Month: August 2014
The Friday File: Yesterday was National Bow-Tie Day. Bow–ties were probably first worn by Croatian mercenaries and brought to Western Europe by French soldiers following the 30 Years War (1618-1648). This year about $850 million will be spent purchasing neckware…
Read MoreIn the complex fighting between Russia and Ukraine (R&U), there are unambiguous winners. Wheat is at its highest price in three weeks on fears that R&U, which collectively account for 20% of global wheat exports, may fail to get the…
Read MoreIn 2013, ND had the largest rise in Gross State Product; a staggering 9.7% followed by WY at 7.8%, WV at 5.1%, OK at 4.2% and ID at 4.1%. All but ID are energy-rich states. The worst performing state, AK…
Read MoreThe economic data released today were terrific. Two house price indices showed decelerating price appreciation which helps affordability. Consumer confidence is now as high as it was in 10/07 just before the Great Recession and manufacturing activity from MD through…
Read MoreFrom 1/1/14 through 7/31/14 new home sales totaled 266,000, down from 268,000 during the same period in 2013. Similarly, single-family starts are up just 3.2% year-to-date and single-family permits are up just 0.8% year-to-date. Single-family activity is, in part, so…
Read MoreAn article by Nichole DeMario and James McClister featuring Elliot Eisenburg posted on Chicago Agent Magazine.Read New Construction Update: How Job Growth, Population Growth and Different Generations Play into Today’s Market at chicagoagentmagazine.com.
Read MoreThe Friday File: The last time the Republicans won the White House without the name Nixon or Bush appearing on the ticket was in 1928, 86 years ago, when Herbert Hoover won with Charles Curtis as his Vice President. For…
Read MoreHousing sales peak in spring/summer, with price gains doing so as well. However, distressed sales, of which there have been many, occur relatively evenly all year. Therefore, distressed sales are highest as a percentage of all sales in fall/winter, thereby…
Read MoreSince 1947 real GDP growth has averaged 3.26%/year. Since 1/1/10 it’s averaged 2.3%. Economists think that some of the decline will persist for a while because of both slower productivity gains and population growth. Therefore, the neutral Federal Funds rate,…
Read MoreWhile 10-year U.S. Treasuries yield just 2.4%, yields on 10-year German government bonds are a ridiculously low 1%, and 10-year Japanese government bonds yield a microscopic 0.507%. Yields this low tell us markets think GDP growth will remain anemic in…
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