Local markets spotlights 5 different areas across the country, showcasing what is uniquely happening in those housing markets. Local real estate agents, loan officers and appraisers share what characteristics are currently defining their housing markets.
San Diego, California
San Diego’s growing economic divisions come through in the city’s housing market. A San Diego Union-Tribune story from this August noted that the city’s unemployment rate hovers around 7%, higher than the national rate of 5.2% at that time, as many leisure and hospitality workers remained sidelined. However, venture capital money is at an all-time high, specifically funding biotech and life science companies. “There’s been a real surge in life sciences and biotech,” said Ross Clark, a Compass agent based in San Diego’s tony La Jolla neighborhood. And that’s created a demand for luxury housing, Clark said, noting that San Diego home prices climbed 20% the past year as neighborhoods gentrify left and right. According to an OJO Labs study, San Diego, whose median home price was $750,000 in September, is more unaffordable to its current residents than Los Angeles.
An agent for 33 years, Anne Hogan Perry sells luxury homes in Honolulu, Maui and Kauai and says that she is enjoying an unprecedented influx of homebuyers who previously lived in New York or Los Angeles for their jobs. “We have started to see work not be so rigid and time specific,” said Perry, who is an agent at Compass. “I sold a home to a hedge fund guy in New York. Now he just gets up at 4, gets done with work at noon and goes to the beach.” The agent said rich “mainland” residents replaced international buyers, who are restricted in their travel amid the pandemic. But overall demand is on the rise. That’s reflected in home prices, where the median Honolulu home sold for $975,000 in the second quarter of 2021, according to the National Association of Realtors, a climb of 20% year-over-year.
The “Queen city of the Ozarks” needs more homes. “While we have lots of new construction, there are lots of delays due to shortage of materials and also construction workers,” said Ethel Curbow, an agent at AMAX real estate. “Also, the cost of materials has prevented a lot of people from custom building.” One issue that comes from this, Curbow said, is that buyers are afraid to pursue their dream home. “People fear if they sell their home, they won’t be able to find something and get into a bidding war.” By the numbers, Springfield is dealing with a similar high-demand, low-inventory quandary as the rest of the country, though with lower prices. The median home price has gone up 17% to $182,000 from August 2020 to August 2021, according to Zillow, while nationally, median home prices climbed 15% to $356,000 in the past year.
Some tourists visit Augusta for the James Brown statue or The Master’s golf tournament, but its economy centers around Fort Gordon, a 60,000-acre terrain that is home of the U.S. Army Cyber Command, and 25,000 employees. The high number of public sector jobs is a bulwark against economic highs and lows, said Matt Kelly, an agent at Blanchard & Calhoun. Augusta home sales this year varied due to events that happen every year such as the start of school leading to fewer sales, Kelly said. Still, Augusta home prices are not immune to national trends. The typical home value in September 2021 is $147,000, according to Zillow, up 20% from August 2020.
“If it plays in Peoria, it will play anywhere” is not true when it comes to home price appreciation. After the second quarter of 2021, the current home price went up in the central Illinois city by .2% to $129,000, according to NAR numbers. Nationally, home prices climbed 22% in the same time period. Peoria was hit hard by the departure of the Caterpillar machinery plant in 2017, but its August 2021 unemployment rate of 6.1% was higher, but not wildly higher, than the 4.8% national unemployment rate. Peoria’s affordability partly comes from a lack of outside demand. As the overall U.S. population increased 7.4% from 2010 to 2020, Peoria’s population dropped 2.5% to 182,000 residents.
This article was first featured in the Dec/Jan HousingWire Magazine issue. To read the full issue, go here.
The post A closer look at housing markets across the country appeared first on HousingWire.unemployment pandemic home sales real estate housing market army unemployment
Dr. Peter McCullough: Official COVID “Narrative Has Crumbled”
Dr. Peter McCullough: Official COVID "Narrative Has Crumbled"
Authored by Art Moore via WND.com,
Dr. Peter McCullough – a renowned cardiologist and highly published medical scientist whose confrontation of the government’s COVID-19 policies.
