Robert Schiller spoke today with left-of-centerCNBC about housing and the markets.
The origin of the Case-Schiller index is, per Wikipedia is as follows.
“The Standard & Poor’s Case–Shiller Home Price Indices are repeat-sales house price indices for the United States. … These Indices are based on original work by economists Karl Case and Robert Shiller, in which their team calculated the home price index back to 1890.”
That is Robert Schiller.
What Shiller had to say about what he sees ahead, as soon as later this year, in the housing market is our featured focus tonight. Note that this makes a useful bookend to our morning report, linked below. ICYMI or need a refresher, click the image or the headline below it to see that report.
The balance of the featured focus segment of this evening’s report is found beyond the left-right headline news bullets and 2 of our 3 market snapshots at the close today. The manufactured housing industry connected stocks are near the end of the report each evening, after the featured focus and the related/recent report links.
Quotes That Shed Light – American Social, Industry, National Issues…
This is an interesting statement that voices across the left-center-right spectrum that are objective could embrace.
Understanding media bias is useful to sifting through possibly hidden agendas.
As the US and China battle over the future of technology, nations and companies choose sides
Dow surges then fizzles after stocks briefly turn positive for 2020
Jack Ma cashes out billions of dollars in Alibaba shares as stock booms
Hong Kong Disneyland will close again after a surge in coronavirus cases
Fisker plans to go public in a $2.9 billion deal
Tesla scraps plans for its bargain version of the Model Y
Facebook’s future keeps getting murkier
This game could be the next ‘Fortnite’
Wells Fargo tells employees to delete TikTok from company devices amid security concerns
Analog Devices to buy Maxim Integrated for $21 billion
Food is a big deal at work. Here’s how lunch and snacks will change
National French Fry Day is today. Here’s where to grab free fries
Chipotle is testing out a new type of rice
A pedestrian wearing a protective mask walks past a boarded up Citigroup Inc. Citibank branch in Washington, D.C., U.S., on Thursday, June 4, 2020. Mayor Muriel Bowser lifted the curfew in D.C. for Thursday, the Washington Post reported.
‘It’s going to be really ugly.’ Here come the big bank earnings
The opening of the first LEGO authorized store attracted customers. Yantai, Shandong Province, China, May 15, 2020.
This could be the greatest Lego set of all time
People gather to ask McDonald's corporation to raise workers wages to a $15 minimum wage as well as demanding the right to a union on May 23, 2019 in Fort Lauderdale, Florida. The nationwide protest at McDonald’s was held on the day of the company's shareholder meeting.
US workers demanding union rights plan to walk off the job in Strike for Black Lives
MARKETS
THE DEBATE OVER TIKTOK
Amazon tells employees to delete TikTok immediately—then takes it back
TikTok users panic as US considers banning app
Is TikTok really a national security threat?
India bans TikTok as tensions with China escalate
Instagram pounces on India market after TikTok is banned
THE RICH GET RICHER
Elon Musk, Founder and Chief Engineer of SpaceX, speaks during the Satellite 2020 Conference in Washington, DC, United States on March 9, 2020.
Elon Musk just became richer than Warren Buffett
Jeff Bezos is so rich he just set a new record
Where Jeff Bezos’ wealth comes from
Amazon, Apple and Microsoft race to $2 trillion
Asia’s richest man is now one of the world’s 10 wealthiest people
Headlines from right-of-center Fox Business (Notice: typos below are in the original)
CORONAVIRUS
Cuomo threatens travelers to NYC with a hefty fine if they break quarantine rules
Travelers from 19 states are required to fill out a form detailing where they came from and where they’re going before they leave the airport.
Officials weigh tax hikes to offset coronavirus impact on budgets: What to know
Coronavirus phase 4 stimulus bill coming, Kudlow says ‘conclusively’
MARKETS
Stocks surrender gains after California rolls back coronavirus reopenings
AMC reaches agreement with bondholders to reduce debt
MONEY
Cuomo, de Blasio clash over NYC schools reopening in the fall
Trump willing to give extra aid to schools that reopen: adviser
LAW ENFORCEMENT
Trump holds roundtable with Americans helped by police amid protests
PERSONAL FINANCE
July 15 tax deadline: How to get your refund ASAP
BREATHING ROOM
NFL
Patriots free millions for player salaries after Hernandez case settled
HAYMAKER
RICH & FAMOUS
Johnny Depp says ex-wife Amber Heard punched him over losing $650M
$10,000 PILLOWS?
