• BullionStar
    05/30/2016 - 21:24
    The US Gold Market is best known as the home of gold futures trading on the COMEX in New York. The COMEX has a literal monopoly on gold futures trading volumes worldwide, but very little physical...

Housing Prices

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Losing Ground In Flyover America, Part 3





The Fed’s crusade to pump-up inflation toward its 2.00% target by hammering-down interest rates to the so-called zero bound is economically lethal. The former destroys the purchasing power of main street wages while the latter strip mines capital from business and channels it into Wall Street financial engineering and the inflation of stock prices.

 
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'Father Of Modern Finance' Warns "Central Banking Is Like Pornography - Not The Real Thing"





"Everyday we read headlines on what the central banks are doing. But their policies don’t have any effect. They are just like treading water. All the central banks are doing is substituting one form of debt with another form of debt... I think it means the business of central banks is like pornography: It’s not the real thing."

 
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Here Are The Highest Paying Companies In America... At The Moment





Just as we cautioned those who saw the best cities for jobs data, we again warn everyone who reviews the highest paying companies data that now may not be the best time to pick up and head out to the West Coast in hopes of landing that dream tech job.

 
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Riksbank Says It's Time To Prepare For Helicopter Money





it will not be possible, in the future, to conduct monetary policy in the way and with the impact we have previously been accustomed to. And this is something for which we need to prepare ourselves. She notes that, alongside cutting the policy rate to below zero and purchasing securities, so-called helicopter money could provide a hypothetical path to take to increase scope for monetary policy.

 
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China's Housing Bubble Is So Big, Goldman Will "Need A Bigger Chart"





With almost 30% price inflation for China's Tier 1 home prices, Goldman will need a bigger chart very soon...

 
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Dear Homeowner, What Exactly Do You "Own"?





If we understand property taxes as a lease from the local government for the right to gamble on another housing bubble arising, we see "ownership" in a different light. As the saying goes, buyer beware, especially if there's no limit on how high desperate local governments can jack up their lease fees, i.e. property taxes.

 
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"The Insanity, It Seems, Is Not Over" - Vancouver Home Prices Are Now Literally "Off The Chart"





Today we step back from the micro to look at the bigger Vancouver real estate picture. What we find is that"the insanity, it seems, is not over." Indeed, as the chart below shows, BMO really needs a bigger chart, as the growth in Vancouver home prices is now quite literally "off the chart."

 
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A Manhattan "Pool In The Sky" - For The Billionaire Who Has Everything Else





If you have a lot of disposable cash, and a desire to go swimming 28 storeys above the Manhattan streets in a pool connecting two buildings, you're in luck.

 
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George Soros Warns "China Resembles US In 2008", Hard Landing "Practically Unavoidable"





China's massive credit growth in March (and $1 trillion surge in total social financing in Q1) is a "warning sign" according to billionaire George Soros, "because it shows how much work is needed to stop the slowdown." Speaking at an event in new York this evening, Soros commented on "troubling developments" in China, the anti-corruption drive's impact on capital outflows and the real-estate bubble "feeding on itself." His conclusion, rather ominously, was that despite all the naysayers and fiction-peddlers, China "resembles US in 2007-8," before credit markets seized up and spurred a global recession.

 
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Bank Of America Reveals "The Next Big Trade"





Markets have stopped focusing on what central banks are doing and are "positioning for what they believe central banks may or may not do," according to BofA's Athanasios Vamvakidis as he tells FX traders to "prepare to fight the central banks," as the market reaction to central bank policies this year reflects transition to a new regime, in which investors start speculating which central bank will have to give up easing policies first.

 
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BofA Notices Something Troubling: China's Debt Bubble Has Burst





We have noticed a sharp jump since mid-2015 in the total value of reported defaults of shadow banking products, defined here as non-bank-loan debt instruments that include bonds, trusts, and credit products offered by peer-to-peer (P2P) and various offline wealth management companies (WMCs).... The question is whether the government is closing the stable door after the horse has bolted. We suspect that the answer is yes.

 
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On Goldman's "Dubious Advice To Short Gold”





Those betting against Goldman Sach’s retail investment advice have generally been on the right side of things. The same thing is about to happen again. “Short gold! Sell gold!” said Goldman’s head commodity trader, Jeff Currie, during a CNBC “Power Lunch” interview. Currie’s advice was in response to the question “Is there any commodity you are recommending that can help our viewers make some money?” Currie’s provided several reasons for shorting gold, blatantly wrong.

 
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China's Latest Problem: Surging Subprime-Housing Loans





Government efforts to tackle a glut of vacant housing in China by spurring home lending have triggered a bigger problem: a surge in risky subprime-style loans that is generating alarm. Home buyers in China normally put down a third of the cost of a new property upfront. But a rapid rise in buyers borrowing for their down payments—an echo of the easy credit that cratered the U.S. housing market and sparked the financial crisis—has led authorities to clamp down

 
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