patrick.net

As frequently talked about here: a farmer doing subsistence farming "earned" nothing and was counted as poor, but a semi-slave in a shoe factory wearing diapers because no bathroom break earning $2/day isn't.
That's the exact opposite of reality.

73

Heraclitusstudent 2016 May 24, 3:51pm

Poor America...

The standard of living after paying for housing, healthcare and education collapsed dramatically.
An other fine example of lying with charts.

74

_ 2016 May 24, 3:52pm

The standard of living after paying for housing, healthcare and education collapsed dramatically.

An other fine example of lying with charts.

If that was case you have a mass exodus of Americans

75

Heraclitusstudent 2016 May 24, 3:56pm

If that was case you have a mass exodus of Americans

I didn't say things are better elsewhere. Globalization, you know.
The only refuge is to be rich.

76

tatupu70 2016 May 24, 4:01pm

The standard of living after paying for housing, healthcare and education collapsed dramatically.

An other fine example of lying with charts.

And child care. The only reason the 100+ line is going up is because women got jobs instead of taking care of the family.

77

Y 2016 May 24, 4:03pm

I was hoping for the pothead picture...

I think your glasses have a certain "tint" to them:

-

-

(hint: Rose)

78

_ 2016 May 24, 4:08pm

Awww How cute all the liberals who cry about American joining forces

This is exactly what I want... I hope your Gold Bugs Right extreme friends who cry about America eveyrday join you and your Zero hedge friends because all of you can't read data at all

Soft is Soft for a reason... Real Americans don't cry every day... thankfully there is more of us than you!

79

_ 2016 May 24, 4:11pm

You're all going to lose at the end ... wrong country to bet against.... bad bad bet

80

_ 2016 May 24, 4:34pm

Move OUT of CA..

Net migration data ages 30-39 has be shown an outflow from CA due to housing cost.

Why is this, because people work hard and they have the ability to move to cheaper states such as Arizona and Atlanta for example.

You might not have faith in our kids, but those who work hard, finish high school, go and finish college, or have a trade show skill

Give them some credit for being productive people, they don't have the structural issues that non educated Americans have or those with a drug problem

Have some faith in your fellow Americans, and only focus on helping the poor and those who have substance abuse, they need it more than anyone :-)

81

Heraclitusstudent 2016 May 24, 5:14pm

Heraclitusstudent says

You have millions of millenials in CA that would absolutely buy a house for $300K.

Move OUT of CA.. They're are TONS of houses less than $300K that you can buy in many areas of the country..

The problem with you Millennial whiners, you want your cake and you want to eat it too.

You don't anything about me: neither my age, nor my net worth, nor where I live. It's not about me. So STFU.
You're the one whining btw. I was just describing facts about the market in CA.

You might not have faith in our kids, but those who work hard, finish high school, go and finish college, or have a trade show skill

This is a straw man. This is not a question of faith in this person or that one. It's the aggregate that doesn't add up. There is a generation gap between what millenials can pay, and what boomers think they will get. The housing permanent equity elevator is dead. History will unmask the "wealth effect" as a giant centrally organized deception. The basic mechanisms that maintained the increasingly tattered veil of glittery wealth in the west are falling apart.

Which is why you can show 20 charts showing how good things are, if this is all sitting on one artificial leg and this leg breaks, then these charts mean absolutely nothing.

82 MMR 2016 May 24, 5:15pm

Atlanta for example.

Anecdotally, shitload of Californians in Atlanta over last 3 years. Having said that, most of the starter level(town houses) new construction inside I-285 is now starting around 500K, which is roughly around $227/sqft. Even my area is around 165/sqft and I bought less than 3 years ago at 89/sf

83

_ 2016 May 24, 5:26pm

This is a straw man.

Everything is straw man argument when you point out that the extreme left is 100% wrong about how bad things are in America

Guys it's over

The days of you lying on this site about America is coming to an end

You had your chance of some titanic Recession that was going to bring down Capitalism in a soft demographic patch cycle

It didn't happen, none of the new normal secular stagnation thesis happened even in a light demographic patch cycle 2008-2019

Adjust your language or be prepared to deal with me and my charts for the next 20 years ...

