Salient to Investors: The S&P/Case-Shiller index of property values in 20 cities rose 2 percent from August 2011, the biggest year-to-year gain since July 2010, a sign housing will help drive economic growth. Anika Khan at Wells Fargo Securities said the modest momentum will continue. The average rate on a 30-year, fixed-rate loan was
READ MORE... →Salient to Investors: The S&P/Case-Shiller index of property values in 20 cities had its biggest 12-month advance since August 2010. Millan Mulraine at TD Securities says housing has made an important turn that is being sustained. August saw the strongest pace of single-family starts in more than two years, while purchases of previously-owned
READ MORE... →Salient to Investors: Bloomberg Consumer Comfort Index at a four-month high in September, Thomson Reuters/University of Michigan preliminary sentiment index at second highest level in five years – due in part to rising stocks and property values. The Conference Board’s index decreased in August from in July, the biggest drop in 10 months. Andrew
READ MORE... →Salient to Investors: Yelena Shulyatyeva at BNP Paribas expects housing to be a bright spot despite foreclosures, delinquencies, people cutting mortgage debt. Investors can buy very cheap houses and, with rents rising, can get good yields. Primary residence rents rose 2.6 percent in the year ended August versus a 1.7 percent gain in average hourly wages. Read the full article
READ MORE... →Salient to Investors: Over the last two decades, US recoveries have been slow and jobless, In every recession from 1948-1990, jobs came back to pre-recession levels an average six months after the economy returned to its pre-recession level. In the 1990s, jobs came back 15 months later, and since 2001, 39 months later. McKinsey
READ MORE... →Salient to Investors: Fareed Zakaria said 49 percent of Americans polled said economic conditions were good or excellent in the city they lived in, 37 percent said the same about their state, 25 percent about the US, 18 percent about Europe, 13 percent about the world economy. Housing is finally is recovering and will have big ramifications for
READ MORE... →Salient to Investors: Kenneth Heebner said the U.S. is poised to outperform most countries – lower growth in Asia and Europe will lower oil and commodity prices, a de facto tax cut for U.S. consumers. Heebner sees forces driving the U.S. in a positive direction – the real estate bust has created pent-up demand for housing
READ MORE... →Salient to Investors: Joseph LaVorgna at Deutsche Bank Securities says the economy is muddling through, while concerns about the collapse of manufacturing are grossly overblown, and we’re in a housing recovery. Britons repaid more mortgage debt than they borrowed in May for the first time in at least 15 years. Manufacturing
READ MORE... →Salient to Investors: Demand for new U.S. homes rose more than forecast in May, the most since April 2010. The number of houses on the market held near a record low. Brian Jones at Societe Generale sees a gradual improvement but says we’ve miles to go before we get back to normal. Prices
READ MORE... →Salient to Investors: Housing industry is restrained the weakest employment gain in a year last month and limited access to credit. The median price of an existing home climbed to $182,600 in May, the highest since June 2010. Cash transactions accounted for about 28 percent, distressed sales 25 percent , investors for
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