The Housing Blues! US Pending Home Sales Tank -22.5% YoY In July As Fed Tightens And M2 Money Growth Slows

Me and the (housing) blues.

At The Fed continues to tighten to fight inflation, pending home sales in July crashed and burned. That is, pending home sales fell -22.5% in July as M2 Money growth slowed

If I was still teaching at Ohio State or Chicago, I would ask the students if they see the relation between M2 Money growth and pending home sales.