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☆ Luxury home sales plunge 45%, with Miami and the Hamptons hit hardest
▼ + stars: | 2023-03-10 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

The U.S. housing market is taking a hard hit from higher mortgage rates, and luxury home sales are seeing the worst of it. Sales of luxury homes dropped 45% during the three months ended Jan. 31 compared with the same period the year before, according to Redfin, a real estate brokerage. Redfin defines luxury homes as those estimated to be in the top 5% based on the estimated market value. Miami, which had seen a massive influx of wealthy buyers migrating from the Northeast in the earlier days of the Covid pandemic, saw sales drop nearly 69%. While not all luxury buyers use mortgages, they are affected by the broader economy, and more specifically the stock market.

☆ A major inflation report and fallout from Silicon Valley Bank hang over markets in week ahead
▼ + stars: | 2023-03-10 | by ( Patti Domm | In | ) www.cnbc.com time to read: +7 min

February's consumer inflation report should be a big driver for markets in the week ahead, as investors watch for continued fallout from the shutdown of SVB Financial Group's Silicon Valley Bank. The consumer price index report on Tuesday is the last major inflation data ahead of the Federal Reserve's March 21 and 22 meeting. Silicon Valley Bank's troubles overshadowed nearly everything else in markets Thursday and Friday, as investors sought safety in the bond market and sold bank stocks. Those odds had been as high as 70% before the Silicon Valley Bank news began to hit the market. Now inflation data is being watched carefully since a very hot number could mean the Fed will become more aggressive.

☆ Some of Wall Street's top commentators fear a recession is at hand as rates set to go higher for longer
▼ + stars: | 2023-03-09 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Yesterday on Capitol Hill, Jerome Powell reiterated his warning that the Fed's more than ready to keep jacking up rates if necessary. Inflation hasn't gone away as easily as policymakers want, and Powell thinks that may just warrant a steeper policy path. That's not the most reassuring assessment of the situation as some of the biggest commentators in markets are saying a recession is right around the corner. The exec also broke down how to use the strategy in today's stock market to make extremely cheap bets that garner "through the roof" returns. Fannie Mae's Home Purchasing Sentiment Index dropped this week while mortgage rates moved higher.

☆ Jim Cramer's top 10 things to watch in the stock market Wednesday: Powell Day 2, strong jobs
▼ + stars: | 2023-03-08 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

Barclays raises price target on Zillow (Z) to $30 per share from $24 but keeps underweight (sell) rating. Industrial gas and engineering giant Linde (LIN) gets another price target boost: UBS goes to $410 per share from $375. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ Housing Market Momentum Stalls as Critical Spring Season Approaches
▼ + stars: | 2023-03-06 | by ( Nicole Friedman | ) www.wsj.com time to read: 1 min

Rising mortgage rates are cooling the U.S. housing market, sapping recent buyer interest heading into the crucial spring selling season. Economists, home builders and real-estate agents saw evidence of a thaw in early 2023, when rates declined from over 7% in November to 6.09% in early February. That was enough to lure back some buyers who had adjusted to higher borrowing costs.

☆ Will Home Prices Drop in 2023?
▼ + stars: | 2023-03-03 | by ( ) www.wsj.com time to read: +5 min

As of January, prices were down 13% from that June high, according to the National Association of Realtors. Will home prices drop in 2023? The University of California San Diego, for example, predicts prices will drop 5% nationally and as much as 18% in some cities. As a result, the U.S. housing market has been short on for-sale listings for more than a decade. “This is the easiest way to find out if you got a good price on your home in comparison to what else is on the market.”Finally, understand your finances.

☆ Foreign Buyers, Who Nearly Disappeared During Covid, Finally Return to the U.S. Housing Market
▼ + stars: | 2023-03-02 | by ( Katherine Clarke | ) www.wsj.com time to read: 1 min

Alice-Christine Merenda and her family, who live in Munich, Germany, had been thinking of moving to the U.S. for years. A professional translator and interpreter, she said she and her husband, Stefano Merenda, wanted to raise their four children bilingually and admired the freedoms U.S. citizens had amid the Covid onslaught, when Germans were completely confined to their homes. Then, the war in Ukraine began.

☆ A year later, the Fed still has a long way to go in the fight against inflation
▼ + stars: | 2023-03-01 | by ( Jeff Cox | ) www.cnbc.com time to read: +9 min

The rate hikes appeared to have quelled some of the inflation surge that inspired the policy tightening. Indeed, Fed officials for months stuck to the narrative that inflation was "transitory" and would abate on its own. Fed Chairman Jerome Powell recently insisted that he and his colleagues are taking "forceful steps" now to bring down inflation. The index most recently showed an annual inflation rate of 6.4%, down from a peak around 9% in the summer of 2022. Citigroup economist Andrew Hollenhorst thinks the Fed could tame key inflation metrics to around 4% by the end of this year.

