In terms of the “unemployment rate”, the numbers are unequivocal: the percentage of employable Americans who are without jobs continues to go up every month – due to the combined effect of the still extremely high weekly lay-offs, plus the fact that the number of “new jobs” doesn’t come close to even matching the growth in population.
We’ve already been through this charade in the U.S. housing market. Again we were told by countless media talking-heads and “experts” (on countless occasions) that the U.S. housing market had “bottomed” in 2009. These shills even had the audacity to claim there was a “recovery” taking place in the U.S. housing market – as opposed to merely a “dead-cat bounce” after the worst real estate crash in the history of the U.S. economy. Returning to the real world, we have now seen U.S. housing prices plunge through that supposed “bottom”, meaning that even the propagandists have been forced to abandon their lie about a “recovery” in this sector of the economy.3Jun2011 | JeffNielson | 2 comments | Continued
The U.S. housing market is riddled with massive risks which will almost certainly lower prices.4Dec2010 | MichaelWhite | 3 comments | Continued
The Aftermath of the Global Housing Bubble Chokes the World Banking System. Only a Coordinated Loan Massacre Could Defeat a Japanese-Style Dead-and-Dying-of-Debt Kamikaze. Hell Approaches Us All, But Only For An Extended Period.
Sometimes the complexity of the world is a ruse, and seeing the overwhelming future of our fortunes is strangely simple. Our past and future credit crisis is but one case in point.28Jul2010 | MichaelWhite | 0 comments | Continued
So here’s the news for you now, a week late, but new to the marketplace of ideas. Pending-home sales now stand below the worst numbers we have seen since the housing crash started in 2006. The rubber bands and duct tape are breaking apart. Presume the fix of a fall is in.9Jul2010 | MichaelWhite | 6 comments | Continued
INVENTORY / Units For Sale vs. Delinquent Mortgages — Arguably the key gauge of our economy, this chart shows high-distress among the owners of real estate with “X” = (delinquent units + for sale units). Look at the massive gap between “X” and “Z” – monthly unit sales, and tell me anybody can predict where prices are going. The gap frightens all sentient beings and makes a fool of any person who predicts future prices.24Jun2010 | MichaelWhite | 6 comments | Continued
New Observations estimates excess inventory for sale equals 1.4 million units with over 4-million homes on-the-block, a figure hovering just 11 percent below peak-crash inventory, while at the very same time the realtors’ chief economist forecast Monday that “the housing price correction appears essentially over.” A respectable 521,000 units sold in April, yet inventory for […]25May2010 | MichaelWhite | 0 comments | Continued
Since I began in August to forecast a continuation of falling values, frequently I met with anger, disbelief, myopia. This week I wanted to take a closer look. So I pulled out one of the best number sets, and applied my crude math in exactly the same way I always do, but I did a close up on five years of data before and after the peak. The result is the chart you see below.9May2010 | MichaelWhite | 7 comments | Continued