From CoreLogic:
CoreLogic: US Annual Home Price Growth Drops to the Lowest Rate in 11 Years in May
CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for May 2023.
Annual U.S. single-family home price growth slowed for the 12th straight month in May, falling to a 1.4% increase year over year. The last time CoreLogic’s Home Price index saw annual growth fall to less than 2% was in early 2012, but U.S. appreciation still remained positive for the 136th straight month in May.
Following recent trends, a significant number of Western states saw prices decline in May from the same time in 2022, reflecting out-migration from less-urban locations where people moved during the height of the pandemic and the significant loss of affordability due to those resulting home price surges. Northeastern states and Southeastern metro areas continue to see larger home price gains compared with other areas of the country, due to both workers slowly moving back to job centers in some areas of the country and settling in relatively affordable places in others.
“After peaking in the spring of 2022, annual home price deceleration continued in May,” said Selma Hepp, chief economist at CoreLogic. “Despite slowing year-over-year price growth, the recent momentum in monthly price gains continues in the face of recent mortgage rates increases.”
“Nevertheless, following a cumulative increase of almost 4% in home prices between February and April of 2023, “Hepp continued, “elevated mortgage rates and high home prices are putting pressure on potential buyers. These dynamics are cooling recent month-over-month home price growth, which began to taper and is returning to the pre-pandemic average, with a 0.9% increase from April to May.”
…
Among states, Maine, ranked first for annual appreciation in May (up by 7.2%), followed by New Jersey (up by 7.1%) and Indiana (up by 6.9%). Eleven states and one district recorded annual home price losses: Idaho (-8%), Washington (-7.5%), Nevada (-5.6%), Montana (-5.3%), Utah (-4.3%), Arizona (-4.2%), California (-3.5%), Oregon (-3.1%), Colorado (-2.7%), South Dakota (-1.3%), New York (-0.3%) and the District of Columbia (-0.1%).
First
Second!
The Fed needs to cut rates with these dismal numbers.
Score another one. I told you this would happen. Lib, take the L on Murphy….it’s time. Guy is doing what I said he would. Your hate for unions blinded you on this one, this guy is a master politician and at getting chit done. He knows how to make money, hence, wheel and deal while at the same time have a good plan.
Thank you, Murphy! You saved this state.
Fabius Maximus says:
July 11, 2023 at 8:17 pm
Just drop this here.
https://www.cnbc.com/2023/07/11/new-jersey-most-improved-state-for-business-led-by-economy-housing.html
Bosses Push Back on WFH Die-Hards
Office attendance is slumping again and bosses have a warning: We are a worse company when you stay home. In buildings across 10 major U.S. cities, office occupancy has fallen back below 50% for the past three weeks, according to Kastle Systems, which tracks security swipes into offices. The drop comes despite new return-to-office mandates that affect more than 600,000 workers and counting. Now, bosses are weighing tradeoffs between office productivity and work-life balance, Gretchen Tarrant reports.
https://www.wsj.com/articles/work-from-home-productivity-bosses-658a832c
“Libturd says:
January 27, 2023 at 8:50 am
Short term, I’m guessing we’ll melt up until either oil prices slow the deflation or the spent consumer finally slows down. Sadly, I have no choice to start scaling back in.
Powell will get the next man of the year for orchestrating the soft landing. Then the bottom will fall out. :P”
After I posted this, Chi told me I had a FOMO, and his sentiments were echoed by Leftwing. I thought hard about it and decided that perhaps they were right, but knew both were relatively convinced that timing the market was a fool’s game. I decided to play it aggressive with our 401k and IRAs, but would remain more conservative with my taxable accounts (mostly my multi sale revenue) throwing them into treasuries and continuing to take advantage of bank promos which would earn me a fixed 5 to 9 percent annualized. Most of the bank promos required 3 months before the money could be moved without penalty. As each account freed up, I invested them into a combination of individual stock names and index ETFs.
So far, for 2023, I am up nearly 20% in my 401K (would have been higher but I am still 30% stable and the 20% I had in small cap has barely moved) and 12% in my IRAs. My individual stocks are on fire, but as usual, Captain Cheapo never lets them amount to more than 10% of his entire portfolio.
And remember, I saved my ass by timing my way out of the bear market like I had a Flux-capacitor fueled DeLorean.
And now for the hardest part. What the eff do I do now? I know the next two quarters are going to be incredibly difficult for corporate earnings. At the same time, I know there is a ton of investor’s dollars sitting on the sideline looking to get back in at any sign of cool down. Plus, this was a pretty long bear market historically and the FED can and most likely will cut rates at any sign of the market losing steam. I think I am just going to continue scaling in my last 20% or so that is still in stable funds and will risk my nice gains knowing that the FED’s probably got my back at this point.
Since I said I was scaling back in on January 27th, IXIC is up 20%, S&P 10% and the Dow is up 1%.
Good thing I feared missing out. :P
Lefty, check out SOFI. Will be profitable possibly this quarter, and definitely by EOY. Great product. I have abandoned Chase, with their 0.002 interest and crazy fees for everything (not that I ever paid any), but not before taking them for $2,000 on a 2-month promotion earlier this year. SoFi, is paying 4.4% but has amazing service and features. It’s simply a great interface and I can see more an more Zelle/Venmo millenials jumping aboard.
NJ’s been the beneficiary of some tailwinds that have absolutely nothing to do with the government and leadership of NJ.
Covid and the WFH trend has been generally positive for NJ. Less commute, less money spent commuting, this money is being spent locally instead of in another state (NY). Port and shipping activity through NJ has been very strong compared to the west coast. NJ is the beneficiary of China goods trade and eCommerce.
I fail to see how increases in home prices have anything do with NJ’s business climate, seems absurd that this is even a factor.
Day 3 of the 5 day water fast. Def lose water weight. 40% down and today we break the hump.
This is tough. I am in shape and used to intermittent fasting, but I love food!!! Tortured myself last night by watching “Flamin Hot.” Feel good origin story about the flaming hot cheeto. Pretty good movie.
Every time i open the fridge for water, these blueberries stare right at me….eat me! Lol
Every company currently that’s only NOW making an RTO mandate, is really just using it as a stealth layoff strategy. This is not a theory, this is not my opinion, this is absolutely the case.
