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  • The company that registered the “iPad” trademark in China doesn’t just want to keep Apple (AAPL) from selling its device inside China; now it wants to keep Apple from shipping iPads across China’s borders as well. Proview’s request comes a day after officials in one Chinese city confiscated iPads from local resellers, and a week after it filed suit to stop Apple from using the iPad name in China.   [View news story]
    What will happen to Apple's numbers should China close the door on sales?
    Feb 14, 2012. 12:12 PM | Likes Like |Link to Comment
  • Amazon's (AMZN) Q4 results are due out after the bell, with analysts expecting EPS fell 79.1% to $0.19 due to the company's prodigious spending. Revenues are seen +41% to $18.2B. Investors will be looking out for sales of the Kindle Fire, for which Stifel Nicolaus has predicted 6M vs. Apple's 15.4M.   [View news story]
    As a side note. Just rec'd an email from AMZN: "The South Carolina Department of Revenue requires us to provide the following notice to you:

    You may owe South Carolina use tax on purchases you made from Amazon Digital Services, Inc. during the previous calendar year. The amount of tax you may owe is based on the total sales price of the items you purchased during the previous calendar year." It goes on to give me the total amount of purchases I made through AMZN through 2011 requesting that I report it on my SC taxes... I'm more than happy to pay sales tax on purchases made in store as I understand my use of car has wear and tear on the infrastructure that needs to be maintained. What I don't agree with is that the state thinks they should be paid becuase the purchase was made online. I'll think twice before I make another AMZN purchase...
    Jan 31, 2012. 09:51 AM | 1 Like Like |Link to Comment
  • More on Existing Home Sales (previous): The downtrend in housing inventory continues with a 9.2% Y/Y drop to 2.38M existing homes available for sale - marking a 6.2-month supply. Available inventory is at its lowest level since March 2005 when 2.30M homes sat on the market. NAR chief economist Lawrence Yun notes that the inventory number suggests many markets will see prices "stabilize or grow moderately" in the near future.  [View news story]
    Bunch of BS. The NAR is a bunch of pumping weasels. As much as I hate to admit that I'm a member, it makes me want to get sick when I read these comments from Yun. "Stabilize or grow moderately". Are you serious? Locally our MLS has right at 7,500 seventy five hundred properties for sale with under 400 pending. Not that good at math, but pretty sure that's a bit more inventory than 6 months supply. Pretty sure we didn't have near this many listings in 2005. 2005 was a the last year that properties were selling about as soon as they came on the market.
    Jan 20, 2012. 10:24 AM | Likes Like |Link to Comment
  • January Reuters/UofM Consumer Sentiment: 74.0 preliminary vs. 71.5 expected and 69.9 in December.   [View news story]
    I think it has more to do about the timing of Michigan winning the bowl game against VT. Had Michigan lost, the number would have been below 69...
    Jan 13, 2012. 10:18 AM | Likes Like |Link to Comment
  • Fed officials are seriously considering giving the U.S. economy an added jolt with more QE, according to CNBC’s Steve Liesman, who reports Fed officials are likely to discuss such a move to help bolster flagging housing markets at their Jan. 24-25 meeting.   [View news story]
    Leave the housing market alone. The more QE,the more we struggle to find a real base of value in housing. If you want to improve housing, raise interest rates. Get anyone who's on the fence about buying or investing in real estate motivated by the fear that rates are going up. Low rates just prolong and ad to a lethargic buying base that has no incentive to make a move. Rates go up, both buyers and sellers will be motivated to work together. Rates go up, sellers know they have to drop their price to a realistic value to sell. Buyers know they have to make a move before rates go up again.
    Jan 13, 2012. 09:56 AM | 3 Likes Like |Link to Comment
  • A big jump in new orders booked by Lennar (LEN +7.1%) lifts up shares of the company - as well as helping ring in bold double-digit gains for peers. Ticonderoga Securities analyst Stephen East explains all the fuss: "Orders are the crown jewel in this release, up 20% to 3,027, ahead of any Street estimate we are aware of." Homebuilder advancers: KBH +14.1%, MHO +12.1%, HOV +15.8%, BZH +6%[View news story]
    Wow, now's the time to build a house...? Would like to know where they're building. Must be government housing. Locally we have just over 7,000 listings with a whopping 380 pending sales! To date, new listings are out pacing sales 15:1. Although I would be out of line if I didn't follow through and say that things are begininning to look brighter. Today we're only at 7:1 listings to sales.
    Jan 11, 2012. 03:12 PM | Likes Like |Link to Comment
  • Bank of France Gov. Noyer hits the wires, saying perhaps IMF chief Lagarde was misled by her staff when calling for EU bank recapitalizations. In other comments, he calls rumors of a French downgrade "absurd" and blames recent market tumult on the seasons, saying things don't operate normally in the summer.   [View news story]
    OMG. Seriously. Blaming the weather again. These guys just can't swallow the pill and blame themselves for their economic misfortunes. I just can't wait for the US talking heads to decipher "Hurricane" Irene's economic impact.
    Aug 30, 2011. 01:56 PM | 1 Like Like |Link to Comment
  • May New Home Sales: -2.1% to 319K vs. 310K expected, 326K (revised from 323K) in April. Months' supply 6.2. Median price $222,600.   [View news story]
    Link please to back inventory going down. Just today in our local MLS we have 84 new listings to 16 sales. That's pretty consistent on a daily basis. FL inventory may be going down, but only due to disgruntled sellers or bank foreclosure delays taking inventory temporarily off the market. I'll bet again that the ratio of new listings to sales is quite high even in FL.
