Posts Tagged ‘building permits’

Housing Data Split

Housing Data Split

Courtesy of Jake at Econompic Data

Bloomberg details:

Housing starts in the U.S. fell more than anticipated in December, while building permits unexpectedly jumped, signaling inclement weather may have kept builders away from worksites.

Work began on 557,000 houses at an annual rate, down 4 percent from November, figures from the Commerce Department showed today in Washington. Permits, a sign of future construction, climbed to the highest level in a year.

The government’s extension and expansion of a tax credit for first-time buyers may help underpin demand in the first half of 2010, giving builders reason to ramp up new projects. The gain in permits, which are less influenced by weather, indicates an unseasonably cold and wet December probably prevented some work from getting started last month, according to economists like Maury Harris.

housing
 
Source: Census

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Housing Starts Green Shoots Wither On Vine

Housing Starts Green Shoots Wither On Vine

Courtesy of Mish

Plant shoots

After optimists talked up rising housing starts for several months as green shoots, improving conditions, etc., reality came knocking in full force with the New Residential Construction Report For October 2009.

BUILDING PERMITS

Privately-owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 552,000. This is 4.0 percent below the revised September rate of 575,000 and is 24.3 percent below the October 2008 estimate of 729,000.

Single-family authorizations in October were at a rate of 451,000; this is 0.2 percent below the revised September figure of 452,000. Authorizations of units in buildings with five units or more were at a rate of 85,000 in October.

HOUSING STARTS

Privately-owned housing starts in October were at a seasonally adjusted annual rate of 529,000. This is 10.6 percent below the revised September estimate of 592,000 and is 30.7 percent below the October 2008 rate of 763,000.

Single-family housing starts in October were at a rate of 476,000; this is 6.8 percent below the revised September figure of 511,000. The October rate for units in buildings with five units or more was 48,000.

HOUSING COMPLETIONS

Privately-owned housing completions in October were at a seasonally adjusted annual rate of 740,000. This is 1.9 percent above the revised September estimate of 726,000, but is 29.9 percent below the October 2008 rate of 1,055,000.

Single-family housing completions in October were at a rate of 528,000; this is 10.7 percent above the revised September figure of 477,000. The October rate for units in buildings with five units or more was 200,000.

Total Privately Owned Housing Starts

[click on chart to enlarge]

Looking at the chart it is hard to make a case for optimism in the first place.

Before the housing numbers release this was the Bloomberg headline

Builders Probably Broke Ground on Most U.S. Houses in 11 Months

Builders in October probably broke ground on U.S. houses at the fastest pace in 11 months, and consumer prices held below the Federal Reserve’s long-range goal, economists said reports today may show.

Housing starts rose 1.7 percent to an annual rate of 600,000, the most since November 2008, according to the median forecast of 77 economists in a Bloomberg News survey.

Government tax credits and lower prices and


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ValueWalk

Gold Bullion Demand Hits Record Volumes in USA

By James Anderson. Originally published at ValueWalk.

With ongoing bailouts exploding the fiat US dollar’s M1, M2, & M3 supplies at record paces. It is not surprising to see physical gold bullion USA imports now hitting 21st Century high levels.

Q1 2020 hedge fund letters, conferences and more

U.S. Physical Gold Bullion Imports

Most of this recent record-sized US gold import volume is being delivered from Switzerland which has four of the five largest gold refineries in the world.

It is safe...



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Phil's Favorites

BlackRock Is Bailing Out Its ETFs with Fed Money and Taxpayers Eating Losses; It's Also the Sole Manager for $335 Billion of Federal Employees' Retirement Funds

Courtesy of Pam Martens

Laurence (Larry) Fink, Chairman and CEO, BlackRock

BlackRock, the international investment management firm run by billionaire Larry Fink, has played an outsized role in Federal Reserve bailouts of Wall Street. As it turns out, it’s also been quietly managing hundreds of billions of dollars for more than five million federal government employees in their retirement plan, known as the Thrift Savings Plan (TSP).

During the last financial crisis of 2007 to 2010, the Federal Reserve gave BlackRock no-bid contracts to manage the toxic assets held in ...



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Kimble Charting Solutions

Crude Oil Rallies 222% in 30-days, Peak Oil Time Again?