Again, remember, I have a better vantage point than most.
I give credit to Murphy….But that’s just my opinion. He got a lot of deals done to help this state, esp knocking out the political bully…norcross. That alone was worth voting for Murphy….huge win for us.
Nice, Lib!
Libturd says:
July 12, 2023 at 9:26 am
Grim,
Can’t remember if I remember correctly, but didn’t Murphy point out all the strengths of the state and how it should be a powerhouse in his campaign at some point?
Did you read that article Pumps? Murphy raised our taxes from like 38 to 54 billion and most pundits are calling for a revenue shortfall by the end of the year. He did what every politician does. He spent hugely on an election year so his short-term results will look good. Whoever is the next governor is going to be completely fucked. And if you read the article, NJ is still 2nd to last in debt and this bozo continues to raise taxes on individuals and businesses in one of the least business friendly states. Saved NJ? Just wait until the end of the year when the oft-heard, “How was I supposed to know about the revenue shortfall?” echoes through Trenton.
I fail to see how increases in home prices have anything do with NJ’s business climate, seems absurd that this is even a factor.
NJ has unicorns and the best school districts in the world.
Read this Pumps.
https://www.njspotlightnews.org/2023/06/latest-nj-tax-collection-report-disappoints-budget-experts-predict-long-term-multibillion-dollar-budget-gaps
Lib,
I can get on that. Agree.
You have to admit though, Nj has improved over the last couple years. Murphy had good timing. Lucky.
Grim: I am in downtown Manhattan today for a office get together, very quiet all around, summer may be part of the reason, but still very quiet. Train parking lot had only a handful of cars at 7:30 this morning. Insider had an interesting article the other day on RTO appearing to have stalled. According to the columnist hybrid/ remote will continue to rise going into 2024/25.
Or this…
https://whyy.org/articles/new-jersey-deficit-grew-44-billion-last-year/
Lib: I don’t see how that Stay NJ program ever becomes a reality.
DNA squeeze coming. Opened at 2.20 but shorts/traders brought it down, but it’s coming. They are chitting bricks.
“The Fed needs to cut rates with these dismal numbers.”
This meeting may be interesting in terms of market response…volatility is just disappearing from the market today, yet still slightly above recent lows, and the market is all-in on a 25bps raise two weeks out….where’s the surprise hiding?
JPow *not* raising? Going 50bps? LOL.
You push through the presser (please for fucking once JPow just follow the script) after a 25bps raise and the next meeting isn’t until September…long time….earnings start Friday, these don’t surprise on the downside (note the double negative, didn’t say they have to outperform) and I’m seeing zero negative economic catalysts through the summer…
I think the only question is how the market will react to what I expect to be the worst quarterly (ttm) earnings we’ve seen probably since 2008. Again, if market drops based on valuation, then JPow can simply lower rates and right the ship quickly. Quite frankly, I think my January call was the safe bottom. Not the absolute bottom, but I always prefer to wait for follow-through. There’s a premium to pay for it, but it’s worth paying it for the reduction in risk.
LW,
According to my kid, I told her she ain’t my f’ing boss.
Sounds about right.
Got a bonus a few weeks ago at the job. Young kids crying about the taxes taken out.
Told them, sorry suckers, Biden sent your money to the Ukraine. Go there and get it.
“Sarcastic Biden, 80, asks press to LEAVE after telling Zelensky will keep sending billions to fund the war”
“After I posted this, Chi told me I had a FOMO, and his sentiments were echoed by Leftwing.”
Yo,yo, yo brother…don’t mischaracterize. I was (and am) pretty clear where my signposts are. In that thread I was going long MSFT and put out there that I was harvesting other profitable trades and posting specifically to you that I was looking for more ideas as I was underinvested…since then, likely most posted here, I’m staring at my screen and through combinations of options/shares long AAP (+8%), BAC (+9%), META (+70%), MS (+38%), SPY (+26%), VNO (+21%), XLF (+28%)….and that doesn’t include positions taken off for profit, eg. a bunch of VNO (13 and change basis, 50% up), VLY, ORCL…shit, I did a seven minute trade on SVV on its IPO day for 2% for not a small amount (liquid IPOs are a candy/baby situation for me, kinda know what I’m doing there)…Had that one dog I mentioned that cost me 1% of portfolio value but that is long in the rear view mirror, not visible any more…
Currently at about 25% invested by the screen (which is approaching 50% adjusting for the leverage in the options positions) and don’t forget my baseline income is from opportunistically writing premium…I generally don’t even look at anything less than a 80-100% annualized return there (with downside protection) and I’ll exit to provide about 50% up….while not a huge portion of my portfolio (c 20%) it doesn’t suck to start the year with a 10% baseline return…
Anyway, my thumbnail on the Fed meeting is posted above before I got to your post. On the market generally, we are right at my upper signpost of 4400 where I want to re-evaluate…tough given the timing, we’re hitting that Fed meeting and earnings, plus the distortion is still present from the megacaps…best guess right now, and where I am portfolio-wise, I’m assuming earnings/guidance will be slightly positive but won’t give the market an appreciable boost, maybe to 4700…that will allow the forward P/E to contract to a more reasonable level without a downdraft in share prices.
For me – and this is where our lines may get crossed – that is only 5% upside from where we are….I’m not going to take Fed and earnings risk for a 5% potential at a market top….much easier and lower risk for me to *sell* that risk and collect 5% or more….doesn’t mean the market won’t go up, there’s just better risk adjusted ways for me to get there….
Did I read this incorrectly? I was driving down Route 9 in Old Bridge and I saw a sign for “Infinity Discount Beer & Spirits”? I wanted to walk in and take advantage of the offer…….
Left,
Not knocking your style. I get it. It’s just a different and probably safer methodology. I simply don’t have the time to watch that closely. I’m happy beating the indexes I invest in. I do it mainly through market timing and fundamental research (harder, but more availiable). The problem with market timing is I only get to play that game about once per decade on average. And I think I am done for this decade. I think market timing with the interest rate this high is silly. Unless people really think the government cares about debt. If they do, they haven’t been paying attention to the world for the past 50 years.
Fortune article, Pantheon Macroeconomics says housing affordability is out of whack, and those that believe the market has bottomed and now rebounding are wrong, further states there will be more declines in prices.
They are still going down in Vegas.
