Nestled in the sprawling desert community of North Las Vegas, the three-bedroom home at 6043 Clovelly St. perfectly embodies what has gone terribly wrong at Opendoor Technologies.
Starwood Capital CEO Barry Sternlicht, who has a net worth of $4.6 billion, says inflation is going to drop—and it’s going to drop hard.
US bank lending contracted by the most on record in the last two weeks of March, indicating a tightening of credit conditions in the wake of several high-profile bank collapses that risks damaging the economy.
Newsfeed: US Bank Lending Slumps by Most on Record in Final Weeks of March Read More »
Investors are shunning the real estate sector again, as headwinds from high rates show no sign of abating.
Property stocks are back among the year’s worst performers. They have plunged 22% since early February, with the threat of recession returning to the top of worries for market participants already calculating the fallout for funding costs from Silicon Valley Bank’s collapse and preparing for rates to remain elevated for longer.
Newsfeed: Peak Rates Can’t Come Soon Enough For Real Estate Read More »
In 2005, years before the subprime mortgage crisis kicked off the Great Recession and led millions of Americans to lose their homes, Larry McDonald was a vice president at the infamous now-defunct global financial services firm Lehman Brothers.
Privately owned housing starts in February came in at a seasonally adjusted annual rate of 1,450,000. This is 9.8 percent above the revised January estimate of 1,321,000, a much bigger jump than the expected 0.1 percent increase.
Newsfeed: Breitbart Business Digest: Light at the End of the Housing Tunnel Read More »
The Fed/FDIC/TSY bailout (BTFP!?) has prompted a massive repricing of the market’s expectations for The Fed’s rate-trajectory from here. The terminal has plunged and pulled forward…
National home prices fell for 6 straight months up to December (the latest data from S&P Global’s Case-Shiller index), dropping more than expected (-0.51% MoM vs -0.40% MoM exp). This slowed the annual growth of prices to the weakest since July 2020…
Newsfeed: US Home Prices Tumbled For 6th Straight Month In December Read More »
Housing recessions matter because they are the ‘canary in the coal mine’ for economy-wide recessions. Not all economic recessions follow housing recessions1, but most housing recessions presage economic recessions.
Newsfeed: The US Housing Recession Is The Canary In The Coal Mine Read More »
More tech tantrums. China’s Covid surge. And above all, no central banks riding to the rescue if things go wrong. Reeling from a record $18 trillion wipeout, global stocks must surmount all these hurdles and more if they are to escape a second straight year in the red.
Newsfeed: After $18 Trillion Rout, Global Stocks Face More Hurdles in 2023 Read More »