First, lifted from the comments on Corus: “Too toxic to fail.” by Rob Dawg On shadow inventory from Reuters: “Shadow” inventory lurks over U.S. housing recovery (ht Denny) [A] massive supply of unsold homes is waiting in the wings and could easily swamp the recovery before it can gather speed.…
Note: According to a recent report , workers are starting to exhaust the extended unemployment benefits. The National Employment Law Project estimates 0.5 million workers will have exhausted their extended benefits by the end of September, and close to 1.5 million by the end of 2009. Unless the unemployment rate…
Three stories from DataQuick: June Seattle MSA Home Sales and Median Prices Last month 16.9 percent of all resales were houses or condos that had been foreclosed on in the prior 12 months, down from 19.2 percent in May and a peak of 23.9 percent in January this year. However,…
What if I wrote that U.S. payroll employment increased by 383 thousand jobs in May 2009 following an increase of 259 thousand jobs in April 2009? Some readers would suspect CR had been captured by aliens or had visited crazytown. But, in fact, those numbers are exactly what the BLS…
I recently learned from a couple of really smart guys about a concept called the hype cycle . It’s actually a cool visual meant to illustrate the adoption rates of various technological advances. Photo by Steven Davies That got me to thinking about email marketing as a component of…
This will be a very busy week for economic news, and some of the key data will be new home sales for June released on Monday, the Case-Shiller home price index for May released on Tuesday, and Q2 GDP from the BEA on Friday. At the beginning of this dark…
New Home sales for June are scheduled to be released on Monday morning by the Census Bureau. The consensus forecast is for 350 thousand sales on a Seasonally Adjusted Annual Rate (SAAR) basis, up slightly from the 342 thousand SAAR in May. Since we already have the NAHB Housing Market…
Image of Mortgage Cicerone I have to highlight a big pearl of wisdom from my morning Google RSS Reader review. (BTW, are we sharing in Google Reader ? We should be.) It turns out the Mortgage Cicerone just lost a customer to the competitor. Most would mope, then curse–probably…
The NAR reports: Existing-Home Sales Up Again Existing-home sales – including single-family, townhomes, condominiums and co-ops – increased 3.6 percent to a seasonally adjusted annual rate of 4.89 million units in June from a downwardly revised pace of 4.72 million in May, but are 0.2 percent lower than the 4.90…
UPS CEO opening comments on conference call: “On our last call we told you economic conditions for the second quarter would be slightly worse than the first and UPS performance would reflect those conditions. And that’s what happened. The results we announced today are a clear indication of the tough…