Real House Prices and Price-to-Rent Ratio in May

Here is the earlier post on Case-Shiller: Case-Shiller: National House Price Index increased 6.4% year-over-year in May It has been over eleven years since the bubble peak. In the Case-Shiller release this morning, the seasonally adjusted National Index (SA), was reported as being 9.5% above the previous bubble peak. However, in real terms, the National index (SA) is still about 9.9% below the bubble peak (and historically there has been an upward slope to real house prices).  The composite 20, in real terms, is still 15.8% below the bubble peak. The year-over-year increase in prices ......(read more)

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Young People Don't Want Construction Jobs. That's a Problem for the Housing Market.

Disinterest in construction work is contributing to a labor shortage that has meant fewer homes built and rising prices-possibly for years to come. The post Young People Don't Want Construction Jobs. That's a Problem for the Housing Market. appeared first on Real Estate News & Insights | realtor.com® ....(read more)

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US, China Said to Aim to Restart Talks to Defuse Trade War

Bloomberg US, China Said to Aim to Restart Talks to Defuse Trade War Bloomberg The U.S. and China are trying to restart talks aimed at averting a full-blown trade war between the world's two largest economies, two people familiar with the effort said. Representatives of U.S. Treasury Secretary Steven Mnuchin and Chinese Vice ... and more »...(read more)

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US Employment Costs Increase From Year Ago by Most Since 2008

Bloomberg US Employment Costs Increase From Year Ago by Most Since 2008 Bloomberg U.S. employment costs accelerated in the second quarter from a year ago by the most in this expansion on faster growth in worker pay and benefits, according to Labor Department data released Tuesday. and more »...(read more)

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Rising Risks: More intense flash floods hit overdeveloped real estate, destroying small-town America

A historic town in Maryland, barely a blip on the map, is a blueprint for developing disaster: real estate development in the face of increasingly wet weather....(read more)

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Consumer confidence hits 127.4 in July, vs. 126.5 estimate

Consumer confidence hits 127.4 in July, vs. 126.5 estimate|| 105361832...(read more)

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Personal Income increased 0.4% in June, Spending increased 0.4%

The BEA released the Personal Income and Outlays report for June: Personal income increased $71.7 billion (0.4 percent) in June according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $65.3 billion (0.4 percent) and personal consumption expenditures (PCE) increased $57.1 billion (0.4 percent). Real PCE increased 0.3 percent. The PCE price index increased 0.1 percent. Excluding food and energy, the PCE price index increased 0.1 percent. The June PCE price index increased 2.2 percent year-over-year and the June PCE price index,......(read more)

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China's July manufacturing growth slows on trade dispute, softer domestic demand

China's July manufacturing growth slows on trade dispute, softer domestic demand ...(read more)

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Fed set to hold interest rates steady, remains on track for more hikes

The Federal Reserve is expected to keep interest rates unchanged on Wednesday but solid economic growth combined with rising inflation are likely keep it on track for another two hikes this year even as President Donald Trump has ramped up criticism of its push to raise rates....(read more)

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Bonds gain, yen falters as BOJ pledges to keep rates low

Global bond prices gained and the yen fell on Tuesday after the Bank of Japan (BoJ) wrongfooted hawks as it pledged to keep interest rates extremely low for an extended period....(read more)

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Treasury Raises Borrowing Outlook With Second-Half Projection Hitting $769 Billion

Bloomberg Treasury Raises Borrowing Outlook With Second-Half Projection Hitting $769 Billion Bloomberg The U.S. Treasury Department said it plans to borrow more this quarter than previously estimated, as tax cuts and spending hikes inflate the nation's budget deficit. The new projections put total net borrowing at $769 billion for the second half of ... and more »...(read more)

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This Is How Much Money You Need to Pay Rent in the Biggest U.S. Cities

The average renter in the U.S. needs to make more than three times the minimum wage to afford a modest two-bedroom apartment. The post This Is Exactly How Much Money You Need to Make to Pay Rent in the Biggest U.S. Cities appeared first on Real Estate News & Insights | realtor.com® ....(read more)

