Real Estate

How to Be Alone

Howdy Redfin Headquarters Folks, To kick off our first full week of headquarters working mostly remotely, we’re publishing guidelines on how to do that. Some of this may overlap with departmental guidance you’ve already gotten. Much of it is based on what we’ve learned in consultation with companies that have run for years this way: […]

Stock

Black Knight Mortgage Monitor for January; “Cash-out lending hit a more than 10-year high at the end of 2019”

Black Knight released their Mortgage Monitor report for January last week. According to Black Knight, 3.22% of mortgages were delinquent in January, down from 3.75% in January 2019. Black Knight also reported that 0.46% of mortgages were in the foreclosure process, down from 0.51% a year ago. This gives a total of 3.73% delinquent or […]

Tax

What’s different about this crash from 2008?

I spoke to an old friend this afternoon, and we discussed the onset of what we both see as a global recession from which we think the world economy might emerge in a very different, and quite probably better, place. But we also discussed what was different this time when compared to 2008. My friend […]

Stock

Going on Recession Watch

I’m not forecasting a recession, just moving to Recession Watch for the first time since 2006.  Note: In early 2007, I moved from Recession Watch to forecasting a recession that started in December 2007. As I noted in Predicting the Next Recession, the usual leading indicators are not useful if there is “a pandemic, significant […]

Stock

Weather Adjusted Employment Gains in February

The weather boosted employment gains in again in February. The question is: how much? The BLS reported 190 thousand people were employed in non-agriculture industries, with a job, but not at work due to bad weather. The average for February over the previous 10 years was 380 thousand. The median was 294 thousand. The BLS […]

Budgeting

How to Spring Clean Up Your Finances

Are you ready for a spring clean up? With springtime in full effect, you’re likely itching to dust and declutter your living space for a fresh start to the season. In addition to organizing and cleaning out your home, you should also apply this energy to your finances. Spring is a great opportunity to review… […]

Real Estate

New Homes Coming to the Housing Market This Year

The number of building permits issued for single-family homes is the best indicator of how many newly built homes will begin to come to market over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Construction Report, the number of building permits issued in January was 1,551,000. This is a […]