Meet Me At The Bottom … of the housing market?
As The Federal Reserve fights inflation (caused by too much Fed stimulus for too long) and Federal energy policies, we are seeing mortgage rates rising and the housing market decaying.
1-unit (single family detached) housing starts dropped -18.5% YoY in July as mortgage rates rose in 2022. Note the impact of the Covid stimulus (green line) and the resulting surge in housing starts in April 2021, but housing starts have decayed as M2 Money growth slows.
5+ unit (apartment) starts were down -10% MoM in July, but at least permits for apartments rose +2.51% MoM.
Well, we at least know why the NAHB Homebuilder index sucked wind so badly yesterday.
Perhaps the housing market needs a little spoonful of QE.
- Ellen Brown: The Looming Quadrillion Dollar Derivatives Tsunami
- Janet Yellen Just Poured Lighter Fluid On Every Small Bank In America
- The Great Financial Collapse of 2023. Comparison of Bear Stearns’ collapse in March 2008 and Credit Suisse in March 2023.
- Ron DeSantis unveils legislation to BAN Central Bank Digital Currency in Florida, protecting citizens from a grave threat to civil liberties…
- Never in history have we had all three issues happening at once…
- Clearwater Mayor abruptly resigns… Council members left in stunned silence
- Sperm has been almost entirely replaced by spike proteins
- People are crashing…
- Armstrong: WOKE Culture is Destroying the Economy & our Nation
- 2023: A Year When Everything Is Suddenly Breaking Loose All At Once
Views: 81