DNA tested 2.20 twice today. Glad I bought the chit out of it when the sky was falling in the 1.20s.
those that believe the market has bottomed and now rebounding…
There’s no such thing as a bottom in the north east… it’s a meteoric rise, then a pause at base camp before continuing the ascent. Except, there’s no reachable summit, it’s a forever climb into the galactic abyss.
1:21 the Infinity stuff is all under the counter .
I like SOFI. Could be a good growth play.
Re: Infinity
My kid broke his iPhone screen at camp so here I am with a $30 replacement screen I ordered off Amazon trying to remove size 000 Y screws with my eyesight. Thank god for the cheater glasses, it seems with every new device Apple tries to make the screws infinitely smaller, while using three different screw heads for a part that is a few millimeters wide.
If I don’t get it fixed it’s off to buy a new one, as he is panicking now since he does not know his girlfriend’s phone number to call her as they only txt and he did not memorize the phone # Lol!
Lib, comfortable on my style, and yours. Suitable for each of us respectively. Was just noting I wasn’t bearish back in January, and actually accumulating positions through the 1Q. And ultimately I do want to go all LT holds, judiciously.
Two misses for me, SOFI was on my watchlist at 5.00 and just somehow didn’t see it, not going to chase it now. And the builders…missed LT hold there across the board, TREX really hurts, below 40 was my target, she got to 38.68 and I was watching it closely and thought I could do better…70+ now….that one hurts….
Left,
Hell of a call on TREX. Def nailed that.
Fast: Thanks for reminding us of how it’s different here.
Calls without dollars behind them are farts in the wind Pumps.
Score one on my fix it iPhone repair, new screen worked like a charm although I don’t think it is now waterproof as it was before up to 3 feet. Kid is happy again for $30 bucks, and I don’t have to shell out $729 for a new iPhone 13. I know how an adult feels when separated from the smart phone but the kids today all grew up with them and it is really another appendage, they cannot function well without.
Speak of WFH my wife’s company has a naughty list now, 3 out of five days in office or you are on the list. She made the list as it was one or two days at best.
Just In: Inflation was 3% in June (y/y). That’s an incredible drop from a year ago when inflation was 9.1% (y/y) in June 2022.
Rent/shelter accounted for 70% of inflation in June 2023.
**Wages are now rising faster than inflation**
left & lib: I was bearish in January and have been bearish all 2023. Just did 2Q2023 reporting. I was on the conservative end of the allocation and left money on the table, but the flip side is that it isn’t my money that I’m playing with…… I fuck up, then I’m fired….. and fucking up in my world isn’t leaving money on the table, it is setting money on fire. My financial incentives are the opposite of yours…. I get paid for ensuring the cupboard never goes bare.
That said, my colleague and I are on the same page, except he had massive slugs of NVDA and rode it all the way down and back. I am disgusted at how much he smoked my ass just now. I am so pissed.
Juice,
I’m more impressed you were able to find a screen for 30 bucks. I’ve only seen the cover glass for that price.
Phoenix -Depends on Model the digitizer aka screen etc..
iPhone 11 is about $30
12 model is like $32
13 model is like $75
14 model like $125
All on Amazon, some brands are however junk.
Well,
If everyone else is allowed to hack, why not the Chinese? Rules should apply to all or none.
“Chinese hackers breach email of Commerce Secretary Raimondo and State Department officials”
Juice,
Since you are so good you can apply to work at Foxconn now. 😂
Chinese walked right in the front door of the State Department.
From what I have read there was a key chain exploit used. Encryption folks. A Microsoft signing key (creates other valid encryption keys) was stolen and exploited to impersonate users that let them in the front door.
You can bet the State Dept did not pay for the deluxe security offerings, and anyone they hired most likely some Virginia based lowest bidder government contractor hired to keep an eye on things was at the beach or out fishing.
Phoenix- Foxconn just scuttled a billion dollar plant they were setting up to move jobs from China to India. My take is they were being told keep the jobs in China or else. Then again the Indian folks probably did not make it easy for them, every local government official wanted a green fee around every corner.
Goldman: “For first time in 2023 we are being asked by multiple clients if we think the S&P 500 is now on track to clock an ATH before year end. We are going with a yes on this…”
Taiwan learning who their friends are. Making a pittance on the chips they produce- they make pennies while America makes dollars off the hard working people in Taiwan- soon to be less important to America once America starts it’s own factories.
Taiwan is just a cheap wh oor to American interests and as soon as America doesn’t need them will be dumped on the side of the road with a smoking TSMC facility says Biden.
The US would sooner see TSMC fabs destroyed than fall into Chinese hands should Xi Jinping invade Taiwan, according to a former national security advisor to the Trump administration.
“The United States and its allies are never going to let those factories fall into Chinese hands,” Robert O’Brien said at the Global Security Forum in Qatar this week.
I can already foresee a US based TSMC factory employee sneaking in a bag of potato chips destroying a clean room for chip production the day he is denied a raise.
Here’s the problem TSMC has. If they move too many operation to the US, the US loses all incentive to protect Taiwan from invasion.
My room was in the Bellagio on the opposite side of that nutjob at Caesars who shot out the window and started tossing stuff out. Fortunately, we were at the aquarium when this was going on.
LOL
https://www.dailymail.co.uk/news/article-12294035/Kamala-Harris-says-artificial-intelligence-kind-fancy-thing.html
Rates completely reversed back to levels prior to ADP.
Ten 382
Inversion 82
I think the inversion had pushed to 110+ after ADP
Beer,
I love when Camela says. “AI is two letters.” LOL.
Oh G0d, help us.
Go DNa! U.s govt bio security contracts. So it begins… another source of revenue.
https://www.prnewswire.com/news-releases/iarpa-awards-b24ic-research-contract-to-ginkgo-bioworks-to-develop-breakthrough-biointelligence-and-biosecurity-innovations-301874790.html
Ai means love in Japanese. Hope the VP pointed that out.
60% done. Two more days to go. This water fast sucks if you enjoy food, but does give you time to focus and reevaluate on self improvement.
TSMC and other chip factories aren’t moving that fast in the US, and even when done, aren’t going to be a big % of global production, unless you get a further wave of plants after that. 10+ yrs away. They’re complaining that the costs of production aren’t going to be as good in the US. Seems like it will only pay off if they can get a premium for US made stuff, which is only likely to happen if enough customers have mandates to buy from US plants. I don’t know how many chips would have to be bought, like US military buyers.
