EWRE News and Press, Invesco S&P 500 Equal Weight Real Estate From 09/30/22

Summary With Hurricane Ian making landfall as a destructive Category 4 storm on the Southwest Florida coast this week, we examine the expected impact on manufactured housing REITs. The storm took a similar path as Hurricane Irma in 2017, but Ian's storm surge and wind impacts appe...

Summary Rising mortgage rates and a lack of affordability are prompting a steep drop-off in demand for housing. At the same time inventory for sale is on the rise. A combination of falling transactions and prices will intensify the recessionary forces the US economy is facing....

Summary U.S. new home sales unexpectedly rose in August 2022. Mortgage rates dipped slightly from July to August 2022, falling from 5.41% to 5.22%. Looking forward, we anticipate September 2022 will see both fewer sales and lesser affordability given the spike in mortgage rate...

Summary Tuesday's release of the August New Home Sales from the Census Bureau came in at 685K, up 28.8% month-over-month from a revised 532K in July. The median home price is now at $437K. The population-adjusted version is 34.6% below the first 1963 sales and at a level simil...

Summary Inflation as measured by government indices (e.g., CPI, PCE Deflator) is a lagging indicator of true inflation. True inflation is defined as the loss of purchasing power of a currency. Right now that is just not the case: the dollar is soaring against nearly every currency...

Summary Sales of new single-family homes bounced higher in August, jumping 28.8 percent to 685,000 at a seasonally-adjusted annual rate from a 532,000 pace in July. The surprising result is unlikely to be sustained in the coming months. The total inventory of new single-family...

Summary Powell’s speech last Wednesday raised recession fears. The Atlanta Fed revised its third-quarter GDP estimate down to a +0.3% annual pace, down from its previous estimate of a +0.5% annual pace. U.S. interest rates also shot up in response to the Fed Chair’s ...

Summary Most of your money market or high yield options will cost you 0.1% in expense ratio and get about half of what T-Bills are earning. Mortgage rates are about to jump over the 7% mark. Which is crazy because, when rates were at 5% early this year, I outlined why I had become...

Summary Stocks are now back down to the lows set in June and sentiment is as negative now as it was then. There is a long list of technical items that have hit levels or rates of change we associate with bottoms, short- or long-term. The economic data last week was mostly abou...

Summary U.S. equity and bond markets plunged to the lowest levels of the year this past week after the Federal Reserve reiterated that further economic "pain" was necessary to cool inflation. Declining in five of the past six weeks and effectively erasing all of the benchmark's ga...