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Interest rates could move higher this week no matter what Fed does

This could be one of the most volatile weeks of the summer for the bond market, based on a series of important events, from the Bank of Japan's Tuesday meeting, to the Fed and Friday's jobs report....(read more)

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Insane things people will or won't do for a free home

From living on an all fast-food diet to cutting communication with friends and family, a survey finds the surprising things people are willing to do in exchange for their dream home at no cost....(read more)

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Q2 2018 GDP Details on Residential and Commercial Real Estate

The BEA has released the underlying details for the Q2 advance GDP report. The BEA reported that investment in non-residential structures increased at a 13.3% annual pace in Q2.  Investment in petroleum and natural gas exploration increased substantially recently, from a $63 billion annual rate in Q4 2016 to a $140 billion annual rate in Q2 2018 - but is still down from a recent peak of $192 billion in Q4 2014. Without the increase in petroleum and natural gas exploration, non-residential investment would only be up about 3% year-over-year. Click on graph for larger ......(read more)

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What's New in Real Estate Tech from Inman's Hacker Connect

Real estate technologists from around the world recently gathered at the day-long Hacker Connect session that kicked off the week-long Inman Connect conference. While there were dozens of speakers on topics ranging from home search to transaction closing over a (very) full-day, these were my main takeaways....(read more)

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Existing Home Sales in June 2018 Like a Slow Leaking Tire — Hard to Notice the Difference But the Dash Warning Light Just Illuminated

Existing home sale slipped 2.2 percent in June 2018 versus a year ago to 5.38 million sales on a seasonally adjusted annualized basis (SAAR) according to National Association of Realtors® (NAR).  Sales dipped 0.6 percent sequentially from May on a SAAR.  From an unadjusted basis, housing sales in the first six months totaled 2.631 million, … Read more...(read more)

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Dallas Fed: "Robust Expansion in Texas Manufacturing Continues; Uncertainty Picks Up"

From the Dallas Fed: Robust Expansion in Texas Manufacturing Continues; Uncertainty Picks Up The robust expansion in Texas factory activity continued in July, according to business executives responding to the Texas Manufacturing Outlook Survey. The production index, a key measure of state manufacturing conditions, rose six points to 29.4, signaling an acceleration in output growth. Other indexes of manufacturing activity also indicated continued solid expansion in July. The survey's demand measures-the new orders and growth rate of orders indexes-moved down but remained well above average at ......(read more)

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Full-scale bailout for industries impacted by tariffs would cost $39 billion, Chamber of Commerce says

Spreading a buyout across all industries affected by the ongoing trade war would cost taxpayers $39 billion, according to a U.S. Chamber of Commerce analysis....(read more)

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Euro zone economic sentiment edges lower in July

Euro zone economic sentiment edges lower in July ...(read more)

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China tempts Britain with free trade, says door to U.S. talks open

China tempts Britain with free trade, says door to U.S. talks open ...(read more)

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Cities Where People Own Their Homes the Longest—and Those Where They Pack Up Fast

The realtor.com data team found the areas where homeowners are staying in their abodes the longest-and the shortest-amount of time. The post Cities Where People Own Their Homes the Longest-and Those Where They Pack Up Fast appeared first on Real Estate News & Insights | realtor.com® ....(read more)

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Housing comments from Soylent Green

Long term readers will remember mortgage broker "Soylent Green is People". He sent me these comments on housing that I'll pass along: "A bit of a panic is breaking out amongst my Realtor friends. Sales are down. There are more cancellations right before closings than usual. Builders are getting a few drop outs as well on some of their units, but that could be tied to overseas buyers with other concerns. If this sales "air pocket" continues, we might see some Agents have to actually marketing, rather than just shilling their homes at the first buyer through the door. A few Agents have seen......(read more)

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US housing finance agency director Watt under investigation for alleged sexual harassment

Federal Housing Finance Agency director Mel Watt is under investigation for alleged sexual harassment of an agency employee....(read more)

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Virtual Staging: An Innovative Way to Impress Buyers