Underrated news. Proves the model works. Gingko ceo…
“Congrats to the team at @allonniabio !!
Love to see biotech startups launching “labless” (i.e. without a large, in-house biotech lab) on @ginkgo’s platform!!
Very efficient use of capital that VCs like to see and helps secure follow-on funding rounds!!
https://twitter.com/jrkelly/status/1679462122575605760?s=46&t=0eaRjeKWHSIY8WCyPT4KMg
Crack!!! Did you see that? It’s out of here!!!
What Lib said is absolutely on point yesterday (you get 1 or 2 shots a decade at this strategy)and what I have made majority of my money on. Cycles. I did it first with real estate, where i learned about it over time, and then with stocks as I realized cycles exist in this market too.
From my years of investing and learning from mistakes, if i could only give one piece of advice, it would be this. If it was very easy to buy said investment, it most likely will be a loser or make just enough to match s&p 500. If you have major trouble hitting the execute button, and have to hold your nose to buy, well, this is where the wealth is created. Actually very easy to make money in this environment, but very very difficult to execute and act on due to fear. In simpler words, buy when there is blood in the streets and sell when the sky is sunny.
Majority of people do the opposite. They can’t control themselves. And truth be told…this is how the minority get rich off the majority in any said investment. Everyone can’t make money, someone has to lose for others to win big.
Anyone like SQ?
Fast
Shes like an old Saturday Night Live skit.
Good morning. Inflation cooled last month to its slowest pace in more than two years, giving Americans relief from a painful period of rising prices and boosting the chances that the Federal Reserve will stop raising interest rates after an expected increase this month.
The consumer-price index climbed 3% in June from a year earlier, the U.S. Labor Department said Wednesday, sharply lower than the recent peak inflation rate of 9.1% in June 2022, when gasoline prices hit a U.S. record average of $5 a gallon.
CPI is long established and widely used in the U.S., but a different measure suggests inflation has dropped even further. The Bureau of Labor Statistics also produces an inflation gauge using the Harmonized Index of Consumer Prices, which is what Europe uses, as an experimental measure. U.S. core inflation – which excludes volatile food and energy prices – measured using the CPI was 2.6 percentage points higher than the reading using HICP.
To make matters even more confusing, CPI gets almost all the focus, even though the Fed sets its 2% inflation target based on the personal-consumption expenditures price index, PCE, from the Bureau of Economic Analysis. PCE comes in lower than CPI.
The most important question that the gauges seek to answer is whether the underlying pressures are so strong that the economy needs to be restrained further. Will a strong jobs market mean workers flush with pay increases can consume more, keeping demand up and so allowing companies to raise prices?
If so, the Fed will have to keep raising rates. The lower core HICP inflation suggests the problem of a strong jobs market is less worrisome than on the CPI measure. Unfortunately, even if core inflation does drop more, it will still be too high for comfort on the CPI and PCE gauges that investors and the Fed focus on. Ultimately, hawks are concerned that continued above-inflation pay increases will push inflation up, as companies pass on higher costs.
Hold: It is scary, she could be President.
HMB,
To be fair, she was speaking about AI to a group of labor and civil rights leaders, so had to speak to the same low level of intelligence as her own. Wonder if her intern wrote the script with Chat GPT , with a prompt about “AI for Dummies”.
No One: Apparently she has had incredibly high turn over with her staff, do to her being very difficult to work with. Talking points are prepared for her on various topics , and she ignores them. Apparently she is incredibly arrogant.
Is this legit?
https://www.france24.com/en/technology/20230215-israeli-firm-boasted-of-meddling-in-more-than-30-elections-worldwide
We have investigated ourselves and have determined we are innocent.
Secret Service will CLOSE White House cocaine investigation WITHOUT finding any suspects: Biden administration faces cover-up claims as Republicans tear into ‘ridiculous’ suggestion there’s ‘no idea’ who left drugs in West Wing locker
Is this legit?
https://www.theguardian.com/world/2023/jul/10/spain-closes-pegasus-investigation-over-lack-of-cooperation-from-israel
No One and 3b
I’ve heard that she doesn’t read the summaries her staff prepares. Another dumb narcissist.
Pumps
How’s your DNA? I bought 1k shares last week at $1.99. I’m up $280. Winning
Thanks Boomer (tail end BOomer not included)
The United States, however, now borrows heavily during periods of economic growth to meet basic and ongoing obligations. It’s increasingly unsustainable. Over the next decade, the Congressional Budget Office projects that annual federal budget deficits will average around $2 trillion per year, adding to the $25.4 trillion in debt the government already owes to investors.
Borrowing is expensive. A mounting share of federal revenue, money that could be used for the benefit of the American people, goes right back out the door in the form of interest payments to investors who purchase government bonds. Rather than collecting taxes from the wealthy, the government is paying the wealthy to borrow their money.
By 2029, the government is on pace to spend more each year on interest than on national defense, according to the Congressional Budget Office. By 2033, interest payments will consume an amount equal to 3.6 percent of the nation’s economic output.
Someone else took this picture but this is almost exactly the same angle I had from where I was sitting. As a side, even if you aren’t into racing, this race was just mesmerizing to watch!
https://tinyurl.com/36vbfjkv
That a boy, hold! Welcome to the team. Hoping for an epic squeeze. You know I love it long, but will sell the squeeze if it happens or already is underway.
Think cathie is playing with the shorts now on this stock.
Hold: I have heard the same, top level staffers have left, almost since she took the office. There is no excuse for her unpreparedness. Ignorance is not a sin, refusal to do something about it is. I am sure world leaders laugh at her amongst themselves.
Farmers Insurance officially pulled out of Florida, leaving 100,000 homeowners without coverage.
This is the fourth major insurer to pull out of Florida in the past year.
Rates this year are expected to soar by about 40% due to increased risks from extreme weather like hurricanes.
Homeowners in Florida are already paying three times as much for insurance coverage as the national average.
Would you live in Florida?
https://twitter.com/fluentinfinance/status/1679511285577162753?s=46&t=0eaRjeKWHSIY8WCyPT4KMg
O’Biden and Camela… without question, the dumbest Prez and VP in the history of our country. A vegetable and a twit… wonderful.
