Housing Prices

China Housing Bubble Finally Pops: First Slowdown After 19 Months Of Acceleration

Today we got the first confirmation that the latest Chinese housing bubble has finally popped, as housing prices across the 70 cities were up 12.7% Y/Y, below the 12.9% annual growth rate in November. This was the first moderation in year-over-year housing price growth after 19 months of continued acceleration.

Do Central Bankers Know A Bubble When They See One?

In spite of being exposed in what is either a self-exculpating lie (the claim that bubbles can only be seen after they burst) or a sign of gross incompetence (the failure to see two of the largest financial bubbles in history), no Fed official has ever been asked to explain or rationalize the Fed’s contradictory positions on bubbles.

Chinese Home Prices Surge Most On Record, Ignore "Cooling" Measures

Average new-home prices in the 70 cities tracked surged by 1.8% in September from the month prior. On an annual basis, housing prices soared 11.2% year over year, after a 9.2% jump in August. This was the biggest annual jump on record, and the 12th consecutive month in year-over-year gains.

Trump's Right - Morgan Stanley Warns "Big, Fat, Ugly Bubble" Is "An Illusion" Driven By The Fed

"In a looping debate rant, Mr. Trump argued that an increasingly “political” Fed is holding interest rates low to help Democrats in November, driving up a “big, fat, ugly bubble” that will pop when the central bank raises rates. This riff has some truth to it... The stock market should be a barometer of the economy, but in practice it has become a barometer of Fed policy."

Chinese Loan Demand Drops To All Time Low

Amid China's accelerating economic slowdown, the country's overall index of loan demand was at 55.7 in the third quarter, the lowest since the People’s Bank of China started to compile the data in 2004.

A Homerun For The Donald - Attack The Fed's War On Savers, Workers And The Unborn (Taxpayers)

"Indeed, the Fed is waging an insensible and outrageous war on savers, workers and future taxpayers - even as it pleasures the 1% with fantastic financial windfalls from the Wall Street casino. Now that is a rigged system. And that is a beltway evil that merits the Donald’s unrelenting attack on behalf of the citizens of Flyover America who have been left behind in their tens of millions."

Time To Get Real, Part 2: "We Need Their Drugs"

On the current path, the world is experiencing the largest artificial asset allocation in modern history, one that is driven by a misguided interest rate regime that has lost its efficacy and is producing more harm than good. Yet the fear of withdrawal pain is keeping central bankers from doing the inevitable: Quit. The response is predictable: "I need the drugs!"

Vancouver Home Sales Crash 23% In One Month As Prices Tumble

Confirming anecdotal evidence that the Vancouver housing bubble has burst, according to yesterday's real estate board data, Vancouver home sales fell 26% from a year earlier and 23% from July. The average price of a detached property declined 17% on the month, the lowest since September 2015. And this is just the beginning.