LIFESTYLE
Ellen questioned for Wayfair partnership amid conspiracy theory
BORDERLINE CASES
BUSINESS LEADERS
Canada, U.S. likely to extend ban on non-essential travel: sources
BYE BYE, BONUS?
MONEY
Unemployment benefits in next stimulus package: Here’s what we know
Loughlin, Giannulli sell California home for below asking price
BEL AIR BLUES
REAL ESTATE
Loughlin, Giannulli sell California home for below asking price
NEW ROUTES NEEDED
NFL
Washington NFL trademark issues complicate Redskins name change
JOBS UP IN THE AIR
AIRLINES
Southwest Airlines warns it may cut jobs without jump in travel
BIN THE BINGE
LIFESTYLE
How to break coronavirus lockdown bad habits
THE PLACES TO BE
ECONOMY
Unemployment is recovering fastest in these 10 states
MITCH’S PITCH
POLITICS
McConnell to present stimulus package to Republicans next week: Report
STAR WARS MEETS STREAM WARS
DISNEY
New ‘Star Wars’ series will debut on Disney+ in 2021
CALM BEFORE THE STORM?
RETAIL
Amazon takes unusual step to prepare for holiday shopping rush
SCHOOLS IN REVOLT
POLITICS
Schools back lawsuit against Trump admin over foreign student rule
WOODEN DOLLARS
ECONOMY
Small town starts printing its own currency as coronavirus hits economy
ECONOMY
Outer Banks island ravaged by storms, virus restrictions
RETAIL
Coronavirus leads New York & Company into bankruptcy, closing most stores
ECONOMY
America’s budget deficit hits record-shattering number in June
TECH
Wells Fargo bans TikTok on all company-owned devices
LIFESTYLE
Scientists hoped summer temperatures would tamp down COVID-19 cases. What happened?
TRAVEL
Airlines keeping middle seats open would cost you this much, according to one report
SOCIAL MEDIA
White House eyes major crackdown on TikTok amid privacy concerns
LIFESTYLE
Coronavirus causes Hong Kong Disneyland to shut down again
CHARITY
Coronavirus forces Dollar Tree to revamp back-to-school program for military families
MONEY
‘Say no to cancel culture’: Virginia man raises $77K to donate Goya products to food pantries
FOOD & DRINKS
Chipotle piloting new menu item. Where to find it
POLITICS
Latino chefs blast Goya Foods after CEO’s pro-Trump comments
VIDEO
Joe Namath on Redskins name change: ‘It’s about time’
BUSINESS LEADERS
Abigail Disney, other mllionaires call for higher taxes for coronavirus relief: ‘It is the only choice’
MONEY
China trades sanctions with US in row over Uighur Muslims
MONEY
The IRS wants taxpayers to claim $1.5B in unclaimed refunds — but there’s less than 1 week to do it
OPINION
China is using the coronavirus recession to target this US industry
VIDEO
Ghislaine Maxwell will be granted bail: Criminal defense attorney
TECHNOLOGY
Google trying to get Americans without college degree into high-paying jobs
MARKETS
Analog Devices to buy rival Maxim Integrated, form $68B chipmaker
TECHNOLOGY
Apple spends $400M to fight California housing crisis
ADVERTISING
Target, MTV blocked ads from news mentioning ‘George Floyd’ and ‘protests’
FOOD & DRINK
UK pub installs electric fence at the bar to ensure patrons socially distance: report
VIDEO
Disney guests will decide if reopening is too early: Former Walt Disney World Resort VP
REAL ESTATE
Broadway star shows off huge luxury coach house
LIFESTYLE
Florida insurance agent fired after Costco confrontation breaks silence
Featured Focus – Where Business, Politics and Investing Can Meet
Still from video posted further below.
From left-of-centerCNBC are the bullets from today’s report. It will be followed by
“I think there’s a risk that home prices in urban areas may decline,” Nobel Prize-winning economist Robert Shiller told CNBC.
The benefits of city living, such as restaurants, museums or theater shows, have been put into question during the coronavirus pandemic, according to Shiller.
Shiller said assets are “highly priced” across major markets, including housing, stocks and bonds.
“I think there’s a risk that home prices in urban areas may decline,” Shiller said in a CNBC interview.
Urban areas have proven to be resilient to price declines during the pandemic. Prices for existing homes across 19 big cities in the U.S. rose 4% in April from a year earlier, according to the S&P CoreLogic Case-Shiller National Home Price Index.
