The shadow inventory from all these sources would seem to be in the 9 – 10 million home range (adding up the above numbers). Extending this shadow to the end of 2012 accounts for about half of the current sales rate for homes over the three years.
via Seeking Alpha.
Analysts caution that the increase in construction doesn’t mean there has been an improvement in the business. Apartment vacancy is at a record and unemployment, essential to the sector’s health, remains elevated.
via WSJ.com.
Those who are betting on an economic recovery — V-shaped or otherwise — seem to be counting on two things: the housing market is (or will soon be) on the mend and a growing number of employers are poised to take on more staff. If the following reports are anything to go by, the optimists might want to have a rethink.
via Seeking Alpha.
We are forecasting revenues of $14.23 billion and EPS of $.19. This would represent a 3% decline in revenues from last year’s $14.61 billion in the same period. The current analyst consensus estimates calls for revenues of $14.06 billion and EPS of $.16
via Seeking Alpha.
Amidst the news that approximately 25% of homeowners with mortgages are now underwater (meaning they owe more than their mortgage balance), will we start seeing more cries for lenders to offer principal reductions to (a) make these existing mortgages more affordable; and (b) provide an incentive to keep borrowers in their homes? Given the high recidivism rate among borrowers with loan modifications — which is often like putting a Band-Aid on an amputated limb and then praying it holds — perhaps’ its time to look at other options.
The brazenness of the financial services industry knows no bounds.
via naked capitalism.
“The government intervention in the financial system has effectively slowed the liquidation of distressed assets and the result is that with government funding, the desire and the need to liquidate the assets is dramatically different.”
via Seeking Alpha.
Two of the largest U.S. apartment landlords said on Thursday they see something in their sector that’s been missing for the past few years — a little optimism about the future.
via Reuters .
