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Andrew Kelly - 1 Carl Reichardt - 1 Matthew Bouley - 1 James Egan - 1 Morgan Stanley - 1 Egan - 1 homebuilders - 1 BTIG's Reichardt - 1
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Search resuls for: "James Egan"


6 mentions found


☆ Large US homebuilders raise prices as existing home supply remains tight
  + stars: | 2023-08-25 | by ( Ananta Agarwal | ) www.reuters.com   time to read: +3 min
It is thereby squeezing the pool of existing homes, which are typically more affordable than new construction. Public homebuilders on average have raised prices in about two-thirds of their communities, said BTIG analyst Carl Reichardt. This comes as the pricing gap between existing and new homes has narrowed, following a price appreciation in the resale market. "When the existing home market is seeing a price appreciation, it supports pricing power for new construction." However, as a consequence of recovery in new construction prices since last year, "affordability is close to its worst levels in at least the last three decades," said James Egan, Morgan Stanley housing strategist.
Persons: Andrew Kelly, Carl Reichardt, Matthew Bouley, James Egan, Morgan Stanley, Egan, homebuilders, BTIG's Reichardt, Ananta Agarwal, Shinjini Organizations: Lennar Corporation, REUTERS, Federal Reserve Economic, Lennar, PulteGroup Inc, U.S . Census, National Association of Realtors, Barclays, Thomson Locations: Morristown, Morristown , New Jersey, U.S, Bengaluru
☆ Goldman Sachs shares 4 cities that will suffer a 2008-size crash in home values — and breaks down why they believe home prices across the US will now fall further than they originally thought
  + stars: | 2023-01-24 | by ( William Edwards | ) www.businessinsider.com   time to read: +4 min
In some cities, the damage will be as bad as it was across the US in the mid-2000s, the bank said. Attention homeowners and real-estate investors, Goldman Sachs has bad news: home prices are going to fall further in 2023 than they had previously thought. Goldman SachsWhile Karoui, Viswanathan, and Walker see national home prices falling by 10% peak-to-trough, they see prices in cities where home values have soared above average falling more. What other firms are sayingGoldman Sachs isn't the only Wall Street bank calling for further home price declines in 2023. Morgan Stanley strategist James Egan said in a January note that he sees home prices falling by 4% in 2023 thanks to stagnant demand.
☆ An oil historian explains China's impact on a key Russian oil product — which is now trading far below the EU's price cap
  + stars: | 2023-01-10 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +6 min
In December, a $60-per-barrel price cap was established to limit how much cash Moscow could pull in from oil exports. But the country's key oil product is trading far below that level, which in one sense makes the cap moot. Russian President Vladimir Putin, center, speaks to workers while visiting the Rosneft oil refinery in the Black Sea port of Tuapse, southern Russia. But to Gregory Brew, a Kissinger Visiting Scholar at Yale, rather than being a direct consequence of any sanction measure, the steep discount reflects the easing global market. It isn't about what Russia can produce or how badly it's revenue is impacted by sanctions, but instead the focus should be on what kind of market Russia will be operating in.
☆ Morgan Stanley breaks down why home prices are due to drop in 2023 for the first time in over a decade — and shares 3 data points that are strikingly similar to the mid-2000s crisis
  + stars: | 2023-01-09 | by ( William Edwards | ) www.businessinsider.com   time to read: +3 min
In October, home prices rose 9.2% year-over-year, S&P Dow Jones Indices said in a December statement. Affordability is dropping at the quickest pace in decades, he said, as mortgage rates remain above 6% and home prices remain historically high. While new home supply has soared, existing-home supply has stayed relatively low, meaning total supply has stayed low. Housing supply is calculated by considering the number of houses available and the pace of home sales per month. Total months of supply remain at just four months, a level that has been historically associated with climbing home prices," Egan said.
☆ BiggerPockets’ housing-market guru says he sees home prices falling up to 10% over the next 12 months with housing affordability at four-decade-lows
  + stars: | 2022-10-26 | by ( William Edwards | ) www.businessinsider.com   time to read: +4 min
With housing affordability deteriorating, home prices are due to fall, says Dave Meyer. The BiggerPockets housing market expert said he expects a decline of up to 10% in prices. "Houses are just not affordable at these prices with these interest rates," Meyer said. Either mortgage rates would have to skyrocket, he said, or housing prices would have to continue on their torrid pace upward. Morgan Stanley strategists said in late September that they expect home price growth to end 2023 at -3% year-over-over.
☆ Morgan Stanley now expects home price growth to dip negative in 2023 as mortgage rates surge to their highest levels since 2007 — and shares 4 charts that show how extreme conditions in the housing ma
  + stars: | 2022-10-13 | by ( William Edwards | ) www.businessinsider.com   time to read: +5 min
Average 30-year mortgage rates, by some measures, now sit above 7%. Add Morgan Stanley to the list of firms who now expect a decline in home prices in 2023. "We now think that YoY home price growth will turn negative in the first half of the year before finishing 2023 at -3%," they added. Morgan StanleyThe Morgan Stanley strategists see that trend to continuing. That's assuming mortgage rates stay at 6%, which they estimate is probably a conservative level.
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