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Succinct Summations of Week’s Events (May 24 2013)

May 24th, 2013
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Succinct Summations for the week ending May 24. Very light data week despite all the noise. Positives:

IEA warns Germany on soaring green dream costs

May 24th, 2013
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Germany's push for wind and solar and its retreat from nuclear power is driving electricity costs to untenable levels and destroying support for the green agenda, the International Energy Agency (IEA) has warned.

Lawler: Vegas Housing Market: “Sizzlin’ Hot,” and Yet So Cold

May 24th, 2013
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From housing economist Tom Lawler: Dataquick released its April report on Las Vegas home sales based on property records in Clark County, Nevada, and the report portrayed “mixed” news on the health of the Vegas housing market. Here are some summary stats on home sales and median prices, as well as various shares of sales in the report.

Update: The Two Bottoms for Housing

May 24th, 2013
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By request, I've updated the graphs in this post with the most recent data. Last year when I wrote The Housing Bottom is Here and Housing: The Two Bottoms, I pointed out there are usually two bottoms for housing: the first for new home sales, housing starts and residential investment, and the second bottom is for house prices.

A So-So Week for Earnings

May 24th, 2013
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Even though earnings season unofficially ended last week with Wal-Mart's (WMT) report, there were still plenty of key reports this week.  In the S&P 500 alone, 25 companies (5%) reported.

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