Shiller, co-founder of the index, said benefits of city living, such as restaurants, museums or theater shows, and more have been put into question during the pandemic. City dwellers have fled to the suburbs or more rural areas, as MHProNews has been periodically reporting for some weeks.
Suburban housing could be a better investment for homebuyers given COVID19 uncertainty, Shiller added.
“People forget that a lot of the value of homes outside of the central city is in the structure and you can build more of them,” he said. “Home prices out of the dense urban setting tend to follow construction costs, and so there shouldn’t be any big movement in those prices.”
Shiller correctly predicted the housing bust in 2007 and 2008. Shiller said assets are “highly priced” across major markets, including housing, stocks, and bonds.
“This is learning by doing. We’re experiencing a different kind of world where we’re all online and that will change the kind of jobs that we have,” he said.
MHProNews Analysis and Commentary
In recent days, MHProNews has provided data to industry professionals on the surge in the RV industry. While it still trails 2019, the current trends are that it could surpass the pace in the near term.
In fairness, the future is not easy to forecast. On May 24 2020, who would have thought that there would be an eruption of violence across America in response to the arguably avoidable death of George Floyd?
When the economy was roaring in mid-January, who would have thought that the distant concerns about the Wuhan China originated novel coronavirus would lead to the markets, economy, tens of millions of jobs, education, and more to be so upended?
It remains to be seen if Schiller is correct or not about his concerns. Just a few months ago, Marcus and Millichap were arguing that the steps taken by the Trump Administration and Congress could avoid the type of economic disruption that has hit since the partial-to-extensive economic shutdowns.
That tweet by former Obama Administration operative Valerie Jarrett brought sharp responses. Jarrett “served as the senior advisor to U.S. President Barack Obama and assistant to the president for public engagement and intergovernmental affairs from 2009 to 2017,” says Wikipedia.
Dear God, this may be the worst victory lap of them all.
‘SACRIFICE FOR THE GREATER GOOD!’
Wut?
430k cases
32,403 DEATHS
Age>75, 665 deaths per 100k
65-74, 663
About 30 children have died, and hundreds have viral sequelae.
Each of these Tweets were highlighted by right-of-center Red State.
More people died with coronavirus in New York City (population 8 million) than Texas (29 mil), Florida (21 mil), California (39 mil) and Georgia (11 mil) … combined. https://t.co/8CLb81l8u3
See eye opening letter and related report at this link here.
Not long after this statement by progressives cited above decrying threats that aim to silence dissent, Representative Alexandria Ocasio Cortez (AOC) called for a boycott of a minority owned business. Goya’s president was previously a guest of the Obama White House. Where is the logic, fairness, or consistency from AOC? Or is silencing opposition without debate her goal and that of others like herself?
The more the political left push against the facts and try to bully the right, there are indications that the awakening of untold numbers of Americans are underway.
Those who believe in freedom of speech, free markets over monopolists and Marxists supported by billionaires must recognize that the time to draw the line is now.
Manufactured Housing Industry Investments Connected Closing Equities Tickers
Some of these firms invest in manufactured housing, or are otherwise connected, but may do other forms of investing or business activities too.
NOTE: The chart below includes the Canadian stock, ECN, which purchased Triad Financial Services, a manufactured home industry lender
NOTE: Drew changed its name and trading symbol at the end of 2016 to Lippert (LCII).
Summer 2020… Berkshire Hathaway is the parent company to Clayton Homes, 21st Mortgage, Vanderbilt Mortgage and other factory built housing industry suppliers. · LCI Industries, Patrick, UFPI, and LP each are suppliers to the manufactured housing industry, among others. · AMG, CG, and TAVFX have investments in manufactured housing related businesses. For insights from third-parties and clients about our publisher, click here. Enjoy these ‘blast from the past’ comments. MHProNews. MHProNews – previously a.k.a. MHMSM.com – has celebrated our tenth anniversary and is in year 11 of publishing.
Learn more about our evolutionary journey as the industry’s leading trade media, at the report linked below.
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By L.A. “Tony” Kovach – for MHLivingNews.com. Tony earned a journalism scholarship and earned numerous awards in history and in manufactured housing. For example, he earned the prestigious Lottinville Award in history from the University of Oklahoma, where he studied history and business management. He’s a managing member and co-founder of LifeStyle Factory Homes, LLC, the parent company to MHProNews, and MHLivingNews.com. This article reflects the LLC’s and/or the writer’s position, and may or may not reflect the views of sponsors or supporters.