When I read stuff like Eddie just commented, written by people like Eddie, my wish is Biden passes away peacefully in his sleep. Can you say president Harris? Would be worth it just to see all the haters go wild.
What a joke. Kathie Woods sold 12 million shares of coin today. How do people put any trust in HER. She also sold Nividia. I have coin so far it has gone up today $21.62. unreal she couldn’t punch her way out of a wet paper bag.
Question are her fans just stupid ?
3:35 Thing is Biden is a very solid President. The Republicans have lowered themselves into the Abyss through no intervention on the part of thinking people.
Automotive News
Young auto borrowers falling further behind
John Huetter
Generation Z and millennial borrowers are falling significantly behind on their car payments at rates last seen during the financial crisis of 2008 and 2009, according to an analysis of Federal Reserve data by car insurance comparison site Jerry.
And that’s during a time when they didn’t have to make their federal student loan payments — a budget burden that could ding millions of borrowers’ credit, the alternative credit score provider VantageScore notes.
The Federal Reserve’s quarterly household debt report, which draws on Equifax data to produce its auto loan delinquency results, breaks out borrowers into age ranges including those 18 to 29 and 30 to 39 years. These brackets capture what the Pew Research Center had previously defined as older Gen Zers (the generation starting with 1997 births) and nearly all millennials (those born in 1981 to 1996), though the organization in May said it would reduce its use of generational labels.
Those age demographics historically have been more severely delinquent than the national average, according to the Fed’s study, which contains results from 2000 to the first quarter of 2023.
On average, 3.58 percent of 18- to 29-year-olds and 2.62 percent of the 30- to 39-year-old population have been late on their auto loans by 90 days or more during that time, compared with 2.13 percent of all borrowers. But the spread between those younger groups’ delinquency rates and the national average has been elevated.
The 4.55 percent 90-day delinquency rate among 18- to 29-year-olds in the first quarter of 2023 was the highest since the fourth quarter of 2009, and the 3.06 percent rate among 30- to 39-year-olds was the worst since the third quarter of 2010. The Fed’s figures are four-quarter rolling averages.
“Delinquencies are also rising at a blistering pace,” Jerry data journalist Henry Hoenig wrote in the June 2 Jerry report. He called the growth from the first quarter of 2022 to the first quarter of 2023 the sharpest of any 12-month period in the Fed’s more than 23-year data set. The increase seen in the first quarter of 2023 among those ages 30 to 39 was the highest year-over-year bump since 2007, Hoenig said.
Customers’ struggles to pay bills can erode future dealership business.
“The surge in delinquencies coincides, perhaps not surprisingly, with a steep drop in new auto loans, particularly among borrowers with lower credit scores,” Hoenig wrote.
The amount borrowed for vehicles in the first quarter by consumers ages 18 to 29 fell 25 percent from the fourth quarter of 2022, the largest quarter-over-quarter decline found in the Fed’s data, according to Hoenig’s analysis. Borrowing dropped 17 percent quarter over quarter among the 30 to 39 age cohort, and 18 percent among those ages 40 to 49. But he also noted that tightening by lenders also could have cut into the amount of money borrowed for vehicles.
Hoenig told Automotive News in June that younger generations’ financial issues stemmed from the COVID-19 pandemic in 2020. The initiation of stimulus payments and debt forbearance programs — particularly with student loans — improved consumer credit scores, he said. Consumers were able to borrow more for vehicles than would previously have been possible.
“I think younger generations, particularly Gen Z, went on a kind of car-buying binge,” Hoenig said.
From the end of the second quarter of 2020 to the end of 2022, consumers younger than 40 committed to the largest dollar amount of fresh auto debt of any 10-quarter period in the Fed’s records, Hoenig wrote in a different Jerry report.
It helped swell the amount collectively owed on vehicles by borrowers ages 18 to 29 by 31 percent between the second quarter of 2022 to the end of 2022, while outstanding auto debt among those ages 30 to 39 rose 29 percent. These were the largest balance increases during that time among any of the age groups studied by the Fed.
But the rising cost of car ownership has left younger borrowers struggling to cover car payments as well as manage other debt, he said, adding that he thinks “they overextended themselves as young people tend to do.”
Hoenig said he lacked data but agreed with the idea these delinquencies would affect which vehicles borrowers purchased down the road.
“It seems logical,” Hoenig said.
A customer who defaults will flounder and likely need to buy a lower-priced vehicle, he said.
“You may struggle to get credit at all because lenders are tightening their standards already,” he said.
Younger borrowers could have an even harder time obtaining auto loans and paying their bills with the impending resumption of regular student loan payments.
The COVID-inspired federal student loan forbearance program stops at the end of August, and those who borrowed must resume payments around October, according to VantageScore. According to U.S. Department of Education statistics cited by the alternative credit score provider, nearly $1.3 trillion of federal student loan debt had been put on hold as of December 2022.
And borrowers counting on a bailout might have lost that option as well after the Supreme Court’s ruling in Biden v. Nebraska last month. A 6-3 court held June 30 that the secretary of education lacked the authority to erase $10,000 to $20,000 in student loan debt for tens of millions of eligible borrowers.
That same day, VantageScore predicted 34 to 76 percent of 40 million borrowers with student loan stays might miss their first student loan payment once the forbearance period ends. Doing so would mean a 49- to 82-point hit to their credit scores, VantageScore estimated.
“Based on prior loan payment behavior, we know a significant percentage of student loan borrowers will struggle with making payments when the forbearance ends and this likely will be exacerbated by today’s Supreme Court decision,” said Andrada Pacheco, VantageScore senior vice president of data science and modeling. “An additional concern is that the restart of student loan payments may impact delinquency rates for other loan products, particularly for borrowers who increased other forms of debt while the pause was in effect. It’s important for these borrowers to clearly understand their debt obligations and know how missed payments can impact their overall credit score
Bullard is stepping down from the Fed in August. One of the hawks on the board. He is going to Purdue. He will not be part of the late July rate setting meeting.
She has to constantly move positions around. Tell you what she hasn’t sold EVER…DNA. She also started buying more DNA this past week.
