Posts Categorized: Market Insights

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And The Stock Market Says…

…Happy Days Are Here Again. Well, that might be a bit of an overstatement but not by much. In reaction to the Fannie and Freddie takeovers bank stocks were up today and so were homebuilders. In fact, Toll Brothers (luxury homebuilder) was up 9.4%, reaching its highest level in more than a year. The reason… Read more

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Government Props Up Housing Market

The US Treasury just announced a plan to place Fannie Mae and Freddie Mac into conservatorship – whatever that means. As explained in the Wall Street Journal the plan “provides as much as $200 billion of new capital plus new credit lines for the country’s main suppliers of funds for home loans … and puts… Read more

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Real Estate Really Is Local

The Realtor associations have been harping on the message that real estate is local. This is their way to diffuse all the panic about home prices dropping by getting people to ignore the national pricing data. Of course, people will ultimately look at their local data and for most of the nation the answer won’t… Read more

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Chicago Condo Glut Just Getting Worse

This week’s Crain’s ran a story on the continuing demise of the downtown condo market. According to data from Appraisal Research Counselors sales of new downtown homes (i.e. condos) sank “73% to a record-low 685 units during the first six months of this year” compared with the first half of 2007. Here is the data:… Read more

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Employment Decline Can’t Be Good For Real Estate

Recently the Bureau of Labor Statistics released their June numbers. For the first time in a while employment levels in the Chicago metro area actually declined year over year – not by a huge amount but by 12,500. The unemployment rate surged to 7.1% from 6.3% the previous month but this was more a result… Read more