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Housing comments from Soylent Green

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Housing comments from Soylent Green

Long term readers will remember mortgage broker “Soylent Green is People”. He sent me these comments on housing that I’ll pass along: “A bit of a panic is breaking out amongst my Realtor friends. Sales are down. There are more cancellations right before closings than usual. Builders are getting a few drop outs as...
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Lawler: D.R. Horton: Net Home Orders Up, Prices “Flattish;” Says If Prices are Low Enough, There is “Demand” from First-Time Buyers

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Lawler: D.R. Horton: Net Home Orders Up, Prices “Flattish;” Says If Prices are Low Enough, There is “Demand” from First-Time Buyers

From housing economist Tom Lawler: D.R. Horton, the nation’s largest home builder, reported that net home orders in the quarter ended March 31, 2015 totaled 11,135, up 29.9% from the comparable quarter of 2015. The average net order price last quarter was 4,400, up 2.0% from a year ago. Home deliveries totaled 8,243, up...
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From 5 Years Ago: The History of the World wouldn’t be complete without …

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From 5 Years Ago: The History of the World wouldn’t be complete without …

I posted this cartoon 5 years ago … it seems like yesterday. From Larry Gonick’s The Cartoon History of the Modern World, Part 2, on page 248 … (ht TDM) Posted with permission from Larry Gonick. Thanks! For more on Tanta, see the menu bar above … Calculated Risk
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Mortgage News Daily: Mortgage Rates at 4.22%, Down from 4.45% Last September

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Mortgage News Daily: Mortgage Rates at 4.22%, Down from 4.45% Last September

I use the weekly Freddie Mac Primary Mortgage Market Survey® (PMMS®) to track mortgage rates. The PMMS series started in 1971, so there is a fairly long historical series. For daily rates, the Mortgage News Daily has a series that tracks the PMMS very well, and is usually updated daily around 3 PM ET....
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GDP drag from State and Local Governments

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GDP drag from State and Local Governments

One of the reasons I expect GDP to pick up over the next few years is that state and local government spending will probably stop being a drag on GDP, and might even add a little to GDP going forward. However the 2nd estimate of GDP showed state and local government spending was still a...
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GDP and Employment drag from State and Local Governments

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GDP and Employment drag from State and Local Governments

Two of the key U.S. economic trends I expected this year were 1) a recovery in residential investment, and 2) that most of the drag from state and local governments would be over by mid-year 2012. Just eliminating the drag from state and local governments would help GDP and employment growth. I’ve written extensively...
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San Diego: “Fears recede of second crash from ‘shadow inventory’”

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San Diego: “Fears recede of second crash from ‘shadow inventory’”

From Eric Wolff at the North County Times: Fears recede of second crash from ‘shadow inventory’ For years, some real estate analysts feared that banks would suddenly release a wave of foreclosed houses, swamping the local housing market and sending house prices into a second collapse. That second tsunami isn’t happening, according to an...
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Three months away from opening, CFPB releases expenditures

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Three months away from opening, CFPB releases expenditures

The still forming Consumer Financial Protection Bureau listed million in expenditures as of March 31, the agency said Friday. The Dodd-Frank Act stipulates the CFPB to be built and ready by July 21. The agency will become the de facto federal regulator for the entire mortgage market, from origination through servicing. While the agency...
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December new home sales up 17.5% from prior month

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December new home sales up 17.5% from prior month

New sales of single-family homes rose 17.5% in December from a month earlier to the highest level since April when the homebuyer tax credit propped up the market. The Commerce Department said the seasonally adjusted rate of 329,000 units last month was up from a downwardly revised 280,000 for November, yet still 7.6% below...
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California home sales down 14% from last year: DataQuick

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California home sales down 14% from last year: DataQuick

There were 34,239 new and existing homes and condos sold in California in August, down 14% from last year, according to MDA DataQuick, a San Diego-based real estate data provider. Home sales were 2.7% from July as well. The median price paid for a California home in August reached 0,000, up 4.4% from last...
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