It is the 20th of August 2017

News

Rents Across The US Hit A New All Time High

After dropping to an all time low 62.9% in Q2 of 2016, the US homeownership rate rebounded modestly in the subsequent two quarters, then dropped again at the start of the year, before once again rising fractionally to 63.7% in Q2 of 2017 from 63.6% in the previous quarter, just 1% from the all time lows in the series history going back to the mid 1960s.

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Even Schwab Is Warning Retail Clients Of "Danger Signs Rising"

You know it's bad when even the traditional 'pumpers' are getting anxious. While obviously counched in its own "well maybe that's not totally terrible" spin, reading the following from Charles Schwab suggests Liz Ann Sonders, Brad Sorensen, and Jeffrey Kleintop were all struggling to defend any bullish position and perhaps more desperate to CYA in case reality doesn't match their hard-sold perception...

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In Which States Do Most Millennials Live With Their Parents?

Just a few short decades ago America's youth was highly encouraged by eager parents to become self-sufficient by the ripe old age of 18.  Today, the mere suggestion of such a thing could land unsuspecting parents in prison for 'triggering' their offspring with malicious 'hate speech.'

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"Something Snapped": US Department Store Sales Crash Most On Record

As we first documented last week in "Mega-Bears Smell Blood As Mall REITs Tumble" and as Bloomberg followed up yesterday, looking at CMBS on the Mall REIT space, many have set their sights on mall REITs as the "next big short." However, an obvious question that has emerged is whether it is too late to go all in on this particular short, or whether as some have suggested, the bottom is in.  “The short feels crowded to us,” said Matthew Weinstein, principal at Axonic Capital, a hedge fund that specializes in structured products. “If these defaults start happening soon, the short will work, but if the defaults do not occur quickly, the first guy out could drive the market meaningfully higher.”

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