econintersect.com
       
  

FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.



>> Click Here for Historical Wall Post Listing <<

What We Read Today 28 January 2014

Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary "reading list" which will include very brief summaries of why each item has gotten our attention. Suggestions from readers for "reading list" items are gratefully reviewed, although sometimes space limits the number accepted.

Today we are focused on the U.S. housing market.

  • As Promised, We Decode The Big Banks (Shah Gilani, Wall Street Insights & Indictments) Shah Gilani has contributed to Global Economic Intersection. He says that banks are susceptible to earnings disappointments in 2014 due to slowdown in wealth management business growth and mortgage originations and refis. He sees the 4Q collapse of mortgage originations as an ominous sign for housing in 2014.

What experience and history teach is this — that people and governments never have learned anything from history, or acted on principles deduced from it.”

— Hegel’s Lectures on the Philosophy of History (1832)

There are ten articles following about the U.S. housing market.

  • All-cash home sales reach new high (Quentin Fottrell, MarketWatch, The Wall Street Journal) In December a new record for all-cash home purchases: 42%, up from 39% in November. Just one year ago only 18% of home purchases were all cash. According to Zero Hedge there are five states with more than 50% all-cash home purchases:
  • Florida (62.5 percent),
  • Wisconsin (59.8 percent),
  • Alabama (55.7 percent),
  • South Carolina (51.3 percent),
  • Georgia (51.3 percent).

housing-cash-ritholtx-bloomber-2014-jan-24

housing-single-fam-starts-nahb-2014-jan

  • This 100-year-old idea could end San Francisco’s class war (Noah Smith, Quartz) Noah Smith proposes that the high housing costs in San Francisco derive from inefficient use of land. He then proposes instituting the 100-year old ideas of Henry George to tax land itself and not the improvements thereon. The current property tax laws are substantially levied on the improvements and relatively less on the land itself. This creates a disincentive for optimizing use of the land - the fewer improvements the lower the tax. See following article.
  • Land Value Tax Won't Fix San Francisco (Matthew Iglesias, Slate) Matt likes the land tax idea but disagrees with the idea that it could solve the class tensions in San Francisco resulting from high hoiusing costs. Matt says the high costs are imposed by zoning and not by land "hoarding".
  • Fred Graph MORTGAGE30US (St. Louis Fed, 24 January 2014) The 30-year mortgage rate average has shot up by more than 30% in the last seven months.

mortgage-30-year-2-year-history-2014-jan

mortgage-rates-30-year-2014-jan-23

Note: There are some more housing articles being carried over to tomorrow's "What We Read Today".


Make a Comment

Econintersect wants your comments, data and opinion on the articles posted.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.






Econintersect Behind the Wall



search_box

Print this page or create a PDF file of this page
Print Friendly and PDF


The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.


Take a look at what is going on inside of Econintersect.com
Main Home
Analysis Blog
Slow Economic Growth Will Be Around For A Long Time
The Job Guarantee, Wage-Price Inflation And Alternative Solutions: Part 2
News Blog
NASA Precise Landing Technologies Tested On Vertical Testbed Rocket
March 2017 Conference Board Consumer Confidence Highest Since 2000
Richmond Fed Manufacturing Survey Again Improves In March 2017.
Case-Shiller 20 City Home Price Index January 2017 Shows 5.7 % Year-over-Year Growth
A Changing Rulebook To Tame The New Global Arms Race
Infographic Of The Day: Chart: Understanding Alphabet's 4 Billion Dollar In "Other Bets"
Early Headlines: Asia Stocks And Dollar Up, Oil, Gold Steady, Obama Climate Policies Gone, US Oil Glut, Euro Surges, Shorts Remain, Trump Into Yemen?, Iran-Russia Deals, Cat 4 Cyclone Hits Oz, And More
March 27, 2017 Weather and Climate Report - Will the MJO Deliver a Nino?
The Most Reputable Companies Worldwide
Gut Bacteria Play A Role In Long-term Weight Gain
What We Read Today 27 March 2017 - Special Public Edition
Is Less More In The Smartphone Market
Average Gasoline Prices for Week Ending 27 March 2017 Statistically Unchanged - Again
Investing Blog
The Dollar's Coming Impact On Markets
The Real 401k Plan Manager 27 March 2017
Opinion Blog
Macron May Lead But Le Pen Remains The Big Story
Is The 20th Century Still The 'Hayek Century'?
Precious Metals Blog
These Gold Stocks Will Produce Much Bigger Gains Than Gold Itself
Live Markets
28Mar2017 Pre-Market Commentary: Wall Street Eyes A Lower Opening, Crude Prices Edge Higher, Investors Await Fed Members Clues On Timing Of Next Rate Hike
Amazon Books & More






.... and keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government































 navigate econintersect.com

Blogs

Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day
Weather

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  Top Economics Site

Investing.com Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2017 Econintersect LLC - all rights reserved