New Home Sales Rebound In May

The Census Bureau reported a rebound for new home sales in May. New residential home sales posted at a seasonally adjusted annual rate of 610,000. This was 2.9 percent higher than the revised April numbers and 8.9 percent higher than a year ago. The median price of a new home contracted in May was $345,800 while the average new home … Read More

Katy Area Rents Continue Downward Trend In January

Katy Rent Prices

Katy rent prices continued their downward trend in January. Preliminary data for closed leases in Katy’s relocation market indicate a year-over-year price drop of more than 5 percent. As noted in the chart above, closed lease prices in Katy’s most popular master-planned community were the lowest they have been in years in January, even below the weakest numbers seen in … Read More

Air Pocket Coming To A Housing Market Near You

Cane Island New Homes

The Federal Reserve’s 25 basis point rate hike was widely anticipated. What is less appreciated is the slack it’s going to create in Houston home sales as we head into the first quarter of 2017.  This week the Houston Association of Realtors reported record November home sales. Both the median ($222,000) and average ($281,671) home price hit new record highs in … Read More

Pyrrhic Victory – New Leader Faces Challenges Galore

Regardless of who wins the side-show today, it will be a pyrrhic victory. If we have learned anything from this election cycle it’s the undeniable fact that America’s economic system is broken and that it no longer serves the interest of the general public. Decades of failed policies designed to keep a consumer-oriented, debt-based economy moving forward have masked a … Read More

Peak Auto? October Motor Vehicle Sales Decline

Preliminary October home sales numbers for Houston indicate volume is still holding steady even if prices are taking it on the chin. U.S. motor vehicle sales appear to have already topped out with October sales declines for all of the major U.S. automakers. Car sales in the Houston area are now down 22.6 percent year-over-year. Looking at a chart of … Read More

Texas Housing Market Meets The Fed’s ‘Game of Thrones’ Economy

The latest issue of Tierra Grande is out, and it contains more examples of the Federal Reserve’s fingerprints on the Texas housing market. This new batch of evidence is contained in an article titled ‘Game of Homes – The Supply-Demand Struggle’. What is thoroughly entertaining is that the two Dallas Fed employees (both recent college graduates apparently) working on this … Read More

What’s Wrong With The U.S. Housing Market – The Panama Connection

It’s always entertaining to see a crony capitalist tool for our too-big-to-fail banking system get schooled by someone who knows where the bodies are buried. Intelligent people like Professor William K. Black and Senator Elizabeth Warren might not be the most uplifting guests at your next dinner party, but they do know a thing or two about how our current … Read More

What Happened To The U.S. Housing Market? It All Boils Down To Fraud

The stagflation of the U.S. housing market has been fascinating to watch. All across the country middle class families have been priced out of the market as hot money has continued to flow in from equity markets both here and abroad. We have been fortunate here in Houston Texas that things aren’t nearly as crazy as the bubbles you’ll see … Read More