☆ Morning Bid: Hang on a minute
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +4 min

And so a speech from New York Fed chief John Williams make give a better steer on current thinking. Markets are now priced for a Fed 'terminal rate' in the 5.25-5.50% range by July and no cut from there by year-end. European central bankers are also talking tough as the region's economies dodge recession and inflation stays high. But geopolitical concerns rankle again ahead of Friday's anniversary, with Russia unilaterally withdrawing from a key nuclear arms control treaty. As G20 finance chiefs meet in India, the world is watching closely the extent of the alliance between Beijing and Moscow.

☆ Jim Cramer's top 10 things to watch in the stock market Wednesday: Fedspeak, stocks bounce, Palo Alto beats
▼ + stars: | 2023-02-22 | by ( Jim Cramer | ) www.cnbc.com time to read: +5 min

As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. ET: Q&A with Jim and Jeff Marks on general investing, market thoughts, education11:30-12:15 p.m. ET: Jim and Jeff discuss the portfolio (Part 2)2:15-2:45 p.m.

☆ U.S. Home Sales Fall for 12th Straight Month
▼ + stars: | 2023-02-21 | by ( Nicole Friedman | ) www.wsj.com time to read: 1 min

Home-shopping activity increased in January and early February, real-estate agents said. The U.S. housing market weakened in January for the 12th straight month as continued high mortgage rates kept buyers on the sidelines. Sales of previously owned homes, which make up most of the housing market, fell 0.7% in January from the prior month to a seasonally adjusted annual rate of 4 million, the slowest since October 2010, the National Association of Realtors said Tuesday. January sales fell 36.9% from a year earlier.

☆ U.S. existing home sales fall in January, but pace slowing
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Feb 21 (Reuters) - U.S. existing home sales dropped to a more than 12-year low in January, but the pace of decline slowed, raising cautious optimism that the housing market slump could be close to reaching a bottom. Home resales, which account for a big chunk of U.S. housing sales, plunged 36.9% on a year-on-year basis in January. The housing market has been the biggest casualty of the Federal Reserve's aggressive interest rate hiking campaign. It will, however, be a while before the housing market turns around. At January's sales pace, it would take 2.9 months to exhaust the current inventory of existing homes up from 1.6 months a year ago.

☆ Home Depot warns of weak 2023 profit as rising prices hurt demand
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +2 min

1 U.S. home improvement chain posted a surprise drop in fourth-quarter comparable sales, sending its shares down more than 4% in premarket trading. Shares of smaller rival Lowe's Cos Inc (LOW.N) also slipped after Home Depot's dour forecast amid a strained U.S. housing market. Wall Street analysts have warned that home improvement chains are set for a challenging 2023. Home Depot said comparable sales fell 0.3% in the fourth quarter ended Jan. 29, compared with analysts' average estimate of a 0.56% increase. Home Depot said it would spend an additional $1 billion in annualized compensation for its frontline, hourly associates, starting from the first quarter of 2023.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe rise of corporate landlords in the U.S. Some congressional lawmakers want to limit large corporations in the single-family housing market. These groups have been active in the Sun Belt's suburbs, which are traditionally the domain of individual investors. Industry lobbyists claim that new proposals from Washington would worsen the U.S. housing supply. Meanwhile, the Wall Street groups have profited from higher than average rent hikes in their target markets while leveraging government-backed financing and tax credits.

☆ In this volatile housing market, here's how to know when the bottom is in
▼ + stars: | 2023-02-18 | by ( Tim Mullaney | ) www.cnbc.com time to read: +13 min

"People for the most part have come to terms with interest rates." No return of 2008, or 3% mortgage rate The biggest reason why housing prices aren't plunging like they did after 2008? At current levels, the Housing Affordability Index says the median buyer can afford the median U.S. home — but barely. Having seen 6 percent interest rates when she bought her first place in 2007, she's not daunted by today's rates, she said. "People have wrapped their heads around where interest rates are, and they have adapted," Fisher said.

☆ Premarket stocks: Don't underestimate the American shopper
▼ + stars: | 2023-02-16 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

All that extra cash should support strong spending through February and perhaps March, said Bank of America analysts. That means the Fed may use the strong data as an excuse to keep hiking interest rates. Recession risk may be deferred, but it certainly hasn’t dissipated.”PPI, housing starts and bald spots: What investors are watching today▸ Thursday morning brings two big data releases: The January Producer Price Index and housing starts. ▸ Housing starts, a measure of new home construction, have declined every month since August. Housing starts are expected to decline slightly.

See Insider's picks for the best CD rates »1. The interest rate caught my eyeCDs are supposed to offer better rewards for your savings. In previous years, I never really considered using one since the interest rates always seemed so low. Other online banks are offering higher CD rates right now too, so I definitely shopped around. Our CD money will come in handy whenever we do buy a home again and need extra money to cover various costs.

