Housing Market

New Study Finds That Trump's Immigration Crack Down Could Cost $5 Trillion In GDP Over 10 Years

No matter where you come down on the immigration debate, like it or not, there are millions of low-skill jobs in this country, particularly in the Southwest, that our pampered, snowflake millennials wouldn't touch with a 10-foot pole and are thus filled by "undocumented" workers primarily from Mexico and other portions of South America...here's a look at the economic consequences of removing those workers.

Could Trump's Immigration Ban Cause Another Housing Crash?

"If Trump gets the immigration plan he wants, the housing market will get hit harder than any other. If millions of people get deported and more people don’t come in to take their place, then you’ll have downward pressure on home prices, especially in urban areas."

When Speculators Prosper Through Ignorance

"Speculators often prosper through ignorance; it is a cliche that in a roaring bull market, knowledge is superfluous and experience is a handicap. But the typical experience of the speculator is one of temporary profit and ultimate loss."

US Futures, European Stocks Rise Despite HSBC Plunge; Dollar, Oil Jump

European stocks rose again with S&P futures higher, while Asian stocks were mixed. The dollar rose jumped on hawkish comments by Philly Fed's Harker, oil rose following optimistic OPEC comments, while gold dropped. Markets have largely ignored results by financial heavyweight HSBC, which posted its largest fall since mid-2015 after reporting a 62% plunge in pretax profit.

Global Stocks Hit 21 Month Highs, Futures Point To New Record Ahead Of Inflation Data

The global "risk on" melt-up continues. After a modestly hawkish Yellen warned that every meeting is live, and refused to take March off the table, sending the dollar and yield higher and the S&P to fresh record highs, world stocks rose hitting a 21-month high on Wednesday with the dollar rising for the 11th straight day, the longest positive streak since July 2015.

Key Events In The Coming Humphrey-Hawkish Week

The key economic releases this week are CPI, retail sales, and industrial production on Wednesday. In addition, there are several scheduled speaking engagements from Fed officials this week, including Chair Yellen’s semi-annual Monetary Policy Report to Congress on Tuesday and Wednesday (Humphrey-Hawkins).

Global Stocks Rise, S&P Futures Make New Record Highs As "Trump Trade" Euphoria Returns

European and Asian stocks, S&P futures, bond yields, the dollar and commodity metals are rose, in some cases making new all time highs, lifted by the latest reemergence of the "Trump trades" as hopeful investors once again bet that the U.S. president's tax reform plans will boost economic growth and corporate profits, despite another warning from Goldman that the president's fiscal plan is about to be derailed.

There Are 66,719 Empty Mansions In Vancouver

Vancouver’s multimillion-dollar homes are not only out of reach for most Vancouverites, they are rapidly becoming a self-contained ghost town, because nothing speaks to the Canadian city’s affordability crisis more than its empty houses acquired by "hot money" laundering Chinese: as of the end of 2016, the number of Vacant or temporarily occupied houses more than doubled since 2001 to a whopping 66,719.

Chinese Banks Begin To Raise Mortgage Rates

In the latest tightening in China's financial conditions, the China Securities Journal reports that some bank branches in Beijing, Guangzhou and Chongqing have raised mortgage rates for first-home buyers recently.