TMLS market update for April, 2017

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National new home market summary

cnbc

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National new home sales for April, 2017

The U.S. Census Bureau announced today that sales of new single-family houses in April 2017 were 569,000 at a seasonally adjusted annual rate, down 11.4 percent from March’s revised rate, but up 0.5 percent from April 2016.

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The home transaction of the future?

zillow

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National debt metrics for 1Q/17

Debt Dollars

In 17Q1, household debt rose by $149 billion and now totals $12.73 trillion, surpassing the previous peak of $12.68 trillion set in 08Q3, 8.5 years ago. Mortgage debt currently equals $8.63 trillion or 68% of all household debt. In 08Q3, mortgages totaled $9.99 trillion or 78% of all debt. Today, student loans total $1.34 trillion, 11% of all debt, back then they were $610 billion or 5% of debt.

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Elliot F. Eisenberg, Ph.D.
GraphsandLaughs, LLC
elliot@graphsandlaughs.net
Cell: 202.306.2731
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National residential building permits and starts for April, 2017

The U.S. Census Bureau released new data today on building permits in April 2017 showing a seasonally adjusted annual rate (SAAR) of 1,229,000, down 2.5percent from the revised March rate, but up 5.7 percent from April 2016.
Housing starts in April 2017 were at a SAAR of 1,172,000, down 2.6 percent from March 2016, but up 0.7 percent from April 2016.

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Drill baby, drill??

Crude Collapse

Despite a sizeable cutback in oil production by OPEC and several non-OPEC nations and a subsequent rise in price, oil prices are testing 5-month lows. The initial rise in price caused US fracking activity to increase, negating the OPEC cutback. Moreover, total US gasoline demand is noticeably shrinking. As a result, US crude inventories keep growing and are at 550 million barrels, an 80-year high! OPEC members are having nightmares.

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Elliot F. Eisenberg, Ph.D.
GraphsandLaughs, LLC
elliot@graphsandlaughs.net
Cell: 202.306.2731
http://www.econ70.com

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