It's not going to get any easier for you guys post recession

84

_ 2016 May 24, 5:28pm

Best part is

Your beloved Europe had had a terrible economy since 2011 and not even their weakness dented us

You think we went from a 2 trillion dollar economy to a 19 Trillion Dollar with 1/3rd the population of China and this was luck

No way!

85

Heraclitusstudent 2016 May 24, 6:00pm

Incidentally I don't believe the economy will collapse tomorrow, or that a depression must necessarily happen. You may well be partly right. If anything a building boom would be very good in terms of real economy. Asset prices are an other question though. There is a difference between real economy and asset prices.
The problem is that you think you know, when in fact there are way too many factors to consider, and just a few factors can throw your nice prediction in the garbage bean. Your confidence is misplaced. The future will be very different from what we imagine. For one thing, banking and mortgage lending will probably be fully automated soon. Get on with the program.

Your beloved Europe had had a terrible economy since 2011 and not even their weakness dented us

Europe is doing efforts to reform itself and this is always painful. We have every reason to think Europe will emerge stronger from this.

86

Heraclitusstudent 2016 May 24, 6:01pm

It gets really tiresome reading your daily crying sessions...

See: more whining.
Grow a pair of balls and put me on ignore.

Loser.

87

_ 2016 May 24, 6:06pm

Incidentally I don't believe the economy will collapse tomorrow, or that a depression must necessarily happen

Thank The Heavens.. See that's all I wanted to hear, everything else is fair game to talk about, we have to many end of the world types in the world

Europe is doing efforts to reform itself and this is always painful. We have every reason to think Europe will emerge stronger from this.

Europe is old, it's demographic problem is in it's infancy, but Ireland and England will Fair well out of the group

88

Heraclitusstudent 2016 May 24, 6:14pm

Europe is old, it's demographic problem is in it's infancy, but Ireland and England will Fair well out of the group

Well, we are talking of AI in an other thread. The future is to disconnect economic growth from demographics, and AI is the path. We must do that anyway as a matter of survival. People who think the world economy can continue to grow 3% a year forever are lunatics.

So Europe may well end up better off than many think, economically at least.

89

Heraclitusstudent 2016 May 24, 6:16pm

It gets really tiresome reading your daily crying sessions...

lose the daily entertainment of your crying sessions and delusional posts... not a chance..

Get your story straight. Moron.

90

_ 2016 May 24, 6:18pm

People who think the world economy can continue to grow 3%

The younger countries are in the east, India has a lot potential, but this century is going to be about how do countries handle their aging population and who has the younger work force to back their economies up

91

Strategist 2016 May 24, 6:24pm

The younger countries are in the east, India has a lot potential, but this century is going to be about how do countries handle their aging population and who has the younger work force to back their economies up

hmmmmmm. That would indicate Africa will be best situated for growth. I would bet on Asian countries.

92

_ 2016 May 24, 6:27pm

Strategist says

That would indicate Africa will be best situated for growth.

We have saying about that

TIA

This
Is
Africa

Which means #(@#(@#@

93

Heraclitusstudent 2016 May 24, 6:29pm

The younger countries are in the east, India has a lot potential

Really? I think this century we will find that high/dense population is more of an impediment than anything else. There are always resources that are limited. For example they have collapsing water tables and global warming will not help. They just can't expect to live like Americans are doing.
You just put too much faith in demographics. This is a problem of 2015, not 2025.

94

_ 2016 May 24, 6:45pm

You just put too much faith in demographics.

Imagine if India executes it's massive young population, a lot potential there, this chart stuns people when I show them this

95

indigenous 2016 May 24, 7:13pm

India cooks the books.

That chart says that India has been out performing China for 7 years. There is no evidence of that on the ground.

Are you trying to back up your narrative?

96

Strategist 2016 May 24, 7:22pm

indigenous says

India cooks the books.

That chart says that India has been out performing China for 7 years. There is no evidence of that on the ground.

Are you trying to back up your narrative?

Chinese stocks were hit bad recently. Looks reasonable.

97

MisdemeanorRebel 2016 May 24, 7:40pm

Lots of violence on the way whenever you have disproportionate numbers of young people. That also happened here (crime rate began to skyrocket in the mid 60s and didn't begin to fall until the early 90s when the youngest boomer turned 30).

