US New Home Sales Decline 23.1% YoY In October As UMich Home Sentiment Plummets

While some economists are cheering the post-COVID economic recovery, I am not among them. Rampant inflation and bad economic policies are plaguing the non 1% of the population.

For example, new home sales dropped -23.1% YoY in October. As consumer sentiment for housing crashed to 63 (baseline of 100).

Why are consumers bummed-out about buying housing? How about rapidly accelerating new home prices???

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