tyb and nice snipe
Home flipping rate hits 9-year high — and that could foretell troubles in the housing market
An uptick in home flipping activity could indicate that conditions in the housing market are worsening.
The share of homes sold in the first quarter that were flips was the largest it’s been in nearly a decade.
Home-flipping has rebounded by one key measure. But that’s doesn’t make it an easy path toward becoming rich.
Just over 49,000 single-family homes and condos were flipped in the first quarter of 2019, according to a recent report by real-estate data firm Attom Data Solutions. These homes comprised 7.2% of all home sales nationwide during that time period, representing the highest home-flipping rate since the first quarter of 2010.
But that’s not necessarily a positive indicator of the housing market’s strength, said Todd Teta, Attom’s chief product officer. The number of homes that were flipped was actually down 8% from the previous year to a three-year low. And the number of investors engaging in home flipping has dropped 11% over the past year.
In the first quarter, homes flipped sold for a median price of $215,000. With the median purchase price standing at $155,000, the gross flipping profit was just $60,000, down $8,000 from a year earlier to a three-year low.
While the home flipping rate is increasing, gross profits and ROI are starting to weaken,” Teta said in the report. “If investors are seeing profit margins drop, they may be acting now and selling before price increases drop even more.”
Researchers previously described home-flipping activity as a “canary in the coal mine” that could presage a cooling housing market.
In the first quarter, the home-flipping rate was up year-over-year in 62% of markets nationwide, suggesting that this sentiment could be widespread and not just concentrated in overheated housing markets across the West Coast.
Despite the seemingly turning tides in the home-flipping market, one bright spot is the renewed interest that so-called ‘iBuyers,” tech firms that use algorithms to make instant home offers, have taken in the businesses. Zillow in particular, has said it is investing more money into its home-buying and flipping operation, Zillow Offers, which launched last year. Analysts and stock investors have thus far been receptive of the strategy.
https://www.marketwatch.com/story/home-flipping-rate-hits-9-year-high-and-that-could-foretell-troubles-in-the-housing-market-2019-06-07
that has been in the back of my mind for weeks, don't use it much as I hate it's interface but use it to verify if questions on other site. glad someone else mentioned it
and all of it redacted, not even common words or sentence portions. wonder if that ties israel and brazil together empirically, in the fuckery department of course
CrowdStrike stock nearly doubles after IPO, CEO compares security company to Salesforce and ServiceNow
IPO raises at least $610 million at valuation nearing $7 billion
CrowdStrike Holdings Inc. shares soared nearly 100% at times in their trading debut Wednesday, and the chief executive compared the cybersecurity company to cloud-software giants like Salesforce.com Inc. and ServiceNow Inc. while watching the stock’s huge first-day pop.
CrowdStrike CRWD, priced an initial public offering Tuesday evening at $34, higher than the expected range. CrowdStrike sold at least 18 million shares at that price to raise more than $610 million at an initial valuation of about $6.7 billion. Underwriters — led by Goldman Sachs, JP Morgan, BofA Merrill Lynch and Barclays — had access to another 2.7 million shares, which could push the total raised to more than $700 million.
Shares gained as much as 97% in Wednesday’s session, though they pulled back to trade lower than the opening price of $63.50. The stock closed up 71% from its IPO price.
https://www.marketwatch.com/story/crowdstrike-stock-jumps-as-software-ipo-frenzy-continues-2019-06-12
they all did I'm sure as in the other bloated pieces of shit pushed out in the last few weeks.Uber, Lyft, Chewy ( the newest pets.com).
This what is coming up:https://www.nasdaq.com/markets/ipos/activity.aspx?tab=upcoming
Chewy was yesterday
Banker Frank Quattrone Steps Down
Frank Quattrone, for decades one of the leading investment bankers in Silicon Valley, is stepping down as CEO of Qatalyst Group, the San Francisco firm he founded eight years ago. Quattrone, 60, becomes executive chairman of the firm, which focuses on mergers and acquisitions for technology companies. He is succeeded by his longtime lieutenant going back three firms and more than two decades, George Boutros, who is 55.