☆ Here's what's happening with home prices as mortgage rates fall
▼ + stars: | 2023-02-10 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +4 min

According to two separate indices existing home prices rose to the highest level in 6 years. Joe Raedle | Getty ImagesThe U.S. housing market cooled off pretty dramatically last year, after mortgage rates more than doubled from historic lows. Now, as demand appears to be coming back into the market, due to a slight drop in mortgage rates, prices are pushing back. But mortgage rates began to fall in December, and prices reacted immediately. Lower mortgage rates are driving the new demand.

☆ A global recession could be coming - at least that's what commodity prices seem to say
▼ + stars: | 2023-02-09 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Right now, the chief economist at the Institute of International Finance, Robin Brooks, is watching weakening commodity prices. Specifically, Brooks pointed out that oil and copper prices have slumped roughly 6% each since mid-January, despite China's easing of zero-COVID policies. "Whatever is going on in China, there's no sign that the end of zero-COVID is boosting global growth, based on commodity prices," Brooks said in a tweet. "Oil prices never went up and copper prices are falling after the initial China reopening excitement fades." He pointed to the sharp change in oil prices last week as an example of shallower liquidity.

Wall Street giant Goldman Sachs - often a market mover with its big macro calls - is a good example. Last month's Bank of America survey of fund managers around the world still had net 68% expecting recession this year. Rates markets reared up to price Fed rates back above 5% and now expect them higher at yearend than they are today. And yet market volatility gauges have stayed peculiarly serene. Bond market volatility (.MOVE) remains well above its 20-year mean - but it has retreated sharply to two-thirds of last year's peaks.

☆ Here's why the US economy won't fall into a recession this year or next, according to a key market signal
▼ + stars: | 2023-02-07 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

In that case, it may be wise to heed a key bond market signal that's saying we'll avoid a recession after all. But if you look at the bond market, there's a clear answer that seems to be forming: The US economy won't enter a downturn this year or next. That's because the spread between corporate bonds and Treasury yields is steadily narrowing, according to DataTrek Research. The spread between corporate bond yields and US Treasuries helps measure the risk appetite of bond traders. Strategists warned that markets have yet to price in an earnings recession, which could pose a major headwind in 2023.

☆ A chief economist who called the 2008 housing bubble says home prices will fall another 15% over the next year as they remain too disconnected from buyer incomes and the supply of homes on the market
▼ + stars: | 2023-02-06 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

Central to their call is the fact that homes remain vastly unaffordable. Homes remain near their most unaffordable levels since the early 1980s, according to the National Association of Realtors' Housing Affordability Index. Home prices fall when supply outpaces demand. "New home sales remain prone to slump suddenly if the upward trend in existing home supply continues," Clancy said. KMPG economists say prices could fall as much as 20% in 2023, while Goldman Sachs and Morgan Stanley say prices will fall another 6.1% and 4%, respectively.

chartHeadline and core PCE annual inflation rates in December were 5.0% and 4.4%, respectively. Under Chair Ben Bernanke in January 2012, the Fed formalized its annual inflation target: 2% PCE annual rate. The Fed's inflation target for 25-30 years, therefore, has been core or headline PCE of 2%, informally or formally, unwritten or written, unofficially or officially. But many rate-cutting episodes since 1990 came with PCE inflation above 2%, in some cases substantially higher. - In September 2007 the Fed started easing policy to mitigate the U.S. housing crash and global credit crunch, with rates at 4.75%.

☆ I see this year's budding stock rally signaling a different kind of bull market, one that's not so reliant on just a few stocks
▼ + stars: | 2023-01-29 | by ( Jim Cramer | ) www.cnbc.com time to read: +11 min

This nascent bull market started with the peak in interest rates and the dollar back in the fall and then broadened to include bank and semiconductor stocks in 2023. That's right we created FANG a decade ago this week on "Mad Money," and it was a really good call — until it wasn't. The stability of a market that's based, in part, on the assumption of a JPMorgan (JPM) or an American Express or even a Boeing rallying on earnings, seems tidal to me. That's what's happening as we consider the market to be far bigger than any group of a half-dozen stocks. Yes, I am shredding the cynicism and heralding the new bull market, one that's not ignorant of what ails things, but is benignly rotational.

☆ Stocks may face an inflection point in the week ahead as the Fed meets and Apple posts earnings
▼ + stars: | 2023-01-27 | by ( Patti Domm | In | ) www.cnbc.com time to read: +9 min

The Fed's meeting Tuesday and Wednesday comes amid a flood of corporate earnings reports, with about 20% of the S & P 500 reporting that week. The most important day for earnings is Thursday, when Apple , Alphabet and Amazon report after the bell. The Nasdaq Composite was up 11% for the month as of Friday afternoon, well ahead of the 6.2% gain in the S & P 500. Traders have been watching the S & P 500 edge closer to the key threshold of 4,100 , its high from December. AAPL 1Y line apple Apple is also important because of the signals it can send about the strength of the consumer, supply chains and China's reopening.

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