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The Wall Street Greek blog is the sexy & syndicated financial securities markets publication of former Senior Equity Analyst Markos N. Kaminis. Our stock market blog reaches reputable publishers & private networks and is an unbiased, independent Wall Street research resource on the economy, stocks, gold & currency, energy & oil, real estate and more. Wall Street & Greece should be as honest, dependable and passionate as The Greek.



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Seeking Alpha

Friday, May 20, 2016

Seeing Green Shoots in this Homebuilder Measure

green light
Homebuilder sentiment was measured this week, and it showed that while builders are generally feeling positive about their sector, they are not as giddy as they were a few months back. So what does the Housing Market Index say for real estate? See the whole story at Latest Homebuilder Measure Offers Reason to Believe.

Housing Relative Shares
05-17 to 05-19 Close
SPDR S&P Homebuilders (NYSE: XHB)
-0.5%
PulteGroup (NYSE: PHM)
-2.1%
D.R. Horton (NYSE: DHI)
-0.7%
K.B. Homes (NYSE: KBH)
-0.8%
Toll Brothers (NYSE: TOL)
-0.4%
Hovnanian (NYSE: HOV)
+0.6%
Lennar (NYSE: LEN)
-0.8%

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only. Editor's Note: Article should interest investors in Investors Title (Nasdaq: ITIC), Freddie Mac (OTC: FMCC.OB), Fannie Mae (OTC: FNMA.OB), UltraShort Real Estate ProShares (NYSE: SRS), Ultra Real Estate ProShares (NYSE: URE), ING Clarion Global Real Estate Income Fund (NYSE: IGR), Xinyuan Real Estate Co. (NYSE: XIN), Rydex Real Estate Fund H (Nasdaq: RYHRX), T. Rowe Price Real Estate Fund (Nasdaq: TRREX), Toll Brothers (NYSE: TOL), Hovnanian (NYSE: HOV), D.R. Horton (NYSE: DHI), Beazer Homes (NYSE: BZH), Lennar (NYSE: LEN), K.B. Homes (NYSE: KBH), Pulte Homes (NYSE: PHM), NVR Inc. (NYSE: NVR), Gafisa SA (NYSE: GFA), MDC Holdings (NYSE: MDC), Ryland Group (NYSE: RYL), Meritage Homes (NYSE: MTH), Brookfield Homes (NYSE: BHS), Standard Pacific (NYSE: SPF), M/I Homes (NYSE: MHO), Orleans Homebuilders (AMEX: OHB), Vanguard REIT Index ETF (NYSE: VNQ), PNC Bank (NYSE: PNC), J.P. Morgan Chase (NYSE: JPM), Hooker Furniture (Nasdaq: HOFT), Ethan Allen (NYSE: ETH), Pier 1 Imports (NYSE: PIR), Williams Sonoma (NYSE: WSM), Home Depot (NYSE: HD), Lowes (NYSE: LOW), Nasdaq: XNFZX, Nasdaq: FSAZX, Avatar Holdings (Nasdaq: AVTR), Apartment Investment & Management (NYSE: AIV), Equity Residential (NYSE: EQR), Avalonbay Communities (NYSE: AVB), UDR Inc. (NYSE: UDR), Essex Property Trust (NYSE: ESS), Camden Property Trust (NYSE: CPT), Senior Housing Properties (NYSE: SNH), BRE Properties (NYSE: BRE), Home Properties (NYSE: HME), Mid-America Apartment (NYSE: MAA), Equity Lifestyle Properties (NYSE: ELS), American Campus Communities (NYSE: ACC), Colonial Properties (NYSE: CLP), American Capital Agency (Nasdaq: AGNC), Sun Communities (NYSE: SUI), Associated Estates (NYSE: AEC), PennyMac Mortgage (NYSE: PMT), Two Harbors (AMEX: TWO), Simon Property Group (NYSE: SPG).

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Tuesday, April 26, 2016

The State of Housing in America

housing in America
When February’s Existing Home Sales were reported last month, I proposed that the very disappointing result was likely anomalous. Given various bits of evidence and my experience and familiarity with the phenomenon, I thought the significant stock market turbulence and decline to start the year caused a negative feedback loop that stalled consumer spending in February, especially for major purchases like homes. Well, March’s Existing Home Sales data was reported last week, and it produced a much improved result. Given the level of fear that pervaded through financial markets this past winter, I believe it is probable that the stock market’s strong recovery this spring is serving to reinvigorate consumer spending now. Most importantly, for the whole of 2016, we expect housing to continue to expand and sales to continue to increase for a multitude of reasons. See the whole story at The True State of Housing in America.

