– by New Deal democrat The Bonddad Blog The bifurcation of the new vs. existing home markets continued in March, per the report on existing home sales and prices yesterday. Remember that, unlike existing homeowners, house builders can vary square footage, amenities, lot sizes, and offer price and/or mortgage incentives to counteract the effect of […]
Liking your present situation right now? Your job, your house, your car, you can keep it and you may have to do so. Buying a new car, house, or getting a different job may be more costly and not pay off. Even if you are not so satisfied, chances maybe you having to manage your […]
– by New Deal democrat The Bonddad Blog Yesterday I wrote of how Fed rate hikes had not translated into a decline in the amount of housing under construction, and without that I did not see how a recession could occur. And in reaction to January’s housing construction report I concluded, “To signify a likely […]
Repeat sales house price indexes continue to increases on par with past expansions – by New Deal democrat House prices lag home sales, which in turn lag mortgage rates. Yesterday we got the final January reading on sales. This morning, we got the final monthly (for December) read on prices, for repeat sales of existing […]
Housing construction essentially stable in January – by New Deal democrat I’m on the road, so I need to keep this brief, but fortunately I can give you the essence of this most important housing report with little difficulty. Mortgage rates have declined about 1% from their peak during the autumn, and are about equal to […]
January 2024 consumer inflation: still a tug of war between gas and housing – by New Deal democrat As it has been for going on two years, consumer inflation has boiled down to a contest of strength between energy (mainly gasoline), which peaked in June 2022 and roughed in June 2023, and housing, which peaked […]
CNN Tells Us, Young People can’t Afford Homes Even Though more Young People have Homes now than when Trump was in the White House, CEPR, Dean Baker Major media outlets continually push the theme that young people can’t buy homes even though a larger share of households headed by someone under age 35 own homes […]
Housing construction changes little in December; but increased mortgage rates from H2 2023 have not yet been digested – by New Deal democrat For this post, I’m going to show what the housing market looks like from most to least leading of the indicators. That shows that, although this morning’s release for housing permits and […]
More economic news an d this time new single family housing. Completing the housing market picture for November, sales decline bigly, and prices remain down YoY – by New Deal democrat Our final important pre-year end release was also the final item of housing data for the month, new home sales. To reiterate, the […]
Housing under construction continues to levitate – by New Deal democrat Although they aren’t the most leading of housing metrics, because of supply-chain issues during the pandemic, housing units under construction has been the most important one, because they represent the actual economic activity of construction. With the exception of 2001, which was an investment-led […]