Russian Oligarch Suffers 50% Loss On Singapore Real Estate Sale

A Russian national suffered a 52% loss on a recent purchase of a Singapore apartment, bought from the developer at $12.8 million or $3,146 psf in June 2010, and which was subsequently sold for $6.2 million or $1,524 psf by a private treaty.

Homeownership Among US Millennials At All Time Low

The homeownership rate for Americans 35 and younger slumped from 34.7% as of December 2016 to 34.3%, in line with the lowest rate reported by the Census Bureau going back nearly a quarter century.

Eric Peters: If Rates Ever Rise Above 3.5% "It Would Spark Massive Defaults"

"if we tested the Fisher Model by raising interest rates meaningfully, we’d spark massive defaults. Unemployment would jump dramatically. In the 30yrs since Greenspan became Fed Chairman, borrowers have learned this lesson and responded by leveraging up. And that’s why US interest rates will never rise sustainably above 3.5%."

And The Worst-Performing Currency Since Trump's Election Is...

Putting aside the hyperinflationary collapse of Venezuela's black market Bolivar, the Mexican Peso continues to languish since Donald Trump was elected President in Nov 2016 as trade wars and border wall discussion weigh the currency down. On the other hand, amid economic stumbles and nuclear armageddon on its doorstep, the Korean Won is outperforming...

The Relentless Push Towards War

"The only real constant to be found in both European and US politics is war. It doesn’t seem to matter who’s in office in the US - Republican/Democrat, conservative/liberal - there’s a war machine constantly running. My concern is that there's a building risk that one day that war machine is going to bust apart."

Iranian TV CEO Assassinated In Istanbul

The founder and CEO of Iran's satellite TV network Gem TV, Saeed Karimian, 45, who in 2016 was tried in absentia and sentenced to six years in prison by a Tehran court for "spreading propaganda against Iran", was shot dead in Istanbul.

"It's Just Crazy" (Again): 2-Bedroom LA House Sells 40% Above Asking

“It can’t be sustained,” said David Berson, chief economist at Nationwide Insurance and a former chief economist at mortgage giant Fannie Mae, referring to the frenzied buying. “It can’t go on forever.” For now, however, the second housing bubble in a decade is back front and center, courtesy of the Federal Reserve once again.

Peter Schiff: Damn The Deficits, Huge Tax Cuts Ahead!

For once, at least, this does not appear to be Trumpian braggadocio. It really may be the mother of all tax cuts. But if passed, what may this bunker buster do to the economy? While I have rarely met a tax cut I didn’t like, this one just may be more likely to send the economy into a downward spiral than it is to send up to orbit.