market update5 2012

5-2012 Market UpdateWhat’s UP/Down with Housing and Lending?

(c) KendallTodd, Inc. - 2012www.kendalltodd.com

(c) KendallTodd, Inc. - 20122

Key Takeaways1) US Economy: Continues to slow, as do corporate earnings.2) Jobs: Continue to improve (positive).3) Savings: Dropping – 3.7% last month (negative).4) Inventory: Dropping again (positive).5) Valuation: Still declining (negative).6) Future: Bottom is forming, but weak, will take most of 2012.7) Local: Some markets better than others, population growth critical.8) Recovery: Washington working to stimulate housing, economy.9) Overall: Again, positive base… going to take time.

Where Are We Now?

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

Market UPdate

General Market

Street Level

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

Market UPdate

General Market

Street Level

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 2012

(c) KendallTodd, Inc. - 201239

Key Takeaways1) US Economy: Continues to slow, as do corporate earnings.2) Jobs: Continue to improve (positive).3) Savings: Dropping – 3.7% last month (negative).4) Inventory: Dropping again (positive).5) Valuation: Still declining (negative).6) Future: Bottom is forming, but weak, will take most of 2012.7) Local: Some markets better than others, population growth critical.8) Recovery: Washington working to stimulate housing, economy.9) Overall: Again, positive base… going to take time.