cabanker

Visualizing Job Losses and Gains in U.S.

Great visual. Hard to imagine we are going to have any kind of sustained rally in housing prices with unemployment continuing to climb month after month. I'm seeing "lots" of for sale signs in the bay area, and very few "sold".
The Banks may be able to offset the continued loan loss provisions with NIM, so that sector should begin to settle (stock prices have already reflected that fact).
The big question is where do we go from here in sectors ex-financials? Is the new normal 10%+ unemployment?