Archive For: May 2017

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Getting High At $1,000 Per Share

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More Charts Reveal The Truth About The State of the US Housing Market

Earlier this week we looked at new home sales and saw a poor performance in April. Even if the calendar was partly to blame due to one less business day in April than usual, it was still weak. It suggests that panic buying earlier this year that was triggered by rising mortgage rates, has finally led to exhaustion of potential demand.

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May 26: Daily Contrarian Reads

My daily contrarian reads for Friday, May 26th, 2017.

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Chart of the Day: Toronto Housing Bubble Goes Boom, Suddenly!

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The Momo Bunnies Are Nearing $1,000 Per Share---Look Out Below!

On May 11 we noted the market had been radically narrowing ever since the beginning of 2015 after QE3 purchases by the Fed officially ended. Since then, the road has narrowed down to a sliver----or perhaps a cliff edge would be a better term.

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May 25: Daily Contrarian Reads

My daily contrarian reads for Thursday, May 25th, 2017.

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NAR Uses Statistical Trick To Show Annual Increase Declining Sale Closings

The NAR reported the misnamed "Existing Home Sales" on Wednesday. Yes, they are existing homes. No, the data doesn't report sales. The report shows prior sales contracts that closed during the month. The data should rightly be called, "Closings of Previously Sold Homes." All parties to the sale, the buyer, the seller, and the agent recognize the contract as the sale. That's when the SOLD sign goes up. The closing is a formality 95% of the time.

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Chart of the Day: Central Bank PrintaPalooza

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Trump's "Balanced Budget": Harrah, But Cuts Too Little, Ring Fences Too Much

David appears on Fox Business to discuss Trump's budget...

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May 24: Daily Contrarian Reads

My daily contrarian reads for Wednesday, May 24th, 2017.

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