Courtesy of Chris Kimble

Can you believe that Crude Oil has rallied 222% in the past 30-trading days?

It’s hard to believe that Crude Oil is trading nearly $75 off its lows, yet the current price is around $36!

The chart looks at the Crude Oil continuous contract on a monthly basis for the past couple of decades.

Crude has spent the majority of the past 12-years inside of falling channel (1). The collapse in Crude Oil prices in April saw it hit the bottom of the channel at (2), where it created a large bullish reversal pattern. Since hitting the bottom...



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Zero Hedge

Consumer "Cash" Spending Is Much Worse Than The Reported Figures

Courtesy of ZeroHedge View original post here.

Submitted by Joe Carson, former chief economist of Alliance Bernstein

Consumer spending fell a record 13.6% in April, according to the preliminary estimates by the Bureau of Economic Analysis (BEA). But the spending numbers based on “cash” outlays are much worse.

The government’s monthly report on consumer spending (i.e. personal consumption expenditures) is a blend of actual cash outlays and estimated figures. Spending on durable and nondurable goods reflects “cash” outlays as reported by the monthly sales at retail establishments. But spendi...



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The Technical Traders

Gold & Silver "Washout" - Get Ready For A Big Move Higher

Courtesy of Technical Traders

Gold and Silver moved lower early on June 2nd and 3rd.  Our research team believes this is a “Washout Low” price rotation following a technical pattern that will prompt a much higher rally in precious metals.  This type of washout price rotation is fairly common before very big moves after Pennant/Flag formations or just after reaching major price trigger levels.

With Gold, a sideways Pennant/Flag formation has been setting up near our GREEN Fibonacci Price Amplitude Resistance Arc.  We believe the downward price rotation recently is a perfect setup for skilled technical traders to take advantage of lower entry price levels.  The GREEN Fibonacci Price Amplit...



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Biotech/COVID-19

You don't need to worry about spreading the coronavirus with cash

 

You don't need to worry about spreading the coronavirus with cash

Cash is unlikely to give you the coronavirus. Rolf Bruderer/Getty Images

Courtesy of Marilyn Roberts, University of Washington

Some people worry that cash may be spreading the coronavirus.

Earlier this year, bot...



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Chart School

Silver volume says something is near boiling point

Courtesy of Read the Ticker

Fundamentals are important, but they must show up in the chart. And when they do and if they may matter, it is a good sign if price and volume waves show a change of character.

The Point and Figure chart below is readtheticker.com version of PnF chart format, it is designed to highlight price and volume waves clearly (notice the Volume Hills chart).

Silver ETF volume is screaming at us! The price volatility along with volume tells us those who have not cared, are starting to, those who are wrong are adjusting, and those who are correct are loading up. Soon the kettle will blow and the price of silver will be over $20. 

Normally silver suffers in a recession, maybe this time with trillions of paper money being creat...

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Lee's Free Thinking

US Southern States COVID19 Cases - Let's Give Credit Where Due

 

US Southern States COVID19 Cases – Let’s Give Credit Where Due

Courtesy of  

The number of new COVID 19 cases has been falling in the Northeast, but the South is not having the same experience. The number of new cases per day in each Southern state has been rangebound for the past month.

And that’s assuming that the numbers haven’t been manipulated. We know that in Georgia’s case at least, they have been. And there are suspicions about Florida as well, as the State now engages in a smear campaign against the fired employee who built its much praised COVID19 database and dashboar...



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Digital Currencies

Blockchains can trace foods from farm to plate, but the industry is still behind the curve

 

Blockchains can trace foods from farm to plate, but the industry is still behind the curve

App-etising? LDprod

Courtesy of Michael Rogerson, University of Bath and Glenn Parry, University of Surrey

Food supply chains were vulnerable long before the coronavirus pandemic. Recent scandals have ranged from modern slavery ...



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Members' Corner

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

 

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

No matter the details of the plot, conspiracy theories follow common patterns of thought. Ranta Images/iStock/Getty Images Plus

Courtesy of John Cook, George Mason University; Sander van der Linden, University of Cambridge; Stephan Lewandowsky...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Promotions

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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

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Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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