Builders are only adding about 450,000 single family units per year. Total starts including multifamily over the past 12 months were 653,000. Meanwhile, the US appears to be on pace to add between 1 million and 1.5 million full time jobs this year. (Subscriber login below) The math is clear and shrinking inventories prove it.…
Tag Archive for Liquidity
Housing, Lee's Free Thinking, Must Read
Housing Prices and Sales Volume Continue Surge in Early June – Dataquick
by Lee Adler • • 1 Comment
Dataquick is now reporting a 7.4% increase in closed sale values for the 30 days ended June 7 versus a year ago. This would represent mostly contracts entered in March. The data released today shows a clear breakout in prices with the median sale price for sales data collected in the 30 days ended June 7…
Housing, Must Read
Housing Prices and Sales Volume Gained Sharply in May- Dataquick
by Lee Adler • • 0 Comments
Dataquick is reporting a 6.3% increase in sale prices and a 10.1% increase in sales volume for May versus May 2011. Versus 3 years ago, the median sale price is up 3.3% and volume is up 10.1%. Prices have now exceeded the 2011 peak reached in July and August and sales volume is virtually at…
Charts, Economics, Housing, Lee's Free Thinking, Must Read
Case Shiller – A Rant
by Lee Adler • • 0 Comments
Here we go again with all the nonsense reporting of the Case Shiller Index, a 3 month moving average of house sale transactions that took place in November, December and January, and was reported today as representing the end of March. Why does anyone care about the value of a moving average of transaction prices…
Liquidity Trader Complete, Professional Edition
Liquidity in Four Week Stall, But Still In Uptrend
by Lee Adler • • 0 Comments
The composite liquidity indicator downticked slightly last week on small declines in most of its components. It has been flat since May 2, while remaining in a strong uptrend. We know that the Fed’s pumping to Primary Dealers is in a virtually permanent uptrend, but other indicators may not be. Pauses have been a normal…
Liquidity Trader Complete
Treasury Buying Panic Reaches Major Inflection Point, Whither Yields Go, So Too Stocks
by Lee Adler • • 0 Comments
The Treasury had a heavy calendar last week. The market will face a big Treasury settlement this Thursday as a result. The need to pay for that supply will play a role in the market probably on Tuesday, Wednesday, and possibly Thursday, or with a delayed reaction on Friday. However, balancing that is the ongoing…
European Crisis
Dallara Says Greek Euro Exit May Exceeed 1 Trillion Euros – Bloomberg
by Newswires • • 0 Comments
The cost of Greece exiting the euro would be unmanageable and probably exceed the 1 trillion euros ($1.25 trillion) previously estimated by the Institute of International Finance, the group’s managing director said. The Washington-based IIF’s projection from earlier this year is “a bit dated now” and “probably on the low side,” Charles Dallara said in…
Must Read
Time for bank bond write-downs: James Saft | Reuters
by Newswires • • 0 Comments
It may now be time to cross that red line and force some bank bondholders, even senior bondholders, to take losses. Throughout the now five-year-old global financial crisis, writing down bank debt when banks are insolvent is a step that policy-makers have been almost universally unwilling to take. Fearing a rolling line of bank failures…
Latest Business Headlines
Hollande Defies German Crisis Handling on Euro Bonds, Banks – Bloomberg
by Lee Adler • • 0 Comments
French President Francois Hollande challenged Germany’s handling of the financial crisis as he headed to his first European Union summit with calls for joint borrowing and cash injections to struggling banks. Hollande teamed with Spanish Prime Minister Mariano Rajoy to press for tonight’s meeting of EU leaders to break with German-dominated budget-cutting policies that have…
Liquidity Trader Complete, Professional Edition
Just the Facts M’am, Just the Facts- A Brief Liquidity Summary
by Lee Adler • • 0 Comments
A couple of minor technical problems called “business” and “life” have now intruded on my increasingly bogged down publication schedule that, in the interest of getting caught up, I’m presenting a condensed version of the Fed Report tonight. It includes just the main components of the macro liquidity indicator (which I suspect is probably all…
