Higher Priced Homes Selling, Builders Confident, Forbearance Update

Homes in the $100,000 to $250,000 range only saw a 4% gain in sales compared to a year ago, while sales of homes costing more than $1 million more than doubled. Lawrence Yun Rates – ticked up marginally this week maintaing the slight upward trend over the last quarter. They remain nearly 1% lower than […]

Migration Data, Jobs Update, Inflation

This NPR story interviews Marie Patino from Bloomberg City Lab as she wrote an article that interprets the migration data during early Covid-19. Though dated to the beginning of the pandemic, it helps address the anecdotal ‘exodus from large cities’. In the US, Manhattan and San Francisco are experiencing urban flight (homes sales in Manhattan […]

Pandemic Impact, Job Update, Home Sales Soar

In a survey by the Federal Reserve, a surprising 77% of people said they were doing ‘OK’ financially at the end of July which is a 2% increase year over year. Some of this sentiment coincides with timing of unemployment benefits. The restaurant sector is experiencing major pain but Americans are consuming 40% more pizza […]

$100 Bill, Single Family Construction Strength, Job Update

Currently there is about $2T in US paper money in worldwide circulation, roughly $200B more than last year. There are more $100 bills than $1 bills in circulation. Does the $100 bill make the cost of doing illegal business too low, and is it too easy for the ultra-rich to store cash reserves and limit […]

Home Improvements Rise, Inflation Up, Jobs Update

Google home improvement searches are up 50% from last year. 3/4 homeowners surveyed by porch.com reported they had completed major home remodels since covid. Deck construction is up 275%, landscaping hires are up 238%, and fence installation is up 144%. More time at home, extra cash on hand (from not going out/traveling), and low interest […]

Duels, Gambling, & Finance, Home Appreciation, Jobs

John Law – wins in a duel in London and is convicted of murder. He escapes from prison, flees the country, and arrives in France. There he leverages his understanding of statistics to earn a small fortune gambling, which he builds into a large fortune by creating a paper money system and giving birth to […]

Consumer Trends, Rates Inch Up, Home Sales on Fire

In addition to purchasing more groceries, consumer buying patterns have impacted other non-obvious sectors. Sales are up on cigarettes, used cars, energy, camp supplies, and fake meat. Rates – moved up slightly this week as the 10 Year US Treasury increased for the 3rd consecutive week. Rates are down 3/4% from this time last year. […]

Home Sales Soar & Jobless Claims Continue

Rates – mortgage rates decreased slightly this week after increasing noticeably last week. Rates are down 3/4% from this time last year. Jobs – the number of people filing for unemployment for the first time increased this week and bumped above the 1M threshold. If you add the number of people filing for unemployment on […]

Retail Sales, Refi Fees, Rates Increase

Retail Sales – improved to higher than pre-covid levels. Electronics and appliances for home remodels led the way in July. Clothing & gasoline sales also increased significantly. Rates – bumped up this week after steadily decreasing for the last 70 days. The increase was minor but the 10 Year US treasury and Mortgage Backed Securities […]

Location? Jobs, Rent, Appreciation

Housing Boom – suddenly the mantra location, location, location doesn’t seem as relevant when: many people are working remotely, most schools are going virtual, and everyone wants more space. Redfin site traffic is up 40% since the pandemic and pending sales are at historic highs. The traffic to listings that are in towns with populations […]

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