Jim says:
July 13, 2023 at 3:40 pm
What a joke. Kathie Woods sold 12 million shares of coin today. How do people put any trust in HER. She also sold Nividia. I have coin so far it has gone up today $21.62. unreal she couldn’t punch her way out of a wet paper bag.
Question are her fans just stupid ?
Old: Speaking for myself, I believe Harris is an embarrassment, and it’s clear she is not suitable to be VP, never mind President. I thought someone who was the state attorney general of California would at least be coherent, and able to speak clearly and concisely. As well as an Attorney you would think she would be prepared for whatever topic she plans to opine on, and you would also think she would have no issue with having those knowledgeable on a particular subject prepare reports/ talking points for her. This nonsense of just going out there and winging it, is simply not acceptable and embarrassing to both herself, her family and the country. It’s got nothing to do with hate, but rather competence
Mama Kamala is an interesting bird.
But no not as POTUS. I’d like to see Newsom there.
ExEx: YES!
https://www.politico.eu/article/luxembourgs-nato-delegation-arriving-on-depeche-mode-plane-in-vilnius/
She doesn’t sell any small cap positions because if she did, she would crater the stock.
Trump Super PAC Made $155,000 Payment to Melania Trump in 2021
The money was listed as pay for a “speaking engagement” by Ms. Trump in a new personal financial disclosure by her husband.
ExEx says:
July 13, 2023 at 3:41 pm
“Thing is Biden is a very solid President.”
I know that I shouldn’t be surprised at this point, but the stupidity of biological males that identify as Democrats is simply stunning.
I can’t imagine being dumb enough to vote Republican.
Smallgov is another guy who makes me wish for a president Harris.
The one thing both parties have historically been able to agree upon us funding for the military. Guess that isn’t true anymore. Bunch of Smallgov’s heroes are busy putting on a pointless show in congress about culture issues. Small, you must be proud.
Funding big military contractors and screwing veterans.
The GOP way.
I can’t imagine being dumb enough to vote for either the Republicans or the Democrats.
To protect and get serviced.
https://nypost.com/2023/07/13/detroit-police-commissioner-caught-in-car-with-prostitute/
Hold: It is scary, she could be President.
Oh please give me an effin break. Smart and on point, just like Biden.
I always enjoy watching how she filleted Barr. https://www.youtube.com/watch?v=ktdi_L0rYkk&t
I can’t imagine being dumb enough to vote for either the Republicans or the Democrats.
But as shown and explained at the time. You hate Hillary and you didn’t vote for her, You own Trump and all that is still falling out from that disaster. And you will own it going forward on every SCOTUS decision.
You reap, just what you sow!
How is that Clinton Foundation doing these days?
Going down?
Fab: You did not show or explain anything. And, again I don’t hate Hillary I never said I did. I don’t own Trump, and all your ramblings about SCOTUS etc.
There is no other choice today for non ideologues today, except to stay home. I only stopped voting for President in 2016. Every other Presidential election, and every other election I have voted. My conscience won’t let me vote for the candidates that have been put forward by both parties since 2016.
Don’t criticize those of us and blame us for Trump etc, because we won’t be guilted into voting for Democrats. In facts it is disturbing that you hold that view. Perhaps, you envision the day when the Democrats win elections with 98 percent of the vote, like in Eastern Europe under communist rule. You and other Democratic Party cheerleaders should be embarrassed that all you can offer the American people, is Biden/ Harris, do you own that?? And yes the Republicans should be embarrassed with Trump, 4 years of chaos and he is back again.
Fab – every SCOTUS decision
I gather you don’t think Students for Fair Admissions was a good outcome?
Constitution’s guarantee of equal protection under the law applies to all. We either believe in equal protection or we don’t.
Can you say president Harris?
Au contraire. That would be wildly entertaining! Imagine an ongoing SNL script. I’d tune in to listen to her every baffling word. And I would hope they’d keep the Chocolate Shirley Temple to add to the comedy.
Thing is Biden is a very solid President.
LOLOLOLOLOLOLOLOLOLOL!!!!
Newflash Juice..we don’t believe in it. Equal protection followed by 1oo years of separate but equal with open discrimination for housing, voting, education and union/ workforce exclusion proved that one.
Trump fanned the flames when he wanted to hijack the news cycle, but the chaos narrative was mostly a result of the fake news. The years of nonstop hoaxes.
Contrast the amplification of those with the coverage of Biden. He has a cocaine addict son who he admits is one of his closest advisors. Business partners in a world wide bribery scheme. The media coverage portrays it as some how ambiguous. Hmm. Two plus two makes five.
But it’s what I lot of people want to hear so they will keep cranking it out. That’s how we get a significant number of people concluding that an incoherent vegetable constitutes a solid president. A reality of your own choosing.
Bystander – So you don’t believe in equal protection?
So what discriminate against Asians for another 300 years? When does it end if ever for them?
Let them all know we are striking equal protection from the constitution and as Sotomayor said in her dissent ” it requires no such thing” and might as well erase the constitutional protection promise from history and all records as it should not be made at all.
Crumbling exports out of Asia are setting off alarm bells in the U.S. goods economy. A steep annual decline in Chinese exports last month came as outbound flows from Taiwan, Vietnam and South Korea also fell sharply. The WSJ’s Jason Douglas reports that global trade that has been softening for months as consumers turned from goods to services is now facing pressure from cooling growth in the U.S. and Europe. Longer term, the outlook for global trade has taken a hit as major economies push to restructure global supply chains and bring a bigger slice of manufacturing and investment back home. Some economists now see global trade growing more slowly in the years ahead than the global economy. U.S. imports of goods were 5.5% lower in the first five months of the year than last year, a sign that retailer destocking efforts are reaching deep into trade.
The perception that doing business in China has become riskier is choking the flow of foreign capital into an economy already struggling with weak private investment and consumption. (WSJ)
China’s semiconductor imports slumped 18.5% by volume in the first six months of 2023. (South China Morning Post)
China going to take down the world economy. That’s what we all get for relying on a demographic time bomb with dictators as leaders.
Now you get it..might too late.
“We do not want to decouple from China but to reduce risks as much as we can.”
— German Foreign Minister Annalena Baerbock
“Smart and on point, just like Biden.”
By that standard, Fabmax and Pumpkin are also both smart and on point. Congrats!
Of course, that logically would suggest that the rest of us are ultra-focused super-geniuses.
