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The Rent Is Too Damn High: Record High 30% Of U.S. Adults Now Live With A Roommate

A staggering new analysis from Zillow highlights perfectly the unintended consequences of central banking policies that drive massive asset bubbles but minimal job/wage growth.  According to the study, surging home prices and rising rents have now resulted in a record 30% of American adults, up from 21% in 2005, being forced take on roommates just […]


Canadian Housing Affordability Hits 27 Year Low

Authored by Steve Saretsky via VanCityCondoGuide.com, Nothing says Merry Christmas like a 27 year low for Canadian housing affordability. That’s right, real estate across Canada has not been this un affordable since the year 1990 per RBC. Spoiler alert house prices tumbled shortly thereafter. RBC Bank released their updated Q3 numbers for housing affordability. To […]


Baltimore Residents Losing Homes Amid Crippling Increases In Water Bills To Pay For Crumbling Infrastructure

With its surging violence and failing public schools, being a Baltimore resident these days doesn’t seem to be that enticing a proposition.  Unfortunately, crumbling water infrastructure is only adding to the agony of residents that occupy what increasingly looks like a failed city.  As The Baltimore Sun notes today, a new study conducted by economist […]


This Map Shows Where Millennials Are Buying Houses (And For How Much)

Millennial homeownership rates are essential to understanding the housing market because they facilitate additional home sales for other people. How does this work? As HowMuch.net explains, suppose you make an offer on a house. The current owner is also probably on the market, and he or she likely has a contingent offer on another house. […]


New York City Developers Are Relying On A Shrinking Pool Of Buyers

Most of New York City’s largest developers are probably optimistic about the near future now that one of their own is occupying the most powerful office in the world. Bu, this very specific group of taxpayers stands to benefit immensely from several of the provisions that have appeared in the Senate or House plans: Repealing […]


Silicon Valley’s ‘Working Homeless’ Shows How Hard Life Is In “Democrat’s Paradise”

Authored by Mac Slavo via SHTFplan.com, Silicon Valley is the home to tech giants like Facebook, Apple, and Google. It’s also home to a surging working homeless population who live in dilapidated RV’s, tents, and their own cars, all thanks to the policies Democrats love to implement. The surging number of those working in Silicone Valley […]


London House Prices Reach Record Unaffordability

Earlier this month, we noted further evidence that London’s housing bubble is bursting. In its October 2017 survey, the Royal Institute of Chartered Surveyors (RICS) reported the largest proportion of respondents seeing a drop in London house prices versus the previous month since 2009. The net balance was nearly two thirds (-63%) in favour of […]


US Home Prices Surge At Fastest Pace Since July 2014

As the latest housing data shows an uptick in sales, Case-Shiller's 20-City Composite index surged 6.19% YoY in September – the fastest rate of gain since July 2014. As Bloomberg notes, the residential real-estate market is benefiting from steady demand backed by a strong job market and low mortgage rates. The ongoing scarcity of available houses […]


Hong Kong Property: Record Price Per Square Foot Smashed…Twice…By The Same Buyer

Two weeks ago, we discussed Algebris Investments’ analysis of the world’s biggest asset bubbles. Portfolio manager, Alberto Gallo, noted that “It’s not just about valuation, it’s about irrational behaviour” and used variety of measures to identify the latter including ”Sky is the limit”, “Bidding wars” and “The trend is your friend”. Gallo listed what in […]


The Biggest Ponzi In Human History

Authored by Raul Ilargi Meijer via The Automatic Earth blog, Here’s the story in a nutshell: Ultra low interest rates mark a shift away from people’s wealth residing in their savings and pension plans, and into to so-called wealth residing in their homes, which are bought with ever growing levels of debt. When interest rates […]


Home Prices In All US Cities Grow Faster Than Wages… And Then There’s Seattle

According to the latest BLS data, average hourly wages for all US workers rose at a respectable 2.9% relative to the previous year, if still below the Fed's "target" of 3.5-4.5%, as countless economists are unable to explain how 4.3% unemployment, and "no slack" in the economy fails to boost wage growth. Another problem with […]


“It’s Unstoppable” – US Home Prices Rise At Fastest Pace In Over 3 Years

US national home prices are up 6.07% YoY in August – the fastest rate since June 2014. We note this data is for August – before the hurricanes. Seattle (up 13.2 percent), Las Vegas (up 8.6 percent), and San Diego (up 7.8 percent) were the top three cities in terms of year-over-year price appreciation; all […]


Renting In The US Has Never Been More Unaffordable

Over the weekend, when looking at the record high ratio in median new home sale prices to household incomes in the US, we concluded that US homes have never been more unaffordable for the average American.   What about renting? Isn’t it intuitive that if buying a house has never been more expensive, then at […]


Here’s Why Cities All Across America Are Suddenly Buying Up Trailer Parks

Much like the historic run that nearly resulted in the collapse of the global financial system in 2009, home prices in the U.S. are once again looking more like an Amazon or Facebook stock price chart than a stable store of value that should probably grow roughly inline with overall inflation.  And while these price […]


Why Cities All Across America Are Suddenly Buying Up Trailer Parks

Much like the historic run that nearly resulted in the collapse of the global financial system in 2009, home prices in the U.S. are once again looking more like an Amazon or Facebook stock price chart than a stable store of value that should probably grow roughly inline with overall inflation.  And while these price […]