As we begin 2023 (and I am still bummed-out over Ohio State University losing a nail-bitter to Georgia in the Peach Bowl), we need to look at the condition of one of the most important sectors of the US economy.\, housing.
If we look at the US Housing Leading Growth index (courtesy of RecessionAlert.com) has slumped to its worst reading since the recessions of 1982 and 2008.
And then we have the OCED leading indicators for the US falling as M2 Money growth slows.
My favorite chart shows US home price growth falling faster than University of Michigan football team’s national championship home hopes.
Will this prompt The Federal Reserve to pivot? Only time will tell.
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