As more home-sellers turn to virtual staging, we have to ask: Is it really worth it, and does it compare to traditional staging? According to the National Association of Realtors®, 77 percent of buyers' agents say that staging makes it easier for buyers to visualize themselves living in a home. As many as 38 percent […] The post Virtual Staging: An Innovative Way to Impress Buyers appeared first on Redfin Real-Time ....(read more)

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Homeownership Rate Jumps to 4-Year High as More Americans Make Gains

More Americans became homeowners in the spring, and the number of renters decreased, adding to evidence that consumers still aspire to ownership despite ongoing housing market headwinds. The post Homeownership Rate Jumps to 4-Year High as More Americans Make Gains appeared first on Real Estate News & Insights | realtor.com® ....(read more)

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Compass real estate brokerage disrupts with high-tech, smart 'for sale' sign

Compass brokerage is ready to disrupt the classic "for sale" sign with a high-tech, interactive model that will be available to its 5,000 agents....(read more)

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4 takeaways from a long-term GDP revision

A batch of new measurements of economic growth reveal changes in the nation's savings rate, tweaks to cure the winter blues and how the sweet deal you got on that iPhone was better than you thought, The New York Times reports....(read more)

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Consumer sentiment hits 97.9 in July vs. 97.1 estimate

Consumer sentiment was expected to decrease in the final reading of July....(read more)

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U.S. says has addressed residual seasonality in GDP data

U.S. government statisticians say they have addressed a methodology problem, which analysts had argued tended to understate economic growth in the first quarter....(read more)

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Second-quarter GDP up 4.1%, as expected

The Bureau of Economic Analysis published its much-anticipated initial reading on second-quarter economic growth Friday. Economists surveyed by Reuters expected that gross domestic product grew at a 4.1 percent annualized rate. Get the market reaction here.....(read more)

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Exclusive: China eyes infrastructure boost to cushion growth as trade war escalates - sources

Exclusive: China eyes infrastructure boost to cushion growth as trade war escalates - sources ...(read more)

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BOJ Seeks to Rein in Yields With Second Fixed-Rate Operation

Bloomberg BOJ Seeks to Rein in Yields With Second Fixed-Rate Operation Bloomberg The Bank of Japan offered to buy an unlimited amount of bonds for a second time this week, seeking to tame a yield increase spurred by speculation it may adjust its ultra-loose monetary policy. Yields and the yen fluctuated. The offer, made at 0.10 ... and more »...(read more)

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What Economists Are Saying Ahead of Friday's US GDP Report

Bloomberg What Economists Are Saying Ahead of Friday's US GDP Report Bloomberg White House economic adviser Lawrence Kudlow is expecting a "very good" number for second-quarter U.S. growth, while one economist has warned that the pace of expansion is " close to a peak." Either way, analysts are largely projecting that the main ... and more »...(read more)

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Freddie Mac: Mortgage Serious Delinquency Rate Decreased in June

Freddie Mac reported that the Single-Family serious delinquency rate in June was 0.82%, down from 0.87% in May. Freddie's rate is down from 0.85% in June 2017. Freddie's serious delinquency rate peaked in February 2010 at 4.20%. This is the lowest serious delinquency for Freddie Mac since April 2008. These are mortgage loans that are "three monthly payments or more past due or in foreclosure".  Click on graph for larger image The increase in the delinquency rate late last year was due to the hurricanes - no worries about the overall market (These are serious delinquencies, so it took ......(read more)

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US Owner-Occupied Household Formation Is Up

Bloomberg US Owner-Occupied Household Formation Is Up Bloomberg A record increase in owner-occupied households is a plus for the U.S. economy. Census Bureau data for June show an increase of 2.3 million from a year earlier to an all-time high 121.3 million. The data suggest demographics are favorable for the ......(read more)

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Housing market showing signs of cracking: 'Anything goes list-price strategy is no longer working'

The housing market is slowing down, which means in even some of the hottest markets, bidding wars are less fierce....(read more)

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International buyers are dropping out of US housing market

An annual survey of U.S. home sales to international buyers saw a sharp drop in the last year. Realtors blame tight supply and high prices, but there may be a political component as well....(read more)

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Mortgage Rates Rebound in Critical Moment for Housing

