Straight from the Desk

Syz the moment

Live feeds, charts, breaking stories, all day long.

27 Oct 2023

The US housing market conundrum ->

New home sales just surged 12.3% month-over-month in September, the largest jump since August 2022. Even as mortgage rates push above 8% for the first time in 23 years, new home sales are surging. The gap between new home sales and mortgage rates has never been wider. Why is this happening? Explanation by The Kobeissi Letter: -> Homebuilders are taking on some of the cost of higher mortgages AND existing home sales are at their lowest since 2010. New homes are the only option for buyers and homebuilders are helping pay for it. Source: The Kobeissi Letter, www.zerohedge.com

25 Oct 2023

The premium to buy a home vs. rent one has soared to 52%, the highest level ever recorded

Even in 2008, the premium to own peaked at 33%. Source: barchart

24 Oct 2023

As mortgage rates hit 8% for the first time in 23 years, affordability continues to fall off a cliff

The Housing Affordability Index just hit a fresh record low, at ~90. This means that housing affordability is officially down 50% since 2021. Since then peak in 2012, housing affordability is down nearly 70%. Buying a home has become a luxury. Source: The Kobeissi Letter, www.zerohedge.com

20 Oct 2023

Amazing chart about Canada housing market (on the right) vs. US housing market (on the left).

Source: Michel A.Arouet

19 Oct 2023

JUST IN: The Value of US Distressed commercial real-eestate is approaching $80 billion, the highest level in a decade Now less than HALF the 2008 financial crisis levels

Blackstone, Brookfield and Goldman Sachs have defaulted or relinquished offices to lenders this year. Today, Pimco walked away from 20 hotels with +$240MM in debt. Over $1.5 trillion of commercial real estate loans will mature over the next 3 years. Source: Bloomberg, Genevieve Roch-Decter, CFA, Barchart

18 Oct 2023

Michael Burry Stock Tracker ♟

🚨🚨Latest news on real estate market

17 Oct 2023

US Commercial real estate sales volume have fallen to the lowest level in 13 years

Source: Green Street

29 Sep 2023

US Housing | The National Association of Realtors’ index of contract signings tumbled 7.1% to 71.8 from July, the group reported Thursday

The decline was larger than all estimates in a Bloomberg survey of economists. *US AUG. PENDING HOME SALES FALL 7.1% M/M; EST. DOWN 1% *US AUG. PENDING HOME SALES FALL 18.8% FROM PREVIOUS YEAR Source: Bloomberg

Thinking out loud

Sign up for our weekly email highlighting the most popular posts.

Follow us

Thinking out loud

Investing with intelligence

Our latest research, commentary and market outlooks