fbpx

median new home price

Downward Home Prices In The Downturn, Too

By |2019-10-24T19:03:26-04:00October 24th, 2019|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The Census Bureau reported today New Home Sales remained at a better than 700k SAAR in September following the big jump over the previous few months. Though the number was slightly lower last month than the month before, it wasn’t meaningfully less. As discussed yesterday, while that might seem the Fed’s rate cut psychology combined with the bond market’s pessimism [...]

Macro Housing: Bargains and Discounts Appear

By |2019-10-23T16:57:47-04:00October 23rd, 2019|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

While things go wrong for Jay Powell in repo, they are going right in housing. Sort of. It’s more than cliché that the real estate sector is interest rate sensitive. It surely is, and much of the Fed’s monetary policy figuratively banks on it. When policymakers talk about interest rate stimulus, they largely mean the mortgage space. Homebuilders, at least, [...]

New Home Prices Drop Sharply For 2nd Month

By |2018-07-25T16:07:30-04:00July 25th, 2018|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

It’s not any stretch to write that the real estate market has hit a soft patch. Resales are down if only a little as are construction indications (permits and starts). These do not indicate that the housing market is in trouble, just that it isn’t so great underneath the unattached boom commentary. To begin suggesting something more concerning than all [...]

Pseudo Recovery

By |2016-04-25T17:19:32-04:00April 25th, 2016|Economy, Federal Reserve/Monetary Policy, Markets|

There has always been something off about the housing rebound from the depths of the crash. It was, of course, aided in good part by various QE’s that had the effect of skewing marginal benefits of the housing recovery to “investors” and especially institutional investors with the best, cheapest access to credit. From a cycle perspective, the great bubble ended [...]

Go to Top