Editorials & Other Articles

Purveyor

(29,876 posts) Tue Jul 26, 2016, 05:31 PM Jul 2016

The Latest Housing Data Is Bad News for People Predicting Recession

While some think a recession could be looming for the U.S., fresh housing data says the opposite.

Purchases of new U.S. single-family homes just hit their highest level in more than eight years, representing what Wall Street is calling a strong market.

"Today's report confirms the considerable strength in the housing market over the past few months," Rob Martin, an economist at Barclays Plc, said in a note. "We expect housing to continue to firm, on average, over the medium term, with a buoyant household sector supporting both prices and volumes."

George Pearkes, a strategist at Bespoke Investment Group, also pointed out an encouraging trend for the housing market. He said the data is the exact opposite of what would be expected leading up to an economic downturn. Note in the chart that before every recession for the last several decades, new home sales were either flat or in decline. This time they're heading in the exact opposite direction.

more...

http://www.bloomberg.com/news/articles/2016-07-26/the-latest-housing-data-is-bad-news-for-people-predicting-recession

3 replies

= new reply since forum marked as read

Highlight:

The Latest Housing Data Is Bad News for People Predicting Recession (Original Post) Purveyor Jul 2016 OP

Sold my house safeinOhio Jul 2016 #1

Message auto-removed Name removed Jul 2016 #2

Bush III Yo_Mama_Been_Loggin Jul 2018 #3

safeinOhio

(38,060 posts)

1. Sold my house

Reply to Purveyor (Original post)

Tue Jul 26, 2016, 05:37 PM

Jul 2016

The first day I listed it and had the cash 28 days later.

Response to Purveyor (Original post)

Name removed Message auto-removed

Yo_Mama_Been_Loggin

(137,518 posts)

3. Bush III

Reply to Purveyor (Original post)

Thu Jul 26, 2018, 02:07 PM

Jul 2018

Reply to this discussion

Kick in to the DU tip jar?

This week we're running a special pop-up mini fund drive. From Monday through Friday we're going ad-free for all registered members, and we're asking you to kick in to the DU tip jar to support the site and keep us financially healthy.

As a bonus, making a contribution will allow you to leave kudos for another DU member, and at the end of the week we'll recognize the DUers who you think make this community great.