Nov. New Home Sales: 377K vs. 375K expected, 368K prior.
Dec 27 2012, 10:01 ET
Nov. New Home Sales:
vs. 375K expected, 368K prior.
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Houses are an asset too. If QE has pushed up stocks, why wouldn't we expect a knock-on effect in housing? The US is probably just about as bad as China with real estate speculation now. I wonder if there is any data on this.
Housing-led recovery indeed. Ben prints money, it filters into buying houses, construction goes up, creating jobs... no, this can't end badly at all.
27 Dec 2012, 04:23 PM
There are a number of important differences between the Bush-era housing bubble and today. 1) Today, housing sector debt is falling. Households are still de-leveraging. 2) Cash flows from rent didn't justify the prices of the Bush-era housing market. Today, cash flows from rent more than justify housing prices.
28 Dec 2012, 03:04 AM
Your right on Seth, you think there was a housing bubble, credit bubble and market bubble before they printed trillions to make it all look good again!
What happens when we shut off the presses and the banks have to unload the foreclosures and the money comes out of the market.
27 Dec 2012, 04:25 PM
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