The Biden haters can’t seem to decide whether Biden is an incompetant senile old man or a James Bond level super criminal.
Pick one and stick with it!
You know how you win in real estate? Cash. When rates are high, buy cash. Then when rates are low, you sell.
You are insane.
No one said he was sophisticated. Ever.
He had his att burner phone. The surrogates did the dirty work and the big guy got his cut. Launder the money through shell companies. It’sa cottage industry in congress.
Biden haters? Which ones?
All recent surveys say the democrats want another candidate for 2024, that is not exactly espousing any kind of love.
Holy Shit this is unbelievable…..
https://www.youtube.com/watch?v=Yn3yKN5W1YA
OC1,
No Biden hater has ever thought of him as a James Bond like super criminal. At least I’ve never seen evidence of people suggesting that.
Just the same political hack with substandard intelligence, and a penchant for selling his political pull, disguised in the past as “bipartisanship”. But in recent years we’ve learned that he’s also become increasingly senile, while his crooked family have cashed in even bigger on his political pull. Nothing particularly brilliant, as usual, from this family, just a third rate son getting money from second-rate companies in corrupt countries, hinting that his dad is in on it but not explicitly.
What’s really quite interesting is how the Feds only indicted a guy for spying for the Chinese after he started spilling the goods on Hunter Biden. Was that like a Mexican standoff for a few years where they were each threatening each other to be quiet?
I don’t doubt that this Gal Luft guy is a spy. He probably has been for years, so why wait till now to indict? It doesn’t mean he’s lying about Biden family payoffs. I’d guess there are at least 10,000 spies and unregistered agents working on China’s behalf in the US. Nearly all politicians, universities, and large companies would be found entangled in their web. The Trump and Biden families. The Bush family. I’d love to see a Red Scare 2.0 start, actually. China’s become increasingly fascist and actively hostile to Western values that both (some) Democrats and Republicans allegedly cherish.
justice.gov/usao-sdny/pr/us-attorney-announces-charges-against-co-director-think-tank-acting-unregistered
I would like to see another Dem candidate for 2024 too.
But that’s just because of Bidens age.
“But in recent years we’ve learned that he’s also become increasingly senile, while his crooked family have cashed in even bigger on his political pull.”
Biden’s been a pretty successful president for a senile guy- maybe we need more “senile” presidents.
His family may be grifters, but I have yet to see a shred of real evidence that Joe was involved.
“What’s really quite interesting is how the Feds only indicted a guy for spying for the Chinese after he started spilling the goods on Hunter Biden. Was that like a Mexican standoff for a few years where they were each threatening each other to be quiet?”
This the guy who’s on the lam now, right? A fugitive from justice? He’s a very reliable witness.
No comment re the whacko conspiracy theory.
“All recent surveys say the democrats want another candidate for 2024.”
They didn’t want him for 2020 nor HRC for 2016 either. Between the Superdelegates (yeah, some people’s votes are worth the same as a 8,000 registered voters) and the wheeling and dealing of the Dem establishment to make sure that the split candidates all dropped out in exchange for positions in the ordained leader’s administration. Your vote in the Dem primary is complete worthless. Whomever the establishment ordains prior to the primary will ALWAYS win because keeping the gravy train (funded by immoral and often unethical, but not illegal methodologies) is way more important than the policies the electorate would like to see put in place.
It’s actually kind of crazy they are called Democrats. There is nothing Democratic about the party. The party is not governed by the will of the people in any way shape or form.
We can talk about the Republicans in similar light to. They too are out to enrich themselves. Worst of all, they don’t even hide their immoral and unethical behaviors. Their base trends so unintelligent, they simply believe anything you tell them. Heck, Trump convinced the trailer park/Nascar/Christian/hate crowd that he was one of them. He didn’t even try to cover up his lies. He simply wrote everything off as fake news and his decipals took the bait. Of course once in office, he did the same as any establishment Dem does. He personally enriched himself. Surprisingly, he actually threw a few crumbs at the Christian/Hate crowd too.
Face,
In a lot of markets around the country, this applies right now. Some are down big. .
The Christians got their judges from Trump, seems like that’s all they cared about.
Trump convinced the trailer park/Nascar/Christian/hate crowd
I enjoy the “trailer park/Nascar/Christian/” part very much so. I love that crowd. I don’t hate anyone, though. I like nice people with good intentions and good hearts. At the hotel in Peachtree City this past weekend, after the race, there was a black guy with his very young son taking his sweet time getting to the elevator. I held the elevator door for them, the dad thanked me and smiled. I gave the guy an extra cigar I had, told him to enjoy after Mom puts son to bed. He was more than delighted.
Wonder what that black guy would have thought if he heard you say Chocolate Shirley Temple?
If you have standards for conduct, that’s now considered by some to be hate and bigotry. If you think it’s perverted to discuss sexual preferences with children you’re a bigot. It’s hate speech.
Same thing happened with racism accusations. They started calling conservative blacks racists and white suprematist. The words lost all meaning.
What a riddle this is an Israeli arms dealer fingering the Biden family?
Gal Luft was arrested back in February on an Interpol warrant on his way back home to Israel at the airport in Cyprus, he made bail $400,000 and well went home, he is not on the lam as some say as under their laws the right of return says he is pretty much untouchable at home. He was indicted in the US in secret in November, no word yet whether we will ask for extradition.
What is interesting is his relationship with the Chinese energy company CEFC and their former lobbying arm here in the USA. CEFC-USA paid this guy Gal Luft to lobby unregistered, he lobbied both the Obama and Trump administration. CEFC was run by a Billionaire Ye Yianming from China who has been detained since 2018 apparently under orders from their top leadership.
Luft recent claims are Hunter was paying an FBI agent to be a mole. FBI Director Wray confirmed in this weeks testimony to congress there is still an ongoing investigation as in it is not closed, but to his credit that is all he would say.
What is interesting is the one guy from CEFC-USA that was convicted here in the USA of seven counts of bribery and money laundering. Patrick Ho has already been released from Federal Jail and extradited back home. They won’t be able to squeeze him for information.
The one US person who connected the dots was Tony Bobulinksi. He and the Biden family met and worked together to create Sinohawk Holdings to engage in a partnership with CEFC-USA, which dissolved later under Hunter’s drug induced malfeasance apparently.
