Several companies have produced single-family detached homes for around $10,000 and can be built in 24 hours.
The London Interbank Offered Rate (LIBOR) has now reached its highest level since the end of The Great Recession in June 2009
Q4 GDP in the US fell to 1.9%. Now the Atlanta Fed is forecasting a dismal 1.8% for Q1 2017.
Today’s economic news feed should be of interest to the The Federal Reserve. Core Personal Consumption Expenditures (sans food and energy) for January were +0.3% MoM and +1.7% YoY, below The Fed’s target inflation rate of +2.0%. Of particular note is Real Personal Spending
The Federal Reserve’s target PCE inflation rate of 2.0% has been elusive.
Bloomberg – Princess Laya – Contracts to buy previously owned U.S. homes unexpectedly declined in January as higher mortgage rates, elevated prices and a limited number of listings pushed the index to a one-year low
While the USA has seen their Treasury yields generally rising since the election of President Trump, Europe and particularly Germany have not been experiencing the same “love.”
New home sales for January 2017 were released and they were not up to expectations.
Bloomberg — As rising home prices, slow new home construction, and demographic shifts push homeownership rates to 50-year lows, the U.S. is increasingly a country of renters—and landlords.
The FHFA released their house price index this morning. The HPI showed growth of 0.4% in December and 6.2% YoY.