China dumps more US Treasuries, as holdings hit 3.5 year low

China dumps more US Treasuries, as holdings hit 3.5 year low    South China Morning Post...(read more)

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Dow futures fall more than 200 points as fresh virus restrictions raise concerns about recovery - CNBC

Dow futures fall more than 200 points as fresh virus restrictions raise concerns about recovery    CNBC Dow Jones Rallies On Schumer Coronavirus Stimulus Comments    Investor's Business Daily Reduce Tesla And FAANG Exposure By Switching To Value Index Products    Seeking Alpha Stocks rise as Wall Street turns to tech for safety amid increasing Covid-19 cases    CNBC Dow Jones Futures: Coronavirus News Hits Stock Market Rally But Tesla Stock Breaks Out; Nvidia Earnings Strong    Investor's Business Daily......(read more)

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CAR on California October Housing: Sales up 20% YoY, Active Listings down 40%+ YoY

The CAR reported: California homebuying season extends into fall as home sales and prices remain elevated in October, C.A.R. reports Continued record low mortgage interest rates sustained California's housing market in October as home sales and prices took a breather from September's record high levels and still recorded double-digit increases from a year ago, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today. Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 484,510 units in October, according to information ......(read more)

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The pandemic pause in student loan payments may end soon. Here's how to prepare

The pause on student loan payments that started in March due to Covid-19 is set to end in December. Here's what borrowers should do to prepare....(read more)

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Third Republican comes out against Shelton for Fed seat, complicating nomination

Third Republican comes out against Shelton for Fed seat, complicating nomination<br/>https://ift.tt/3kFB0vcread more)

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More fiscal stimulus is needed even with vaccines, Bill Dudley says

Dudley said bridge money of $1 trillion to $2 trillion will be needed to get individuals and businesses to the other side....(read more)

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Election results, vaccine news could shake up the outlook for a coronavirus stimulus package. What you know about the aid that may be coming

Americans have waited for months for more coronavirus relief aid. Now changing political leadership and possible vaccines could influence lawmakers' actions....(read more)

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NY Fed: Manufacturing: Business activity "expanded slightly" in New York State in November

From the NY Fed: Empire State Manufacturing Survey Manufacturing activity in New York State expanded only to a small degree in November. After falling seven points last month, the general business conditions index fell four points to 6.3 this month, indicating that growth continued to slow. ... The index for number of employees rose two points to 9.4, its highest level in nearly a yea r, indicating a modest increase in employment levels. After rising sharply last month, the average workweek index fell eleven points to 4.8, its positive value signaling a small increase in hours worked.......(read more)

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Strong Gains for September Single-Family Permits

Over the first nine months of 2020, total single-family permits issued year-to-date (YTD) nationwide reached 713,286. On a year-over-year (YoY) basis, this is an 10.2% increase over the September 2019 level of 647,244. Year-to-date ending in September, single-family permits across the four regions ranged from an increase of 12.4% in the South to an increase of 6.2% in the Northeast.... Read More › The post Strong Gains for September Single-Family Permits first appeared on Eye On Housing ....(read more)

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Controversial Fed Nominee Set To Prevail In Senate Confirmation Vote This Week

After languishing for more than a year, Judy Shelton's controversial nomination to the Federal Reserve's board of governors appears poised for Senate confirmation in the final weeks of the Trump administration....(read more)

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Dr. Scott Gottlieb on Moderna Covid vaccine data: 'We could effectively end this pandemic in 2021'

"If these full data sets hold, when the full data comes out, we may have two highly effective vaccines against Covid," Dr. Scott Gottlieb told CNBC on Monday....(read more)

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Coronavirus live updates: U.S. cases cross 11 million; Moderna says its vaccine is more than 94% effective

The coronavirus has infected more than 54.48 million people globally as of Monday, killing at least 1.31 million people so far....(read more)

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DOT: Vehicle Miles Driven decreased 9.7% year-over-year in September

The Department of Transportation (DOT) reported : Travel on all roads and streets changed by -8.6% (-23.4 billion vehicle miles) for September 2020 as compared with September 2019. Travel for the month is estimated to be 248.3 billion vehicle miles. The seasonally adjusted vehicle miles traveled for September 2020 is 247.2 billion miles, a -9.7% (-26.7 billion vehicle miles) decline from September 2019 . It also represents 2.8% increase (6.7 billion vehicle miles) compared with August 2020. Cumulative Travel for 2020 changed by -14.5% (-355.5 billion vehicle miles). The cumulative estimate......(read more)

