The numbers keep getting worse.
The University of Michigan Consumer Survey showed a decline in May to 58.4 (100 is baseline). Soaring inflation is a likely culprit.
But the truly horrible survey result is the UMich Buying Conditions for Houses, plunging to 45. The reason? Crazy, expensive house prices courtesy of The Federal Reserve and rising mortgages (also, courtesy of The Federal Reserve).
The buying conditions for houses is now the lowest in the history of the University of Michigan consumer survey. In fact, consumer sentiment for housing is far lower than during the awful housing bubble burst of 2008 and the subsequent financial crisis.
Here is Fed Chair Jerome Powell wielding his monetary bat called “Lucille.”
- Biden Tells NATO That the US Supreme Court is Destabilizing the World
- Rationing Has Already Started In Europe As The Entire Globe Plunges Into A Horrific Economic Nightmare
- Liz Cheney is gonna get smoked by this woman…
- Democrats don’t want to hear it, but this needed to happen…
- Are You Willing To Suffer Through A Recession For The Good Of “The Liberal World Order”?
- Black Privilege is Real in America
- A Quick Word on EVs and Oil Prices
- Zelensky Orders NATO to Pay $5 Billion a Month to Cover Costs of Pretending There’s a Chance to Win
- ‘Highly comical but sinister’ London LGBTQ+ flag display
- American Hypersonic Missile Test Fails Miserably