by confoundedinterest17
US present house gross sales for April had been launched this morning and present a month-over-month decline of two.7% from March with 5.85 million items bought SAAR.
Median worth of present houses gross sales rose to 19.1% YoY on staggering Fed stimulus and nonetheless tremendous low stock.
I can image Atlanta Fed President Raphael Bostic screaming “Its financial progress, not inflation!!!”
Actually? It smells like a bubble to me with common hourly earnings at 1.2% YoY.
A reader of my course notes stated “decrease revenue employees don’t purchase homes” implying the present low wage progress is deceptive. Nicely, wage progress is an indicator of labor market well being. And it isn’t so wholesome.
218 views
Source link