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Majority of workers are looking for new jobs during Covid-19 pandemic. Here's why

As Covid-19 cases continue rising, a new study finds that a majority of workers are looking for new job opportunities amid the pandemic....(read more)

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U.S. Housing Market Takes a Breather But Stays Hot

Between the presidential election and a new wave of coronavirus cases, buyers and sellers had reasons to pause, report finds. The post U.S. Housing Market Takes a Breather But Stays Hot appeared first on Real Estate News & Insights | realtor.com® ....(read more)

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A comment on Q4 GDP

Most economists are revisiting their Q4 forecasts. In their previous forecasts, many assumed some additional disaster relief in Q4, and many underestimated the current surge in COVID. Goldman Sachs economists noted this morning: European and US economies are likely to slow significantly in Q4/Q1 as colder weather puts upward pressure on case growth, in turn triggering restrictions, but reaccelerate sharply in Q2/Q3 following warmer weather, the end of European lockdowns, and mass vaccination. One well known private forecaster (with a great track record) in now forecasting negative GDP in Q4.......(read more)

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Unemployment claims are falling. But that's not necessarily because people found work

Continuing claims, a proxy for the number of people getting unemployment benefits, have been falling. It's not all due to people returning to work, however....(read more)

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Crucial Moderna Covid vaccine data is coming in days — here's what to look out for

Crucial Moderna Covid vaccine data is coming in days - here's what to look out for ...(read more)

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Hotels: Occupancy Rate Declined 35.9% Year-over-year

From HotelNewsNow.com: STR: US hotel results for week ending 7 November U.S. weekly hotel occupancy was relatively flat from the previous week, according to the latest data from STR through 7 November. 1-7 November 2020 (percentage change from comparable week in 2019): • Occupancy: 44.2% (-35.9%) • Average daily rate (ADR): US$91.40 (-31.1%) • Revenue per available room (RevPAR): US$40.36 (-55.8%) Down slightly from 44.4% the prior week, the country's occupancy level was its lowest since the week of June 14-20. emphasis added Since there is a seasonal pattern to the occupancy rate - see graph ......(read more)

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Rental Prices Are Rising for These Big-City Apartments, but Falling for These Others

The narrative says COVID-19 has led renters to flee their claustrophobic apartments in the big cities, leading to big rent drops. That's only partly true. The post Rental Prices Are Rising for These Big-City Apartments, but Falling for These Others appeared first on Real Estate News & Insights | realtor.com® ....(read more)

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In Less Than a Decade, You Won't Be Able To Afford a Home in These Cities

In Less Than a Decade, You Won't Be Able To Afford a Home in These Cities    Yahoo Finance...(read more)

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Coronavirus-fueled suburban migration may be slowing down - Yahoo Finance

Coronavirus-fueled suburban migration may be slowing down    Yahoo Finance...(read more)

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Despite Uncertainty, Home Prices Are Rising by Double Digits in Much of Nation

Home prices sharply headed up-even as the turmoil over a hotly contested presidential election, the coronavirus pandemic, and high unemployment persisted. The post Despite Uncertainty, Home Prices Are Rising by Double Digits in Much of Nation appeared first on Real Estate News & Insights | realtor.com® ....(read more)

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Lawler: Recent Slowdown in US Population Growth Accelerated in 2020

From Tom Lawler: Recent Slowdown in US Population Growth Accelerated in 2020 US population growth, which slowed significantly over the past few years, almost certainly grew at an even slower pace in 2020. All three key components of growth – births, death, and net international migration – should contribute to the slower population growth. Before discussing each, here are the latest estimates ("Vintage 2019) of the US resident population, as well as the estimated components of change, from July 1, 2015 to July 1, 2019.   US Resident Population Yearly Change % Change Births Deaths Net ......(read more)

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Democrats and Republicans are still far apart on economic stimulus deal as coronavirus infections surge

Nancy Pelosi and Chuck Schumer say spiking coronavirus infections call for a sweeping relief bill, one Mitch McConnell is unlikely to support....(read more)

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Here are the things that scare Jerome Powell the most about the economy right now

Powell said he worries about women, children and business owners who face long-term consequences from the coronavirus....(read more)

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Watch Fed Chair Jerome Powell speak live at a European Central Bank forum