Dr. Peter McCullough – a renowned cardiologist and highly published medical scientist whose confrontation of the government's COVID-19 policies has drawn more than 40 million views on Joe Rogan's podcast – told WND in a video interview Thursday night the official pandemic narrative that has been fiercely guarded by establishment media and social-media censors is "completely crumbling."
That narrative, he said, included "false statements regarding asymptomatic spread, reliance on lockdown and masks – which obviously didn't work – the suppression of early treatment, the mass promotion of vaccines that failed."
"And now here we are, almost in complete free fall," McCullough said, referring to the record number of COVID-19 cases as officials acknowledge the vaccines don't prevent infection or transmission.
McCullough noted that in California, with the more contagious but much milder omicron variant now dominant, health care workers who tested positive for COVID-19 and had symptoms were told to go back to work.
"With that, I think that's it. I think that's the end. The narrative has crumbled. People don't want these vaccines," McCullough said.
"The vaccines should be pulled off the market. They clearly are not solving the problem."
The focus, he said, should be on "treating high-risk patients who develop symptoms" with some of the early treatments that he and other physicians around the world have found to be effective, including ivermectin and a new drug granted emergency use authorization by the FDA, Paxlovid.
"That's not misinformation," he said. "I'm just quoting the data. All of this can be looked up. Fact-checkers can look at it. I know I'll never have any problems with allegations of misinformation, because I just quote the data."
President Biden clearly had McCullough in mind when on Thursday he urged social media companies and media outlets to "please deal with the misinformation and disinformation that's on your shows. It has to stop."
McCullough pointed out his work has been relied upon by courts across the nation, including the U.S. Supreme Court, and he has testified to the U.S. Senate and will be back there later this month.
"I think America knows who is giving them the straight story."
In the half-hour video interview with WND (embedded below), McCullough also discussed:
The punishment of physicians who counter the official COVID narrative and use clinically indicated, FDA-approved drugs off-label such as ivermectin to treat COVID-19 patients, including a colleague in Maine whose was ordered to undergo a psychological examination after her license was suspended;
His participation in a rally in Washington, D.C., on Jan. 23 protesting vaccine mandates;
The Supreme Court's rulings Thursday on vaccine mandates;
The possibility that omicron could spell the end of the pandemic, serving as a "universal booster";
Data showing that vaccination has backfired, making the pandemic worse in nations with high vaccine intake;
The lethality of the mRNA vaccines;
His view on Biden's mass testing program;
His take on new FDA-approved treatments and his simple, inexpensive, over-the-counter protocol for treating omicron;
The unwillingness of so many doctors to "come off the sidelines" and treat patients for COVID-19;
The "crisis of competence" among top government health officials;
Where to find resources and support for physicians and patients, and for employees confronting mandates.
"I think Americans are going to understand that their individual choice is really what's going to matter in the end," he McCullough told WND in conclusion. "If Americans decide that they're not going to take any boosters or any more vaccines, it doesn't matter how many mandates or how many court decisions that happen. The vaccine program is going to crumble. I think it's just a matter of saying no."
He emphasized that the vaccines are still "research."
"No one can be forced into it," he said of vaccination. "And they're not turning out to be safe or effective. So, if everybody just stands firm and declines the vaccines, I think that will be the quickest way for us to get out of this."
See the WND interview with Dr. Peter McCullough:
McCullough, in a video interview with WND in December, called for a "pivot" from the current policies to early treatment and "compassionate care" for those who have COVID or have suffered vaccine injuries, which have included myocarditis, neurological issues and blood clotting.
"Now is the time for doctors to step up. Now is not a time for rhetoric or harsh statements regarding scientific discourse," he said.
Many of McCullough's 600 peer-reviewed publications have appeared in top-tier journals such as the New England Journal of Medicine, Journal of the American Medical Association and The Lancet. He testified to the U.S. Senate in November 2020 against what he described as the federal government's politicization of health care during the pandemic, curbing or blocking the availability of cheap, effective treatments. In a speech in September, he told of having been stripped of the editorship of a Swiss-based journal after having lost his position with a major health system, "with no explanation and no due process." Baylor University Medical Center fired him in February. And Texas A&M College of Medicine, Texas Christian University and University of North Texas Health Science Center School of Medicine have cut ties with McCullough, accusing him of spreading misinformation.
