Monday Morning Real Estate Reading

Housing Monday Morning Real Estate Reading

Real Estate News: Ultra-Luxury Market Shows Strong Gains – WSJ

Quadruple Dip: Housing Relapses As “March Is Turning Out To Be The Weakest Month Since Last October Re: Buyer interest” – Zero Hedge

Principal writedowns of the day, mortgage edition – Felix Salmon

Pending Home Sales, Permits, Starts & Completions - TBP

I am stumped by the ongoing insistence that a turnaround in Housing is upon us. It simply is not in the data, as we saw sales of new homes fell 1.6%, plus or minus 23.9% (LOL).

Every Single Housing Datapoint From This Week Was A Miss – Business Insider

Let’s run through it all real quick:

  • Monday: Homebuilder sentiment missed, coming in at 28 vs. expectations of 30.
  • On Tuesday, housing starts came in just below expectations.
  • On Wednesday, mortgage applications for teh week fell 7.4%. Also existing home sales came in at an annualized pace of 4.59 million, vs. expectations of 4.61 million.
  • On Thursday, the FHFA house price index showed no gain vs. expectations of 0.%. Last month was revised from a 0.7% gain to just 0.1%.
  • And then today we got New Homes Sales of just 313K vs. expectations of 325K. Also today, the major homebuilder KB Homes reported a big miss, and the stock is getting crushed.

So yeah… this was not the week for confirmation of your housing recovery thesis.

Economy

How Apple is propping up the stock market – Ezra Klein

Groundhog Day – California budget deficits pop up once again. - Dr. Housing Bubble

The Rich Get Even Richer – NY Times

The Wall Street multibillion scandal no one is talking about – CNN (LIBOR)

Misc.

No Country For Thin Men: 75% Of Americans To Be Obese By 2020 – Zero Hedge

The War Against Youth – Esquire

The recession didn’t gut the prospects of American young people. The Baby Boomers took care of that.

Early exposure to germs has lasting benefits – Nature

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Greg Fielding

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Real Estate Agent

925-212-2908

gregpfielding@gmail.com

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http://gregfielding.com

J. Rockcliff Realtors

15 Railroad Avenue

Danville, CA 94526

DRE #:01397948

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About Greg Fielding

I am a longtime real estate agent who has pretty much seen it all during the housing boom as bust. With experience in selling high-end property and low-end foreclosures, raw land, short sales, development work, apartment buildings, and working with investors, I bring a well-rounded perspective to my work.I also have started to do some paid real estate consulting. If you have questions or just need some good real estate advice, book an appointment at http://whattodorealestate.com/In addition to selling real estate, my insights have been featured in The New York Times, The Big Picture, and regularly on Patrick.net. I have also done consulting work with ForeclosureRadar.Starting my career, in 2003, I have sold homes throughout Alameda and Contra Costa counties, specializing in Danville, Alamo, Blackhawk, San Ramon, Dublin, Pleasanton, Walnut Creek, Lafayette, and Orinda. I live in Danville with my three kids.


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