The last Census Bureau Survey of New Home Sales showed a lower increase than most expected (417,000, or 1.5% above the previous month). Part of the reason for the lower growth rate was an upward revision to February (to 411,000), but both months are far below the January pace (445,000). These are all adjusted numbers, so seasonality should not be [...]
Government spending and inventory builds were good in Q3, according to economists, when they pushed GDP accounting above expectations. Those same two economic accounts dramatically reduced economic activity in Q4, so economists are now intimating that the resulting contraction is something other than real. On the part of government spending, it probably should be ignored and certainly GDP is a [...]
"More than 17 percent of all FHA loans were delinquent in September, according to data on the agency’s website." I believe that number was 9% last quarter. Of course not all delinquencies turn into bad loans, or full-on NPL's, but both the trend and absolute level should be alarming. The major problem, however, seems to be the mortgage guarantee business [...]
I’m traveling today (and a little under the weather to boot) so this will be a fairly short update. I’ve spent the last week visiting clients and potential clients in Augusta, GA and Asheville, NC and before I get started, I’d just like to thank our representatives Larry Hogue and Bob Williams in Augusta and Asheville respectively for their true [...]
Joseph A. Gomez, Sr. Investment Advisor Will 2012 be a repeat of "Sell in May and Go Away"? Collectively, strategists are expecting the S&P 500 to finish 2012 at 1,350, which would be a gain of over 7%. HSBC has a year-end 2012 price target of 1,190 (down 5+%). Goldman Sachs is expecting the S&P 500 to finish the year at [...]
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