The appearance will feature a question-and-answer session with the U.S. central bank chief....(read more)

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Cleveland Fed: Key Measures Show Inflation Eased Year-over-year in October

The Cleveland Fed released the median CPI and the trimmed-mean CPI this morning: According to the Federal Reserve Bank of Cleveland, the median Consumer Price Index rose 0.2% October. The 16% trimmed-mean Consumer Price Index rose 0.1% in October. "The median CPI and 16% trimmed-mean CPI are measures of core inflation calculated by the Federal Reserve Bank of Cleveland based on data released in the Bureau of Labor Statistics' (BLS) monthly CPI report". Note: The Cleveland Fed released the median CPI details for October  here . Car and Truck rentals increased at a 136% annualized rate ......(read more)

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Consumer Prices Unchanged in October

Headline inflation and core inflation have decelerated for the past three months, after increases of 0.6% in June and July. The Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) was unchanged on a seasonally adjusted basis, after 0.6%, 0.4% and 0.2% increases in the past three months. Excluding the volatile food and energy components, "core" CPI... Read More › The post Consumer Prices Unchanged in October first appeared on Eye On Housing ....(read more)

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Weekly Initial Unemployment Claims decreased to 709,000

The DOL reported : In the week ending November 7, the advance figure for seasonally adjusted initial claims was 709,000 , a decrease of 48,000 from the previous week's revised level. The previous week's level was revised up by 6,000 from 751,000 to 757,000. The 4-week moving average was 755,250, a decrease of 33,250 from the previous week's revised average. The previous week's average was revised up by 1,500 from 787,000 to 788,500. emphasis added This does not include the 298,154 initial claims for Pandemic Unemployment Assistance (PUA) that was down from 361,959 the previous week. (There......(read more)

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BLS: CPI unchanged in October, Core CPI unchanged

From the BLS : The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in October on a seasonally adjusted basis after rising 0.2 percent in September, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 1.2 percent before seasonal adjustment. ... The index for all items less food and energy was unchanged in October following an increase of 0.2 percent in September. The index for shelter increased 0.1 percent in October, which was offset by a 0.4-percent decrease in the index for medical care. The indexes for airline fares, ......(read more)

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Treasury yields dip ahead of key economic data and Fed chair's speech

U.S. Treasury yields fell on Thursday ahead of key economic data due to be released later in the day and a speech by Federal Reserve chair Jerome Powell....(read more)

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Big drop in Manhattan apartment prices begins to lure back younger renters

Manhattan real estate may be turning the corner. New rentals rose for the first time in over a year and sales activity has started to creep higher....(read more)

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Fed officials in 'robust' discussions about the future of their asset-purchase program

News about a vaccine doesn't mean that continued policy help isn't needed, San Francisco Fed President Mary Daly said ....(read more)

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Rental fraud warnings jump 30% due to coronavirus pandemic

A sharp increase in the use of online rental applications since the start of the coronavirus pandemic has caused a consequent jump in red flags for fraud....(read more)

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Biden-voting counties equal 70% of America's economy. What does this mean for the nation's political-economic divide?

Even with a new president and political party soon in charge of the White House, the nation's economic standoff continues. Notwithstanding President-elect Joe Biden's solid popular vote victory, last week's election failed to deliver the kind of transformative reorientation of the nation's political-economic map that Democrats (and some Republicans) had hoped for. The data confirms…             ...(read more)

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Reduced Turnover in Construction Labor Market

The construction labor market experienced a reduced level of turnover in the September BLS JOLTS (Job Openings and Labor Turnover) data. The construction sector hiring rate slowed somewhat in September, coming in at 5.3%, after 5.5% gains in August and July. The peak rate of hiring in 2020 occurred in May (9.7%). Construction sector layoffs have been low since May... Read More › The post Reduced Turnover in Construction Labor Market first appeared on Eye On Housing ....(read more)

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NMHC: Rent Payment Tracker Shows Households Paying Rent Decreased 1.1% YoY in November

From the NMHC: NMHC Rent Payment Tracker Finds 80.4 Percent of Apartment Households Paid Rent as of November 6 The National Multifamily Housing Council (NMHC)'s Rent Payment Tracker found 80.4 percent of apartment households made a full or partial rent payment by November 6 in its survey of 11.5 million units of professionally managed apartment units across the country. This is a 1.1 percentage point, or 131,712 household decrease from the share who paid rent through November 6, 2019 and compares to 79.4 percent that had paid by October 6, 2020. These data encompass a wide variety of......(read more)

