Public Homebuilders' Sentiment Plummets Jul 18, 2022 1 min read The National Association of Home Builders/Wells Fargo Housing Market Index, a survey designed to gauge market conditions, found builder sentiment dropped 12 points to 55 in July. That marked the largest one-month drop in the survey’s 37-year history with the exception of April 2020, when the reading plummeted 42 points to 30 during the pandemic lockdown. The S&P 500 Homebuilding Index, which is highly correlated with Ed Yardeni
Public The Economic Week Ahead 7/18/22 Jul 17, 2022 1 min read The week ahead is a light one for economic indicators. Monday starts out with May's Treasury International Capital System data on net capital inflows into the US. April's data showed a near-record $1.5 trillion in private net capital inflows, which certainly explains why the dollar has been so strong. This is consistent with our TINAC theme, that "there is no alternative country" to Ed Yardeni
Paid Mortgage Applications Falling, Consumer Credit Balances Rising Jun 8, 2022 1 min read paid The housing market may be falling into a recession, but consumers continue to spend—though they have needed to borrow more to do so. The seasonally adjusted purchase Index for mortgage applications, compiled by the Mortgage Bankers Association, decreased 7% w/w and 21% y/y during the week ended June 3. Record-high home prices combined with this year’s spike in the mortgage rate to 5.40% have clobbered Ed Yardeni
Public Homebuilders Slammed As Sales Fall, Costs Soar May 24, 2022 1 min read There's lots of stagflation in the new home market. During April, new home sales (registered when contracts are signed) dropped 16.6% m/m and the months' supply of new homes jumped to 9.0 from 6.9 in March. Here's more: (1) The m/m sales declines were widespread in the South (-19.8%), Midwest (-15.1), West (-13.8), and Northeast (-5.9) Ed Yardeni
