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- At 42 months and counting, current job “recovery” is slowest since Truman was president | Pew Research Center
There are a lot of ways to gauge how bad the Great Recession was and how slack the recovery has been, from the stagnation of household incomes to the increase in young adults living with their parents. But perhaps no metric hits more people harder than jobs — specifically, how many were lost and how slowly they are coming back.
In fact, not only were more jobs wiped out in the Great Recession than any other post-World War II downturn — 8.7 million, or 6.3% of the pre-recession peak payroll — but it’s taking longer to regain them than it did in the previous two post-recession recoveries combined.
- Home gold rush is over | Unstructured Finance
This is very important news.
By Matthew Goldstein … The pressure keeps building on small players in the buy-to-rent trade to cash out and flip the foreclosed homes they snapped up to the biggest investors in the space.
The news that Oaktree Capital Management and Carrington Mortgage Services are putting the 500 homes they’ve acquired and leased out up for bid may well be an indication of more to come. With increases in rents leveling off, the economics of buying single-family homes to rent them out becomes more dicey—especially given the 20% or greater surge in home prices in the markets favored by investors .
with the various attempts at monetizing the trade either not doing well or taking long to come to fruition, the temptation for smaller firms to sell to larger rivals mounts. The gold rush that began nearly two years ago is coming to an end.
Read the source article … https://blogs.reuters.com/unstructuredfi nance/2013/09/24/home-gold-rush-is-over/
- Low household formation curbs homebuilding: Bloomberg (Video) – Milwaukee – The Business Journal
The is a pretty good analysis.
Jed Kolko, chief economist at Trulia Inc., talks about the outlook for the U.S. housing market. Kolko speaks with Erik Schatzker and Stephanie Ruhle on Bloomberg Television’s “Market Makers.”
However, we aren’t sure that as the youth age, even if they do get the income and savings, that they will necessarily duplicate the pre-crash pattern of buying versus renting, at least not necessarily at the same rate. It remains to be seen, and we’d be somewhat cautious about over building the “traditional” 3 bedroom, 2 bath houses that were so standard pre-crash.