I’m frequently asked if the recent improvement in the economic data might be a seasonal glitch. Not according the analysts at Nomura (who first noticed it): Diminishing seasonal bias We first alerted clients to a pattern of “seasonal bias” in the data in October 2011 and followed closely its implication for financial markets. At that time, we...
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An interesting article in the NY Times: Irish Legacy of Leniency on Mortgages Nears an End Although there are more than 143,000 delinquent home mortgages in Ireland, foreclosures have been so politically and legally difficult that, in the last three months of last year, they numbered 38. To put this in perspective, in the...
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The banks open in Cyprus tomorrow with strict capital controls, from Reuters: G4S Readies Guards as Cypriot Banks Prepare to Open The Central Bank said banks would open their doors at midday (6 a.m. EST) on Thursday after nearly two weeks when Cypriots could only get cash through limited ATM withdrawals. A central bank...
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The first quarter of 2013 is almost over and so far, a few trends have emerged in real estate.  These trends are not set in stone, nor can we be sure that they will continue on the same trajectories throughout the rest of the year.  As with any other major part of the economy,...
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This will be an interesting case to watch, from Reuters: Stockton, California bankruptcy eligibility trial starts As the biggest U.S. city to file for bankruptcy, the outcome for Stockton will be an important test case for the .7 trillion U.S. municipal debt market. The hearing is expected to last most of this week. Stockton,...
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As we all know, America’s housing market has been in a slump for many years.  Years of negative news made home buyers and real estate investors nervous about the future of the U.S. housing market.  However, the following infographic should bring optimism back to most people. This infographic reports the opinions of real estate...
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Here is the unofficial problem bank list for Mar 22, 2013. Changes and comments from surferdude808: As expected, a quiet week as there were only four removals from the Unofficial Problem Bank List. The removals leave the list at 797 institutions with assets of 4.3 billion. The list has not been under 800 since...
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This is a minor indicator that I follow. From ATA: ATA Truck Tonnage Index Edged Higher In February The American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index rose 0.6% in February after increasing 1% in January. (The 1% gain in January was revised down from a 2.4% increase ATA reported on...
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For a good number of real estate professionals, 2012 wasn’t a great year. We were still on a downward spiral towards the bottom of the real estate market. This wasn’t exciting news for real estate investors looking to make profitable deals investing in real estate. But as we move deeper into 2013, it’s becoming...
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Update: There is a plan to revise the deposit tax, from Matina Stevis “Exclusive: plans to revise #cyprus deposit tax on wires: under 5% for €0-100k, under 10% for €100-500k, around 13% for €500k+” A must read account of the Cyprus negotiations by Peter Spiegel at the Financial Times: Cyprus depositors’ fate sealed in...
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