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Falling Rents, Credit Card Defaults, and Market
Calculated Risk — Click on graph for larger image in new window. This graph is from Doug Short of dshort.com (financial planner): "Four Bad Bears". Note that the Great Depression crash is based on the DOW; the three others are for the S&P; 500. From Bloomberg: Manhattan Apartment Rents Drop as Employers Cut Jobs (ht Mike In Long Island) Manhattan apartment rents dropped an average of at least 8 percent ... Rents for studio apartments fell 11 percent to an average of $1,763, according to the broker’s data on ...

Bill Gross Bets On Deflation
Mish's Global Economic Trend Analysis — PIMCO's Bill Gross has a switch of heart. He has gone from hating treasuries to liking them. Please consider Pimco’s Gross Buys Treasuries Amid Deflation Concern. Bill Gross, who runs the world’s biggest bond fund at Pacific Investment Management Co., said he’s been buying longer maturity Treasuries in recent weeks as protection against deflation. “There has been significant flattening on the long end of the curve,” Gross said in an interview from Newport Beach, California, with Bloomberg Radio. “This reflects the re- emergence of deflationary fears. The U.S. is at the center of de-levering as opposed to accelerating ...

Real Estate Outlook: Mortgage Rate Dip Impacts Housing
Millionaire Now! — Washington Report: FHA News - New FHA Commissioner David Stevens has announced comprehensive changes to the agency's appraisal rules and a 10% reduction in the amount of money ...

BLS Owner's Equivalent Rent Numbers From Twilight Zone
Mish's Global Economic Trend Analysis — In Bill Gross Bets On Deflation I posted some links on falling rent prices courtesy of Lansler on Real Estate. Here is a recap. Rents Falling Everywhere Given that the official measure of CPI is based on rents not housing prices, please consider the following collection of links courtesy of Lanser on Real Estate: Really? Rents fall almost everywhere. Manhattan:Apartment Rents Drop as Employers Cut Jobs Houston: Renters are snagging deals in a slowing local market Tuscon: On your mark, get set, go! Apartment firm makes game of it. Nashville: Apartment rates ...

Year-Over-Year CPI Negative 7th Consecutive Month; Rents Decline First Time In 17 Years
Mish's Global Economic Trend Analysis — Bloomberg is reporting Consumer Prices in U.S. Increased at Slower Pace The cost of living in the U.S. rose at a slower pace in September, showing inflation will not be a threat as the economy emerges from the worst recession since the Great Depression. The 0.2 percent gain in the consumer-price index followed a 0.4 percent increase in August, as forecast, figures from the Labor Department showed today in Washington. Excluding food and energy costs, the so-called core index also climbed 0.2 percent, more than anticipated and pushed up by health care and a rebound in auto prices. Rents dropped for the first time in 17 ...