by confoundedinterest17
The huge stimulus by the Biden Administration and big development in cash printing has led to market distortions in client demand … together with Covid-related shutdowns.
The primary distortion is US retail gross sales that grew an astounding 9.8% month-over-month in March. This surge is probably going because of the stimulus checks despatched out by The Federal authorities.
Meals costs are up 21% since moneybag Biden was sworn in as President.
Whereas lumber futures costs are up 73% since Biden’s inauguration.
COVID-19 infections and precautions earlier this 12 months shut down lumber mills, making a scarcity in provides, significantly in pressure-treated wooden. However the surge actually occurred after Biden’s inauguration.
Then we’ve got residence rents (from Zumper). Residence rents (2 bed room) are plunging in San Francisco (-23% YoY) and New York Metropolis (-16.30% YoY). Oddly, Cleveland OH has the quickest development in residence rents (+21% YoY) adopted by Durham NC (+20.7 YoY) and Detroit (+19% YoY).
Modifications in residence rents characterize households escaping excessive rents, elevated taxes, and security. Just like the escape from New York … to Cleveland???
In the meantime, buying energy for US customers took one other hit in Q1 2021.
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