Case Shiller Home Price Index The annual price change for houses from Oct 2022 to Oct 2023 is 4.8%. Though the monthly price increases are slowing, the annual inflation rate will continue to rise because of the disinflation at the end of 2022. The max benefit of falling prices was Jan 2023, so expect the annual inflation rate for house [...]
What would you think if I told you the price of an existing house and a new house in this country were negatively correlated? (Case/Shiller HPI only measures resale). That sounds impossible and I would argue to my grave that it is certainly impossible over the long term. But... What happens when your house appreciates significantly in a short [...]
Housing prices were coming down this time last year. But, despite mortgage rates at their highest levels since 2000, housing prices are again appreciating and reached an all-time high in August. Summary Conclusions: Housing Affordability lowest since the early 80's, surpassing 2006. Prices at an all-time high and rising. Housing sales volume approaching the lowest of the last 25 years. [...]
No one could have possibly been surprised by the Fed's lack of action on Wednesday. They had signaled to anyone who would listen that they would pause (skip, take a hiatus, halt, or whatever you want to call it) at this meeting. And no one should have been surprised that Jerome Powell offered some tough talk about the future of [...]
I am changing the format of these weekly updates. Rather than publishing one long weekly note, the weekend note will cover just the market and economic news of the week. The general commentary portion will be published another day during the week. We will also be publishing some new research notes during the week. The Monday email will include links [...]
Stay In Touch