    Jun 23, 2011. 02:04 PM | 1 Like Like |Link to Comment
  • May New Home Sales: -2.1% to 319K vs. 310K expected, 326K (revised from 323K) in April. Months' supply 6.2. Median price $222,600.   [View news story]
    FL's Association of Realtors say's it only been 6 consecutive months of increased sales. Average price going down, Stat's are all across the board making positive comments based on year/year and year to current months to put positive spin on crumby numbers. Just over 17,000 homes sold in the entire state last month! I would bet that at least double that amount of new listings came on the market...
    Jun 23, 2011. 11:48 AM | Likes Like |Link to Comment
  • May New Home Sales: -2.1% to 319K vs. 310K expected, 326K (revised from 323K) in April. Months' supply 6.2. Median price $222,600.   [View news story]
    That damn Japanese earthquake. Who would have known it would still be affecting the American housing market... Must be a supply disruption of imported "For Sale" signs.
    Jun 23, 2011. 10:14 AM | 1 Like Like |Link to Comment
  • Foreclosures fell to 4.5% from their record high in Q1 with "significant" declines, the MBA reports: "Real estate markets reflect what’s going on in the rest of the economy." The "serious delinquent" rate also slipped a half-point to 8.1%.   [View news story]
    These number are BS. Foreclosures only fell because the banks put the brakes on the foreclosure process. I know SC for example put a moratorium on foreclosures this month saying there were 13,000 foreclosures in May 2009 and 23,000 May 2011. You do the math. "Real estate markets reflect what’s going on in the rest of the economy." Yeah, lies, lies, and more lies twisting the numbers to make them look "better than expected".
    May 19, 2011. 11:43 AM | 2 Likes Like |Link to Comment
  • Mar. Pending Home Sales: +5.1% to 94.1 vs. +1.7% expected, +2.1% prior, -11.4% Y/Y. "Based on the current uptrend with very favorable affordability conditions, rising apartment rents and ongoing job creation, existing-home sales should rise around 5%-10% this year," NAR's Lawrence Yun says.   [View news story]
    Difference in the inventory today is that it's wide spread made up of not just single family homes/condo's in a city or state, it's an accumulation of de-valued residential, commercial, and industrial properties across the nation. Knocking down condo's to build for highest best use i.e. a strip mall or commercial structure isn't going to work this time and not even close to being feasible. At issue is the nations wide loss of savings that folks thought they had to fall back on in the form of home equity. Municipalities and counties who collect taxes aren't pulling the plug on delinquent owners and banks aren't foreclosing at a rate that would perpetuate a bottom. I'm convinced that if we had let the banks "fail", we would already be on the road to recovery. Yes, it would have been painful, but after the dust settled at least we would know where we are. Right now, it seems that everyone is in the wait and see mode. Banks are slowly and reluctantly pushing out foreclosures hoping, like our government, that the values will increase before they have to show their books again. While the few buyers out there are waiting for even deeper discounts for fear they'll "pay too much". The prolonged cheap interest rates have molded us into "cheap" buyers instead of value buyers. Push the rates up and I guarantee you'll start to see real estate move. We're in agreement that inventory removal is the key, but I don't think we'll be able to get there by the blade of a bulldozer. BTW, today in our Multiple Listing Service our new listings/sales is at 6:1. I think we're going to need a bigger bulldozer...
    Apr 28, 2011. 01:49 PM | 4 Likes Like |Link to Comment
  • Mar. Pending Home Sales: +5.1% to 94.1 vs. +1.7% expected, +2.1% prior, -11.4% Y/Y. "Based on the current uptrend with very favorable affordability conditions, rising apartment rents and ongoing job creation, existing-home sales should rise around 5%-10% this year," NAR's Lawrence Yun says.   [View news story]
    5-10% my azz. Nice way of twisting a market that continues to skid downward. Housing market inventory is increasing everyday and easily out weighs any kind of mystical rise in sales. If we see a 100% increase in new listings y/y a 5-10% rise in sales y/y doesn't mean a whole lot does it? Most renters aren't savers, most homeowners are either under water or at break-even with home equity, and banks have gone back to stricter lending guidelines (where they should have been all along). With a market flooded with inventory, who's buying? At the current rate of purchases to inventory it will be many, many years before we see any type of stability in the housing market.
    Apr 28, 2011. 10:57 AM | 2 Likes Like |Link to Comment
  • For a short time, Americans seemed to be born-again savers, but the savings rate has resumed its slide. A NYT panel debates: Why are Americans spending again? "We have an inequality index that can go head to head with Egypt’s," Thomas Geoghegan comments. "And we're supposed to save?"   [View news story]
    Whole heartedly agree. Friend of mine who lost his job a while back, was looking to short sale his house cause he couldn't afford it anymore and was running out of money (also owes parents). Just took a lower paying job, bought a motorcycle, ipad for him and his wife(before he had a job), just went away for a weekend trip! But on a positive note, it was a Harley... that was repo'd! WTF are people thinking...
    Feb 11, 2011. 01:40 PM | Likes Like |Link to Comment
  • Perhaps a reason for the bounce in crude today: 6000 Suez Canal workers go on strike to protest poor wages and working conditions. Brent Crude ETF: BNO +0.9%. WTI Crude ETF: OIL +0.6%.   [View news story]
    The domino's are beginning to fall. Who's next?
    Feb 8, 2011. 12:08 PM | Likes Like |Link to Comment