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Yellen: Expect Rate Hike in 2015, Several Years before Fed Funds Rate “back to normal” level

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Yellen: Expect Rate Hike in 2015, Several Years before Fed Funds Rate “back to normal” level

From Fed Chair Janet Yellen: The Outlook for the Economy f the economy continues to improve as I expect, I think it will be appropriate at some point this year to take the initial step to raise the federal funds rate target and begin the process of normalizing monetary policy. To support taking this...
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Are Home Sales Climbing or Falling?

Are Home Sales Climbing or Falling?

Sometimes the serendipity of my Twitter stream provides great food for thought. This morning, I saw this seemingly contradictory pair of tweets from housing market people I follow: Conflicting tweets about Home Sales from two people who work for the Na...
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AIA: Architecture Billings Index declined in April

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AIA: Architecture Billings Index declined in April

Note: This index is a leading indicator primarily for new Commercial Real Estate (CRE) investment. From the AIA: Architecture Billings Remain Stuck in Winter Slowdown Riding a stretch of increasing levels of demand for thirteen out of the last fifteen months, the Architecture Billings...
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How to Predict Population Growth

How to Predict Population Growth

I’m currently reading Dr. Peter Linneman’s “Real Estate Finance and Investments” and it includes some great information on how to predict population growth — the number one indicator of real estate price appreciation and rent growth. Here are some of my notes: Read the rest...
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Are we finally going to get some housing inventory?

Are we finally going to get some housing inventory?

The operative variable in our four-year housing recovery has been record-low inventory. There are many underlying reasons why inventory is low, but generally speaking, many people have had to hold on to their homes because their mortgage was underwate...
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NAHB: Builder Confidence decreased to 54 in May

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NAHB: Builder Confidence decreased to 54 in May

The National Association of Home Builders (NAHB) reported the housing market index (HMI) was at 54 in May, down from 56 in April. Any number above 50 indicates that more builders view sales conditions as good than poor. From the NAHB: Builder Confidence Falls...
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Lawler: Preliminary Table of Distressed Sales and Cash buyers for Selected Cities in April

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Lawler: Preliminary Table of Distressed Sales and Cash buyers for Selected Cities in April

Economist Tom Lawler sent me the preliminary table below of short sales, foreclosures and cash buyers for a few selected cities in April. On distressed: Total “distressed” share is down in most of these markets mostly due to a decline in short sales (Mid-Atlantic...
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Thursday: Unemployment Claims, PPI

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Thursday: Unemployment Claims, PPI

File under “the beatings will continue until morale improves” … From Bloomberg: Greece’s Creditors Said to Seek 3 Billion-Euro Budget Cuts Greece’s anti-austerity government needs to raise at least three billion euros (.4 billion) through additional fiscal measures by the end of this year...
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Choosing the Right Neighborhood

Choosing the Right Neighborhood

Classifying a neighborhood by “type”, or what many investors refer to as a “grade”, is typically nothing more than a subjective description.  Although most people will have a general idea of what is being referred to, in my experience it is usually nothing more...
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