tyb
Pending home sales slide, marking the 16th-straight month of annual declines
All the conditions are right for a stronger housing market, but does that mean it’s ‘inevitable’?
Rates at record lows and the system has exhausted it's potential pool of qualified buyers.
The numbers: Pending home sales fell a seasonally adjusted 1.5% in April and were 2% lower than a year ago, the National Association of Realtors said Thursday. The consensus Econoday forecast was for a 0.5% increase.
What happened: NAR’s index, which tracks home-contract signings, has been volatile, but the trend is solidly downward.
April marked the 16th-straight month of annual declines.
Contract signings precede closings by about 45-60 days, so the pending home-sales index is a leading indicator for upcoming existing-home sales reports.
Only the Midwest saw an increase in April, with a 1.3% uptick. Pending sales were down 1.8% in the Northeast, 2.5% in the South, and 1.8% in the West.
Big picture: Housing seemed to be bouncing back from the rough patch at the end of 2018, but as 2019 winds on, that picture is becoming more blurry. On Tuesday, the widely-followed Case-Shiller index showed home prices had risen at the slowest pace since mid-2012 in March.
What they’re saying: “Real estate agents throughout the U.S. may have to brace for a more sluggish market than anticipated based on last month’s decline in home showing activity, the ninth consecutive month of a nationwide year-over-year decrease,” according to an index from ShowingTime.
But the Realtor lobby group remains upbeat. “It’s inevitable for sales to turn higher in a few months,” NAR Chief Economist Lawrence Yun said.
This is ALWAYS what they say…broken fucking record with this one and the previous "chief economist"-even wrote a book that was released just before the 2007 housing drop that basically said it will continue to rise forever.
https://www.marketwatch.com/story/pending-home-sales-slide-in-april-to-mark-the-16th-straight-month-of-annual-declines-2019-05-30?
want to know what really habbened there too. They denied it ever took place because there is an italian law that says the finanza get to keep a cut of whatever they recover.
the bigger picture anon. 16 straight months of annual decline. This is peak season right now too. If it doesn't habben, sales rising…they won't
ended up on a train there by mistake as I did not get off at main station. when i got out I looked at that specific crossing, this was shortly after that incident, and said NFW did this habben here-the story about the train being boarded etc. They did not check anyone or anything….security was a joke.
Those were real and the japanese freaked and tried to cash them in.
agree on forgery as who the hell could you sell them to? Whoever would buy them would surely do the due diligence.
good luck with that. Take a look around your neighborhood…how many homes for sale and how long have they been for sale?
thanks for playing.
it's all regional and those others failed to understand I did not write the article. The NAR is the ultimate cheerleader and always has been-no matter what the circumstances. This is what the comments were speaking to…not the data. hard for people to read…problem in here for long time.
It is unusual,however in socal it's stagnant and props are falling out of contract because the prices are all way too high to start with. Certainly different in other places.
end of quarter coming, spec positions being taken on. It's all paper anyway from COMEX.
Encouraging though either way. Needs a good solid rise over $1300 to attract volume(s).
Credit Flashes Warning For Stocks As Investor Outflows Soar
remember who this comes from-it's not wrong-see the forest through the trees-credit protection costs have soared over the last few weeks.'
begin
It seems the warnings from PIMCO's Scott Mather that: "We have probably the riskiest credit market that we have ever had" in terms of size, duration, quality and lack of liquidity, Mather said.
Adding that the current situation compares risk to mid-2000s, just before the global financial crisis," are being reflected in pricing and flows.
While stocks have slowly woken up to the realities of the 'recovery', credit-markets have started to flash warnings that all is not well.
Equity markets have not priced in any risk-the drops are a result of the system throwing a fit because of the coming trade deal-they are using it as a ploy to try and scuttle the deal and keep control.
With some concerned that summer 2019 is echoing the risk-off deluge from Q4 2018.
the risk off 'deluge' began on early Oct with Rothy world currency day-biggest one day drop in DOW -800 in years and we are supposed to believe that everyone woke up that day and said "hey let's all sell'' at once-disingenuous BS blaming it on anything else.
"We see it in the build up in corporate leverage, the decline in credit quality, and declining underwriting standards - all this late-cycle credit behavior we began to see in 2005 and 2006." One way of visualizing what Mather was referring to is the following chart of corporate debt to GDP which has never been higher. As for the lack of creditor protections, well, just wait until the screams of fury begin after the next wave of bankruptcies.
And, as Bloomberg reports, traders yanked almost $429 million from State Street Corp.’s SPDR Bloomberg Barclays High Yield Bond ETF on Tuesday, the biggest withdrawal since December.
Considering that the S&P is about a few hundred percent higher than where it would be without central banks "pumping up prices", the market is about to go through a lot of pain in the near future if the world's largest bond manager is correct.
again they are using this as a cause and forget to mention that the system in entirely responsible for putting here in the first place.
https://www.zerohedge.com/news/2019-05-30/credit-flashes-warning-stocks-investor-outflows-soar?
that also a big problem. The way it's reported..as if the two coasts, and a few hundred miles inland are all that matter. make no mistake though it's not a bed of roses as most financial products are tied to home values. Being levered up in the CDo markets with falling home prices-and most issued when extremely overvalues is going to have an impact. Moar so in the places where values are ridiculous.
'dey is. caution on the excitement as qtr is ending.
Kind of a lather, rinse, repeat process.
missing the point of that….
NFW..not giving up and don't encourage others to do that. If you leave there will be no chance to fix it. It needs to be fixed.
GW Pharmaceuticals "PotTV.net"sold $1.26m in shares-May 24th
Cap#1 today, others are recent.
Not much of a summary
https://www.marketscreener.com/GW-PHARMACEUTICALS-PLC-13112125/company/
https://www.secform4.com/insider-trading/1351288.htm
Not in japan per se
https://nationalinterest.org/blog/korea-watch/billions-ground-race-harvest-north-koreas-rare-earth-reserves-50137