Recent tweets that caught my eye: rising housing supply in select cities, China’s massive shipbuilding, the deathbed of the mainstream media, strange mortgage returns and how to save a hedgehog.
Weapons in Ukraine
Is Blinkin itching for WWIII?
Deathbed of mainstream media
The average age of an MSNBC viewer is 70 years old.
Fox News is 69 years old, even MTV is 51 years old.
Let me repeat, these are *medians*! pic.twitter.com/6qGdem5F67
— Nick Kapur (@nick_kapur) May 22, 2024
Fast food prices
Give Biden credit
How to save a hedgehog
For those who say I only post negative news, here’s a great story. If you like this, I’ll be posting more in my Weekend Tweets.
Not only bankruptcies, liquidations are increasing
“We’re not just seeing bankruptcies and restructurings – we’re seeing liquidations…that means someone is out of a job overnight. That’s a big difference compared to a Silicon Valley layoff around 2023 with 9 months off…”https://t.co/eK3q056rum
— Danielle DiMartino Booth (@DiMartinoBooth) May 23, 2024
Mass supply for building houses in several cities
Massive builder supply pipeline set to hit US housing market in 2024/2025.
Especially in these cities. Areas like Houston/Dallas/Phoenix.
Where permissions are off the charts.
Access building permit data for your state / metro / county in the Reventure app:… pic.twitter.com/2LSXMm912u
— Nick Gerli (@nickgerli1) May 23, 2024
Growing inventory
Child Trafficking
Admin Biden’s desperate plot to remove the Attorney General of Guatemala just got crazier. Remember, she’s investigating child trafficking at the US border and how the Biden administration might get involved.
Rep. @WarrenDavidson exposed a tactic the Biden administration is using that includes… pic.twitter.com/icbesCuTlK
— Robby Starbuck (@robbystarbuck) May 23, 2024
Shipbuilding
Yicai: “China’s shipbuilding orders reached 24.1 million tons in the three months ended March 31, accounting for nearly 70 percent of the global total.” https://t.co/1RK58oTnLf
— Michael Pettis (@michaelxpettis) May 22, 2024
China’s international shipbuilding industry and vast merchant navy, combined with its growing navy, pose a comprehensive threat to American security. America must rebuild its maritime sector, write @michaelgwaltz AND @SenMarkKelly https://t.co/J5cBaRN9hh
— Wall Street Journal Opinion (@WSJopinion) May 25, 2024
The Wall Street Journal is consistently advocating more military spending everywhere. None of these writers ever say how they propose to pay for anything.
Stock worse than a year?
Adam’s chart was from the WSJ. My lists were from a Fed survey.
Expect more inflation
Refis Rising Mortgage
Reposted Rising from the lows
It is now contextualizing it in the period of the highest levels of refis in history. Interest rates had never been lower during that period and everyone with a mtg was refinancing
The fact that it is rising again now at the highest rates in 20 years should not be dismissed https://t.co/ahllwSgi8I
— Marcel (@artimidore) May 22, 2024
“That it is going up again now with the highest rates in 20 years should not be dismissed.”
I agree with the comment above. In absolute terms, returns are at a very low level. But why are they growing at all? People take out a 3 percent mortgage and refinance to a 7 percent mortgage.
Question: Why?
Answer: Consumer stress to pay bills is high and growing.
New home sales close 4.7 percent on top of big negative revisions
New home sales fell. And the Census Department completely revised last month’s notional increase of 8.8 percent.
For discussion, please see New home sales close 4.7 percent on top of big negative revisions
Expect big negative revisions to monthly BLS jobs in 2023
On April 24, the BLS released a little-read jobs report showing that reported jobs in 2023 may be grossly overestimated. In turn, this means that GDP is likely to be overstated as well.
For discussion, please see Expect big negative revisions to BLS monthly jobs in 2023, also GDP
Persistently large negative reviews are a hallmark of recessions.
Homebuilders have the largest inventory since May 2008
Speculative building, as measured by the inventory of started but unsold housing, is at its highest level since May 2008. To unload these units, builders will have to offer deep discounts.
For discussion, please see Homebuilders have the most inventory since May 2008, big discounts to come
On the bright side, we know how to save a hedgehog.
#Top #posts #weekend #Rising #bankruptcies #housing #oversupply #deathbed #mainstream #media
Image Source : mishtalk.com