Rates for home loans jumped along with the broader bond market, setting up what one economist is calling a key test of the health of the housing market. The post Mortgage Rates Rebound in Critical Moment for Housing appeared first on Real Estate News & Insights | realtor.com® ....(read more)

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Kansas City Fed: Regional Manufacturing Activity "Continued to Expand Solidly" in July

From the Kansas City Fed: Tenth District Manufacturing Activity Continued to Expand Solidly The Federal Reserve Bank of Kansas City released the July Manufacturing Survey today. According to Chad Wilkerson, vice president and economist at the Federal Reserve Bank of Kansas City, the survey revealed that Tenth District manufacturing activity continued to expand solidly, and expectations for future growth remained strong. "Our composite index came down slightly from record highs in recent months," said Wilkerson. " Many firms remain concerned about labor availability and tariffs , but optimism......(read more)

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Foreign Buyers Are Purchasing Way Less U.S. Real Estate—Especially in These Top Markets

Foreign-resident buyers and recent immigrants closed on far fewer properties in the 12-month period ending in March 2018, a new report finds. So which markets are feeling the impact? The post Foreign Buyers Are Purchasing Way Less U.S. Real Estate-Especially in These Top Markets appeared first on Real Estate News & Insights | realtor.com® ....(read more)

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HVS: Q2 2018 Homeownership and Vacancy Rates

The Census Bureau released the Residential Vacancies and Homeownership report for Q2 2018. This report is frequently mentioned by analysts and the media to track household formation, the homeownership rate, and the homeowner and rental vacancy rates.  However, there are serious questions about the accuracy of this survey. This survey might show the trend, but I wouldn't rely on the absolute numbers.  The Census Bureau is investigating the differences between the HVS, ACS and decennial Census, and analysts probably shouldn't use the HVS to estimate the excess vacant......(read more)

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US core capital goods orders and shipments surge in June

New orders for key U.S.-made capital goods increased more than expected in June and shipments surged....(read more)

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US jobless claims rebound from a more than 48 1/2-year low

The number of Americans filing for unemployment benefits rose from a more than 48 1/2-year low last week....(read more)

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ECB keeps rates unchanged with its massive stimulus program set to end this year

The European Central Bank (ECB) decided to keep its key interest rates unchanged Thursday, with policymakers showing little appetite for change after a flurry of activity at their last meeting....(read more)

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The US Housing Market Looks Headed for Its Worst Slowdown in Years

Bloomberg The US Housing Market Looks Headed for Its Worst Slowdown in Years Bloomberg They were fed up with Seattle's home bidding wars. They were only in their late 20s but had already lost two battles and were ready to renew with their landlord. Then, in May, their agent called. Suddenly, Redfin's Shoshana Godwin told the couple ......(read more)

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A Low Credit Score Costs Home Buyers Big—Here's How Much

A very good credit score can save home buyers tens of thousands of dollars over the life of their mortgages, according to a recent report The post A Low Credit Score Costs Home Buyers Big-Here’s How Much appeared first on Real Estate News & Insights | realtor.com® ....(read more)

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EU offers trade concessions in talks with Trump: Wall Street Journal

U.S. President Donald Trump has secured concessions from the European Union to avoid a trade war, the Wall Street Journal reported on Wednesday, citing an EU official who was in the room during talks between Trump and the EU's Jean-Claude Juncker....(read more)

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What Would a Home Buyer Give Up for a Good School? A Garage, for One

Many home buyers these days are willing to sacrifice square footage and other amenities to afford a house in a well-respected school system. The post What Would a Home Buyer Give Up for a Good School? A Garage, for One appeared first on Real Estate News & Insights | realtor.com® ....(read more)

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Fannie-Freddie a Top Focus If Democrats Win House, Waters Says

Bloomberg Fannie-Freddie a Top Focus If Democrats Win House, Waters Says Bloomberg Representative Maxine Waters said fixing Fannie Mae and Freddie Mac would top her list of priorities if Democrats take control of the House in this year's mid-term elections and she becomes leader of the Financial Services Committee next year....(read more)

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