Today’s News Synopsis:
HUD and the Commerce Department reported a 5.8% decrease in housing starts last month. The NAR held a survey recently showing more and more real estate firms and brokerages are positive about future profit. Stocks increased as people continue to wait to see what decision the Fed will make regarding interest rates.
In The News:
Inman – “Are real estate firms optimistic about the future?” (9-20-16)
“Real estate professionals keep constant tabs on homebuyer and seller sentiment because how consumers feel largely impacts their financial future.”
Bloomberg – “Unlike in 1986, the U.S. Might Not Dodge a Recession: Deutsche Bank” (9-20-16)
“Falling corporate margins, weakness in the U.S. labor market and rising corporate default rates — all features of the U.S. economy in 1986, a year it avoided a recession.”
NAHB – “Housing Production Hits a Mild Speed Bump in August” (9-20-16)
“Nationwide housing starts fell 5.8 percent to a seasonally adjusted annual rate of 1.14 million units in August, according to newly released data from the U.S. Housing and Urban Development and the Commerce Department. Overall permit issuance edged 0.4 percent lower.”
“Billionaire real estate investor Barry Sternlicht had declared Greenwich, Connecticut, with its glut of mega-mansions for sale, ‘may be the worst housing market in the United States.'”
Bloomberg – “Deutsche Bank’s Low Capital Makes It No. 1 for Risk, Hoening Says” (9-20-16)
“Deutsche Bank AG’s status as the riskiest among more than two dozen large banks is worsening, according to a measure of its leverage used by Federal Deposit Insurance Corp. Vice Chairman Thomas Hoenig, adding to woes for Germany’s biggest lender as it braces for a large settlement over mortgage securities.”
Forbes – “U.S. Stocks Rise as Investors Watch For Fed Signals” (9-20-16)
“U.S. stocks edged up on Tuesday as investors waited for Federal Reserve and Bank of Japan’s decision on their respective monetary policies this week.”
DS News – “Consumer Labor Market Expectations Mixed” (9-20-16)
“The August 2016 Survey of Consumer Expectations shows an increase in both short-term and medium-term inflation expectations, according to a recent report from the Federal Reserve Bank of New York (New York Fed).”
Bloomberg – “Goldman Picks a Side in One of the Fed’s Most Contentious Debates” (9-20-16)
“Federal Reserve officials who believe a tightening labor market is sufficient proof that inflation is on the way up have a friend in Goldman Sachs Group Inc.”
Bruce Norris will be presenting his newest talk Stay Put, Cash Out, Or Change Seats? with InvestClub for Women on Wednesday, September 21.
Bruce Norris will be presenting Stay Put, Cash Out, Or Change Seats? with InvestClub for Women and Robert Hall & Associates on September 28.
Bruce Norris will be presenting Cashing In On a Boom: Investing in Quadrant 4 at the Back Bay Conference Center on Saturday, October 8.
Bruce Norris of The Norris Group will be presenting the 9th annual I Survived Real Estate 2016 on Friday, October 21.
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