Dating to their days at Morgan Stanley in the early 1990s, Quattrone has been the public face of a tight-knit banking team and Boutros has been the sharp-elbowed M&A banker, often representing sellers and famously driving up prices for his clients. Quattrone says he’ll retain a hand in Qatalyst’s strategy while spending more time as a client-focused banker. Boutros will assume management of the firm.
Qatalyst began in the midst of the financial crisis of 2008, months before the fall of Lehman Brothers. It represented a return to prominence for Quattrone, who the previous year had concluded a long-running federal obstruction of justice case against him. Prosecutors ultimately dropped the charges they had pursued. (The banker today advises the Quattrone Center for the Fair Administration of Justice at the law school of the University of Pennsylvania, his alma mater.) The firm began with three employees and has 53 today. Quattrone says it has advised on more than 90 transactions totaling more than $165 billion in value, including 42 deals valued at $1 billion or more.
Boutique investment banks focused on Silicon Valley have mostly gone away over the years, while national boutiques including Evercore, Greenhill, and Moelis have thrived. In an interview, Quattrone says Qatalyst has succeeded by aiming high, targeting the types of deals tech-banking leaders Morgan Stanley and Goldman Sachs pursue, rather than going downmarket for small deals. Qatalyst’s old-school advisory focus also has served it well, he says. “There’s been a backlash against conflicts of interest at big banks that has worked in our favor.”
Frank Quattrone hands tech bank CEO reins to George Boutros
https://www.usatoday.com/story/tech/news/2016/01/27/frank-quattrone-hands-leadership-of-qatalyst-partners-to-george-boutros/79377760/
http://fortune.com/2016/01/27/frank-quattrone-qatalyst/
you will probably pay a huge premium on those if any of them are willing to take the long side, most won't
Crowdstrike IPO
Goldman Sachs, JPMorgan, BofA Merrill Lynch and Barclays are lead underwriters on the deal with another 13 banks acting as co-managers.
https://www.marketwatch.com/story/cloud-security-company-crowdstrike-to-offer-18-million-shares-in-ipo-priced-at-19-to-23-each-2019-05-29
Foxconn Says Prepared to Move Apple Production Out of China if Necessary
HONG KONG— Foxconn Technology 2354 0.32% Group said it is ready to shift production for Apple Inc. AAPL -0.73% out of China if necessary, as the electronics assembler tried to assuage investors’ concerns over the U.S.-China trade conflict.
In the company’s first-ever investor meeting and conference call since going public in 1991, senior executives at Taiwan-based Foxconn sought to address investor uncertainty as it prepares for a leadership transition.
Tuesday’s events were aimed at outlining a succession plan for when Terry Gou, Foxconn’s founder, stands down as chairman to focus on his campaign for Taiwan’s presidency. Much of the discussion, however, centered on the worsening trade dispute between China and the U.S. and the impact tariffs might have on the core of Foxconn’s business—assembling iPhones and iPads for Apple, mostly in China.
“We are totally capable of dealing with Apple’s needs to move production lines if they have any,” said Young-Way Liu, the head of Foxconn’s semiconductor business group, said during the meeting at the company’s headquarters outside Taipei.
Mr. Liu said Foxconn’s manufacturing capacity outside of China is sufficient to supply Apple and other customers with products for the U.S. market and that production could be expanded at factories globally “according to the needs of our clients.”
Foxconn has plants in Brazil, Mexico, Japan, Vietnam, Indonesia, the Czech Republic, the U.S. and Australia among other countries, according to the investor presentation.
https://www.wsj.com/articles/iphone-assembler-foxconn-brushes-off-risks-of-u-s-china-trade-tensions-11560244585
looks like the are starting to
and the 666th post no less, good work anon
thought that too but now think he was set-up to heighten racial tensions