From Bloomberg:
Comments:
Housing news once again disappoints.
Consensus was for 340,000 new home sale with a range of 310,000 to 350,000.
Actual number for July - 276,000.
Even with mortgage rates dropping to record levels, housing is not picking up.
This data is another indicator of deflationary pressure in the economy.
Comments:
Housing news once again disappoints.
Consensus was for 340,000 new home sale with a range of 310,000 to 350,000.
Actual number for July - 276,000.
Even with mortgage rates dropping to record levels, housing is not picking up.
This data is another indicator of deflationary pressure in the economy.
Its interesting to see with so much negative news around the market is not going down, well if it cannot go down after so many attempts then it will do the obvious - go up!
ReplyDeleteWe'll see, for now i am keeping a close eye on my positions.
Walter.