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Mortgage Loan Originations Lowest Since November 2008, Down 60% Year-Over-Year, Cash Sales Strong

MishTalk

2008 (down 60% Y/Y) Property sales remained relatively strong (total year 2013 was up 8.4% from 2012), supported by increased cash purchases (which accounted for more than 40% of Q4 sales) HARP origination volume has declined significantly (down 70% Y/Y), with fewer existing loans now eligible for the program: approx.

Sales 74
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Hilarious Transcripts of Fed Minutes from 2008 Reveal Completely Clueless Fed

MishTalk

Here is a list of FOMC Transcripts and Other Historical Materials, 2008 Notes I purposely cherry picked statements of various Fed governors. Amazingly, Bernanke spoke of pent-up demand for housing in January of 2008 The January 29-30 transcript was a whopping 194 pages long. percentage point to GDP growth in 2008 and 0.3

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Homebuilders Have Most Speculative Unsold Inventory Since May of 2008

MishTalk

Homebuilder inventory of started and completed homes is soaring but sales are weak.

Sales 87
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Mish's Global Economic Trend Analysis: European Car Sales.

MishTalk

European Car Sales Plunge to 20-Year low. Amidst all the happy talk that Europe is on the verge of some sort of recovery, here is yet another counterpoint: European Car Sales Plunge to 20-Year Low. in June, bringing total sales for the first six months of the year to just 6.44 Among smaller markets, sales plunged 42.7%

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Retail Sales Rise in Germany and France, Decline in Italy

MishTalk

Retail Sales Rise in Germany and France, Decline in Italy; Margin Squeeze in Germany and France. Italy: Sharpest drop in retail sales since April. In Italy, Markit reports Sharpest drop in retail sales since April. Rate of decline in retail sales accelerates for second straight month. Tuesday, July 30, 2013 11:17 AM.

Retail 67
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Mortgage REITs Clobbered as Leverage Forces Sales

MishTalk

Mortgage REITs Clobbered as Leverage Forces Sales. REITs Deepening Bond Losses as Leverage Forces Sales. Bloomberg reports REITs Deepening Bond Losses as Leverage Forces Sales. Mortgage REITs Clobbered as Leverage Forces Sales. December 2008 (85). November 2008 (78). October 2008 (108). May 2008 (73).

Sales 69
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Consultant Ninja: Thee Sunbeam method of Government Stimulus.

Consultant Ninja

After a quick spike of sales, future demand will be lower. So the effective cost per incremental new house sale was $43,000. 2010-Present: Off the road 2009 Stats: Airline Miles: 24,902 Nights away from home: 73 (of 216: 34% of nights) AMEX Charges: $21,220 2008 Stats: Airline miles: 87,589 Nights away from home: 159 (of 365: 43.6%