The latest allegations are of Hunter Biden’s shakedown of the Chinese via CEFC, as outlined in WhatsApp messages and emails etc.
There is documented proof that CEFC wired $5 million to the Hunter Biden’s firm Hudson West III on Aug. 8, 2017. There is no denying money changed hands. Should he have been doing business with them? Absolutely not but at the time he was a crazed drug addict, and well should be prosecuted just like anybody else.
I would also say “Biden family” again and CEFC again because most of the cash was transferred to a bank account controlled directly by Hunter Biden, while $1.4 million found its way to the Lion Hall Group James Biden’s consulting shop.
Lots we do not know for sure. It will either take years to shake itself out or be swept under the rug. I would say the clock may run out, as it has already for many of the people involved here not just Hunter Biden and family.
No proof the big guy got any money directly. I don’t think he is that stupid to take a check or wire. Anyway it matters not he is now POTUS and cannot be prosecuted even if they found money in the trunk of his corvette.
Just another reason to pull the lever for someone else. When I say someone else, somebody preferably under 70 years old.
Wonder what that black guy would have thought if he heard you say Chocolate Shirley Temple?
I’m sure he would’ve laughed since she looks like… um… a chocolate Shirley Temple. Just as Jen Psaki looked like Peppermint Patty. Chocolate Shirley is sort of cute though… despite her brain being poisoned by leftist ideology.
Gary,
I love that crowd to. And tend to gravitate towards them and away from the shallow, my shit don’t stink, hipster/academia crowd. Really, I do. But, I can’t align with the “good old days,” mantra. The good old days were good mainly due to privilege. It requires a certain level of intelligence to see it. Or you can simply study the Civil Rights Movement to see how really bad the Good Old Days were to nearly everyone who was not a white Christian.
Finally figured out Eddie’s definition of “Classical America”. He shares the same White Nationalist views as the trailer park/Nascar/Christian crowd.
You have to make up new terms like (Classical America) because old terms already have definitions. Just ask Tommy Tuberville.
Perhaps Traditional America is a more accurate term than Classical America. Progressives love the “modern” America since it’s more secular, schismatic and resentful. Somebody owes “me” something and they’re going to pay! If you don’t see it my way, you’re a nationalist, rac1st or every yyyist that exists. Liberals or progressives or whatever they’re called these days love chaos and disorder, it makes them feel like they belong. The fear of standing on their own terrifies them.
Eddie, no boys allowed.
These days it’s only the former CNN journalist Suzanne Malveaux who eats that chocolate covered, cream-filled cherry.
Both of them have significantly changed their appearance from many years ago. Jean-Pierre wears doll-looking makeup. Malveaux, who identifies as black, has tanned herself dramatically to get that Rachel Dolezal look.
12:16 your taking out of your ass. Word salad nonsense.
If you were walking in a park and you saw a bear on the trail, would you call the police on it or mind your own business and keep walking?
Itz hot in PHX today. People live like reptiles here. Folks are out and about in the AM, then under a rock until the sun sets, at which point the neighborhood comes alive. If you can call it that, as everyone is in their little AC bubbles. Very isolating.
I still don’t understand why they don’t insulate homes better here. You’ve got homes built with these huge 6X8′ window openings. Two pane glass, metal frame, not installed into anything insulating. The window frames are warm to the touch and I am sure transfer a lot of heat inside. The AC is working to stay at 78F.
The back of this house we’re in is pretty much all glass with large glass openings to the back yard. Motorized window shutters would do a much better job of keeping cold air inside but alas, everything is a home depot special.
Spoke to my buddy in Miami….heat index is off the charts there. Literally cannot be outside after 9am.
Boomer,
Light colors on the outside of homes, white reflecting roofs, etc, would really help.
But America is a country of what looks nice vs what functions well. It’s an emotional human thing.
A contractor will give you a low height basement in order to save 500 dollars and have you suffer as long as you live there.
It’s a personality, greed, narcissist, Marlboro Man type of problem. Now with agitated Marlboro Women.
The sun provides you with approximately 1370 watts per meter squared.
You can do with it whatever you want.
Entropy will tell you that the planet will radiate every last bit of that back into space.
Boomer Remover:
This is the guy who can help you in your quest to stay cool.
https://youtu.be/dNs_kNilSjk?t=194
BR, I didn’t mind the 112 Phoenix heat last week. It’s a lot better than 93 in NJ. I was sweating a lot less there than I am here. That sun is intense though.
Phoenix — Cynical at first pass but undeniably true.
PHX is on its fifteenth day of above 110F heat IIRC? Tomorrow is set to break records at 118F. We leave for tribal lands on Sunday.
The other thing that’s shocking is how spread out everything is. The concrete sprawl just goes on forever! I drove 27 minutes, 20 miles, to a Whole Foods/Costco. Granted we some ways up there in northern Phoenix, but still. Roads, and stroads for miles, that and jerkoffs in pickups gunning light to light.
BRT – Yes it is the sun that makes you want to seek shelter. The combo of 15 mph winds over clear skies and the temps make it feel like a convection oven.
As much as I agree with you re: nineties on the east coast, at lease you know the reprieve is coming. Here, you just hunker down for month long periods of 100+ and intense sun.
BR,
This cuts to the chase if the video is too long.
https://youtu.be/dNs_kNilSjk?t=2806
Btw, I did the much hyped Pizzeria Bianco in Phoenix. I was pretty impressed. His other restaurant Tratto was great as well.
You are sweating more, just not aware (but you know this….)….. in Israel and Egypt I was drinking 3 or 4 entire 1.5L bottles of water a day and never took a leak.
Brt says:
July 14, 2023 at 2:37 pm
BR, I didn’t mind the 112 Phoenix heat last week. It’s a lot better than 93 in NJ. I was sweating a lot less there than I am here. That sun is intense though.
Ah Arizona..
https://www.youtube.com/watch?v=llAHmvRZCYo
ExEx:
https://youtu.be/UwC9gUmJXlY?t=555
Just bought our tickets for the last US date on the Tour.
Phx, I am impressed you fished this video out in no time and knew where to cut to.
Yes, this is true. I just didn’t need to change my clothes like I anticipated. I think the massive amounts of tap water consumed is what actually got to me. Montezuma’s revenge.