"I've been stripped of every title that I've ever had in that institution. I've received a threat letter from the American College of Physicians, [and] a threat letter from the American Board," he said in September.
All because of his "lawful" participation "in a topic of public importance."
He said there are "powerful forces at work, far more powerful than we can possibly think of, that are influencing anybody who is in a position of authority."
McCullough is the chief medical adviser for the Truth for Health Foundation, a physician-founded charity that says it is "dedicated to following the Oath of Hippocrates to serve individual patients to the best of our ability and judgement and to uphold the highest standards of medical ethics."
* * *
Last year, America's doctors, nurses and paramedics were celebrated as frontline heroes battling a fearsome new pandemic. Today, under Joe Biden, tens of thousands of these same heroes are denounced as rebels, conspiracy theorists, extremists and potential terrorists. Along with massive numbers of police, firemen, Border Patrol agents, Navy SEALs, pilots, air-traffic controllers, and countless other truly essential Americans, they're all considered so dangerous as to merit termination, their professional and personal lives turned upside down due to their decision not to be injected with the experimental COVID vaccines. Biden’s tyrannical mandate threatens to cripple American society – from law enforcement to airlines to commercial supply chains to hospitals. It's already happening. But the good news is that huge numbers of "yesterday’s heroes" are now fighting back – bravely and boldly. The whole epic showdown is laid out as never before in the sensational October issue of WND's monthly Whistleblower magazine, titled "THE GREAT AMERICAN REBELLION: 'We will not comply!' COVID-19 power grab ignites bold new era of national defiance."
Graphite Outlook 2022: Demand from Battery Segment to Remain High
Click here to read the previous graphite outlook. Graphite is an essential raw material used in electric vehicle (EV) batteries, and as sales of EVs grow, market watchers believe demand for the metal will surge. Despite discussions about battery chemistry
Click here to read the previous graphite outlook.
Graphite is an essential raw material used in electric vehicle (EV) batteries, and as sales of EVs grow, market watchers believe demand for the metal will surge.
Despite discussions about battery chemistry changes, many experts think graphite will remain a dominant element in EV batteries for at least the next decade. Both synthetic graphite and natural graphite, in the form of the intermediate product spherical graphite, are used in the anodes of lithium-ion batteries.
Here the Investing News Network (INN) looks at the key trends in the graphite market in 2021 and what the graphite outlook is for 2022.
Graphite trends 2021: Shipping and power cost challenges
After a tumultuous 2020 in which supply chains were put to the test as economies shut down due to the coronavirus pandemic, graphite kicked off 2021 on a bright note.
In early 2021, prices for natural flake graphite were slightly higher than expected as a result of unexpectedly strict environmental investigations and closures in China, Suzanne Shaw of Wood Mackenzie told INN back in July.
“There was also considerable shipping disruption early on in the year with containers and vessels not where they should be as routes reopened post-COVID,” she said. “Limited availability was prioritized for higher-value cargos, with lower-value raw materials flows disrupted. This situation subsided through Q2.”
Pricing was relatively flat during the first six months of 2021, according to Benchmark Mineral Intelligence data.
“Prices for +100 mesh flake concentrate, across all purities, have moved upward by around 5 to 10 percent year-to-date, while pricing for all other grades has moved less than 5 percent so far this year due to continued structural oversupply in the graphite market,” Miller told INN at the end of H1. “Moreover, the global shipping situation at the moment is hindering upward price pressure.”
Prices took a turn in August, jumping on the back of the energy crisis, which hit producers and disrupted output. Battery grades were particularly hit by rising power costs as both the manufacture of synthetic graphite and the processing of spherical graphite from natural flake are known for their high levels of energy consumption.
