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Thursday, September 23, 2021

Joe Biden Touts Wall Street Support for His Plan to Abolish American Suburbs

Democrat presidential candidate Joe Biden is touting Wall Street’s support for his $640 billion housing plan that would force low-income, multi-family housing developments into America’s suburban communities. During a visit to Kenosha, Wisconsin — where the Black Lives Matter organization and members of Antifa have led riots for weeks — Biden told supporters that Wall…

“Pent-Up Supply” Floods San Francisco Housing Market, Most Since Housing Bust

Authored by Wolf Richter via WolfStreet.com, There is a lot of discussion about the low levels of inventory for sale, as potential sellers have pulled their homes off the market or are not wanting to list their homes at the moment, waiting for the Pandemic to blow over, or waiting for more certainty or whatever;…

Housing Market Outside New York City Booms As City Dwellers Flee 

While observing national housing trends, we have recently found wealthy Americans and anyone else who has the economic mobility are selling real estate in big cities and have fled to rural communities amid fresh concerns of the second coronavirus wave and ongoing social unrest.  We've documented this phenomenon, in several pieces, is happening across several major metropolitan areas: Wealthy…

Biden Campaign Slams Sanders’ Plan to Fund Costly Proposals: ‘Doesn’t Even Begin to Fully...

The Biden campaign on Tuesday took aim at Sen. Bernie Sanders (I-VT) over his recently released fact sheet, which explains how he would fund his multitrillion-dollar proposals, dismissing it as an “incomplete list” that “doesn’t even begin to fully cover the costs.” Sanders on Monday released a fact sheet designed to address critics who have…

Housing Joins The Everything Bubble

Authored by John Rubino via DollarCollapse.com, When people tick off the components of the “everything bubble” they usually omit US housing, for a couple of reasons. First, bubbles don’t normally recur immediately in the same asset class, because memories of past carnage need to fade before investors can be seduced back into irrational optimism. Since…

Homebuilder Confidence Soars to Highest Level in 20 Years

It is a new golden age for American homebuilders. Homebuilder confidence unexpectedly jumped higher in December. The National Association of Home Builders/Wells Fargo Housing Market Index rose 5 points to 76, the highest reading since June 1999. The index was already near its 2019 highs at 70 in November and was expected to remain at that…

Report: California’s Middle-Class Wages Rise by 1 Percent in 40 Years

Middle-class wages in progressive California have risen by 1 percent in the last 40 years, says a study by the establishment California Budget and Policy Center. “Earnings for California’s workers at the low end and middle of the wage scale have generally declined or stagnated for decades,” says the report, titled “California’s Workers Are Increasingly…

Australia Housing Slump Prompts Collapse Of One Of The Nation’s Largest Developers

Australia's construction slump is taking its toll on the major companies in the industry with one of the nation's largest developers, Ralan Group, forced into voluntary administration, according to ABC Australia. The developer has frozen billions in apartment projects, and has debts of about $500 million to its creditors.  Cement manufacturers, like Adelaide Brighton, have…

The US Housing Bust In 20 Charts

In "Where The American Dream Goes To Die", we published some of the most recent, concerning observations on the current state of the US housing market. Now, courtesy of Deutsche Bank, for our lazier readers, here is a visual recap of the recent turning point in US housing, in which DB's Torsten Slok uses an…

Vancouver Housing Unaffordability Due To International Possession, Chinese Funds, & Migrant Millionaires, Scrutinize Says

A new study has provided evidence linking unaffordable housing in Vancouver to foreign ownership, Chinese capital and millionaire migrants, according to the SCMP.  A white paper published by Josh Gordon, an assistant professor at Simon Fraser University’s school of public policy, found a stunning 96% correlation between metro Vancouver municipalities' price to income ratios and the…

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