98

Tenpoundbass 2016 May 24, 8:24pm

99 anonymous 2016 May 24, 8:38pm

https://loganmohtashami.com/2016/09/26/2016-new-home-sales-best-of-the-cycle/

maybe new home sales nirvana is on its way this year? lol. everything seems stronger this year though. people want them houses.

100

_ 2016 May 24, 9:42pm

landtof says

stronger this year though

The best thing about the report was the revisions, all positive, headline too strong, like most M/M reports you get a wild headline swings and revisions in the next report.

But, the last 3 months

+
+
+

The one negative was that is was mostly on the high end, that has limits, hence why the median price took off, it was dismal report on the lower end.

All and All.. a solid report but do expect some pull back from today's headline

101

_ 2016 May 25, 6:11am

As always with housing in this cycle, it was dealing with the over hype on the sales estimates, this is why we had that big correction last year but it didn't mean housing was falling apart, it's just Wall Street has but some real out of context sales estimates that haven't been met in 2013, 2014, and 2015, things have calm down after that last correction, a bit more realistic numbers out there now

Slow and steady, this cycle wasn't going to be a booming housing cycle in terms of demand but that doesn't mean we can't see slow and steady growth

102

_ 2016 Sep 26, 2:38pm

April 23

Now Updated

2016 New Home Sales: Best Of The Cycle

103

Strategist 2016 Sep 26, 2:43pm

Hello Logan. Were you on strike?

104

_ 2016 Sep 26, 2:48pm

Strategist says

Hello Logan. Were you on strike?

No, I promised to never post a thread on this site.. But...will comment from time to time

Note..

April 23rd when I wrote the thread piece 2 negative YoY prints

Then we had some people call for the peak of new home sales in the cycle at roughly 500K

What happened after that ...

This did

2016.. forget the headline number for a second

The internals look good!

which I explain here

https://loganmohtashami.com/2016/09/26/2016-new-home-sales-best-of-the-cycle/

Question for 2017 now...

Can total starts break over 1,200,0000

We have talked about this before

all the 50 year average in starts people to 1,500,000 have whiffed big time because of a lack of a demographic background

Explained here

"Housing Starts Roof Being Tested"

https://loganmohtashami.com/2016/09/20/housing-starts-roof-being-tested/

The most important data line for new home sales is that median price is falling this is the single most demand bullish data line of the cycle right now, make shift in sales prices leads to higher volume, the * in all my predictions article

105

Strategist 2016 Sep 26, 2:53pm

http://www.americatalyst.com/content/2016-americatalyst-fast-forward

Strategist says

Hello Logan. Were you on strike?

No, I promised to never post a thread on this site.. But...will comment from time to time

Why? Did Ironman threaten to beat you up?

106

_ 2016 Sep 26, 2:59pm

Strategist says

Why? Did Ironman threaten to beat you up?

This site isn't suited for Data Miners, plus I am really getting stretched on time these days. Looking at the crazy thread headlines, lord have mercy, all the Anti American cry babies left and right .... ;-)

But maybe If I can get a good enough presentation material from the conference in a month.. I know you guys here all care about home prices.

Well, that's the group they have me in.

I will be speaking at 2016 Americatalyst: Fast Forward,October 30 â€“ November 1st in Austin, Texas.

My panel will be called WITHERING HEIGHTS: House and Rent Price Projections and will include these speakers.

HOSTED BY

TONI MOSS, CEO, AMERICATALYST LLC and EUROCATALYST BV

TIM SKEET, Senior Advisor, INTERNATIONAL CAPITAL MARKETS ASSOCIATION | ICMA

FEATURING

DOUG BENDT, SVP of Research and Product Development, RENTRANGE

MARK FLEMING, SVP and Chief Economist, FIRST AMERICAN FINANCIAL CORPORATION

LOGAN MOHTASHAMI, Senior Loan Manager, AMC LENDING GROUP

ALLAN WEISS, Founder and Chief Executive Officer, WEISS RESIDENTIAL RESEARCH

107

BayArea 2016 Sep 26, 3:27pm