by Tyler Durden Pre-foreclosures are spiking in New York City according to a new PropertyShark analysis. On a quarter over quarter basis, they are up an astounding 31%. Analysis for New York indicated that the city saw 3,070 properties entering pre-foreclosure for the first time in Q2. According to the report, foreclosures are likely to increase in […]
Guest post by Ted Malloch, author of Davos, Aspen and Yale The Federal Reserve Bank of St Louis just released this single snapshot of economic performance over the Obama years. What do you see? His eight years did more to destroy America than any of past presidents, be they Democrat or Republican. Look and study these few charts: Student […]
Elina Tarkazikis Cooling home price appreciation and growing wages may seem like good signs for house hunters, but home affordability still plunged to a more than 10-year low, according to Attom Data Solutions. Nationwide, Attom’s Home Affordability Index flopped to a reading of 91 in the fourth quarter, down 15% from a year ago and […]
Capitalism did not cause the Great Depression. The Great Depression was something that the government did to capitalism. (The great Recession, too.) We had the Federal Reserve and monetary experts running the system under the belief that we need to maintain a stable value of money. This was achieved by keeping consumer product prices stable. […]
Sales of both new and existing houses and condominiums dropped 11.8 percent year over year, as prices shot up to a record high, according to CoreLogic. The median price paid for all Southern California homes sold in June was a record $536,250, according to CoreLogic, a 7.3 percent increase compared to June of 2017. In […]
We’re starting to see rising supply & flat/declining prices by Adam Taggart Our good friend John Rubino over at DollarCollapse.com just released an analysis titled US Housing Bubble Enters Stage Two: Suddenly Motivated Sellers. He reminds us that housing bubbles follow a predictable progression: Stage One: Mania — Prices rise at an accelerating rate as factors like […]
By Tyler Durden Once again, despite the flurry of so-called experts who were quoted in the financial media saying President Trump has no idea what he’s talking about when he tweeted that Amazon “are putting many thousands of retailers out of business”, somebody with experience running one of the world’s largest retailers shocked a handful of […]
by Nafeez Ahmed New scientific research suggests that the world faces an imminent oil crunch, which will trigger another financial crisis. A report by HSBC shows that contrary to the commonplace narrative in the industry, even amidst the glut of unconventional oil and gas, the vast bulk of the world’s oil production has already peaked […]
by Steve Randall There was a drop in sales of new homes nationwide in January with a seasonally-adjusted rate of 593,000 units sold, down 7.8% year-over-year. Data from the HUD and Commerce Department shows that inventory of new homes was 301,000 in the month, a 6.1-month supply at the current sales pace. “The moderation in […]
Conservatism works, Imagine if it was implemented at 100%. President Trump’s Economy is Simply “On Fire”. Job numbers released today through the end of November show an increase of 2.2 million jobs since last years election and an unemployment rate of 4.1 percent. After the same period under Obama, (4.8) million jobs were lost and […]
