Relative to this morning’s post on RE, have a look at these charts (via JP Morgan) — none of suggest anything other than more work to be done in the RE sector.
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Source: BLS, FactSet, J.P. Morgan Asset Management.
Data reflect most recently available as of 6/30/11.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"Dollar depreciation leads to higher inflation and ultimately forces foreign creditors to question their rationale and indeed their sanity for continuing purchases of U.S. Treasuries." -Bill Gross
Initial Jobless Claims for the week ended Feb 18th totaled 351k, 4k less than expected but the prior week was revised up by 3k to 351k. The 4 week average did fall to 359k from 366k, the lowest since Mar '08. Continuing Claims fell by 52k to the lowest since Aug '08. Also, Extended Benefits fell a net 69k. Bottom line, the data still points to a labor market that continues to improve however lumpy the process feels for many. ...
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August 17th, 2011 at 2:57 pm
none of [these charts] suggest anything other than more work to be done in the RE sector.
Eh? The affordability chart (mortgage pmt. vs. income) looks to be near a record low.
August 17th, 2011 at 3:36 pm
record low since 75
looks like about 12-13% of household inc compared to almost 40% in early 80s OUCH, howdeydodat?
home equity is down 55% from peak to 1Q11, a couple more down years and the walkaways will be unfathomable
August 17th, 2011 at 9:08 pm
We have now reverted to the Case Schiller mean. However, simple math requires that prices overshoot he mean on the downside IF the same mean is to remain in place, other wise a new higher mean will prevail. I doubt the latter so believe there is still another 10-15% to run to the downside.