From Sweta Killa: Fed Chair Powell has suspended the three-year monetary policy tightening program and has signaled his openness to cut rates if needed. This is especially true as Powell commented at the Conference on Monetary Strategy, Tools and Communications Practice that “the Fed is closely monitoring the implications of the trade tensions on the […]
From Zacks: Shares of KB Home KBH decreased 15.3% yesterday, after the company trimmed its guidance for fourth-quarter fiscal 2018. It also underperformed the industry in a year’s time. The stock has lost 38.8% compared with the industry‘s 32.7% decline.
From Chris Kimble: Housing market concerns are bubbling up once again. Remember the 2007 housing bubble?
From John Rubino: Last week I ran into a friend whom I’d been worrying about. He’s a real estate appraiser and his work had been drying up as interest rates rose and homeowners stopped refinancing their mortgages.
From Zacks: Thanks to the combination of factors like Trump trade, strongest Q4 earnings growth in two years, solid economic data, and growing prospects of rate hike, the Wall Street has been on a stellar ride with the Dow Jones being the biggest winner.
Homebuilders and Construction based stocks have prospered since Trump’s election last November, even amid an environment of rising interest rates.
From Paul Mampilly: One of my father’s goals was to own a house. He’d lost his mother when he was 3 years old and his father when he was 20. Since then, he had been out on his own … renting or staying with whomever would take him in.
From Paul Mampilly: Some of my earliest memories come from being at my grandfather’s house in India. Growing on one side, there was a huge mango tree that I would climb to get ripe, juicy mangoes. On the other side, there were pear, guava and jackfruit trees.
It looks to be another day of bloodletting for the U.S. Homebuilders and related Construction names today, as we see several benchmark index funds in the space getting hammered.
Homebuilder Lennar Corporation (NYSE:LEN) posted strong third quarter results this morning, with both profit and sales blowing away expectations.
In a piece of news sure to please investors in the iShares Dow Jones US Home Construction ETF (NYSE:ITB), Zillow today reported that U.S. home prices have risen for the 48th month in a row.
Today’s July new home sales numbers came in much better than analysts had expected, and the two largest homebuilder ETFs are flying higher as a result.
From ZeroHedge: Less than 63% of Americans now own their homes, according to the latest census data, even as mortgage rates sit at all-time lows.
From ZeroHedge: Despite its supposed seasonal adjustment, Case-Shiller home price growth in May tumbled for the 3rd year in a row (in fact, with revisions, the 0.23% drop since March is the biggest drop since June 2014).