Housing: More of the Same

Again, ignore the headlines.  The numbers that really matters are ytd sales (without a seasonal adjustment) and median sales price.  Here, without the glitzy graphics or Census Dept spin, is the unvarnished truth.                                      US      Northeast   Midwest    South     West 2011 v 2010 ytd         -7.9%      -29.7%       -9.7%      -4.1%     -6.1%percent change inunits sold Median price: … continue reading →

Topping Pattern?

UPDATE:  3:45 PM Despite all the drama, EUR still looking like the bottom’s about to fall out.  All the players are hedging, talking about needing a few more days past Sunday (the most recent deadline for the miracle cure.) Note the RSI trendline, still within the channel we’ve been watching.  And, of course, we’re up … continue reading →

Ignore the Headlines

Yesterday, it was The Guardian’s phoney “Euro Zone is saved” leak.  Today, it’s CNBC’s  “Housing Starts Jump 15%.” Sure enough, when you dig into the story, you see that it was annualized multi-family starts that jumped (53%).  Single-family slumped — to a measly 1.7% annual increase.  Of course, that won’t stop the requisite bump in … continue reading →