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A Comment on House Prices: Real Prices and Price-to-Rent Ratio in January

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A Comment on House Prices: Real Prices and Price-to-Rent Ratio in January

The expected slowdown in year-over-year price increases has occurred. In October 2013, the National index was up 10.9% year-over-year (YoY). In January 2015, the index was up 4.5% YoY.  However the YoY change has only declined slightly over the last five months. Looking forward, I expect the YoY increases for the indexes to move...
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Tuesday: Case-Shiller House Prices, Chicago PMI

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Tuesday: Case-Shiller House Prices, Chicago PMI

From the WSJ: Fed’s Fischer Floats Ideas for Regulating Shadow Banks The Federal Reserve’s No. 2 official floated a series of ideas for regulating nonbank financial companies, the latest indication that top U.S. policy makers are focusing on risks in the so-called shadow banking...
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DOT: Vehicle Miles Driven increased 4.9% year-over-year in January, Rolling 12 Months at All Time High

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DOT: Vehicle Miles Driven increased 4.9% year-over-year in January, Rolling 12 Months at All Time High

Wednesday:• 7:00 AM ET, the Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index. • At 8:30 AM, Durable Goods Orders for February from the Census Bureau. The consensus is for a 0.5% increase in durable goods orders. With...
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How America Became a Nation of Renters  [Infographic]

How America Became a Nation of Renters  [Infographic]

The percentage of U.S. households that own a home has dropped significantly since 2008, and experts say this downward trend may well continue for at least several more years. Over the last ten years the nation has lost 1 million net homeowner households and...
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A Ray of Sunshine for Chicago Home Buyers

A Ray of Sunshine for Chicago Home Buyers

Good news for home buyers in Chicago: a slower-moving market may help keep price increases in check this year. Let’s look at the amount of time it takes to sell a house in Chicago – currently about 145 days. Days on market (DOM) is...
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Monday: Existing Home Sales

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Monday: Existing Home Sales

From Nick Timiraos at the WSJ: Oil Price Drop Hurts Spending on Business Investments Prospects for an uptick in business investment this year are facing a major drag: The collapse in oil prices is spurring significant cutbacks for the energy-production industry, which had been...
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30 Year Mortgage Rates decline to March Lows

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30 Year Mortgage Rates decline to March Lows

From Matthew Graham at Mortgage News Daily: Mortgage Rates End Week at March Lows Mortgage rates moved modestly lower on average today after doing an admirable job of holding their ground amid weaker market conditions yesterday. That weakness was largely the result of a...
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Philly Fed Manufacturing Survey declines to 5.0 in March

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Philly Fed Manufacturing Survey declines to 5.0 in March

From the Philly Fed: March Manufacturing Survey Manufacturing activity in the region increased at a modest pace in March, according to firms responding to this month’s Manufacturing Business Outlook Survey. The survey’s current indicators for general activity and new orders were positive and remained near...
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Linear and Cyclical Real Estate Markets

Linear and Cyclical Real Estate Markets

There are two basic types of real estate markets: Linear and Cyclical. Cyclical Markets Cyclical markets are real estate markets that tend to have larger price moves up and down over the years. Property values move up and down like a roller coaster ride...
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