OpinionIndustry News

Real estate’s April report card

Guest perspective: No 'spring' in housing's step this season

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

The economy continues to run at an "average" pace of growth, while the housing market is not experiencing the usual spring improvement. Despite sales that are generally below expectations, almost all housing market indicators exceed their historical averages. The Rising Cost of Oil Because some people have raised concerns that high oil prices will lead to a recession, we did some additional research on oil prices this month. Oil prices have historically been a good leading indicator of economic growth because both businesses and consumers are impacted significantly by oil prices. The recent increase in oil prices is significant, but pales in comparison to oil prices in the early 1980s -- both in terms of current dollars and in terms of the rate of increase. Adjusted for inflation, current crude oil prices still lag those of the early 1980s. In current dollars, crude oil hit at peak of nearly $97 per barrel in April 1980. Economic Growth: C Job growth in March was above expectations,...