In terms of supply, Chinese production was expected to ramp up to meet rising domestic battery demand, as there is still a lot of overcapacity in China.
“However, the overall trend is that China is showing less appetite on the raw material side and investing in higher-value downstream industries rather than exploration/mining across most mineral sectors,” Shaw said at the end of H1. “It will continue to increase its own imports of flake graphite.”
Meanwhile, on the synthetic graphite front, the market could be driven into a deficit as a result of increasing demand from the lithium-ion battery and downstream EV sectors worldwide, Roskill, which was acquired by Wood Mackenzie, reported back in August.
“From a performance perspective, EV automakers prefer synthetic graphite, citing its superior fast charge turnaround and battery longevity,” a November Fastmarkets report reads. “Synthetic graphite, however, is costly, power intensive and environmentally unfriendly, with supply centered in China at odds with North American and European automakers’ desire for more localized supply.”
Graphite outlook 2022: What’s ahead
At the end of last year, analysts were expecting demand from the battery segment to continue to grow on the back of increased EV sales, with growth opportunities for both synthetic and natural graphite.
According to Benchmark Mineral Intelligence data, demand for natural graphite from the battery segment amounted to 400,000 tonnes in 2021, with that number expected to scale up to 3 million tonnes by 2030. Meanwhile, demand for synthetic graphite reached about 300,000 tonnes in 2021 and it’s expected to increase to 1.5 million tonnes by 2030.
“We do expect recycling to plug some of these gaps, but this isn't really likely to reach the necessary scale until post 2030,” Miller said in a December webinar. “So at the moment, the focus is really on synthesizing and mining this material as quickly as possible to meet the demand that we might see into the future.”
By volume, graphite is one of the most important elements in any electric vehicle battery ― there is between 50 and 100 kilograms of graphite, whether synthetic or natural, present within each vehicle.
“We can really see the sector growing progressively to around 15 times the demand we see today by 2030, outpacing moderate growth and demand from industrial applications,” Miller said.
That said, it's important to note that only certain types of natural graphite supply are relevant to and able to be qualified for the lithium-ion supply chain.
“This is really the biggest challenge in using natural graphite as a battery input,” Miller said. “This has the potential to exclude further capacity from projects in development.”
The expert explained that if all planned supply reached the market, it would have the potential to balance out demand up to 2029 to 2030, but with these limitations on which material can be qualified, the story takes a different direction.
“The primary limitation here is the mesh size inputs for the battery supply chain must be fine to medium flake,” Miller said, adding that consistency and high purity, somewhere around 94 to 95 percent carbon, is also key. “Flake graphite for the lithium ion supply chain must have low levels of impurity in order to avoid compromising the quality and longevity of the end product.”
According to Benchmark Mineral Intelligence, today, synthetic graphite anodes make up the majority of market share and approximately 57 percent of the anode market.
“Going forward, we do expect this to shift in the direction of natural graphite anodes to around a 50-50 balance for a multitude of reasons,” Miller said. His reasons include tight graphitization capacity, higher costs for synthetic graphite anode material and also the environmental shortcomings of the synthetic graphite supply chain at the moment.
Graphitization is the process of producing synthetic graphite from carbon-rich, oil-derived feedstock raw materials, and this process is energy intensive.
“In China, graphitization capacity has been mainly located in Inner Mongolia, a province which has some of the lowest energy costs in the country and where other high-energy metal producers, such as ferro-chrome smelters, are based,” Fastmarket reports. “But Inner Mongolia was the first in the firing line when the 2021 energy crisis unfolded.”
This resulted in reduced production and unpredictable cost increases for synthetic graphite, and the reason why many battery manufacturers in China could turn to natural graphite instead.
Looking ahead at how overall demand for graphite will perform, Benchmark Mineral Intelligence expects the battery segment to challenge industrial applications as the leading end-market for graphite demand. Over the next decade, anode demand will grow at an average of 27 percent compound annual growth rate (CAGR).
“Unlike some of the other critical mineral markets, there is still time for both the natural and synthetic graphite market deficits to be redressed — so long as adequate funding is provided for junior miners in the near term,” Miller said.
