Category Archives: General Economic

Economic News and Commentary on Macro Level

Home Price Index Rises Slightly in Miami

The month of May 2011 saw a slight uptick in the seasonally adjusted Case Shiller home price index from April. The index went up from 139.47 to 140.1, however that is down from 147.88 in May last year. The index … Continue reading

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Miami Home Prices Stay Soft

According to the recent data released for the S&P Case Shiller Home Price Indices for the month of December 2011, Miami home prices fell slightly in comparison to the previous month and the previous year. In comparison to the previous … Continue reading

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Miami Home Sales Continue Improvement

According to the Miami Association of Realtors and data collected from the Southeast Florida Multiple Listing Service, sales of existing homes in Miami rose by 18% in December compared to the same period in 2009. This is also approximately 70% … Continue reading

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Home Resales Rise to 7-Month High

In the United States, the sales of previously owned homes in December rose much more than forecast. They increased by 12%. It seems that after a rough patch in sales due to the expiration of the home tax credit, the … Continue reading

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Moody’s Analyst Expects “Significant” Rebound in Miami Economy

Chris Lafakis, an economist at Moody’s Analytics, predicts that there will be substantial growth in the Florida economy and specifically Miami due to a rebound in population growth as well as increased vacations and travel to desirable Florida cities. He … Continue reading

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Home Builder Confidence Rises

A few weeks ago Lennar Corp, a Miami based home builder and one of the nation’s largest, decided to take a big gamble and purchase a portfolio of over $740,000,000 of distressed real estate assets in show of confidence that … Continue reading

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Foreclosure Freeze will Impact Miami

The most important news in October and perhaps of 2010 relating to the foreclosure market has been the recent freeze of the foreclosure proceedings by major US banks and mortgage servicers due to apparent legal missteps to put it mildly. … Continue reading

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Miami September Pending Home Sales Continue Improvement

According the the Miami Association of Realtors and the Southeast Florida Multiple Listing Service, pending home sales in Miami-Dade County increased 28.6% in September 2010 compared to Sept 2009. This is in a brighter contrast to the national pending home … Continue reading

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Homestead Property Owners May Pay More Taxes

Miami-Dade County commissioners voted yesterday to raise the property tax rate in a way that would affect more than 60% of homestead property owners even though their properties are worth less. There will be another hearing before the budget is … Continue reading

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How will Cuban Liberalization affect Miami Real Estate?

Based on a recent interview with Fidel Castro, Cuba may be opening up sooner than people think might be possible. I have already highlighted this trend in a past commentary based on actions we have been seeing primarily from the … Continue reading

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Karl Case: Housing Market Begining to Stabilize

As reported by Bloomberg, in a recent news interview with Tom Keene, Karl Case, of the S&P Case-Shiller index, is seeing “a lot of positive stuff” in the latest housing statistics. He says that although we may see a “little” … Continue reading

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Florida Home Sales Beats the Average

As the national headlines are broadcasting the dismal July home sales report which was 25% lower than July 2009, Florida came out a better with only a 14% decrease in sales in comparison to the same period last year according … Continue reading

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National Homes Sales Volume Weaker after Loss of Tax Credit

NAR released the the monthly sales figures for previously owned homes which showed a very significant drop of 27% from the prior month June and a 25% drop from July 2009. We are still feeling the after effects from the … Continue reading

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Miami Dade Unemployment Woes

The latest news on unemployment are a reminder of how bad things have gotten in this economy and how hard Miami has been hit. The July tally stands at 12.3% which is up slightly from June figure of 12.2% and … Continue reading

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Warren Buffett Move is Positive for Miami Real Estate

As reported by Bloomberg, the Oracle of Omaha has significantly reduced the duration of his company’s long term bond holdings. What does that mean? It means that he is increasingly concerned about inflation rising in the future due very high … Continue reading

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Real Estate: End of the Abyss

Finally, after several years of denial, real estate stakeholders in the many hard-hit areas have finally come to the breaking point. Distressed sales continue to be the driving force in regions such as South Florida, California, Arizona, Nevada. Sellers of … Continue reading

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2009 and Beyond

The economic climate of 2009 will be very tough, especially for the average consumer. The U.S. and European consumers are officially tapped out. Retailers are barely clinging to life, fighting each other to be the last one standing. While 2008 … Continue reading

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2007 & 2008 Predictions Recap

It has been about one and a half years since I posted my first commentary and since then I have added many new people to the email list. I am proud of my public predictions up until this point. Risking … Continue reading

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Is this the Market’s Capitulation?

It is certainly feels like the panic selling typical of capitulation at this point, at least for the financial industry. However, I foresee more pain in the horizon. When you have financial institutions using so much leverage to support depreciating … Continue reading

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$135 Oil: Who is the Culprit?

With oil seemingly headed straight for Goldman Sachs? $150 new price target, there is lively debate going on right now whether or not commodities as a whole are in a speculative bubble. We may very well be at the beginning … Continue reading

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The Commodities Bull Continues its Charge

?Inflation is back!? that?s what the headlines are starting to say and what I have been predicting for some time. Why is it back? The all mighty U.S. economy is slowing and the E.U. is also so how could we … Continue reading

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Power of Denial in the Housing Market

What is going on with the real estate market in the U.S.? How bad will it get? When is it time to jump back in? Should sellers wait it out? These are questions frequently posed to me. My answers often … Continue reading

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