Archive for September, 2012

Keeping Up With The Wells-es

Some good news for Bay Area real estate … and my firm.

Friday Funk: Boogaloo Joe – by Joe Jones

Get your cool back for the weekend with chilled-n-skilled guitar plus a horn section.

Real Personal Income, Chicago PMI and Consumer Sentiment All Lower

Personal Income and Outlays (August 2012) Personal Income – Month/Month +0.1% Consumer Spending – Month/Month +0.5% PCE Price Index — Month/Month +0.4% Core PCE price index – Month/Month 0.1% Nominal Income was up slightly.  Real (inflation adjusted) income was down. Higher gas prices made real income lower.  Factoring out food and gas real income was […]

Initial Jobless down. GDP, Durable Goods, and Pending Home Sales Weak.

Jobs Initial Jobless Claims (week ended 9/22/2012) – Initial Claims 359,000.  Previous revised up to 385,000 – 4-week Moving Average 374,000.  Previous was 378,500. This would be good news except for the following. GDP (2ndQ2012)   – 2ndQ2012 GDP was revised downward from +1.7% to +1.3%.  There are two distinct issues:  1) what is happening […]

New Home Sales Flat

Housing New Home Sales (August 2012) – 373,000 Seasonally Adjusted Annualized Rate – Previous was 374,000 Mortgage Bankers Association Applications (week ended 9/21/2012) Purchase Index – Week/Week +1.0% Refinance Index – Week/Week +3.0% Composite Index – Week/Week +2.8% Bloomberg headlines with “Sales of New U.S. Homes Hover Near a Two-Year High” which I suppose is […]

Home Prices up (CHARTS)

2 key home price reports today.

Two Regional Fed Reports Show Weakening

Chicago Federal Reserve National Activity Index (August 2012) – Index Level was -0.87.  Previous was -0.12 – 3 Month Moving Average was -0.47 This data is weak showing declines in Industrial Production and Capacity Utilization and indicative of wear 3rdQ2012 GDP growth. Dallas Federal Reserve Manufacturing Survey (September 2012) – Business Activity Index was -0.9.  […]

Friday Funk: Rien Ne Va Plus – Funk Factory

Get your cool back for the weekend with this source material for one of the great Beastie Boys songs.

Jobs Weak, Leading Indicators Weak

Jobs Initial Jobless Claims (week ended 9/15/2012) – Initial Claims 382,000.  Previous was revised upward to 385,000 – 4-Week Moving Average 377,750 The jobs market is weak and, with recession likely in Europe, we will be reminded that we have a world economy. With average unemployment in the EU nations over 10% those folks much […]

Housing Start Weak, Existing Home Sales Increase

Housing Starts (August 2012) – Housing Starts  750,000.  Previous was revised to 733,000.  This is an increase but below expectation. Housing Starts are in units (a 40-unit apartment building is 40 Housing Starts) and the data is Seasonally Adjusted and annualized.  The 750,000 Starts included 208,000 apartment units (5+ units in a single building) and […]

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