Commenting on price performance, Fastmarkets maintains the view that both flake and spherical graphite prices will trend stable to higher in the near term.
“The only potential reprieve we see for graphite prices would be if the power constraints diminish EV lithium-ion battery production, and in turn reduce demand for graphite anodes sufficiently to stem the upward pressure on graphite prices,” analysts said.
Another key trend for graphite investors to watch in the new year is how western automakers keep up with China, which has become the dominant player in all steps of the anode supply chain.
The ASX-listed company will process graphite from its Balama mine in Mozambique in its Louisiana plant, and will supply the EV maker with anode graphite material for an initial four year period. Tesla also has an option to offtake additional volume subject to Syrah expanding its capacity beyond 10,000 tonnes per year.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.nasdaq pandemic coronavirus oil european china
Zinc Outlook 2022: Small Refined Zinc Deficit Ahead
Click here to read the previous zinc outlook. Following an uncertain 2020, zinc prices steadily rose throughout 2021 to hit a 14 year high in the second half of the year.The power crisis and an increasing demand for the base metal as the strict lockdown..
Click here to read the previous zinc outlook.
Following an uncertain 2020, zinc prices steadily rose throughout 2021 to hit a 14 year high in the second half of the year.
The power crisis and an increasing demand for the base metal as the strict lockdown restrictions were lifted supported prices during the 12 month period.
As the new year begins, the Investing News Network (INN) caught up with analysts to find out what’s ahead for zinc supply, demand and prices.
Zinc outlook 2022: 2021 in review
Prices kicked off the year above the US$2,800 per tonne mark after rallying for most of the second half of 2020. The recovery in the steel sector helped the base metal throughout the first half of 2021 as COVID-19 lockdown measures eased, supporting demand for zinc.
Commenting on the main trends seen in the market in 2021, Helen O’Cleary of CRU Group told INN zinc’s demand recovery was stronger than expected in the US and Europe but lagged in Asia excluding China.
In October, zinc prices hit their highest level in 14 years, hovering around the US$3,800 mark on the back of the power crisis and cost associated with carbon emissions.
“Zinc’s price outperformed expectations in 2021 on the back of strong demand and smelter disruption, particularly in Q4 when European smelters started to cut back due to record high energy prices,” O’Cleary said.
One of the world’s top zinc smelters, Nyrstar (EBR:NYR), said in October it was planning to cut production at its European smelter operations. Mining giant Glencore (LSE:GLEN) also said it was adjusting production to reduce exposure to peak power pricing periods during the day.
Speaking with INN about zinc’s performance, Carlos Sanchez of CPM Group said zinc has been in recovery since prices bottomed out in 2020, helped in part by vaccination globally and also by supply disruptions around the world.
“The most recent issue is the concern about high energy input costs into smelters in Europe — that's been pushing prices higher recently,” he said.
Even though prices could not sustain that level until the end of the year, prices remained above US$3,500 on the last trading day of 2021.
Zinc outlook 2022: Supply and demand
As mentioned, demand for base metals saw an upward turn in 2021 as the world economy recovered on the back of stimulus plans and as vaccination rollouts took place in many parts of the world.
Looking at what’s ahead for demand in 2022, CRU is expecting Chinese demand growth to slow to 1.1 percent year-on-year as the effects of stimulus wane.
“In the world ex. China we expect demand to grow by 2.4 percent, with the ongoing auto sector recovery partially offsetting the construction sector slowdown in Europe and the US,” O’Cleary said.
CPM is also expecting demand to remain healthy in 2022, both in China and outside of China, including demand from developing countries.
“One thing that remains uncertain is what will happen with COVID,” Sanchez said.
Moving onto the supply side of the picture, the analyst expects that if everything remains status quo, disruptions are unlikely to happen.
“There are going to be some blips here and there, but there have been some labor issues in Peru, yes, there's been some energy problems in Europe and China, but that's a fact in zinc output and in demand to an extent,” Sanchez said. “But really the catalysts that we don't know, and how it can affect prices is how COVID will impact industries.”
