Links 7 December 2018

Global Macro / Markets / Investing:






    • I am hoping for another S&P500 rally… I didn’t plan to sell stocks this year. Tax will screw me.

      The bear rally is strong this year.

  1. US average mortgage rates fall; 30-year loan at 4.75% … Washington Post

    WASHINGTON — U.S. long-term mortgage rates fell this week amid a steep decline in stock prices.

    Continued slides in the stock market and tumbling oil prices have been pushing mortgage rates lower, although home borrowing rates remain much higher than a year ago. Mortgage giant Freddie Mac says the average rate on the benchmark 30-year, fixed-rate mortgage dipped to 4.75% from 4.81% last week. The key rate stood at 3.94% a year ago…. Read more via hyperlink above …

  2. Mike ‘Mish’ Shedlock needs to differentiate between rubbish bubble density / apartment stock … and real need detached housing stock (where there is a massive shortage) …

    Aussie is just doing a ‘Miami ‘07’ ! …

    Let’s Check In On Australia – Mish Talk

    I don’t want my readers down under to think I have forgotten about them. Let’s check in.

    Desperate Offers to Attract Tenants … read more via hyperlink above …

  3. Affordability still a problem despite falling prices, as a credit crunch looms … afr
    … behind paywall …

    Tightened lending conditions and a credit crunch could limit future home buyers to buying homes worth no more than six times their household incomes, a condition that would likely prolong affordability problems even as house prices continue to fall, banks and analysts say. … read more via hyperlink above (behind paywall) …
    … Why did the Central Bank of Ireland generally cap mortgages at 3.5 times gross annual household incomes … following the ’07 crash ?

    What did the Central Bank of Ireland learn about the risks / costs of high loan to income ratios ?

    What have the Australian and New Zealand Regulators and Banks learned from the Central Bank of Ireland decision … and foundation research ? …

    Mortgage Measures | Central Bank of Ireland

    • It’s happening, whether you like it or not. PERC cells are producing power at 1c/kWh, on users’ roofs, so coal is finished. Dead man walking. 😯


    Following a lull through the first part of the year (as explained below within the June 2018 Update), thankfully, New Zealand is back on track as the global leader, in dealing with the structural issues (land supply and infrastructure financing) impeding the supply of new affordable housing.

    Let the updated ‘2018’ and ‘2018 – Articles Of Significance’ sections speak for themselves !

    Hugh Pavletich
    Co – author Annual Demographia International Housing Affordability Survey
    New Zealand