Sample of Housing Relative Shares
SPDR S&P Homebuilders (NYSE: XHB)
iShares US Real Estate (NYSE: IYR)
D.R. Horton (NYSE: DHI)
K.B. Home (NYSE: KBH)
J.P. Morgan Chase (NYSE: JPM)
Wells Fargo (NYSE: WFC)
MGIC Investment (NYSE: MTG)
Radian Group (NYSE: RDN)
Investors Title (Nasdaq: ITIC)
Home Depot (NYSE: HD)
iShares Mortgage Real Estate (NYSE: REM)
Invesco Mortgage Capital (NYSE: IVR)
New Residential Investment (NYSE: NRZ)

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only. This article should interest investors in residential REITs like American Campus Communities (NYSE: ACC), American Capital Agency (Nasdaq: AGNC), Annaly Capital (NYSE: NLY), Apartment Investment and Management (NYSE: AIV), Apollo Residential Mortgage (Nasdaq: AMTG), ARMOUR Residential REIT (NYSE: ARR), Associated Estates Realty (NYSE: AEC), AvalonBay Communities (NYSE: AVB), BRE Properties (NYSE: BRE), Camden Property Trust (NYSE: CPT), Campus Crest Communities (NYSE: CCG), Colonial Properties Trust (NYSE: CLP), CYS Investments (NYSE: CYS), Education Realty Trust (NYSE: EDR), Equity LifeStyle Properties (NYSE: ELS), Equity Residential (NYSE: EQR), Essex Property Trust (NYSE: ESS), Hatteras Financial (NYSE: HTS), Home Properties (NYSE: HME), Maxus Realty Trust (OTC: MRTI.PK), Mid-America Apartment Communities (NYSE: MAA), New York Mortgage Trust (Nasdaq: NYMT), PennyMac Mortgage Investment Trust (NYSE: PMT), Post Properties (NYSE: PPS), Senior Housing Properties Trust (NYSE: SNH), Sun Communities (NYSE: SUI), Two Harbors Investment (NYSE: TWO) and UDR (NYSE: UDR).

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Friday, April 01, 2016

Real Estate - Fresh Data Dispels Housing Concern

summer
A sharp decrease in existing home sales for February recently raised concern about the state of the real estate market. I believe the cause of the decrease was anomalous in nature, and data reported on Wednesday seems to confirm my view. I believe this fresh data along with a report from earlier in the week should dispel concern about housing. See more of this report here: Fresh Data Dispels Concern About Housing.

Housing Relative Shares
03-31-16 Approx. Noon
SPDR S&P 500 (NYSE: SPY)
+0.2%
SPDR S&P Homebuilders (NYSE: XHB)
+0.7%
iShares US Real Estate (NYSE: IYR)
+0.5%
D.R. Horton (NYSE: DHI)
+0.2%
K.B. Home (NYSE: KBH)
+2.6%
J.P. Morgan Chase (NYSE: JPM)
-0.1%
Wells Fargo (NYSE: WFC)
+0.1%
MGIC Investment (NYSE: MTG)
+0.5%
Radian Group (NYSE: RDN)
+0.2%
Investors Title (Nasdaq: ITIC)
+0.0%
Home Depot (NYSE: HD)
+0.5%
iShares Mortgage Real Estate (NYSE: REM)
+0.7%
Invesco Mortgage Capital (NYSE: IVR)
+1.6%
New Residential Investment (NYSE: NRZ)
+1.1%

