Earlier this week we looked at new home sales and saw a poor performance in April. Even if the calendar was partly to blame due to one less business day in April than usual, it was still weak. It suggests that panic buying earlier this year that was triggered by rising mortgage rates, has finally led to exhaustion of potential demand.
More Charts Reveal The Truth About The State of the US Housing Market
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David Stockman’s Contra Corner isn’t your typical financial tipsheet. Instead it’s an ongoing dialogue about what’s really happening in the markets… the economy… and governments… so you can understand the world around you and make better decisions for yourself.
David believes the world -- certainly the United States -- is at a great inflection point in human history. The massive credit inflation of the last three decades has reached its apogee and is now going to splatter spectacularly.
This will have lasting ramifications on how governments tax and regulate you… the type of work you and your family members will have available and what you get paid… the value of your nest egg… and all other areas comprising your quality of life.