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Friday, February 08, 2013

Currently, Rail


This is through Feb 2nd. Intermodal is quite strong - +5.3% accumulated YoY. However auto shipments are down 2.2% accumulated. This bears watching.

Comments:
Interesting. Don't know what to make of farm products--there's so many one-off effects.

Ores, coal, scrap all down significantly. That correlates to manufacturing. Petroleum up, but that's probably just new oilfields with no pipeline service yet. Lumber and aggregates are up solidly, though. What's that about?


 
Neil - building!
 

Building what? Commercial units? Or has housing recovered that much?

 
Housing. Those figures were well up last year, and the Sandy chaos is certain to keep them up this year.

There is also remodeling, both by owner-occupiers and by investors.

Commercial construction has slowed. Housing is well through the five year turn.

Yes, it's at very low levels, but it is increasing and should continue to increase.
 
OT: http://www.desdemonadespair.net/2013/02/the-myth-of-american-saudi-america.html
 
IMHO this is a dead-cat bounce for real estate, supported entirely by rock-bottom rates, severely restricted inventory and yield-starved investors.

Yep, this is only a pause on the way down.
 
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