Another Indicator Bites The Dust
The good news? US GDP rose 3.5% QoQ, even though Personal Consumption was lower than expected at 3.6% and lower than September’s growth.
The bad news? New home sales fell 8.9% MoM in October.
New home sales declined 12% YoY, tied for the worst reading since 2011.
Yes, as The Fed withdraws monetary stimulus, home building companies are taking the Nestea plunge.
Another housing indicator bites the dust.
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The local real estate hens continue to listum high because, you know, if you don’t get in the game now, you will missout on the boom ! i THINK i HEARD THAT BEFORE,
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Yep, one of their favorite pitches this year has been ‘buy now before rates go higher’… while ignoring the fact that higher rates chill house prices.
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