Salient to Investors: Jeremy Grantham at BMO writes: The Greenspan-Bernanke policy of excessive stimulus, now administered by Yellen, will continue, and that the path of least resistance, for the market is up. It would take a severe economic shock to outweigh the effect of the Fed’s relentless pumping of the
READ MORE... →Salient to Investors: A RICS index increased to the highest since June 2002. Mortgage lending climbed to the highest level in almost 6 years in Q3. The gap between demand and supply widened to the most since May 2009. RICS said house prices are expected to continue rising in all
READ MORE... →Salient to Investors: Price gains for London’s most expensive homes have stalled this year on tax rise concerns and high asking prices. Savills said London houses and apartments valued at more than 15 million pounds showed almost no gain in the year through September, versus a rise of 5 percent
READ MORE... →Salient to Investors: Housing in Australia accounts for 60 percent of average household wealth versus a global average of 45 percent. Average household debt has been near 150 percent of annual income since 2006 versus 135 percent in the US. House prices have not fallen more than 10 percent in
READ MORE... →Salient to Investors: Neil Dutta at Renaissance Macro Research said most regions are experiencing strong home-price appreciation off a low base, while cities with the biggest price appreciation are in places that had bigger busts. Fitch Ratings said price gains are unsustainable, with cities such as San Francisco and San
READ MORE... →Salient to Investors: Warren Buffett said the US housing market is coming back but housing starts are not at an equilibrium point, where they match household formation. Buffett said housing will rebound because of increasing population and limited supply. Buffett said the US has made significant progress since 2009 after
READ MORE... →Salient to Investors: Miller Samuel and Douglas Elliman Real Estate said: Hamptons real estate sales are surging, fueling a boom in knockdowns, expansions and quick resales. Hamptons home purchases in Q3 rose 32 percent from a year earlier to the most for a Q3 since 2005. Luxury homes rose 14
READ MORE... →Salient to Investors: RealtyTrac reported: Home purchases by institutional buyers reached a record high of 14 percent of sales in September and all-cash buyers accounted for 49 percent of sales – 10 percent nationwide were properties repossessed in foreclosures, with Las Vegas at 21 percent, Riverside and San Bernardino at
READ MORE... →Salient to Investors: Continued stimulus on cooling global growth led by weakening in developing nations amid stagnant inflation and job growth in much of the industrial world risks inflating asset bubbles central bankers will have to face later. Talk of unsustainable home-price increases is spreading from Germany to New Zealand,
READ MORE... →Salient to Investors: Mark Hanson at Hanson Advisers, who predicted the 2007 housing crash, said: Housing prices will decline 20 percent in housing prices in the next 12 months due to rising interest rates and less speculative private-equity buyers. Half of the gains since the bottom in 2011 could be
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