A strong July Existing Home Sales report from the National Association of Realtors is propelling the market this morning. Existing home sales rose to a 5.24 million annualized rate from 4.99 million in July 2008 – the first year over year increase since 2005. This is another piece of evidence supporting a bottom in the low end of the housing market.
The report was released at 10am EST…..
The Wall Street Journal today published an editorial, “The House the Fed Built” (subscription required), echoing the interpretation of recent Fed history I posted a couple weeks ago: This is the housing market the Federal Reserve built. That is to say,…
After the bell on Wednesday women’s retailer Chico’s FAS (NYSE: CHS) warned that August same store sales are showing a decline of about 3% and that it sees dismal same store sales for its third quarter, according to the Wall…
A couple weeks ago DataQuick, the excellent real estate information firm providing data primarily for the California market, came out with its July 2006 numbers. The Sacramento Bee ran a sobering article based on the report: July … saw the biggest drop…
A few weeks after each Fed meeting, the minutes for that meeting are released. The minutes are not an actual transcript of what was said but a shamelessly doctored summary. As I tried to explain a couple weeks ago the…
Before the open today Best Buy (NYSE: BBY), the nation’s largest electronics retailer, announced a pretty good fiscal (ended Aug 26, 2006) second quarter. Same store sales in the United States were up 3.0% in the three months ended Aug…
On Tuesday I wrote: The Street interpreted Best Buy’s results as saying that the American consumer is not dead and will continue to spend on discretionary items. That interpretation seems to have played out this week. The S&P Retail Index…