The new reality of a post-stimulus world:
Rich people have gotten richer and continue to spend more than everyone else.
Currently, the top 20% of incomes account for almost 40% of consumer spending.
Meanwhile, the second lowest and lowest income quintiles account for just 21% of consumer spending.
This is exactly why many consumers feel like the economy is bad.
All while we have the most unaffordable housing market in history with inflation still above 3%.
Affordability is horrible for most peop...
Rich people have gotten richer and continue to spend more than everyone else.
Currently, the top 20% of incomes account for almost 40% of consumer spending.
Meanwhile, the second lowest and lowest income quintiles account for just 21% of consumer spending.
This is exactly why many consumers feel like the economy is bad.
All while we have the most unaffordable housing market in history with inflation still above 3%.
Affordability is horrible for most peop...
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UK's Financial Conduct Authority (FCA) allows crypto-backed exchange-traded notes (ETNs) on recognised investment exchanges.
Crypto ETNs will be exclusive to professional investors, including authorized investment firms and credit institutions.
FCA emphasizes the risks associated with crypto ETNs for retail investors, maintaining a ban for this group.
Exchanges are required to ensure orderly tradin...
Crypto ETNs will be exclusive to professional investors, including authorized investment firms and credit institutions.
FCA emphasizes the risks associated with crypto ETNs for retail investors, maintaining a ban for this group.
Exchanges are required to ensure orderly tradin...
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Home ownership costs have DOUBLED in 4 years according to Zillow:
The typical mortgage payment is up 7.2% over the last year and a whopping 103% since pre-pandemic.
Currently, the median sales price on a home in the US is $417,700.
This means that a mortgage payment on the median home would cost you $2,269/mo assuming 20% down.
When you factor in taxes, insurance and other ownership costs it's nearly $3,000/mo.
That's ~50% of the median PRE-TAX household income.
Clearly, this is a crisis. $SPDR S&P 500 ETF (SPY.US)$ $Invesco QQQ Trust (QQQ.US)$ $S&P 500 Index (.SPX.US)$ $Dow Jones Industrial Average (.DJI.US)$ $Nasdaq Composite Index (.IXIC.US)$
The typical mortgage payment is up 7.2% over the last year and a whopping 103% since pre-pandemic.
Currently, the median sales price on a home in the US is $417,700.
This means that a mortgage payment on the median home would cost you $2,269/mo assuming 20% down.
When you factor in taxes, insurance and other ownership costs it's nearly $3,000/mo.
That's ~50% of the median PRE-TAX household income.
Clearly, this is a crisis. $SPDR S&P 500 ETF (SPY.US)$ $Invesco QQQ Trust (QQQ.US)$ $S&P 500 Index (.SPX.US)$ $Dow Jones Industrial Average (.DJI.US)$ $Nasdaq Composite Index (.IXIC.US)$
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Is housing inflation set to rebound?
Many leading indicators say so, including the Case Shiller index which shows housing inflation at 5%.
Also, in September we saw rent prices begin to peak, with just 30% of cities posting rent growth.
Recently, it's been increasing rapidly with nearly 55% of cities posting rent growth.
Asking rents in the US overall are also rising, up ~2% year-over-year in January.
Housing affordability is still getting worse.
$S&P 500 Index (.SPX.US)$ $Dow Jones Industrial Average (.DJI.US)$ $Nasdaq Composite Index (.IXIC.US)$ $SPDR S&P 500 ETF (SPY.US)$ $Invesco QQQ Trust (QQQ.US)$
Many leading indicators say so, including the Case Shiller index which shows housing inflation at 5%.
Also, in September we saw rent prices begin to peak, with just 30% of cities posting rent growth.
Recently, it's been increasing rapidly with nearly 55% of cities posting rent growth.
Asking rents in the US overall are also rising, up ~2% year-over-year in January.
Housing affordability is still getting worse.
$S&P 500 Index (.SPX.US)$ $Dow Jones Industrial Average (.DJI.US)$ $Nasdaq Composite Index (.IXIC.US)$ $SPDR S&P 500 ETF (SPY.US)$ $Invesco QQQ Trust (QQQ.US)$
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Rep: 1,905k 🚨HIGHER THAN EXPECTED🚨
Exp: 1,874K
Prev: 1,860k (revised down from 1,889k)
Continuous claims came at 1,905k which is 45,000 higher than last weeks revised 1,860k. $Invesco QQQ Trust (QQQ.US)$ $SPDR S&P 500 ETF (SPY.US)$
Exp: 1,874K
Prev: 1,860k (revised down from 1,889k)
Continuous claims came at 1,905k which is 45,000 higher than last weeks revised 1,860k. $Invesco QQQ Trust (QQQ.US)$ $SPDR S&P 500 ETF (SPY.US)$
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Pending home sales are officially back below 2008 levels in the US.
January pending home sales fell 6.9% year-over-year and stand right above the record low.
This helps explain why mortgage demand has been down for 5 straight weeks to its lowest level since 1995.
Interestingly, pending home sales fell the most in the South and Midwest, by 7.3% and 7.6% respectively.
However, they climbed by 0.8% in the Northeast and 0.5% in the West.
Housing is simply unaffordable.
$Zillow-C (Z.US)$ $Real Estate (LIST20762.US)$
January pending home sales fell 6.9% year-over-year and stand right above the record low.
This helps explain why mortgage demand has been down for 5 straight weeks to its lowest level since 1995.
Interestingly, pending home sales fell the most in the South and Midwest, by 7.3% and 7.6% respectively.
However, they climbed by 0.8% in the Northeast and 0.5% in the West.
Housing is simply unaffordable.
$Zillow-C (Z.US)$ $Real Estate (LIST20762.US)$
Updated U.S. home price forecasts by Fannie Mae and Freddie Mac
2024 👇
Freddie Mac: +2.6% (previously +2.8%)
Fannie Mae: +3.2% (unchanged)
2025 👇
Freddie Mac: +2.1% (previously +2.0%)
Fannie Mae: +0.3% (unchanged)
$ARMOUR Residential REIT Inc (ARR.US)$ $FREDDIE MAC (FMCC.US)$
2024 👇
Freddie Mac: +2.6% (previously +2.8%)
Fannie Mae: +3.2% (unchanged)
2025 👇
Freddie Mac: +2.1% (previously +2.0%)
Fannie Mae: +0.3% (unchanged)
$ARMOUR Residential REIT Inc (ARR.US)$ $FREDDIE MAC (FMCC.US)$
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New home sales ticked up in January, despite a twin burden imposed by elevated mortgage rates and expensive housing prices, according to U.S. Census data released on Monday.
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Prior was 664K (revised to 651K)
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Sales up +1.5% vs +8.0% prior
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Supply at 8.3 months vs 8.3 months prior
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Median sale price $420.7K vs $432.1K a year ago
Mortgage-purchase applications fell 10% from a week earlier, data from the Mortgage Bankers Associatio...
Mortgage-purchase applications fell 10% from a week earlier, data from the Mortgage Bankers Associatio...
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$SPDR S&P 500 ETF (SPY.US)$ 🇺🇸 🇺🇸
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