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Tag Archives: Real estate

Existing Home Sales Plunge; Biggest Year-on-Year Drop Since 2011

Here’s another sign that the air is coming out of housing bubble 2.0.Existing home sales fell 10.3% year-on-year in December. Sales, including single-family houses, townhouses, condos, and co-ops, dropped to a seasonally adjusted annual rate of 4.99 million homes, according to the National Association of Realtors. This ranks as the biggest year-over-year drop since May 2011 — in the midst of Housing Bust 1.0.Some analysts speculate that the partial US federal government shutdown...

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Building Houses on Rotten Foundations: SchiffGold Friday Gold Wrap 11.16.18

The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.You wouldn’t want to build a house on a rotten foundation, would you? Well, as Friday Gold Wrap Host Mike Maharey explains, the US economy has some rot in the foundation that the mainstream still hasn’t noticed. But if you look closely, you can see it. In this episode, Mike shines a flashlight...

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Is the Air Coming Out of Housing Bubble 2.0?

Peter Schiff put it pretty bluntly in a podcast last week. We don’t have a booming economy. We have bubbles. And it looks like the air is starting to come out of some of those bubbles. We see signs of trouble, particularly in interest rate-sensitive sectors such as real estate. As just one example, home sales in California have hit the lowest level in a decade. And it’s not just California. We’re seeing declines in many of the “most splendid housing bubbles” in America. Even more troubling...

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Risk vs. Return: Silver Looks Like a Good Bet

If you have the choice between an investment with low risk and a high potential for return, or an investment with high risk and a low potential for return, which would you take?The answer seems obvious, right? You want to take on the lowest risk possible while getting the best potential for a good rate of return.Well, if you factor risk levels into your investment calculation, buying silver looks like a good bet right now – especially when compared to stocks and real estate. As SRSrocco...

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Is This Why The Status Quo Disdains Bitcoin? – The “Wrong People Are Getting Rich”

Authored by Charles Hugh Smith via OfTwoMinds blog, The wrong people--rebels, outsiders, nerds and techies-- got on the cryptocurrency boat while their insider/rentier "betters" blew it and are now raging bitterly onshore. The psychology of money, wealth and speculative manias is endlessly fascinating. Most of what's written on these subjects focus on the process of building wealth as if it were a quasi-science rather than a psychologically driven...

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Is Amazon Killing NYC Retailers Or Is The ‘Rent Just Too Damn High?’

A few weeks ago, the office of Council Member Helen Rosenthal of New York's 6th District published the results of a business survey conducted on the Upper West Side that showed, among other things, that some 12% of retail store fronts lay vacant.  Of the 1,332 storefronts that we surveyed, we identified 1,170 active businesses -- 88%. Twelve percent of storefronts (161) were unoccupied. Please note that "unoccupied" includes recently closed businesses, as well as new spaces that were...

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Visualizing The Global Rush To Build Skyscrapers

As the creator of today’s visualization, Alberto Lucas López, points out, “the world’s tallest buildings have acted as barometers”. Another way of putting it? Our biggest architectural accomplishments are highly visible symbols of what society values most, and those values have changed over time. Today, the paramount belief system in many parts of the world is in capitalism, and there is no more potent marker of the economic might than fantastically tall commercial skyscrapers. Today’s...

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US Tax Cut and Rate Hikes Threaten China Currency

Authored by Valentin Schmid via The Epoch Times, Seven was the line in the sand. But the Chinese yuan never crossed that line vis-à-vis the U.S. dollar. It only crept up to 6.96 yuan per dollar on Dec. 16, 2016, before starting an impressive comeback, down to 6.5 in the middle of this year. Last year was a bad one for the Chinese economy. Growth was slow, and the world was worried China would finally land the hard way, as many have been predicting for years. And more than GDP growth or any...

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How To Survive Today’s Bubbly Market

Authored by James Rickards via Bonner & Partners, To paraphrase one of the great gems of Wall Street wisdom, “Nothing infuriates a man more than the sight of other people making money.” That’s a pretty good description of what happens during the late stage of a stock market bubble. The bubble participants are making money (at least on a mark-to-market basis) every day. Meanwhile, the more patient, prudent investor is stuck on the sidelines – allocated to cash or low-risk investments while...

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Proposed Legislation: Fannie And Freddie Are Here To Stay – There Is No Alternative

Since the US government nationalized the two GSEs in 2008 in a $187 billion bailout of the mortgage giants, there have been consistent calls for them to be wound down and for the private sector to fill the void. As we discussed, this view is, or was, shared by new Fed Chairman, Jay Powell. Mr. Powell has called on Congress to overhaul the housing finance system, saying he’d like to see the country’s two large mortgage-finance firms, Fannie Mae and Freddie Mac, move out from under government...

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