For her part, O’Cleary is expecting most disruptions in Q1, with CRU currently having a disruption allowance of 55,000 tonnes for that period.
“But this may well tip over into Q2,” she said. CRU is expecting mine supply to grow by 5.10 percent year-on-year in 2022 and for the concentrates market to register a 190,000 tonnes surplus.
Meanwhile, smelter output is forecast to grow by less than 1 percent year-on-year in 2022, according to the firm, which is currently forecasting a small refined zinc deficit in 2022.
“Should smelter disruption exceed our 55,000 t allowance the deficit could grow,” O’Cleary said. “But high prices and a tight Chinese market could lead to further releases of refined zinc from the State Reserves Bureau stockpile, which could push the market towards balance or even a small surplus.”
Similarly, CPM Group is also expecting the market to shift into a deficit in 2022.
“That's due to the strong demand, recovering economies of COVID and its financial economic effects,” Sanchez said.
Zinc outlook 2022: What’s ahead
Commenting on how prices might perform next year, O’Cleary said prices are likely to remain high in Q1 due to the threat of further energy-related cutbacks in Europe during the winter heating season.
O’Cleary suggested investors to keep an eye on high prices and inflation, as these factors could hamper zinc demand growth.
Similarly, CPM Group is expecting prices to remain above current levels and to average around US$3,400 for the year.
“I wouldn't be surprised to see zinc top US$4,000,” Sanchez said. “But at the same time, I don't think it holds above there; you'd have to have really strong fundamentals for that to happen, stronger than what's happening now.”
The CPM director suggested zinc investors should keep an eye on COVID developments and be quick movers, taking a position whether it's short or long.
Looking ahead, for FocusEconomics analysts, prices for zinc are seen cooling markedly next year before falling further in 2023, as output gradually improves and new mines come online.
“Moreover, fading logistical disruptions and easing energy prices will exert additional downward pressure, although solid demand for steel will continue to support prices,” they said in their December report, adding that pandemic-related uncertainty clouds the outlook.
Panelists recently polled by the firm see prices averaging US$2,827 per metric tonne in Q4 2022 and US$2,651 per metric tonne in Q4 2023.
Don’t forget to follow us @INN_Resource for real-time news updates.
Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.stimulus pandemic covid-19 lockdown recovery stimulus european europe china
Europe’s Spendthrifts Are Stuck In Irreversible Debt-Traps
Utah’s Largest Newspaper Calls For Unvaxxed To Endure Draconian Lockdowns Enforced By National Guard
Hot Penny Stocks to Add to Your Small Caps Watchlist Now
After 28 Days On Ventilator, Family Loses Legal Battle To Try Ivermectin, Other Alternative Treatments, For Dying Father
“We Are Going To Take Back America”: Trump Holds First Rally Of 2022 In Arizona
U.S. households can order 4 free COVID-19 tests starting Jan. 19 – White House
States Investigating Surge In Mortality Rate Among 18–49-Year-Olds, Majority Unrelated To COVID-19
Zinc Outlook 2022: Small Refined Zinc Deficit Ahead
Check These 3 Penny Stocks Out For Next Week’s Watchlist
Labor Shortage And Surging Shipping Costs Are Biggest Drivers Of US Food Inflation
Commodities23 hours ago
Oil up as investors expect tighter output
International19 hours ago
Parallel Trade 2022
Spread & Containment6 hours ago
Zinc Outlook 2022: Small Refined Zinc Deficit Ahead
Commodities5 hours ago
Luongo: We Are All Djokovic, Now!
Spread & Containment17 hours ago
McDonald’s To Slash Hours By 10% Due To Labor Shortage
Spread & Containment11 hours ago
Pfizer Chief Predicts Pandemic’s End while Surgeon General Warns of Tough Days Ahead
Bonds17 hours ago
US Futures, European Markets Rise After China’s First Rate Cut In 2 Years
Government14 hours ago
Poll Finds Close To Half Of Democratic Voters Want COVID Internment Camps For The Unvaxx’d