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only. This article should interest investors in residential REITs like American Campus Communities (NYSE: ACC), American Capital Agency (Nasdaq: AGNC), Annaly Capital (NYSE: NLY), Apartment Investment and Management (NYSE: AIV), Apollo Residential Mortgage (Nasdaq: AMTG), ARMOUR Residential REIT (NYSE: ARR), Associated Estates Realty (NYSE: AEC), AvalonBay Communities (NYSE: AVB), BRE Properties (NYSE: BRE), Camden Property Trust (NYSE: CPT), Campus Crest Communities (NYSE: CCG), Colonial Properties Trust (NYSE: CLP), CYS Investments (NYSE: CYS), Education Realty Trust (NYSE: EDR), Equity LifeStyle Properties (NYSE: ELS), Equity Residential (NYSE: EQR), Essex Property Trust (NYSE: ESS), Hatteras Financial (NYSE: HTS), Home Properties (NYSE: HME), Maxus Realty Trust (OTC: MRTI.PK), Mid-America Apartment Communities (NYSE: MAA), New York Mortgage Trust (Nasdaq: NYMT), PennyMac Mortgage Investment Trust (NYSE: PMT), Post Properties (NYSE: PPS), Senior Housing Properties Trust (NYSE: SNH), Sun Communities (NYSE: SUI), Two Harbors Investment (NYSE: TWO) and UDR (NYSE: UDR).

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Wednesday, March 30, 2016

Existing Home Sales Collapsed - The Reason Not to Worry

take it easy
Last week provided some eye-catching real estate data, namely a severe dip in existing home sales for February. The National Association of Realtors (NAR) reports the data and speculated that the meaningful decline might be due to the tight inventory situation. However, I see a temporary issue at play in February that has since corrected. I expect that signals that the pace of home sales will be restored in short time. Real estate investors can rest easy, as I see this year’s expansion for housing intact. See more on why you can rest easy about the decline in existing home sales.

Housing Relative Shares
Year-to-Date
SPDR S&P 500 (NYSE: SPY)
+0.2%
SPDR S&P Homebuilders (NYSE: XHB)
-3.2%
iShares US Real Estate (NYSE: IYR)
+1.2%
Pultegroup (NYSE: PHM)
+2.2%
Toll Brothers (NYSE: TOL)
-13.9%
Bank of America (NYSE: BAC)
-18.8%
Wells Fargo (NYSE: WFC)
-9.7%
MGIC Investment (NYSE: MTG)
-17.2%
Radian Group (NYSE: RDN)
-12.0%
Investors Title (Nasdaq: ITIC)
-8.6%
iShares Mortgage Real Estate (NYSE: REM)
-1.4%
Invesco Mortgage Capital (NYSE: IVR)
-2.1%
New Residential Investment (NYSE: NRZ)
-3.7%

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only. Editor's Note: Article should interest investors in Investors Title (Nasdaq: ITIC), Freddie Mac (OTC: FMCC.OB), Fannie Mae (OTC: FNMA.OB), UltraShort Real Estate ProShares (NYSE: SRS), Ultra Real Estate ProShares (NYSE: URE), ING Clarion Global Real Estate Income Fund (NYSE: IGR), Xinyuan Real Estate Co. (NYSE: XIN), Rydex Real Estate Fund H (Nasdaq: RYHRX), T. Rowe Price Real Estate Fund (Nasdaq: TRREX), Toll Brothers (NYSE: TOL), Hovnanian (NYSE: HOV), D.R. Horton (NYSE: DHI), Beazer Homes (NYSE: BZH), Lennar (NYSE: LEN), K.B. Homes (NYSE: KBH), Pulte Homes (NYSE: PHM), NVR Inc. (NYSE: NVR), Gafisa SA (NYSE: GFA), MDC Holdings (NYSE: MDC), Ryland Group (NYSE: RYL), Meritage Homes (NYSE: MTH), Brookfield Homes (NYSE: BHS), Standard Pacific (NYSE: SPF), M/I Homes (NYSE: MHO), Orleans Homebuilders (AMEX: OHB), Vanguard REIT Index ETF (NYSE: VNQ), PNC Bank (NYSE: PNC), J.P. Morgan Chase (NYSE: JPM), Hooker Furniture (Nasdaq: HOFT), Ethan Allen (NYSE: ETH), Pier 1 Imports (NYSE: PIR), Williams Sonoma (NYSE: WSM), Home Depot (NYSE: HD), Lowes (NYSE: LOW), Nasdaq: XNFZX, Nasdaq: FSAZX, Avatar Holdings (Nasdaq: AVTR), Apartment Investment & Management (NYSE: AIV), Equity Residential (NYSE: EQR), Avalonbay Communities (NYSE: AVB), UDR Inc. (NYSE: UDR), Essex Property Trust (NYSE: ESS), Camden Property Trust (NYSE: CPT), Senior Housing Properties (NYSE: SNH), BRE Properties (NYSE: BRE), Home Properties (NYSE: HME), Mid-America Apartment (NYSE: MAA), Equity Lifestyle Properties (NYSE: ELS), American Campus Communities (NYSE: ACC), Colonial Properties (NYSE: CLP), American Capital Agency (Nasdaq: AGNC), Sun Communities (NYSE: SUI), Associated Estates (NYSE: AEC), PennyMac Mortgage (NYSE: PMT), Two Harbors (AMEX: TWO), Simon Property Group (NYSE: SPG).

