As Biden/Harris approve of Ukraine launching missiles against Russia risking nuclear war, we are witnessing a slow down in the US economy. This time, housing starts and permits.
US Housing Starts and Building Permits disappointed in October with the former dropping 3.1% MoM (-1.5% exp) and -0.6% MoM (+0.7% exp) respectively. This is the second straight month of declines for both measures of housing activity.
That pulled the SAAR totals down to four month lows – hovering just above COVID lockdown levels…
Under the hood, it was very mixed with Single-family permits rising and multifamily permits dropped. Single-family Starts plunged while multi-family Starts jumped…
As rate-cut expectations have fallen, so have homebuilders actions it seems…
But homebuilder ‘hope’ remains high…
With Trump back in charge, how much will Powell and his pals really want to cut rates now?
Confounded Interest - Anthony B. Sanders 
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