Bubbles

North Texas Housing Market Correction Taking Shape

A housing market correction is coming to North Texas. Don't say you weren't warned. The data points have been piling up for months. The only question remaining is how this all plays out, or more specifically how much pain the Fed is willing to tolerate. Inflation Rages Today's headline print for CPI inflation came in at a red-hot 7.5%. Despite many experts' assumptions that inflation would be moderating, core inflation has actually been increasing in each of the last three month's readings from the Bureau of Labor Statistics. Jerome Powell and the FOMC decided to [...]

AEI: The Fed is Misdiagnosing Monetary Policy’s Effect on the Housing Market

The American Enterprise Institute is taking the Federal Reserve to task for its bubble-blowing monetary policy. The AEI' latest report on housing market indicators is a wonderful composition detailing how Federal Reserve monetary policy has fueled massive home price appreciation and speculation in the the U.S. housing market. It's refreshing to see that others calling the Powell Fed out for blatantly obvious asset price distortions. With Powell continuing the denial and misdirection, the problems are likely to get worse before they get better. I would encourage you to read the entire AEI Housing Center report [...]

Hyper-Financialized DFW Housing Market Will Get Worse

The National Association of Realtors reported pending home sales for November slid 7.7 percent compared to a year ago. Of course the headline you probably saw in the media was the 0.7 percent drop compared to October's decline in contract signings. With the stock market poised to finish one of the worst Decembers in recent memory, you can rest assured the hyper-financialized Dallas-Fort Worth housing market is going to get worse before it fully recovers. Chief economist, Lawrence Yun, attempted to diffuse concerns about sliding sales numbers in November in NAR's latest press release, but [...]

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