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Wednesday, February 10, 2016

A Rally for Real Estate - 25% Increase in Mortgage Applications for Home Purchases

cheers
The Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey is a data point I often expose for anomalous factors, usually seasonal in nature. So when I read about a big year-over-year increase in mortgage applications for home purchases in the latest report my suspicion was aroused. However, after perusing through a pile of data, I found nothing of the sort. The year-to-year growth in activity has been sustained over recent reporting periods. Therefore I can confidently report that it truly reflects health in housing. See the full report on the healthy housing signal in mortgage activity.

Housing Relative Shares
02-10-16 to 12:40 PM ET
SPDR S&P 500 (NYSE: SPY)
+1.0%
SPDR S&P Homebuilders (NYSE: XHB)
+1.5%
iShares US Real Estate (NYSE: IYR)
+1.5%
Pultegroup (NYSE: PHM)
+1.4%
Toll Brothers (NYSE: TOL)
+1.0%
Bank of America (NYSE: BAC)
Unchanged
Wells Fargo (NYSE: WFC)
+0.3%
MGIC Investment (NYSE: MTG)
+3.4%
Radian Group (NYSE: RDN)
+1.4%
Investors Title (Nasdaq: ITIC)
+0.8%
iShares Mortgage Real Estate (NYSE: REM)
+0.5%
Invesco Mortgage Capital (NYSE: IVR)
+0.1%
New Residential Investment (NYSE: NRZ)
+0.2%

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only. Editor's Note: Article should interest investors in Investors Title (Nasdaq: ITIC), Freddie Mac (OTC: FMCC.OB), Fannie Mae (OTC: FNMA.OB), UltraShort Real Estate ProShares (NYSE: SRS), Ultra Real Estate ProShares (NYSE: URE), ING Clarion Global Real Estate Income Fund (NYSE: IGR), Xinyuan Real Estate Co. (NYSE: XIN), Rydex Real Estate Fund H (Nasdaq: RYHRX), T. Rowe Price Real Estate Fund (Nasdaq: TRREX), Toll Brothers (NYSE: TOL), Hovnanian (NYSE: HOV), D.R. Horton (NYSE: DHI), Beazer Homes (NYSE: BZH), Lennar (NYSE: LEN), K.B. Homes (NYSE: KBH), Pulte Homes (NYSE: PHM), NVR Inc. (NYSE: NVR), Gafisa SA (NYSE: GFA), MDC Holdings (NYSE: MDC), Ryland Group (NYSE: RYL), Meritage Homes (NYSE: MTH), Brookfield Homes (NYSE: BHS), Standard Pacific (NYSE: SPF), M/I Homes (NYSE: MHO), Orleans Homebuilders (AMEX: OHB), Vanguard REIT Index ETF (NYSE: VNQ), PNC Bank (NYSE: PNC), J.P. Morgan Chase (NYSE: JPM), Hooker Furniture (Nasdaq: HOFT), Ethan Allen (NYSE: ETH), Pier 1 Imports (NYSE: PIR), Williams Sonoma (NYSE: WSM), Home Depot (NYSE: HD), Lowes (NYSE: LOW), Nasdaq: XNFZX, Nasdaq: FSAZX, Avatar Holdings (Nasdaq: AVTR), Apartment Investment & Management (NYSE: AIV), Equity Residential (NYSE: EQR), Avalonbay Communities (NYSE: AVB), UDR Inc. (NYSE: UDR), Essex Property Trust (NYSE: ESS), Camden Property Trust (NYSE: CPT), Senior Housing Properties (NYSE: SNH), BRE Properties (NYSE: BRE), Home Properties (NYSE: HME), Mid-America Apartment (NYSE: MAA), Equity Lifestyle Properties (NYSE: ELS), American Campus Communities (NYSE: ACC), Colonial Properties (NYSE: CLP), American Capital Agency (Nasdaq: AGNC), Sun Communities (NYSE: SUI), Associated Estates (NYSE: AEC), PennyMac Mortgage (NYSE: PMT), Two Harbors (AMEX: TWO), Simon Property Group (NYSE: SPG).

