I finally deliver on my promise to bring in some good stories with the latest employment news!

It's Friday and who wants to ruin the weekend with more nightmare fuel! Not me! So lets take a look at some news that is actually good! The employment news this week is good - in more than one way. Mortgage rates are at their lowest for 2017! More news outlets are getting that in order to really kick the inventory problem in the butt we need to reduce costly regulations! 

Here are todays articles:

• We Must Fix the Lack of Housing Inventory
• Weekly Initial Unemployment Claims increase to 248,000
• May employment numbers show "rip-roaring" job growth
• Mortgage rates again hit new low for 2017

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We have record high credit scores - this is NOT a good thing.

Get ready folks. You are about to see tons of headlines about how awesome it is that we are experiencing record high credit scores. They will talk about how it will help grow the economy and how it will make everything wonderful. Sadly, this is not the case and it is the same basic phenomenon that got us into trouble the last time. It all feels so similar to those days that I keep looking around to see if there is still a Bush in the White House or if Nickelback has to top hit on the charts.

Here are the articles for todays show:

• Credit Scores Hit Record High
• Fannie Mae: Mortgage Serious Delinquency rate declined in April, Lowest since January 2008
• Consumer Confidence Drops To Weakest Since Feb As 'Soft' Data Slump Continues
• US Home Prices Rise At Fastest Pace In 3 Years To Record Highs
• Trends in Delinquency Rates Point to Continued Healing

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Yeah, you read that right. Now remember, whenever they talk about appealing to more lenders or improving credit scores, they are NOT talking about folks who already have a good credit score. By definition they are giving an artificial boost to borrowers that just a few months ago would not have qualified for a loan base don their FICO score. This is occurring with NO change to their financial knowledge, credit history, income or ability to manage their money. It is just about tweaking numbers to make things appear better without any change to what the number is supposed to measure.

Sorry, more nightmare fuel for todays show. We will also talk about these:

• Three Things Home Buyers Should Never Do
• Case-Shiller shows home prices jump nearly 6% in March
• Personal Income increased 0.4% in April, Spending increased 0.4%
• Millions Of Americans Just Got An Artificial Boost To Their Credit Score

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How bad could the Health California Act be for real estate?

It might be easier to ask how bad the Healthy California Act could be for everything. We will take some time today to talk about the act, its costs and how much that would mean in terms of additional taxes for Californians.

We will try to measure the impact by the increasing number of people who would rather leave the state and how this additional tax would potentially make it impossible for most families to keep paying the rent or mortgage that they can currently afford.

There is also some news on defaults which we will take a look at.

Todays articles:

• US Consumers Tap Out: Credit Card Defaults Surge To 4 Year High And It's Getting Worse
• Is It Time To Sell Real Estate?
• Housing, traffic woes stoke urge to flee Bay Area, new poll shows
• California Pushes Forward $400 Billion Universal Health Care Bill
• $142,448.33: What You Need to Earn to Buy ‘Median’ Home in Bay Area
• Average Cost Of Health Insurance (2016)

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We look at some data that sure does seem to spell recession

Today we look at some numbers that sure seem to show we are in a recession. Plus, we add a few more data points to the list of things we have been worrying about. Including an update on pension liabilities, sub-prime lending, some big layoffs and all the other scary things that each could be the starting point of a big downturn.

Todays articles:

• How Is This Not A Recession? Ford To Slash 10% Of Global Workforce
• Sub-Prime 2.0: What the Big Three's Charts Tell Us About the Coming Crisis
• An Unsolvable Math Problem: Public Pensions Are Underfunded By As Much As $8 Trillion
• Six Terrifying Graphs That Summarize America's Public Pension Crisis

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We actually saw average prices in San Francisco real estate drop for the first time in a very long time. We are also seeing another disconnect between builder confidence and their actions. We will cover that and a bit more on todays show.

Todays Articles:

• Housing 'Recovery' Stumbles As Starts, Permits Plunge In April
• San Francisco Home Prices Turn Negative For First Time Since 2011

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Todays articles:

• Guild Mortgage launches nationwide 1% down mortgage program
• Freddie Mac: Cash-out refinance activity highest since the bust
• NAR: "Existing-Home Sales Slip 2.3 Percent in April"
• Time on Market Hits New Low in April

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Interesting news relating to new home sales today. We saw a HUGE drop in volume in the latest months data. What is also interesting is the other associated data like total inventory of new homes and the average price. Could this be the pivot point in our market?

Articles:

• U.S. new home sales drop 11.4% in April, the most in two years
• New home sales plummet more than 11% in April

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Todays Articles:

• US Household Debt Surpasses 2008 High, Hits Record $12.7 Trillion
• A Wave of Co-Living Apartments Is Coming
• New home sizes continue to shrink

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What most people will stop paying for first just might stun you!

Some interesting numbers about how much debt households are holding these days - it is not good news. Plus, when folks find themselves in financial trouble, you will be amazed to hear what they stop paying first!

Today cover:

• Mortgage volume drops 4.1% in latest week as younger buyers bail out
• TransUnion: Americans will stop paying mortgage before car payment, other loans
• U.S. household debt tops 2008 peak, but this time Americans' finances are better
• NY Fed: "Household Debt Surpasses its Peak Reached During the Recession in 2008"

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