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Swedish Housing Bubble Pops As Stockholm Apartment Prices Crash Most Since June 2009

Even though Sweden’s property bubble is not the longest running (that accolade goes to Australia at 55 years), it is probably the world’s biggest with prices up roughly 6-fold since starting its meteoric rise in 1995. Of course, as we noted last month when the SEB’s housing price indicator, which measures the difference between those […]


DiMartino Booth Warns Pressure On US Households Is Intensifying

Authored by Danielle DiMartino Booth, Behind the rosy economic headlines, consumer stresses have continued to build and are likely to worsen… Is the U.S. economy enjoying a honeymoon, or is this merely a hiatus? Although this isn’t a subject of discussion among most economists, there will be both good and bad associated with three hurricanes […]


Sweden: The World’s Biggest Housing Bubble Cracks

Sweden’s property bubble is probably the world’s biggest, despite which it gets relatively little coverage in the mainstream financial media – although that might be about to change. Warnings about this bubble are not new. In March 2016, Moody’s issued a very explicit warning that Sweden’s negative interest rates were propagating an unsustainable housing bubble. […]


Average U.S. Home Is Selling After Just 3 Weeks On Market; Fastest Pace In At Least 30 Years

Earlier today Bloomberg shared their thoughts that recent data released by the National Association of Realtors (NAR), namely the fact that homes are sitting on the market for a record low average of just 3 weeks before being scooped up, pointed to a devastating shortage of housing inventory for sale.  Here was Bloomberg’s take: Here’s […]


China’s Mortgage Debt Bubble Raises Spectre Of 2007 US Crisis

Authored by He Huifeng via The South China Morning Post, In an inglorious echo of 2007 America, many young homeowners in booming cities owe more than they earn, and some even falsify salary details to get bigger mortgages… Young Chinese like Eli Mai, a sales manager in Guangzhou, and Wendy Wang, an executive in Shenzhen, […]


Existing Home Sales Slump To 1-Year Lows, NAR Says “There’s Simply Not Enough Homes For Sale”

After July's housing sales data horrors, yesterday's permits rebound prompted some hope (despite last week's 9.7% collapse in mortgage applications) but August's existing home sales just crushed that dream, dropping to one-year lows. Following a 1.3% MoM decline in July, August saw existing home sales tumble 1.7% MoM (against expectations of a 0.2% rebound) and […]


Housing Bubble Symmetry: Look Out Below

Authored by Charles Hugh Smith via OfTwoMinds blog, Housing markets are one itsy-bitsy recession away from a collapse in domestic and foreign demand by marginal buyers. There are two attractive delusions that are ever-present in financial markets: One is this time it's different, because of unique conditions that have never ever manifested before in the […]


No, Harvey Won’t Help America’s Flagging Housing Market

Authored by Danielle DiMartino Booth via DiMartinoBooth.com, Something is up, or more likely down, with the U.S. housing market. And the reconstruction after Hurricane Harvey may not do much to help. Here's the evidence: The latest take on home-builder sentiment showed that buyer traffic stubbornly remains in negative territory, despite some of the highest readings […]


Morgan Stanley Asks “If Employment So Good,” Why Is This Happening To Credit Card Delinquencies…

In a new downgrade of subprime lenders Capital One and Synchrony, Morgan Stanley sought to answer the nagging question of why subprime credit card losses are suddenly soaring, per the chart below, “if employment is so good.”    After reportedly spending the entire month of August analyzing that question, Morgan Stanley came to many of […]


Autos Expose Economy’s Fragility As Credit-Compelled Car Sales Continue To Collapse

Authored by Danielle DiMartino Booth via Bloomberg.com,  The revival of the auto industry drove the factory sector out of recession; the flipside doesn’t look promising. Federal Reserve data released last week on July industrial production offered little more than more of the same. Despite post-election optimism for a rebound in activity on the nation’s factory […]