One of you had to be adopted!My socialist/ communist older brother has spent most of his life living at home. My parents didn't do him any favors. One summer, my folks decided to tour the USA in their 5th wheel. My brother thought it would be okay to revert the yard back to a native prairie while they were away, ie not mow the lawn. Parents were pissed when they pulled in the driveway!
Based on my parents philosophies, I had to of been adopted!One of you had to be adopted!
People lie on housing application all the time. The author makes a claim and doesn’t back it up with anything other than “fraud is rampant”. Below is the chart. We are not in the same area as 2005-06. Also, defaults happen and the are accounted for by the loan being adequately cushioned by the house value. Again, we are no where near 2005-06 levels. Claims of “bubbles” are getting old along with complaining about the government role. The GSEs were private entities in the last housing bubble and the FHA number in the chart is obviously the most stable. Prices today may be inflated, but this isn’t like 2006.Good article.
The Housing Market Is a Bubble Full of Fraud, and It’s Going To Pop
The U.S. is in a massive housing bubble fueled by widespread fraud. With banks incentivized to look away and Wall Street and Washington incentivized to keep housing prices artificially high, a bottom-up approach is the only hope for bringing sanity back to the housing market.www.strongtowns.org
Wow, you must have great Thanksgiving dinnersMy socialist/ communist older brother has spent most of his life living at home. My parents didn't do him any favors. One summer, my folks decided to tour the USA in their 5th wheel. My brother thought it would be okay to revert the yard back to a native prairie while they were away, ie not mow the lawn. Parents were pissed when they pulled in the driveway!
I was reading that article as you posted it. I agree these numbers will come down, probably by a lot. When they printed I said there was no way we were creating that many jobs. The household survey employment data has sucked for years. I just ask myself if the downward revision matters to the market? The number I focus on is the weekly new unemployment claims. It’s hard data, not a survey. It certainly doesn’t show recession. Softening maybe. We will see tomorrow. I think the market will be focused on Jackson Hole.Hard to not be skeptical about all of the numbers…….
Fed confronts up to a million US jobs vanishing in revision
(Bloomberg) -- US job growth in the year through March was likely far less robust than initially estimated, which risks fueling concerns that the Federal Reserve is falling further behind the curve to lower interest rates. Most Read from BloombergA Floating Island in Baltimore Raises Hope for a...finance.yahoo.com
Household Debt and Credit Report
Unique data and insight into the credit conditions and activity of U.S. householdswww.newyorkfed.org
That is a big-numbers-are-scary chart. Here is how to look at it.
montanafreepress.org
Missoula City Council approves 17% tax increase
Owner of a median-valued home will pay an additional $320 annually.
This.
apnews.com
apnews.com
It's all about jobs now. I wouldn't call the Fed Funds at 5.25% "historically low". It is high enough to be tight in this environment. It will be interesting to watch how they realign the interest rate curve, or how the market does, as they cut. 10yr yield sub-4% might be considered historically low and may not look as attractive to buyers. It should go up little, but we will see.
A pool of cash might look for a better return…
Money is always looking for a better return, but the question is what? Equities are near all-time highs and trading at 21-22x forward earnings. Tough call if we are in a softening labor market. If it all goes well, we get lower GDP growth. Only thing for sure is that social media will point out people complaining about whatever happens.
Because in the feds eyes, inflation has softened.
