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California Bay Area Home Sales Decline 4.7% YoY in Q2, Inventory up 11% YoY

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California Bay Area Home Sales Decline 4.7% YoY in Q2, Inventory up 11% YoY

From Compass chief economist Selma Hepp: How did the spur of IPOs impact Bay Area housing markets? • Higher-end sales surged. While the total number of homes sold in the second quarter trended below last year by about 5 percent, higher-priced sales, above million, surged again bringing second quarter sales in line with last...
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Wednesday: Housing Starts, Beige Book

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Wednesday: Housing Starts, Beige Book

Wednesday:• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index. • At 8:30 AM, Housing Starts for June. The consensus is for 1.260 million SAAR, down from 1.269 million SAAR in May. • During the day, The AIA’s Architecture Billings Index for June (a...
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Sunday Night Futures

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Sunday Night Futures

Weekend:• Schedule for Week of July 14, 2019 Monday:• At 8:30 AM, The New York Fed Empire State manufacturing survey for July. The consensus is for a reading of 0.5, up from -8.6. From CNBC: Pre-Market Data and Bloomberg futures: S&P 500 and DOW futures are down slightly (fair value). Oil prices were up...
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Q2 Review: Ten Economic Questions for 2019

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Q2 Review: Ten Economic Questions for 2019

At the end of last year, I posted Ten Economic Questions for 2019. I followed up with a brief post on each question. The goal was to provide an overview of what I expected in 2019 (I don’t have a crystal ball, but I think it helps to outline what I think will happen...
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Thursday: CPI, Unemployment Claims, Fed Chair Powell Testimony

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Thursday: CPI, Unemployment Claims, Fed Chair Powell Testimony

This should be interesting: The BLS told me today that the “newest set of Labor Force projections through 2028 is set to be released Wednesday September 4th 2019″. Thursday:• At 8:30 AM, The initial weekly unemployment claims report will be released.  The consensus is for 216 thousand initial claims, down from 221 thousand last...
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Tuesday: Job Openings

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Tuesday: Job Openings

From Matthew Graham at Mortgage News Daily: Mortgage Rates Under Some Pressure Mortgage rates began the day in slightly lower territory compared to last Friday afternoon, but they’d risen noticeably from Wednesday to Friday. The recovery seen this morning wasn’t enough to get them back in line with Wednesday’s levels. To make matters slightly...
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Schedule for Week of July 7, 2019

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Schedule for Week of July 7, 2019

The key report this week is June CPI. Fed Chair Jerome Powell will testify on the Semiannual Monetary Policy Report to the Congress on Wednesday and Thursday. —– Monday, July 8th —–3:00 PM: Consumer Credit from the Federal Reserve. —– Tuesday, July 9th —–6:00 AM ET: NFIB Small Business Optimism Index for June. 10:00...
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Reis: Mall Vacancy Rate Mostly Unchanged in Q2 2019

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Reis: Mall Vacancy Rate Mostly Unchanged in Q2 2019

Reis reported that the vacancy rate for regional malls was 9.3% in Q1 2019, unchanged from 9.3% in Q1 2018, and up from 8.6% in Q2 2018. This is down slightly from a cycle peak of 9.4% in Q3 2011, and up from the cycle low of 7.8% in Q1 2016. For Neighborhood and...
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Reis: Office Vacancy Rate increased in Q2 to 16.8%

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Reis: Office Vacancy Rate increased in Q2 to 16.8%

Reis reported that the office vacancy rate was at 16.8% in Q2, up from 16.7% in Q1 2019. This is up from 16.6% in Q2 2018, and down from the cycle peak of 17.6%. From Reis Chief Economist Victor Calanog: The office vacancy rate rose slightly over the quarter to 16.8% from 16.7% in the...
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June 2019: Unofficial Problem Bank list increased to 76 Institutions, Q2 2019 Transition Matrix

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June 2019: Unofficial Problem Bank list increased to 76 Institutions, Q2 2019 Transition Matrix

Note: Surferdude808 compiles an unofficial list of Problem Banks compiled only from public sources. DISCLAIMER: This is an unofficial list, the information is from public sources and while deemed to be reliable is not guaranteed. No warranty or representation, expressed or implied, is made as to the accuracy of the information contained herein and...
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