Some good news for Bay Area real estate … and my firm.
Archive for September, 2012
Get your cool back for the weekend with chilled-n-skilled guitar plus a horn section.
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 […]
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 […]
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 […]
2 key home price reports today.
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. […]
Get your cool back for the weekend with this source material for one of the great Beastie Boys songs.
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 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 […]