Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. We also cover hedges, derivatives, and obscura. And it bears mention that most of these items are from the “tangibles heavy” contrarian perspective of SurvivalBlog’s Founder and Senior Editor, JWR. Today, we further examine the Western World Real Estate Decline.
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Precious Metals:
We’ll start off with this at Zero Hedge: “It Belongs To The People, Not The Bankers” – Italy Moves To Seize Gold From Central Bank
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Gold Cycle And Stock Market Update
Western World Real Estate Decline:
In response to rising interest rates, the housing boom in the U.S. may be ending. Here is an early indicator: Seller’s Market in Housing Industry Shifts to Buyer’s Market. A pertinent passage:
“The National Association of Realtors says existing home sales in January dropped to their lowest level in three years, continuing months of weakness in the housing market.
Existing home sales were down 1.2% to an adjusted annual rate of 4.94 million units last month. That’s below analyst expectations and an 8.5% drop from a year ago. Only the Northeast saw a rise in sales activity.
Home prices are still showing increases, but they’re nowhere close to what they were in recent years. The median price of an existing house climbed 2.8% in January to $247,500. That’s the smallest increase since February 2012.
Prices have increased for 83 consecutive months, but some experts warn that trend could be about to end.
The number of homes on the market is starting to rise, too, meaning buyers have a wider selection to choose from. In January, there were 1.59 million previously owned homes on the market, compared to 1.53 million in December. The average home stayed on the market 49 days, a week longer than January 2018.”
Similar trends seem to be developing throughout the English-speaking world, to wit:
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Spring housing market could be ‘coolest in recent years,’ Realtor.com says
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Update on the Spreading Housing Bust in Australia, and Why it’s Happening
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Update on the Deepening Housing Bust in Vancouver, Canada
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And in England: House prices fall 1.6pc – but is the figure reliable?