• Marc To Market
    09/23/2014 - 11:39
    Is the Great Republic been on the verge of fragmenting as classic political philosphy said was the fate of all large republics?   
  • williambanzai7
    09/23/2014 - 11:10
    Some of you were no doubt aware that the latest round of Nobel Laureate ballistic mayhem commenced on the day after September 21: The International Day of Peace!

Housing Market

Tyler Durden's picture

Frontrunning: June 16





  • Iraq Army Tries to Roll Back Sunni Militants’ Advance (BBG)
  • Starbucks to Subsidize Workers' Online Degrees (WSJ)
  • ‘Bitcoin Jesus’ Calls Rich to Tax-Free Tropical Paradise (BBG)
  • Medtronic Is Biggest Firm Yet to Renounce U.S. Tax Status (BBG), Medtronic to buy Covidien for $42.9 billion, rebase in Ireland (Reuters)
  • Oil Topping $116 Seen Possible as Iraq Conflict Widens (BBG)
  • Putin Seeks Paris Landmark as Hollande’s Russia Ties Defy Obama (BBG)
  • GM Says It Has a Shield From Some Liability (WSJ)
  • BOJ’s Bond Paralysis Seen Spreading Across Markets (BBG)
 
Tyler Durden's picture

Stocks Fail To Soar Despite Global Geopolitical Risk Contagion





It's one of those days: despite the Iraq conflict spilling out of control and about to involve US drones and warplanes, despite China's naval conflict with Vietnam over an oil rig in disputed territory set to go "kinetic" at any moment, despite the Ukraine civil war having its deadliest day yet this weekend and adding insult to injury Russia halting gas supplies to Ukraine (letting Kiev and Berlin fight for the scraps), despite crude prices rising ever higher and about to unleash a "discretionary income" shockwave on America's summertime motorists, despite yet another massive tax inversion M&A deal in which the buyer has made abundantly clear its stock is overvalued and will be used as the purchasing currency, stocks are inexplicably not at all time highs this morning.

 
Tyler Durden's picture

The Generational Short: Banks, Wall Street, Housing And Luxury Retail Are Doomed





Those who have lost trust in Wall Street or actively hate it and everything it stands for (neofeudalism, unbridled greed, the corruption and collusion of the revolving door between the state and Wall Street, etc.) will never change their minds and hand their money to Wall Street to play with. If the primary assets held by Boomers (houses and stocks) both decline for these fundamental reasons, there may be relatively little wealth left to pass on to Gen-Y... if Gen-Y avoids bank debt/mortgages, buying conspicuous consumption luxury goods on credit and investing in Wall Street's scams and skims, this generational lack of demand for housing, stocks and luxury goods will effectively crash the sky-high valuations of these assets. These factors suggest a generational bet against banks, Wall Street, housing and luxury retail stocks.

 
Tyler Durden's picture

CEOs Warn Q2 "Less Robust" Than Expected





"[W]e’re concerned about the retail demand environment, and a little less bullish than earlier in the year due to a slower housing market, some inconsistency at retail, and an economy that’s not quite as robust as expected," is how one CEO sums up Q2 so far and as Bloomberg's Rich Yamarone notes, the CEO Economic Sentiment Index remains mired at the lows of the year with no Q2 bounce whatsoever (despite hopes for all that pent-up demand). Retailers continue to complain of a highly promotional environment amid deteriorating traffic; and with the index at 49.1 (below the key 50 - expansion - level) it appears the hope of a Q2 bounce is a little premature.

 
Tyler Durden's picture

Frontrunning: June 13





  • Tea Party struggles to repeat Cantor-style shock in Tennessee (Reuters)
  • Iran Deploys Forces to Fight al Qaeda-Inspired Militants in Iraq (WSJ)
  • Oil Rallies as Militant Advance in Iraq Threatens Crude (BBG)
  • Gold Set for First Back-to-Back Weekly Gain Since April (BBG)
  • Hedge Funds Get Stung by Slow Markets (WSJ)
  • Sterling nears 5-year high after Carney speech (FT)
  • Britain Warns Boom in Real-Estate Prices Threatens Economy (WSJ)
  • East Europe Leaders Urge EU Unity to Counter Russia (BBG)
  • Formula One Said to Be Valued at $8 Billion as Malone Seeks Stake (BBG)
  • Dumb and dumber: Abe Plans Company Tax Cut in 2015 as Kuroda Warns on Budget (BBG)
 
Tyler Durden's picture

Another Housing Red Light: Furniture Spending Negative For The First Time Since 2012





As we showed a week ago, it is not just the coincident housing signals confirming that the latest artificial bounce has faded, but both upstream and downstream indicators. Specifically, we showed that lumber prices - that one component so critical in the building of new homes and a traditional leading indicator - have cratered. That's the upstream indicator. As for the downstream, we go to Bank of America which finds that not only has home improvement store spending declined substantially since the dead housing bounce peak last summer, but that furniture spending according to BofA estimates, is now once again negative: the first such drop since early 2012.