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Wednesday, January 20, 2016

Extraordinary Mortgage Application Activity


trojan horse
Published January 13

Followers of mine know I have been bullish real estate for some time and that I remain so for 2016. But I cannot sit idly by and allow for misconception about an extraordinary mortgage applications surge. It is not representative of anything fundamentally extraordinary for real estate, but rather reflects an anomaly. See more on the extraordinary mortgage application activity here.

Real Estate Relative Stocks
Wednesday 2:00 PM ET
SPDR S&P 500 (NYSE: SPY)
-1.5%
iShares US Real Estate (NYSE: IYR)
-0.1%
iShares Mortgage Real Estate  Capped (NYSE: REM)
-2.2%
SPDR S&P Homebuilders (NYSE: XHB)
-2.7%
PulteGroup (NYSE: PHM)
-1.9%
MGIC Investment (NYSE: MTG)
-2.1%
Investors Title (Nasdaq: ITIC)
-0.0%
Bank of America (NYSE: BAC)
-2.1%

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only. Editor's Note: Article should interest investors in Investors Title (Nasdaq: ITIC), Freddie Mac (OTC: FMCC.OB), Fannie Mae (OTC: FNMA.OB), UltraShort Real Estate ProShares (NYSE: SRS), Ultra Real Estate ProShares (NYSE: URE), ING Clarion Global Real Estate Income Fund (NYSE: IGR), Xinyuan Real Estate Co. (NYSE: XIN), Rydex Real Estate Fund H (Nasdaq: RYHRX), T. Rowe Price Real Estate Fund (Nasdaq: TRREX), Toll Brothers (NYSE: TOL), Hovnanian (NYSE: HOV), D.R. Horton (NYSE: DHI), Beazer Homes (NYSE: BZH), Lennar (NYSE: LEN), K.B. Homes (NYSE: KBH), Pulte Homes (NYSE: PHM), NVR Inc. (NYSE: NVR), Gafisa SA (NYSE: GFA), MDC Holdings (NYSE: MDC), Ryland Group (NYSE: RYL), Meritage Homes (NYSE: MTH), Brookfield Homes (NYSE: BHS), Standard Pacific (NYSE: SPF), M/I Homes (NYSE: MHO), Orleans Homebuilders (AMEX: OHB), Vanguard REIT Index ETF (NYSE: VNQ), PNC Bank (NYSE: PNC), J.P. Morgan Chase (NYSE: JPM), Hooker Furniture (Nasdaq: HOFT), Ethan Allen (NYSE: ETH), Pier 1 Imports (NYSE: PIR), Williams Sonoma (NYSE: WSM), Home Depot (NYSE: HD), Lowes (NYSE: LOW), Nasdaq: XNFZX, Nasdaq: FSAZX, Avatar Holdings (Nasdaq: AVTR), Apartment Investment & Management (NYSE: AIV), Equity Residential (NYSE: EQR), Avalonbay Communities (NYSE: AVB), UDR Inc. (NYSE: UDR), Essex Property Trust (NYSE: ESS), Camden Property Trust (NYSE: CPT), Senior Housing Properties (NYSE: SNH), BRE Properties (NYSE: BRE), Home Properties (NYSE: HME), Mid-America Apartment (NYSE: MAA), Equity Lifestyle Properties (NYSE: ELS), American Campus Communities (NYSE: ACC), Colonial Properties (NYSE: CLP), American Capital Agency (Nasdaq: AGNC), Sun Communities (NYSE: SUI), Associated Estates (NYSE: AEC), PennyMac Mortgage (NYSE: PMT), Two Harbors (AMEX: TWO), Simon Property Group (NYSE: SPG).

