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- Homebuilder stocks take a beating | 2013-08-21 | HousingWire
Markets went haywire after the Federal Reserve gave investors a peek at the latest Federal Open Market Committee meeting minutes.
The minutes released Wednesday showed a solid majority of FOMC members on board with Chairman Ben Bernanke's proposal to ease back on mortgage-bond purchases in the fall if emerging data still supports the decision.
In response, the HW 30 stock index took a beating Wednesday afternoon.
We can't overemphasize that the word "if" means if because data may not support the decision. Also, the decision had not been made that the then data supported a decision to taper in the near future. It was Ben Bernanke simply saying (issuing redundant foward guidance) that when the time comes, they will taper. He floated a lead balloon — lead because it was premature in our view in that it needlessly spooked a weak recovery.
Read the source article … http://www.housingwire.com/articles/2634 6-homebuilder-stocks-take-a-beating
- Red-hot housing market is cooling slightly – latimes.com
price gains in the double digits that were commonplace in coastal California, Phoenix, Las Vegas, Washington, D.C., and parts of Florida starting two years ago have gradually begun to self-correct. When prices get out of reach of growing percentages of borrowers, demand slacks off and price increases slow down. That's the trend taking hold now, Nothaft said. Sales should continue to see "healthy" growth and prices should continue to rise, he said, "but the percentages will be less."
Let's not forget the impact of Ben Bernanke's taper talk. It sent mortgage rates up at a historical rate. Doubtful that was an intentional consequence of Ben's speech, to slow the expanding mini-bubbles.
Anyway and even as landlords, we really don't want bubbles growing more than the local ones already had. The general health of the economy is too important to sacrifice for a few.
Read the source article … http://www.latimes.com/business/realesta te/la-fi-harney-20130825,0,570362.story
- Sober Look: Consumer sentiment in the US has peaked
With a sharp rise in interest rates (see chart) and with gasoline prices still elevated after a spike this summer (see chart), it is increasingly important to track the US consumer sentiment. Given the anemic post-recession growth, additional weakness in consumer spending could be bad news for the economy. And while confidence remains near multi-year highs, a number of sentiment measures seem to indicate that American consumer confidence has peaked earlier this summer.
Read the source article … http://soberlook.com/2013/08/consumer-se ntiment-in-us-has-peaked.html
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