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Fed's Kaplan concerned about next six months as virus surges

(Reuters) - Dallas Federal Reserve President Robert Kaplan said on Tuesday he was "cautious and concerned" about downside economic risks in the short run because of the resurgence of the coronavirus, but more optimistic in the longer term....(read more)

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Treasury-Mortgage Spread Significantly Narrows in October

In October 2020, the spread between the 10-year Treasury yield and the 30-year fixed-rate mortgage rate, as measured by Freddie Mac's Primary Mortgage Market Survey (PMMS), significantly narrowed as Treasury rates were pushed upward in anticipation of a vaccine breakthrough and a rebound in the labor market and as mortgage rates remained low. At the beginning of October, the 10-year... Read More › The post Treasury-Mortgage Spread Significantly Narrows in October first appeared on Eye On Housing ....(read more)

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Small Business Optimism Unchanged in October

Most of this survey is noise, but sometimes there is some information, especially on the labor market. From the National Federation of Independent Business (NFIB): May 2020 Report The NFIB Optimism Index remained at 104.0 in October, unchanged from September and a historically high reading. . As reported in NFIB's monthly jobs report, small business owners are looking to hire, reporting a historically high level of job openings in October. Overall, 55% of owners reported hiring or trying to hire in October, down 1 point from September. Thirty-three percent (seasonally adjusted) of all owners......(read more)

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The Covid pandemic is worse than 2008 crisis for a majority of Americans, study says

A majority of U.S. adults say the Covid-19 economy is worse than the 2008 Great Recession, according to a Edelman Financial Engines 2020 Financial Insights study....(read more)

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U.S. still faces possible default wave, asset declines due to pandemic: Fed

WASHINGTON (Reuters) - The U.S. may still face a wave of debt defaults and "significant declines" in asset prices because of the coronavirus pandemic and recession, the Federal Reserve warned on Monday in a stark reminder that the economy, while recovering, is far from out of the woods....(read more)

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What a Biden Administration Will Mean for Housing-Finance Reform

The Trump administration has pursued the recapitalization of Fannie Mae and Freddie Mac, but a Biden administration will likely have different goals. The post What a Biden Administration Will Mean for Housing-Finance Reform appeared first on Real Estate News & Insights | realtor.com® ....(read more)

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Vaccine news unleashes new momentum in stock market as hunkered-down investors flee cash - CNBC

Vaccine news unleashes new momentum in stock market as hunkered-down investors flee cash    CNBC...(read more)

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Leading Index for Commercial Real Estate Decreased in October

From Dodge Data Analytics: Dodge Momentum Index Loses Ground in June The Dodge Momentum Index fell 1.8% in October to 127.5 (2000=100) from the revised September reading of 129.8. The Momentum Index, issued by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. The commercial component of the Momentum Index lost 4.4% over the month, but the institutional component gained 3.3%. The Momentum Index has struggled to......(read more)

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E-brokers report outages as Dow jumps 1,000 points in vaccine rally

E-brokers report outages as Dow jumps 1,000 points in vaccine rally    CNBC Schwab reports users may have issues with brokerage's website as stocks hit records    MarketWatch Schwab, Merrill, Fidelity and Vanguard experiencing difficulties, Downdetector says    Seeking Alpha View Full Coverage on Google News...(read more)

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Housing stocks see split reaction on coronavirus vaccine news, as mortgage rates jump

Homebuilder stocks are taking a hit on Pfizer's positive coronavirus vaccine news, while apartment REITs are finally crawling out of the basement....(read more)

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‘V-shaped' recovery on track amid vaccine hopes and Biden win, says Goldman Sachs

Goldman Sachs is anticipating a more "V-shaped" recovery for the global economy than consensus forecasts suggest....(read more)

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Highest Paid Occupations in Construction in 2019

According to the 2019 Bureau of Labor Statistics Occupational Employment Statistics (OES) Survey data and analysis by the National Association of Home Builders (NAHB), half of payroll workers in construction earn more than $49,030 and the top 25% make at least $68,690. In comparison, the U.S. median wage is $39,810, while the top quartile (top 25%) makes at least $64,240.... Read More › The post Highest Paid Occupations in Construction in 2019 first appeared on Eye On Housing ....(read more)

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