Rapid recovery in U.S. home prices probably negating mortgage-rate tailwind

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Solid improvement in U.S. home prices comes with cost Peak bubble home ownership at 69-percent-plus anomaly not average Price weakness in recent months plus mortgage-rate tailwind unable to seriously ignite sales Leading up to the epic housing bubble in the … Continued

U.S. sales of new homes yet to catch up with ebullient builder sentiment, Part Two

posted in: Credit, Economy | 0

The piece yesterday on U.S. housing was based on June’s numbers.  New-home sales data came out yesterday, and it was anything but encouraging.  Year-over-year, sales (seasonally adjusted annual rate) rose 12.2 percent but fell 2.4 percent month-over-month.  The latter helps … Continued