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Real Estate

Fed Adds $705 Million Agency MBS With Un-Unwind

The Federal Reserve's balance sheet unwind was MIA again this week as agency MBS increased with latest System Open Market Account Account Holdings report. SOMA January 24 holdings reflected a magical $705 million INCREASE in agency mortgage-backed securities. This is rather strange behavior indeed for what was advertised as a balance sheet "unwind". It's looking more like the un-unwind, at least for the past two weeks. Much like the crony capitalist elite dining in Davos, the fine purveyors of bogus economic theory inhabiting the halls of the Marriner Eccles building are probably a tad bit [...]

By |2018-01-26T16:14:43+00:00January 26th, 2018|DFW Real Estate, Economy, Housing Market, Housing Policy, In the Press, Mortgage Rates, New Home Sales, Real Estate, Spin Cycle, Texas Real Estate|0 Comments
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New Home Sales Get Reality Check In December As Median Prices Hit Record High

Following yesterday's relatively weak existing home sales numbers from NAR, December new home sales posted at at seasonally adjusted annual rate of 625,000. That was a 9 percent drop from the euphoric November new home sales numbers, which were revised sharply lower along with October numbers. The median price of a new home in the U.S. hit a new high of $335,400 while the average price rose to $398,900. Existing home sales continue to suffer from an acute shortage of inventory and inflated prices. New home sales, while still growing, are even more expensive compared [...]

By |2019-02-06T01:43:16+00:00January 25th, 2018|Dallas Tx Home Prices, Denton County Home Prices, Denton County New Homes, Denton County Real Estate, Denton TX Homes For Sale, Denton Tx New Homes, DFW Home Prices, DFW New Homes, DFW Real Estate, Economy, Existing Home Sales, Housing Market, New Home Sales, Real Estate, Relocation|0 Comments
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Balance Sheet Unwind Hits Reverse As Interest Paid To Banks Soars

True to form, the Federal Reserve is taking a rather cautious approach to their balance sheet unwind with this week's System Open Market Account (SOMA) report showing an INCREASE of a $million in the Fed's bloated account holdings. So much for unwinding!  If you were wondering how equity markets could be marching to new highs every week in the face of tepid organic economic growth, you have your answer. Today's inflation numbers show that the Federal Reserve still can't seem to generate any inflation in the economy, with core inflation rising only 1.8% year-over-year. Home [...]

By |2018-05-12T00:53:12+00:00January 12th, 2018|Collin County Home Prices, Dallas Tx Home Prices, Denton County Home Prices, Denton County Real Estate, DFW Home Prices, DFW Real Estate, Economy, Housing Market, Housing Policy, Politics, Real Estate, Texas Home Prices|0 Comments
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Another Fed “Senior Economist” Demonstrates Willful Ignorance

The Federal Reserve and its army of economists continue to demonstrate willful ignorance of their failed policies. This week it was the Kansas City Fed's Jordan Rappaport who penned another dose of misdirection on the housing market. Rappaport's piece, "Pent-Up Demand and Continuing Price Increases: The Outlook for Housing in 2018" is yet another example of how the Federal Reserve touts itself as a champion of real economy while they continue toe the line for Wall Street and wealthy investors. In the usual captured culture of Fed Mr. Rappaport lays out the theme of continued [...]

By |2018-01-11T20:18:49+00:00January 11th, 2018|Collin County Home Prices, Dallas Tx Home Prices, Denton County Home Prices, Denton Tx Home Prices, DFW Home Prices, DFW Real Estate, Housing Market, Housing Policy, In the Press, New Home Sales, Politics, Real Estate, Regulation, Spin Cycle, Texas Home Prices, Texas Real Estate, Video|0 Comments
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Fed Balance Sheet Unwind Proceeding At Snails Pace

The balance sheet unwind for the Federal Reserve is proceeding at a snails pace. After a rather large jump in the securities holdings last week, we should have seen a resumption in the balance sheet shrinkage. Interestingly the Fed's holdings of Treasury and mortgage securities only fell by $4.8 billion this past week. A look at the weekly System Open Market Account Holdings shows there is a lot of work to do in the last week of the year if the Fed is going to stick to it's stated unwind schedule. While the Fed has [...]

