Housing Prices

Tyler Durden's picture

Guest Post: Has There Ever Been A More Selfish Generation?





Because we squandered our opportunity to correct our own problems, our problems shall be our legacy. It’s wretched how dumb we are in our greed to have everything right now in the cheapest way possible and how willing we are to force the debts of that consumption upon our grandchildren and to pretend that won’t hurt them. We live in economic denial.

 
Tyler Durden's picture

Something Crazy Is Going On In Swedish Money Markets





It appears Swedish banks are falling over themselves to get rid of excess cash. We noted Swedish banks refusing to open bank accounts in September, and warned in October of a "giant wave of money" heading into Sweden thanks to the Riksbank-ECB policy divergence, and now, Swedish banks are paying each other to take cash off their balance sheets into year-end, as 1-week STIBOR crashes to -1.792%.

 
ilene's picture

Sticker Shock: Fed to Hike Rates First Time in NINE Years!





China did everything it could to prevent a collapse and it still happened.  How do you think other countries will do?

 
Tyler Durden's picture

Why This Sucker Is Going Down... Again





So how do you grow household wealth by $18 trillion in the face of these dismal real world trends? In a word, with a printing press. But what happened today is that Draghi showed he is out of tricks and Yellen confessed she is out of excuses. Yes, this sucker is going down. And this time all the misguided economics professors turned central bankers in the world will be powerless to reverse the plunge.

 
Tyler Durden's picture

Housing Bubble 2.0 Exposed (In 1 Simple Chart)





The gap between real house prices and real earnings is even wider than it was in Housing Bubble 1. History (and common sense) suggest that housing prices will once again fall sharply until the black line of house prices is well below the red line of real earnings. To expect anything different is unrealistic and highly dangerous to one's financial well-being.

 
Tyler Durden's picture

Why Do So Many Young Adults Live At Home? Record 34.5% Of California Millennials Live With Parents





There is ample evidence suggesting that Millennials simply do not want the same things as their Taco Tuesday baby boomer parents. And many simply don’t want the McMansion aspiration since many are going to have small families. This is an interesting shift. Boomers are trying to off load larger crap shacks to an audience that is more interested in smaller more centrally accessible properties.

 
Tyler Durden's picture

China's Manufacturing Misses; Nonmanufacturing Worst Since 2008 Despite Unprecedented $1 Trillion "Debt Injection"





The most anticipated economic release over the weekend was the early glimpse into China's manufacturing and non-manufacturing sectors via the two key PMI surveys released by China's National Bureau of Statistics, to get a sense if the slowdown across China is stabilizing or, as some have suggested, rebounding. It did not: overnight the NBS reported that the manufacturing PMI remained unchanged in October at 49.8 missing consensus estimates of a modest rebound to 50.0, its third consecutive month in contraction territory.

 
Tyler Durden's picture

Dear Janet, Seriously!!





The Fed's confidence trick this week was, once again, the Keyser Soze gambit (via Beaudelaire)-  "convincing the world of Yellen's hawkishness, when no such character trait exists." However, unlike the movies, stocks and FX markets have already seen through the con, leaving Fed Funds futures alone to believe the hype. As we noted previously, "The Fed Can't Raise Rates, But Must Pretend It Will," repeating its pre-meeting hawkishness to dovishness swing time and again in a "Groundhog Day" meets "Waiting For Godot"-like manner. Time is running out Janet, tick tock...

 
Tyler Durden's picture

The Housing Bubble Is Biggest In These Cities





"House prices have decoupled most from local incomes in Hong Kong, London, Paris, Singapore, New York and Tokyo. Buying a 60-square-meter apartment exceeds the budget of most people who work even in the highly-skilled service sector. Loose monetary policy has prevented a normalization of housing markets and encouraged local bubble risks to grow"

 
GoldCore's picture

London Property Bubble Set To Burst - UBS and Deutsche Warn





A bursting of property bubbles in London and New York would be expected to have an impact on national economies and indeed on national property markets. Sentiment would be badly impacted. Caution should be the order of the day.

 
Tyler Durden's picture

World's Largest Sovereign Wealth Fund Has Worst Quarter In 4 Years After Losing 21% On Chinese Stocks





Norway's $860 billion sovereign wealth fund (tasked with managing the country's vast oil wealth) just had its worst quarter in 4 years and its first back-to-back quarterly loss since 2009 after an array of EM bets went awry. Meanwhile, the government is set to start making withdraws from the fund as slumping crude prices have effectively reduced inflows to zero. 

 
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