New Deal Demoncrat - leading indicators negative for second straight quarter. Quote:
There are two long leading indicators in the GDP report: real private residential investement and corporate profits. Since the latter is not released until the second or third revision, the less leading proxy of proprietors' income serves as a placeholder.Yes, and that's especially bad if the housing cycle is the economic cycle.
Real private residential investment declined at a -6.0% annual rate, following a revised -7.8% annual rate for Q2 (blue in the graph below). That's even worse when you take into account that the best measure is housing investment as a share of GDP (red). Since housing investment declined and GDP rose, that's an even bigger hit.
Yeah seriously, he's been wharrgarbling about Trump for a while, but now with actual data backing him up he's got my attention.
New Deal Demoncrat - weekly indicators: mortgage rates turn negative. And just imagine how worse it'll be with a new Fed chair hell-bent on raising rates by a couple percent because of all the hyperinflation we've been having.
New Deal Demoncrat - real cost of renting versus home ownership. I guess what the working class is supposed to do is go back to living 6 to a room, like in the age of Dickens.