Quinn’s impression of Montgomery County PA is daunting. He sees trouble in what demographics say should be a prosperous, flourishing community where the residents live lives of relative affluence. The cheap-oil-based, automobile dependent, mall centric, suburban sprawl, sanctuary-of-consumerism lifestyle is showing distinct signs of erosion. The signs are all there, and they point to a bleak future. “An unsustainable paradigm,” he writes, “can’t be sustained.” Continue reading
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As global real estate bubbles burst at differing intervals, those still engaged in mania fever try to justify the current inflated economic structure. With the current US median home price at $151,600 and the median household income at roughly $50,000, prices seem to be stabilizing. But the metrics show that Canada is poised for a deep correction. Continue reading
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Wealthy homeowners with properties for sale need to close the deal in the next five months because, if the Bush tax cuts expire and capital gains tax rates go up on January 1, sellers in the high-end real-estate market could owe millions more in taxes on their sales. Continue reading
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America has too many big houses—40 million—with no buyers, because consumers’ preference is shifting to smaller homes. That oversupply wipes a whopping $20 trillion off US GDP because, during the boom years, those McMansions sold for around $500,000 Continue reading
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The Fed is desperately trying to stimulate credit and lending, but to no avail. Citing falling debt-service needs, some economists think consumers may be ready to go on a borrowing spree; they are badly mistaken. Today, credit-hungry adults under 45 are suffering the effects of a lackluster US economy. Shedlock discusses the four main reasons: Demographics; student debt; jobs and housing. Continue reading
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After record bear & bull markets in both real estate & gold, real estate:gold ratio might be telling us we’ve reached an extreme trough in prices. Ratio hasn’t been this low in 30 years Continue reading
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There is a huge bubble in Canadian real estate, much larger than America’s was. In today’s global economy, the bursting of this bubble could have worldwide implications. Continue reading
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Spain has been handed its second S&P credit downgrade for the year, and data shows an economy in free fall. Retail sales fell for the 21st consecutive month, while Q1 unemployment soared to 24.44% of the working population, up nearly 2% from December. Spain’s economy is in desperate straits. Continue reading
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According to The Canadian Real Estate Association, their latest survey indicates that price increases in Canada’s booming housing market may be topping out… Continue reading
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There have been several recent reports on upticks in the housing date, but home prices have declined, according to the NAR/Core Logic Composite Index, by a whopping 36%. Continue reading
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Many of the world’s financial and economic woes began with the bursting of the biggest bubble in history. Never before had house prices risen so fast, for so long, in so many countries. In some… Continue reading
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Banks,” the largest European banks have held onto, and failed to mark down, a mountain of bad paper from the housing bubble. Continue reading
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