This is a syndicated repost published with the permission of Snake Hole Lounge. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.
US Existing Home Sales rose to 5.81 M units SAAR in November, an increase of 5.6% MoM.
Existing home inventory has been declining since The Great Recession and keeps getting worse as median price of existing home sales keep rising.
Median price growth for existing home sales continues to be greater than twice that of wage growth.
The Fed song about home prices:
They don’t care for me
I don’-a care about that
They gotta new fool, ha!
I like it like that
They have only one burning desire
Let them stand next to your fire (of home prices)
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