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Tuesday, December 29, 2015

Real Estate - Why Existing Home Sales Slip Doesn't Faze Me

yawn
The Existing Home Sales Report for the month of November offered a result that was far short of economists’ expectations. Sales activity appeared to show a severe setback for housing. However, there were good reasons for investors to be unfazed by the misleading news. One of those reasons was anomalous and was noted in the report. The others have to do with the still strong fundamentals for the housing recovery in America. For more on why we're unfazed by the existing home sales slip.

Housing Relative Securities
Day of the Report  12-22-15
SPDR S&P 500 (NYSE: SPY) for comparison
+0.9%
iShares U.S. Real Estate (NYSE: IYR)
+0.4%
Real Estate Select Sector SPDR (NYSE: XLRE)
+0.9%
SPDR Homebuilders (NYSE: XHB)
+0.8%
MGIC Investment Corp. (NYSE: MTG)
+1.8%
PulteGroup (NYSE: PHM)
+0.2%
Investors Title (Nasdaq: ITIC)
+1.1%
J.P. Morgan Chase (NYSE: JPM)
+0.2%

DISCLOSURE: Kaminis is long Bank of America (NYSE: BAC). Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only. Editor's Note: Article should interest investors in Investors Title (Nasdaq: ITIC), Freddie Mac (OTC: FMCC.OB), Fannie Mae (OTC: FNMA.OB), UltraShort Real Estate ProShares (NYSE: SRS), Ultra Real Estate ProShares (NYSE: URE), ING Clarion Global Real Estate Income Fund (NYSE: IGR), Xinyuan Real Estate Co. (NYSE: XIN), Rydex Real Estate Fund H (Nasdaq: RYHRX), T. Rowe Price Real Estate Fund (Nasdaq: TRREX), Toll Brothers (NYSE: TOL), Hovnanian (NYSE: HOV), D.R. Horton (NYSE: DHI), Beazer Homes (NYSE: BZH), Lennar (NYSE: LEN), K.B. Homes (NYSE: KBH), Pulte Homes (NYSE: PHM), NVR Inc. (NYSE: NVR), Gafisa SA (NYSE: GFA), MDC Holdings (NYSE: MDC), Ryland Group (NYSE: RYL), Meritage Homes (NYSE: MTH), Brookfield Homes (NYSE: BHS), Standard Pacific (NYSE: SPF), M/I Homes (NYSE: MHO), Orleans Homebuilders (AMEX: OHB), Vanguard REIT Index ETF (NYSE: VNQ), PNC Bank (NYSE: PNC), J.P. Morgan Chase (NYSE: JPM), Hooker Furniture (Nasdaq: HOFT), Ethan Allen (NYSE: ETH), Pier 1 Imports (NYSE: PIR), Williams Sonoma (NYSE: WSM), Home Depot (NYSE: HD), Lowes (NYSE: LOW), Nasdaq: XNFZX, Nasdaq: FSAZX, Avatar Holdings (Nasdaq: AVTR), Apartment Investment & Management (NYSE: AIV), Equity Residential (NYSE: EQR), Avalonbay Communities (NYSE: AVB), UDR Inc. (NYSE: UDR), Essex Property Trust (NYSE: ESS), Camden Property Trust (NYSE: CPT), Senior Housing Properties (NYSE: SNH), BRE Properties (NYSE: BRE), Home Properties (NYSE: HME), Mid-America Apartment (NYSE: MAA), Equity Lifestyle Properties (NYSE: ELS), American Campus Communities (NYSE: ACC), Colonial Properties (NYSE: CLP), American Capital Agency (Nasdaq: AGNC), Sun Communities (NYSE: SUI), Associated Estates (NYSE: AEC), PennyMac Mortgage (NYSE: PMT), Two Harbors (AMEX: TWO), Simon Property Group (NYSE: SPG).

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Monday, October 05, 2015

What does the Sudden Drop in Mortgage Activity mean for Real Estate?

Mortgage applications declined sharply in the just reported period. Given what’s going on today in financial markets, and some recently poor signs in other housing data, I thought we should examine and discuss whether this is a warning sign for real estate or not. In the end, a simple explanation looks like the culprit behind the decline, and it is not one that worries me about real estate moving forward. See the report on mortgage applications and what the dip means. 

