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Housing Policy

New Home Sales Jump 7 Percent In April But Momentum Is Fading

The Census Bureau reported new home sales in April which rose 7 percent compared to the same time a year ago. Sales (contract signings) for April posted at a seasonally adjusted annual rate of 673,000 units. This was close to expectations, but interestingly the April figure represented a rather large 7 percent drop from revised March numbers. The sales numbers for the previous three months were revised higher. The median price of a new home rose in April to $342,200, while the average price of a new home contracted in April rose to $393700. This [...]

By |2020-03-28T14:39:38+00:00May 23rd, 2019|Denton County New Homes, Denton County Real Estate, Denton Tx New Homes, Denton TX Real Estate, DFW New Homes, DFW Real Estate, Economy, Existing Home Sales, Housing Policy, In the Press, Mortgage Rates, New Home Sales, Politics, Regulation, Spin Cycle, Texas Real Estate|0 Comments
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Home Builder Confidence Not Confirmed By Housing Starts & Permits Data

This week the National Association of Home Builders reported improved confidence and business conditions among new home builders. With the big drop in mortgage interest rates, builders have been enjoying solid sales so far in 2019. NAHB chairman, Greg Ugalde, even said as much... “Builders are busy catching up after a wet winter and many characterize sales as solid, driven by improved demand and ongoing low overall supply...However, affordability challenges persist and remain a big impediment to stronger sales.” With mortgage rates just above 4 percent, the year-over-year interest rate comparisons are very favorable for [...]

By |2020-03-28T14:39:58+00:00May 16th, 2019|Denton County New Homes, Denton County Real Estate, Denton Tx New Homes, Denton TX Real Estate, DFW New Homes, DFW Real Estate, Economy, Housing Market, Housing Policy, Mortgage Rates, Spin Cycle, Texas Real Estate|0 Comments
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DFW Contract Activity Cools In April As Stimulus From Lower Rates Fades

DFW contract activity faded in April. Looking at the preliminary sales data for North Texas, it is apparent that the stimulus from the big drop in mortgage rates has run its course. It will be another week or so before we get the official press release numbers, but the data is telling. April was another good month for home sales. Actual closings for home sales showed a robust real estate market in the Dallas-Fort Worth area, but contract signings were another matter. Preliminary sales data indicate that the DFW real estate market is peaking prematurely [...]

By |2020-09-22T15:46:20+00:00May 1st, 2019|Dallas Tx Home Prices, Denton County Home Prices, Denton County Real Estate, Denton Tx Home Prices, Denton TX Real Estate, DFW Home Prices, DFW Real Estate, DFW Relocation, Economy, Housing Policy, Mortgage Rates, Politics, Spin Cycle|0 Comments
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Fed Says No Rate Hikes In 2019, Balance Sheet Drawdown Ending In September

The Jerome Powell cave is now a comical farce. Aside from using the word "patient" about 30 times in the March FOMC statement, Jerome Powell told us the Fed does not expect to hike interest rates at all in 2019. To top things off, the Fed balance sheet that was on autopilot at the end of last year will now end this September. In terms of the Fed's projections for the economy, growth was revised down and the unemployment rate was revised up slightly. "In light of global economic and financial developments and muted inflation [...]

By |2019-03-22T00:46:54+00:00March 21st, 2019|Denton County Real Estate, Denton TX Real Estate, DFW Real Estate, Economy, Housing Policy, Markets, Mortgage Rates, Spin Cycle, Texas Real Estate|0 Comments
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High-Income Renter Households Growing Faster In DFW

High-income households choosing to rent in the DFW area are growing faster than owner-occupied households. This is the news from a RentCafe picture of wealthy renter households in top U.S. cities. According to RentCafe, households making more than $150,000 have seen a 175 percent increase in renter-household growth between 2007 and 2017, comprising roughly 1.35 million households. Shifts in buyer mentality, housing availability, changing demographics and other factors are at play. It doesn't help that Federal Reserve policy has grossly distorted the U.S. housing market in many ways, causing affordable inventory shortages in many markets. [...]

By |2019-02-06T16:25:34+00:00February 6th, 2019|Denton County Homes For Rent, Denton County Real Estate, Denton TX Homes For Lease, Denton TX Real Estate, DFW Home Prices, DFW Homes For Lease, DFW Real Estate|0 Comments
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False Narratives About The Housing Market Refuse To Die

False narratives about the U.S. housing market refuse to die. Mainstream media and real estate industry shills continue to deflect attention from the complex, but at the same time rather simple reasons behind the lack of housing affordability. Politico author, Lorraine Woellert, offers us a perfect example of everything that is wrong with the U.S. housing market, including the mainstream media reporting on it. I hadn't come across this piece previously, but having  now read it, there are a number of red flags that are worth calling out. Woellert seems appropriately concerned that only wealthy [...]

By |2022-08-06T13:27:50+00:00January 12th, 2019|DFW Real Estate, Economy, Education, Housing Policy, In the Press, Spin Cycle, Texas Real Estate|0 Comments
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Markets Wobbling As Fed Normalization Hits $30 Billion Per Month In Q2

The markets were wobbling again this week, but regardless, the Fed normalization will hit $30 billion per month in April. I must confess that I get a good laugh when I hear market apologists and real estate pundits talk up the magnificent economy and housing market we are blessed with in Texas. Yes, things are pretty good here in the Lone Star State, and the DFW housing market still seems to have legs. Unfortunately the real economy is not nearly as robust as many talking heads and sell-side practitioners would have you believe. The March employment [...]

By |2018-04-06T23:20:16+00:00April 6th, 2018|DFW Home Prices, DFW Real Estate, Economy, Education, Markets, Mortgage Rates, Politics, Real Estate, Spin Cycle, Texas Employment, Texas Home Prices, Texas Real Estate|0 Comments
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Why Is The Fed Protecting The Stock Market?

The $11 billion increase in the System Open Market Account Holdings report for February 14 has caught the attention of a number of intelligent market watchers for obvious reasons. The Federal Reserve is purportedly in the midst of a significant balance sheet normalization process whereby they are (and plan to to continue) selling large amounts of Treasuries and agency mortgage-backed securities. After amassing a portfolio of over $4.4 trillion, the Fed has used that massive hedge fund to artificially suppress interest rates and foster some serious asset inflation. The Fed was not alone in this [...]

By |2018-05-12T00:51:24+00:00February 17th, 2018|Denton County Real Estate, DFW Real Estate, Housing Policy, In the Press, Markets, Mortgage Rates, Politics, Regulation, Spin Cycle, Texas Real Estate|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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