here is the earlier post on Case-Shiller: Case-Shiller: National House Price Index increased 5.0% year-over-year in May The year-over-year increase in prices is mostly moving sideways now around 5%. In May, the index was up 5.0% YoY. In the earlier post , I graphed nominal house prices, but it is also important to look at prices in real terms (inflation adjusted).  Case-Shiller, CoreLogic and others report nominal house prices.  As an example, if a house price was $200,000 in January 2000, the price would be close to $275,000 today adjusted for inflation (37%). ......(read more)

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Why Aren't More New Homes Selling When Demand Is Soaring?

Despite the hordes of buyers hoping to take advantage of low mortgage interest rates, builders still aren't putting up enough new homes to meet the demand. The post Why Aren’t More New Homes Selling When Demand Is Soaring? appeared first on Real Estate News and Advice - realtor.com ....(read more)

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El-Erian: Market Too Complacent About Fed Rates

Bloomberg El-Erian: Market Too Complacent About Fed Rates Bloomberg Mohamed El-Erian, chief economic adviser at Allianz, discusses his expectations for what we'll hear from the Federal Reserve, Fed influence over markets, and the disconnect between markets and fundamentals. He speaks on "Bloomberg Markets." (El-Erian ... and more »...(read more)

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A few Comments on June New Home Sales

The new home sales report for June was strong at 592,000 on a seasonally adjusted annual rate basis (SAAR) - the highest since early 2008 - and combined sales for March, April and May were revised up by 22 thousand SAAR. Sales were up 25.4% year-over-year (YoY) compared to June 2015. And sales are up 10.1% year-to-date compared to the same period in 2015. Earlier: New Home Sales increased to 592,000 Annual Rate in June, Highest since 2008 . Click on graph for larger image. This graph shows new home sales for 2015 and 2016 by month (Seasonally Adjusted Annual Rate).......(read more)

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U.S. new home sales rise to near eight-and-a-half year high in June

WASHINGTON (Reuters) - New U.S. single-family home sales rose more than expected in June, reaching their highest level in nearly 8-1/2 years, the latest sign that the housing market was gathering momentum....(read more)

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Black Knight's First Look at June Mortgage Data

From Black Knight: Black Knight Financial Services' First Look at June Mortgage Data: Foreclosure Starts Up for Second Consecutive Month; Prepays Rise on Historically Low Rates • Despite June's increase, first-time foreclosure starts in Q2 2016 were at their lowest level in over 16 years • Prepayment speeds (historically a good indicator of refinance activity) jumped to a 12-month high, mirroring an overall rise in refinance activity driven by historically low interest rates • Early-stage delinquencies saw a seasonal increase in June, while 90-day delinquencies and foreclosure inventories......(read more)

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S&P/Case-Shiller: US home prices rise 5.2% in May; gains ease from prior month

The pace of U.S. home price gains cooled off in May as regional patterns were seen shifting, according to the S&P/Case-Shiller monthly report....(read more)

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CoreLogic Reports Second Quarter 2016 Financial Results

Record Second Quarter Revenues, Operating Income and Net Income; Raising Financial Guidance and Share Repurchase Target for Full-Year 2016 Revenues up 30% to $500 million driven primarily by Valuation Solutions Group (VSG) launch, growth in insurance and spatial solutions, and share and pricing gains in Risk Management and Work Flow (RMW). Operating income from continuing operations up 24% to $76 million fueled by higher revenue and expense productivity benefits offset partially by reinvestment in technology and compliance, severance and acquisition-related transaction and......(read more)

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Why It's So Hard to Build Affordable Housing: It's Not Affordable

Bloomberg Why It's So Hard to Build Affordable Housing: It's Not Affordable Bloomberg A real estate developer wanted to increase affordable housing in Denver, trying to make fiscal sense out of a plan to build rental apartments for people making only 30 percent of the area's median income-the kind of housing America desperately needs. and more »...(read more)

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EverBank in 'Advanced' Takeover Talks With Undisclosed Bidder

EverBank in 'Advanced' Takeover Talks With Undisclosed Bidder Bloomberg EverBank Financial Corp., the largest bank based in Florida by deposits, is in "advanced negotiations" to sell itself to an undisclosed bidder as U.S. regional lenders seek ways to cope with regulations and low interest rates. A "well-respected ... and more »...(read more)

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BlackRock: Expect Lower Returns For Pretty Much Everything Over the Next Five Years

Bloomberg BlackRock: Expect Lower Returns For Pretty Much Everything Over the Next Five Years Bloomberg Good luck trying to make double-digit returns. According to BlackRock Inc., it's going to be really hard for any asset class to give investors returns above a mere 6 percent in the coming years. In fact, according to BlackRock Inc.'s Global Chief ... and more »...(read more)

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Distressed Sales and All Cash Sales for Selected Cities in June

Economist Tom Lawler sent me the table below of short sales, foreclosures and all cash sales for selected cities in June. On distressed: Total "distressed" share is down year-over-year in all of these markets. Short sales and foreclosures are down in all of these areas. The All Cash Share (last two columns) is mostly declining year-over-year. As investors continue to pull back, the share of all cash buyers continues to decline.   Short Sales Share Foreclosure Sales Share Total "Distressed" Share All Cash Share June- 2016 June- 2015 June- 2016 June- 2015 June- 2016......(read more)

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The Fed: Wage growth may be about to reach seven-year high

Some measures of wage growth could hit the highest level in seven years when the employment cost index is released on Friday....(read more)

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Fed with 'very, very low' credibility gets ready to talk policy

The market has become more prone to take a "we'll believe it when we see it" attitude toward any moves in interest rates....(read more)

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FOMC Preview: No Rate Hike, Possibly Preparing for September Rate Hike

The FOMC will meet on Tuesday and Wednesday, and no change to policy is expected. There will no economic projections released at this meeting, and there is no scheduled press conference by Fed Chair Janet Yellen (in the unlikely event there is a change to policy, Yellen will probably hold a press conference). So the focus will be on the FOMC statement. Here is the first paragraph from the April FOMC statement : Information received since the Federal Open Market Committee met in March indicates that labor market conditions have improved further even as growth in economic activity appears to......(read more)

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Fannie Mae Issues $10.1 Billion of Multifamily Securities

Fannie Mae Issues $10.1 Billion of Multifamily MBS in the Second Quarter of 2016....(read more)

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