By |2022-01-05T03:39:49+00:00December 24th, 2017|Denton County Real Estate, DFW Real Estate, Economy, Housing Policy, Mortgage Rates, Mortgages, Real Estate, Spin Cycle|0 Comments
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Denton County Home Prices Closing Year On High Note

Denton County home prices and sales volume have remained strong into the holiday season. After experiencing a soft patch in September home sales in Denton County resumed their march higher. It would appear that home prices in the Denton area are poised to hit new highs at the end of the year if momentum continues. Median home prices in Denton were about 3 percent higher through November, while median prices in Denton County jumped 11 percent compared to a year ago. Average prices in Denton County also reflect a 10 percent increase through November. Denton [...]

By |2022-01-05T03:40:16+00:00December 15th, 2017|Denton County Home Prices, Denton Tx Home Prices, Denton TX Homes For Sale, DFW Home Prices, DFW Homes For Sale, Economy, Housing Market, In the Press, Real Estate, Texas Real Estate|0 Comments
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Mortgage Interest Deduction In Play, 2018 Housing Market Still Cloudy

The controversial mortgage interest deduction is still in play if you follow the back and forth in DC, and the picture for housing is still rather cloudy. There is a lot which could change depending on what Congress tries to ram through reconciliation in terms of the House and Senate tax sausage. Regardless of what Congress and the GOP approve, you can rest assured it won't stimulate job growth and it won't contribute to long-term economic growth. What we are seeing play out in the halls of DC and Wall Street right now is a [...]

By |2022-08-06T13:28:38+00:00December 7th, 2017|Economy, Education, Housing Market, Housing Policy, Mortgage Rates, Politics, Real Estate, Spin Cycle, Texas Real Estate|0 Comments
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Flattening Yield Curve & Spiraling Debt – What Could Possibly Go Wrong?

All is well in the land of rainbows and unicorns. At least that's the message being floated from DC and their Wall Street handlers. Apparently the economic "recovery" has been so robust that Janet and company at the FOMC have even starting to unwind that massive hedge fund, even if they are doing so at a snails pace. As Professor Anthony Sanders noted, at the current pace of normalization the Fed will manage to unwind the mess they have created in a mere 7 years. Despite all of the rhetoric about tax cuts and economic [...]

By |2022-01-05T03:40:44+00:00December 2nd, 2017|Economy, Housing Market, In the Press, Mortgage Rates, Politics, Real Estate, Spin Cycle, Texas Real Estate|0 Comments
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New Home Sales Jump In October, Average Prices Hit New High

New home sales continued to enjoy a hurricane-related boost in October. The Census Bureau reported new single-family home sales at a seasonally adjusted annual rate of 685,000, up 6.2 percent from revised September numbers and 18.7 percent higher than a year ago. The median price of a new home in October was $312,800 while the average price of a new home was $400,200. The talking heads will no doubt see this as a boon for the housing industry, and the numbers are certainly encouraging. That being said, I wouldn't read too much into the volatile [...]

By |2022-01-05T03:41:12+00:00November 27th, 2017|Collin County Home Prices, Dallas Tx Home Prices, Denton County Home Prices, Denton Tx Home Prices, Denton Tx New Homes, Development, DFW Home Prices, Economy, Existing Home Sales, Housing Market, In the Press, New Home Sales, Real Estate, Texas Home Prices, Texas Real Estate|0 Comments
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Average New Home Size Continues To Shrink

The National Association of Home Builders reported that the median and average size of a new home in the U.S. continued to decline in the third quarter. Third quarter numbers on housing starts show that the median single-family new home size was 2,378 square feet.  The average square footage for new single-family homes declined to 2,518 square feet. According to the NAHB, this is apparently just part of the normal housing cycle. "The post-recession increase in single-family home size is consistent with the historical pattern coming out of recessions. Typical new home size falls prior to and during a [...]

By |2022-08-06T13:45:04+00:00November 18th, 2017|Collin County Home Prices, Dallas Tx Home Prices, Denton County Home Prices, Denton Tx Home Prices, Denton TX Homes For Sale, Denton Tx New Homes, Development, DFW Home Prices, DFW Homes For Sale, Economy, Education, Housing Market, Housing Policy, Markets, New Home Sales, Real Estate, Spin Cycle, Texas Home Prices, Texas Real Estate|0 Comments
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