Is the U.S. Housing Market a Conundrum or a Paradox (Part 2)?
In the first part of this deep dive into the variables that influence the housing market, we described a fundamental conundrum of the housing market over at least the past 20 years — affordability is decreasing and so is supply.
Red Light, Green Light, 1-2-3
In the children’s game by which we have titled this post, all players but one stand at a distance from the “goal”.
2022 October 28
The 30-year mortgage rate slid 33 basis points this week from 7.37% to 7.04%, erasing all of last week’s increase.
2022 October 21
Wells Fargo Bank and JP Morgan Chase began the news week with a predictable warning about revenue from purchase mortgage originations.
2022 October 14
The U.S. equities markets are prowling lows below the troughs early in the Covid-19 pandemic began. Monday of this week, the NASDAQ dropped to its July 2020 level after five straight days of losses.
2022 October 07
From Nouriel Roubini, the usual trumpeting of his correct predictions with a dour forecast of a hard and long landing for the stock and bond markets and the economy as soon as the end of 2022.
Is the U.S. Housing Market a Conundrum or a Paradox (Part 1)?
Although Einstein was concerned in 1946 with the thinking by humans about the creation and use of atomic weapons for which he urged $200,000 in research funding, his advocacy for new thinking is far more generally applicable.
2022 September 30
In an obituary for the “starter home”, the New York Times reported on the scarcity of single-family homes priced under $300,000.
2022 September 23
Equities took a beating. The Dow closed at its lowest level in almost two years. The NASDAQ was off more than 5% to close at a level last seen in March 2020. The S&P 500 was off 4.7%.
Existing Home Sales Plummet Year-Over-Year
The National Association of Realtors released its existing-home sales data for August 2022. The small decline in sales from July was overshadowed by a 19.9% decline in sales compared to August 2021.