Wikinvest Wire

Home prices and the labor market

Thursday, March 04, 2010

Leading into tomorrow's highly anticipated monthly labor report, here's the last in the series of recently updated charts that lay the S&P Case-Shiller Home Price Index up against other economic data, in this case, the year-over-year change to nonfarm payrolls (see here, here, here, and here for the first four in the set).
IMAGE Second derivative-wise, things are really looking up for both housing and jobs, but, despite the promising shape of the curves above, both home prices and payrolls are still lower than they were a year ago with an uncertain near-term future, particularly for payrolls.

Current estimates are for a loss of somewhere between 50,000 and 200,000 jobs in tomorrow's labor report, a number that will have been affected in big way by the record snowfall seen during the month of February on the East Coast.

Actually, there was one more chart in the home prices vs. other data series...

Since being bought by Bank of America just before the wheels fell off the global economy in 2008, Countrywide Financial no longer trades on any stock exchange, but, this final chart can still be updated one last time.
IMAGE What's new with Angelo Mozilo anyway?

According to this report in Reuters today, the SEC is moving forward with their case against him for securities fraud and insider trading having to do with the sale of about $150 million in Countrywide stock. The Orange Man has just hired some high priced help.

It looks like we haven't seen the last of him...

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