Another day, another lousy economic report under Biden.
Today, we found out that new home sales declined -11% MoM (from August to September) and fell -17.6% from last year YoY. With 603k SAAR sold.
The median price of new home sales was UP 7.8% YoY.
Here is the rest of the story as Paul Harvey used to say.
The housing and mortgage markets seem broken. Time for a new approach??