Housing has too often become a source of insecurity rather than security.
click for ginormous graphic Source: Visual Capitalist Toronto and Vancouver at the high end of the scale, Chicago and Milan as undervalued, and New York City as fairly valued are some of the details in this interesting analysis . . . The post Global Cities on the Bubblicious Scale appeared first on The Big Picture.
The surest way to put money into Donald Trump’s pocket is via his core real estate assets, according to Forbes. From foreign governments to big banks, tenants throw him some $175 million a year without an accounting of who they are or how much they pay. Landlord-in-Chief The post Emolument This! The Landlord-in-Chief appeared first on The Big Picture.
Millennials Are Out of the Basement and Into Buying Homes Young adults are getting jobs, forming households and having kids. It all adds up. Bloomberg, February 2, 2018 There are two themes I find endlessly fascinating about real estate. One is its enormous role in the financial crisis. 1 The other is the steep decline… Read More The post Good news! Home Ownership Has Bottomed appeared first on The Big Picture.
Below is one of my favorite housing charts, courtesy of Calculated Risk. It gives some people fits, but the explanation is very simple: Home buying follows a very distinct annual cycle, relating to several factors, but mostly the calendar school year (September to June) and the weather. Parents shopping for a new home know it is… Read More The post December Existing Home Sales appeared first on The Big Picture.
Rising mortgage rate are about to do some damage to the house party.
Barcelona wanted to take some air out of its property bubble. Will it wind up getting more than it bargained for?
Amar Bhide gives a clearly-written, compelling argument against a supposed banking "innovation," securitization.
Source: Medium I am intrigued by the role of Private Equity in the ongoing fall or Retail; I don’t believe it is well understood, either in sheer volume or in any sort of context. Anecdotally (yes, I know) I have heard tales from people in the business who suggested that empty store fronts… Read More The post Real Estate Private Equity: Technology’s Next Victims? appeared first on The Big Picture.
Nationally famed foreclosure defense attorney Tom Cox scores a Maine Supreme Court win that saved a client's home right before Christmas.
Rents are rising at the slowest pace in more than a year, a welcome development for consumers but another potential complication for Federal Reserve officials waiting for a pickup in inflation. A measure of what Americans are paying for rent was up 3.7% in October and again in November from a year earlier. Rent inflation dipped to that level in September 2016 but was last consistently that low in the opening months of 2016, according to Labor Department data. Major cities including New York, Houston and San Francisco have seen the slowdown in rental cost pressures after years of rapid gains. Rent inflation is still outpacing overall inflation, but the slowdown could ease what had already been limited price pressures from across the economy. That’s one more factor for Fed officials to consider as they weigh their next steps on interest rates. Inflation has continually undershot the central bank’s 2% target Continue reading "How the Cost of Rent Is Keeping Inflation in Check"
Inequality isn’t driven by taxes—it’s driven by the power of capital in relation to workers.
Source: How Much Last month, I noted the impact of “Millennials leaving the basement to buy homes. This points to a rise in spending on furniture, appliances, electronics and cars that will lift earnings and power stocks.” All of the data since then has confirmed that perception: Home sales among the younger generation… Read More The post Millennial Home Ownership in Large Cities appeared first on The Big Picture.
State-by-state differences in house price appreciation click for interactive map View on GeoFRED While we await the FOMC’s next interest decision, have a look at the the map above: It shows how the broad variations in housing appreciation . over time. New York and California stand out, reflecting the higher paying jobs — and higher… Read More The post Differences in House Price Appreciation appeared first on The Big Picture.
It’s going to take force to fight climate change and there’s little time to waste. Asking and negotiating won’t do the job.
Millennials Leave the Basement to Buy Homes This points to a rise in spending on furniture, appliances, electronics and cars that will lift earnings and power stocks. Bloomberg, November 10, 2017 A few years ago, I wrote “The economy will one day improve, and the millennials will move out of their parents’ basements. When that happens, expect… Read More The post All Hail the Millenial Homebuyer ! appeared first on The Big Picture.
Looking at arguments used to justify original claims on land (meaning private ownership versus common ownership or use).
Source: Visual Capitalist The post How Many Hours Americans Need to Work to Pay Their Mortgage appeared first on The Big Picture.
Local activists are having some success in fighting Big Finance landlords who have become big, ruthless players in rental housing.