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Home Listings Suddenly Jump As Sellers Worry They May Miss Out on the Red-Hot Housing MarketMay 27, 2022 - 05:21:52 PDT
With home sales slowing and mortgage rates rising, home sellers are starting to worry that the red-hot housing market is over.
Despite rising through the month, the Fed balance ended up shrinking slightly by $25 billion in May, even as it slightly increased its Treasury holdings.This was the first monthly decline in the balance sheet since $220B of “Other” rolled off in July 2020. In that case, “Other” were repurchase agreements with foreign entities to provide liquidity and alleviate stress in the global markets.
When the Federal Reserve tinkers with interest rates, it creates all kinds of economic distortions. This is very obvious in the housing market. Over the last couple of years, the Fed blew up a giant housing bubble. Now, the central bank has pricked that bubble. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey looks at the housing market as a microcosm of the broader economy.
Gold Ends Higher Thursday, Shrugs Off Earlier Weakness As the Dollar Pulls Back: MWMay 26, 2022 - 13:08:03 PDT
Gold prices finish modestly higher on Thursday, after struggling for direction, as day after minutes of the Federal Reserve's May meeting signaled a willingness by the central bank to potentially pause its course of rate hikes later this year, should economic data weaken.
May 26, 2022 - 13:04:54 PDT
"It's massively exposed to diesel," said Mark Fellows, CEO of Skarn Associates, a U.K.-based consultancy that focuses on carbon emissions in the mining sector. "The same is true to a large extent for gold."
Let's consider livelihood options in an unsustainable economy of extremes that are unraveling, an economy that is being forced to transition to Degrowth.
Middle-class U.S. families have been treading water for decades—weighed down by stalled income growth and rising prices—but the runaway inflation that has emerged from the pandemic is sending more than a ripple of frustration through their ranks.
“A total of 50,759 U.S. properties started the foreclosure process in Q1 2022, up 67% from the previous quarter and up 188% from a year ago,” the report stated, with Chicago alone seeing over 3,000 foreclosures in the first three months of the year.
The number of home sellers lowering prices has reached the highest level since October 2019, the latest sign that the housing market is slowing from its once-frenzied pandemic pace.
Inflation: Former Philly Fed President Reveals the ‘Big Mistake’ That Led to the Current CrisisMay 26, 2022 - 12:15:12 PDT
"Monetary and fiscal policy have been extraordinarily aggressive in this episode and they’re the ones to look to as to what went wrong during this and to why the inflation has persisted as it seems to be," he said.
Whatever the “reasons” behind it, the roaring pace of credit card usage should be a major flag for the economy because rising interest rates and expanding personal credit is a toxic mix. Debt-deflation should ensue.
After over a decade of "passive investing" dominance, a shift is underway. Active management rewards investors who can skillfully blend between and shift within different asset classes, a seemingly fruitless exercise until recently. When everything is going up in value, there's little-to-no value in doing so.
Stagflation. It was the dreaded “S word” of the 1970s. For Americans of a certain age, it conjures memories of painfully long lines at gas stations, shuttered factories and President Gerald Ford’s much-ridiculed “Whip Inflation Now” buttons.
The Federal Reserve could pause its monetary policy tightening in September if there is an economic deterioration and inflation subsides, BofA strategists said on Thursday, a day after the U.S. central bank released the minutes from its May policy meeting.
I would go so far as to say that this process has created the largest disconnect between stock prices and the intrinsic value of equities in history. At some point, these two will have to reconnect. They always do. Perhaps the weakness in equities so far this year represents the beginning of that process.
US Secretary of State Antony Blinken delivered an address Thursday designed to rally the international community to deter and counter China, which the US sees as a long-term threat to global stability.
A new AP poll released this week shows for the first time that Americans are souring on "Putin's price hike" as a cost of propping up Ukraine in its war with Russia. Six and seven dollar a gallon gas plus raging inflation have brought the cost of an interventionist foreign policy home to the US and Americans are not happy. Also today, Zelensky's top aide has some colorful words for Ukraine's western sponsors.
A ‘Global Depression’ and More Rate Hikes: Here Are the Talking Points From Day Three at DavosMay 26, 2022 - 09:30:47 PDT
CNBC's Silvia Amaro reviews Wednesday's four biggest stories from the World Economic Forum's annual meeting in Davos.
Congress believe the answer to every problem is to create a program, and if that program does not work, they create another program rather than fixing what went wrong.
"The buyers just stopped buying," said Shauna Pendleton, an agent with Redfin in Boise, Idaho, until recently one of the hottest markets in the country. "Californication," as she called it, drove an influx of buyers from the West coast, flush with cash courtesy of the also formerly booming stock market.