Real Estate Relative Shares
09-30-15 Intraday
iShares US Real Estate (NYSE: IYR)
+0.4%
MGIC Investment (NYSE: MTG)
+0.1%
Bank of America (NYSE: BAC)
+0.4%
SPDR S&P Homebuilders (NYSE: XHB)
+0.8%
PulteGroup (NYSE: PHM)
-0.3%
D.R. Horton (NYSE: DHI)
+0.6%
Ryland (NYSE: RYL)
-1.9%
Toll Brothers (NYSE: TOL)
+0.03%
Lennar (NYSE: LEN)
+1.2%

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

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Monday, July 27, 2015

Happy for Housing

The National Association of Home Builders (NAHB) reported its Housing Market Index (HMI) last week. The report showed builder confidence at its highest point since November 2005. Home builders are in a good mood alright, and I have a good feeling about housing too. See more of our real estate report here. Article interests SPDR Homebuilders (NYSE: XHB), iShares US Real Estate (NYSE: IYR), Bank of America (NYSE: BAC), D.R. Horton (NYSE: DHI), K.B. Home (NYSE: KBH), PulteGroup (NYSE: PHM), Toll Brothers (NYSE: TOL), Hovnanian Group (NYSE: HOV).

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

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Tuesday, June 09, 2015

REAL ESTATE – Mortgage Activity is NOT Down

If I have taught you anything about real estate it's this: Do not to take mortgage data too seriously around 3-day holiday weekends. With regard to the last two weeks’ data, I suggest real estate enthusiasts simply ignore the application activity. The Mortgage Bankers Association (MBA) data regularly shows wild swings around holidays because of some imperfections with the seasonal adjustment process. See my real estate report here. Article interests iShares US Real Estate (NYSE: IYR), SPDR Homebuilders (NYSE: XHB), MGIC Investment (NYSE: MTG), Bank of America (NYSE: BAC), J.P. Morgan Chase (NYSE: JPM), Citigroup (NYSE: C).

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

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Sunday, May 31, 2015

Real Estate – A Lesson for You

If I have taught you anything about real estate it's this: Do not to take mortgage data too seriously around 3-day holiday weekends. With regard to this week's data and next week's, I suggest real estate enthusiasts simply ignore the application activity. The Mortgage Bankers Association (MBA) data regularly shows wild swings around holidays because of some imperfections with the seasonal adjustment process. See the real estate report. iShares US Real Estate (NYSE: IYR), SPDR S&P Homebuilders (NYSE: XHB), J.P. Morgan Chase (NYSE: JPM), KB Home (NYSE: KBH), Radian Group (NYSE: RDN).

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

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Are You Surprised About Real Estate?

Are you surprised real estate is doing well? Readers of this column should not be, as I have been pounding the table this year that 2015 would be a strong one for real estate. The data is proving me right now. Expect more good news as the year progresses and another good year in 2016 as well. See my real estate report. iShares US Real Estate (NYSE: IYR), SPDR S&P Homebuilders (NYSE: XHB), Bank of America (NYSE: BAC), Pultegroup (NYSE: PHM), MGIC Investment (NYSE: MTG).

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

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Tuesday, March 31, 2015

Real Estate Springs Green Sprouts

Pending Home Sales were reported Monday morning for the month of February. The data offered another green sprout, showing early signs that real estate activity is picking up. It was one of several recent indicators to do so. I see important reasons why real estate will see significant progress in 2015 and 2016 and recommend investment in real estate and in relative securities. See my report on real estate here.

Real Estate Relative Stocks
YTD
TTM
iShares US Real Estate (NYSE: IYR)
+3.6%
+22.4%
SPDR S&P Homebuilders (NYSE: XHB)
+9.1%
+13.9%
Bank of America (NYSE: BAC)
-13.0%
-8.9%
MGIC Investment (NYSE: MTG)
+4.1%
+14.3%
Market Vectors Mortgage REIT (NYSE: MORT)
+1.0%
+9.3%
Pultegroup (NYSE: PHM)
+5.9%
+18.4%
D.R. Horton (NYSE: DHI)
+12.5%
+30.6%
Apartment Investment & Mngmt. (NYSE: AIV)
+6.0%
+36.0%
Equity Residential (NYSE: EQR)
+8.2%
+40.2%
Prologis (NYSE: PLD)
+2.1%
+11.2%

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

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