Real estate

Tyler Durden's picture

Panic: China Central Bank Steps In To Bailout Stocks As Underwater Traders Pray For A Rebound





On Sunday, the China Securities Regulatory Commission announced that the PBoC is set to inject capital into China Securities Finance Corp which will use the funds to help brokerages expand their businesses and reinvigorate stocks. In other words, the PBoC is now in the business of financing leveraged stock buying.

 
Tyler Durden's picture

China Scrambles to Put Plunge Protection Team Together: Banks Pledge Support For Crashing Market





China has moved in the direction of direct intervention in its flagging equity markets, although it appears Beijing will try to orchestrate a “private” sector (whatever that means in China) solution first before going the nuclear route with the central bank’s balance sheet. As Bloomberg reports, the country’s largest brokerages are teaming up to invest nearly $20 billion in “blue chip” Chinese equities.

 
Tyler Durden's picture

Barack Obama Tells Another Whopper - He Did Not Create 12.8 Million Jobs





America is better off when President Obama is out on the stump bloviating and boasting rather than in Washington actively doing harm. But the whoppers he just told the students at the University of Wisconsin are beyond the pale. Said our spinmeister-in-chief: "And the unemployment rate is now down to 5.3 percent. (Applause.) Keep in mind, when I came into office it was hovering around 10 percent. All told, we’ve now seen 64 straight months of private sector job growth, which is a new record — (applause) — new record — 12.8 million new jobs all told." That’s a pack of context-free factoids.

 
Tyler Durden's picture

Chinese Stocks Plummet Despite Government Threats To Shorts, Europe Lower, US Closed





The Greece impasse set to culminate on Sunday continues to have a massive impact on at least one stock market, unfortunately it is the wrong one, located on a continent which is mostly irrelevant to the future of the Greek people (unless that whole AIIB bailout does take place of course). We are, of course, talking about China which as noted earlier, started off horribly, plunging over 7% with over 1000 stocks hitting 10% limit down, then in the afternoon session mysteriously recovering all losses and even trading slightly higher on the day, before the late selling returned once more, and the Shanghai Composite plunged to close down 5.8%: an unimaginable 20% total roundtrip move!

 
Tyler Durden's picture

Manhattan Apartment Prices Soar To Record On Billionaire Bid





In the latest example of the soaring cost of living in America, Manhattan apartment prices just hit a record, with average sale prices soaring 11% to an astounding $1.87 million in Q2, the highest in the quarter or so century of record keeping.

 
Tyler Durden's picture

Chart Of The Day: Is China Sending A Warning?





"I think China may be more important than Greece. Stick with the drill – stay wary, alert and very, very nimble."

 
Tyler Durden's picture

Case-Shiller US Home Price Index Drops Most In A Year





While the 20-City index rose 4.9% YoY (but missed expectations by the most since July 2014), Case-Shiller's US Home Price Index dropped 0.02% in April - the first MoM drop since May 2014. Of course, all real estate is local and we note Denver and San Francisco reported the highest year-over-year gains with price increases of 10.3% and 10.0%, respectively, over the last 12 months.  As S&P's David Blitzer warns, "home prices continue to rise across the country, but the pace is not accelerating."

 
Tyler Durden's picture

Greece, Democracy, And Magical Thinking





Regardless of what the Greek people choose, at least the choice will be theirs, along with the consequences.

 
Phoenix Capital Research's picture

The Next Round of the Great Crisis Has Just Begun





The next round of the great crisis is here. 2008 was just A Crisis… we've just begun THE Crisis.

 
 
Tyler Durden's picture

The Bush Family Goes "All In" For Number Three (With The Help Of Its Bankers)





It’s happening. As expected, dynastic politics is prevailing in campaign 2016. After a tease about as long as Hillary’s, Jeb Bush (aka Jeb!) officially announced his presidential bid last week. Ultimately, the two of them will fight it out for the White House, while the nation’s wealthiest influencers will back their ludicrously expensive gambit. And here’s a hint: don’t bet on Jeb not to make it through the Republican gauntlet of 12 candidates (so far). After all, the really big money’s behind him.

 
Tyler Durden's picture

Why Banks Rob Depositors: "Because That's Where the Money Is"





One of America's most notorious bank robbers, Willie Sutton (1901-80), is said to have remarked that he robbed banks "because that's where the money is." In a strange twist, the banks themselves are now beginning literally to rob their own customers.

 
Tyler Durden's picture

What Would Happen In Case Of Grexit?





An extensive look at what would happen if Greece were to leave the Eurozone, through a legal fudge.

 
Tyler Durden's picture

Deutsche Bank CEO May Have Lied To Bundesbank About Rate Rigging, BaFin Says





Germany’s financial regulator says departing Deutsche Bank co-CEO Anshu Jain may have lied to the Bundesbank about LIBOR manipulation when he apparently denied having any knowledge of rumors that the fixes may have been fixed (so to speak) even as his inbox told a different story.

 
Tyler Durden's picture

China Plunges Most Since 2007, Points Away From Bear Market; Greek Drama Continues





Following yesterday's furious market drop in Chinese stocks, just before the overnight open, Morgan Stanley came out with a much distributed report urging investors "Not to buy this dip", and so they didn't. As a result, the Shanghai Composite imploded, at one point trading down 8% while the Chinext and Shenzhen markets crashed even more. This was the single biggest Shanghai Composite one-day drop since 2007, and with a close at 4192.87 the SHCOMP is now on the verge of a bear market, down 19% from its June 12 highs. China's second largest market, Shenzhen, is now officially in a bear market.

 
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