Reign Of Economic Error Continues To Plague Housing Market

New Home Sales

The reign of economic error holding back the U.S. housing market was on display again this week. New home sales for December came in well below estimates, falling 10 percent from the November euphoria. The National Association of Realtors reported that existing home sales softened to a seasonally adjusted annual rate of 5.49 million in December. That was a 2.8 … Read More

Houston Home Prices Rolling Over In Sea Of Financialization

US Homeownership Rate

As Houston home prices roll over in many submarkets across the area, it is interesting to see the pundits and establishment players parade and endless supply of “fake news” to offer the impression that Houston’s real estate market is still a relative bargain. This weekend I came a across a rather humorous piece of “sponsored content” from a major real … Read More

Fed Looks At Texas’ Affordable Housing Problem, Fails To Look In The Mirror

The Federal Reserve can be commended on one thing. They never cease to provide entertainment in terms of their complete ineptitude and functional obsolescence. The Fed continues to show no remorse for the damage they have inflicted on the¬†general population and their destruction of what was formerly known as the U.S. housing market. The latest comedy from the Fed comes … Read More

Houston Luxury Condo Market Could Get Pummeled With FinCEN Expansion

Houston Condo Market

The Houston luxury condo market is looking ripe for a correction. In a previous post I detailed how the latest profile of foreign buyers of U.S. real estate was a textbook case of money laundering in plain sight. As it turns out I wasn’t the only one to notice this interesting development creating some seriously large bubbles in attractive U.S. … 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

NAR: Existing Home Sales Fizzle In February As Affordability Evaporates

The National Association of Realtors reported that existing home sales fizzled in Februrary, falling to a seasonally adjusted annual rate of 5.08 million. This was a sharp decline from January numbers but 2 percent higher than a year ago. NAR’s chief economist, Lawrence Yun, mentioned the stock market, poor weather on the East coast, as well as supply and affordability … Read More

Million Dollar Shack: Insanity In Silicon Valley Drives Middle Class Families Out Of The Market

This is nice little documentary from Michelle Joyce, a middle-class mom living in Silicon Valley. Michelle does a nice job bringing the issues of our national housing policy into the public conversation. Michelle and her husband, like many of their friends, have been priced out of the neighborhood. Unfortunately current housing policy continues to favor wealthy tech titans and investors … Read More

Warren: HUD Should Restrict Sale Of Loans To Private Equity And Hedge Funds

Senator Elizabeth Warren continues to be one of the few rational voices in Washington. Her latest call for HUD to clean up their act on the sale of soured loans is yet another example. The Department of Housing and Urban Development (HUD) has sold over $17 billion in troubled loans in the last 5 years, with roughly 95 percent of … Read More