 
Tyler Durden's picture

The US Housing Market's Darkening Data





When looking at residential real estate, we often tend to focus almost solely on recent price movements in assessing the health of the housing market at any point in time. But as both homeowners and income-earners in the larger economy, of which the housing market is an important component, to really understand what's going on, we need clarity into the larger cycle driving those price movements. The more we look at today's data, the more it looks like that we are in a new type of pricing cycle -- one that homeowners and housing investors have no prior experience with. And the more we learn about the fundamentals underlying the current cycle, the harder it becomes to justify today's home prices on any sustained level. Meaning a downward reversion in home values is very probable in the coming years.

 
Tyler Durden's picture

UK May Home Prices Surge By Most Since 2002





Two weeks ago we asked, rhetorically, "Whose Housing Bubble Is Bigger?" and showed the April home price increases in the UK and China.  Today, we have our answer. As the WSJ reports, "U.K. house prices rose at the fastest monthly pace in almost 12 years and to the highest level since before the global credit crisis in May, a survey showed Thursday, as demand for homes continues to outpace supply despite tougher new mortgage rules."

 
Tyler Durden's picture

Frontrunning: June 5





  • Inside the White House's decision to free Bergdahl (Reuters)
  • Dimon’s Raise Haunts BNP Paribas as U.S. Weighs $10 Billion Fine (BBG)
  • Jobs Are on the Line as Banks' Revenue Slides (WSJ)
  • Wall Street Adjusts to the New Trading Normal (WSJ)
  • Nothing like objective, intense probes: GM recall probe to clear senior execs, finds no concerted coverup (Reuters)
  • ECB ready to cut rates and push banks into lending to boost euro zone economy (Reuters)
  • China Should Resist Further Stimulus, IMF Says (BBG)
  • Carney Finds Ally in Draghi as Key Rate Kept at 0.5% (BBG)
  • Assad wins Syria election with 88.7 percent of votes (Reuters)
 
Tyler Durden's picture

7 In 10 Americans Believe The Crisis Is Not Over Or Worst Is Yet To Come: 52% Can't Afford Their Homes





According to a recent survey by the MacArthur foundation, during the past three years, over half of all U.S. adults (52%) have had to make at least one sacrifice in order to cover their rent or mortgage. Such sacrifices included getting an additional job, deferring saving for retirement, cutting back on health care and healthy foods, running up credit card debt, or moving to a less safe neighborhood or one with worse schools. More disturbingly, the survey also found that while there are some indicators that the American public’s views about the housing crisis are shifting toward the positive, large proportions of the public are not feeling the relief: seven in 10 (70%) believe we are still in the middle of the crisis or that the worst is yet to come. 

 
testosteronepit's picture

Real Economy Bites Housing Bubble 2





Month after month, they came up with new excuses. Now they’ve used up all the good ones, but sales are still tanking.

 
Tyler Durden's picture

Frontrunning: June 4





  • U.S. sets new import duties on Chinese solar products (Reuters)
  • U.S.-China Solar-Products Dispute Heats Up (WSJ)
  • China Mulls Offshore Yuan Gold Trade in Free Trade Zone (BBG)
  • Insider-Trading Probe Could Snarl a Deal for Icahn (WSJ)
  • KCG Holdings Suspects Its Trading Code Was Stolen (WSJ)
  • ‘Period. Full Stop’ Is the New ‘At the End of the Day’ (BBG)
  • Draghi not so goof for bonds: Investors Flag Risk of ECB Disappointing After Europe Bond Rally (BBG)
  • But great for stocks: Equity Traders See Draghi Turning Throttle Up on Rally (BBG)
 
EconMatters's picture

What To Expect From June's Major Economic & Central Bank Events





The interesting part is how the Econ Data and Central Bank events for the next three weeks all directly affect the next event, and how the market digests all these events as a whole.

 
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