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Census: A Changing Nation: Population Projections Under Alternative Immigration Scenarios

Note: Housing economist Tom Lawler was been way ahead on this, see for example: Lawler: Updated “Demographic” Outlook Using Recent Population Estimates by Age, Lawler: “Off-Calendar” Census Population Projection Update Coming; To Include Alternative Migration Scenarios, Lawler: US Population Growth Slowed Again in 2019. From the Census Bureau: A Changing Nation: Population Projections Under Alternative […]

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Sacramento Housing in January: Sales Up 5.6% YoY, Active Inventory down 32.7% YoY

From SacRealtor.org: January 2020 Statistics – Sacramento Housing Market – Single Family Homes January ended with 944 sales, down 24.1% from December. Compared to one year ago (894), the current figure is up 5.6%. …The Active Listing Inventory increased 7.1% from December to January, from 1,315 units to 1,409 units. Compared with January 2019 (2,095), […]

Stock

Q1 GDP Forecasts: 0.7% to 2.4%

From Merrill Lynch: The data cut our 4Q 2019 GDP tracking estimate by 0.1pp to 2.0% and our 1Q 2020 estimate by 0.3pp to 0.7% qoq saar. [Feb 14 estimate]emphasis added From the NY Fed Nowcasting Report The New York Fed Staff Nowcast stands at 1.4% for 2020:Q1. News from this week’s data decreased the […]

Stock

Industrial Production Decreased in January

From the Fed: Industrial Production and Capacity Utilization Industrial production declined 0.3 percent in January, as unseasonably warm weather held down the output of utilities and as a major manufacturer significantly slowed production of civilian aircraft. The index for manufacturing edged down 0.1 percent in January; excluding the production of aircraft and parts, factory output […]

Real Estate

Homebuyers Flock to Four Cities for Affordable Land and Growing Salaries

Spokane, Las Vegas, Charlotte and Orlando will be the hottest metros among affordability-seeking homebuyers in the coming decade As expensive coastal metros struggle to find solutions to rising housing costs, homebuyers have begun looking to smaller more affordable metros where land is cheap and incomes are growing. Already, Spokane, Las Vegas, Charlotte and Orlando are […]

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Retail Sales increased 0.3% in January

On a monthly basis, retail sales increased 0.3 percent from December to January (seasonally adjusted), and sales were up 4.4 percent from January 2019. From the Census Bureau report: Advance estimates of U.S. retail and food services sales for January 2020, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, […]

Tax

Tax expenditures cost the UK £155 billion a year – and in many cases no one knows what benefit we get

I think it worth sharing the following press release from the National Audit Office, issued this morning: Today the National Audit Office (NAO) publishes a report on tax expenditures. Tax expenditures are tax reliefs with social or economic objectives. Government uses tax expenditures to encourage a range of activities, such as saving for pensions, to […]

Tax

On sustainable cost accounting

There has been the most remarkable fightback on sustainable cost accounting (SCA) on this blog this week. Four things characterise that fight back. First, almost every single commentator engaged in the activity has never apparently been here before. Second, despite that almost every one of them seems remarkably familiar with right-wing tropes about me (I […]

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Friday: Retail Sales, Industrial Production

Friday:• At 8:30 AM ET, Retail sales for January is scheduled to be released.  The consensus is for a 0.3% increase in retail sales. • At 9:15 AM, The Fed will release Industrial Production and Capacity Utilization for January. The consensus is for a 0.2% decrease in Industrial Production, and for Capacity Utilization to decrease […]