Tuesday, October 28, 2014

Wolf Richter — New Home Prices Plunge the Worst EVER (in One Ugly Chart)


Wolf Street
New Home Prices Plunge the Worst EVER (in One Ugly Chart)
Wolf Richter

See also
Zero Hedge
This Has Never Happened Before Without A Massive Bubble Bursting

6 comments:

Seve141 said...

I though Mike might like this ?

Trader smacks down Peter Schiff: ‘This is dangerous’

Tom Hickey said...

A broken clock is right twice a day.

Dan Lynch said...

Home sale data is always noisy.

But .... there seems to be a consensus that we're overdue for a recession. The Saudi price war may be the straw that breaks the camel's back.

Greg said...

Im so tired of that "phony economy" or "funny money" bullshit. As if there is only one "real" economy, understood only by "real" economists, assessing "real" production, by people working "real" jobs.... the ones done by "real" Americans. Of course it always ends with gold the only "real" money. What a turd.

I want to know when Peter is going to give back all that "phony" wealth he accumulated over the last 30 years. All that debt fueled consumer spending drove this engine and kept him and the whole CNBC crowd in a job. Imagine if no one had taken on any personal debt, no credit card usage at all since the 1980s. All 401k statements would have "real" low numbers on them.

Matt Franko said...

Maybe the consumers want smaller homes and this is being reflected in the price data....

You have to look at the $ psf

Matt Franko said...

This data could be considered as similar to "average order size"...