We haven’t had such a large Monthly Supply of New Houses in the United States since March 2009, which if you remember was a great time to buy stocks. Oh, wait…

We haven't had such a large Monthly Supply of New Houses in the United States since March 2009, which if you remember was a great time to buy stocks.

Wait.t.co/ak0vv4jwCM pic.twitter.com/rOquqi3OmG

— Rudy Havenstein. A million miles, a million miles. (@RudyHavenstein) September 18, 2022

Yet another “yikes” housing datapoint: September ⁦@NAHBhome⁩ Home Builders Market Index fell to 46 vs. 47 est. & 49 in prior month; sentiment has fallen every month this year, which is longest stretch of declines back to 1985 pic.twitter.com/HobOCrQKa5

— Liz Ann Sonders (@LizAnnSonders) September 19, 2022

Powell’s Famous Chili! National Association of Home Builders Market Index Falls More Than Expected To 46 As Fed Tightens Monetary Noose (Lowest Since 2012, Excluding Covid Crash)