National home builder confidence index for August; 2019

builder

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National new home permits and starts for July; 2019

https://www.census.gov/construction/nrc/pdf/newresconst.pdf

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United States homeownership metrics for 2Q/19

Abode Affliction

In 19Q2, the homeownership rate fell to 64.1% from 64.3% in 18Q2, the first Y-o-Y decline since 2016. And high home prices are why. They’re high partly because inventory, which had been marginally improving for 10 straight months, was disappointingly flat in June, and because new construction activity has been shrinking and thus detracting from GDP for 6 straight quarters. Moreover, rental vacancy rates fell and are nearing 35-year lows.

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Elliot F. Eisenberg, Ph.D.
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TMLS market update for June; 2019

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Birch Market Update; 7/19 graph of US consumer debt as of 1Q/19

BirchMarketUpdate_07_31_2019

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New York Fed household debt and credit report; 1Q/19

fed

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Foreign purchases of U.S. residential real estate metrics

Alien Acquisitions

In the year ending 3/19, foreign purchases of US residential real estate declined to $77.90 billion, down from a peak of $153.01 billion two years ago, their weakest level in six years. Chinese buying activity declined the most; by 50% or $13 billion in just one year. Slowing global growth, a Chinese trade fight, and a rising dollar are why. Impacts are being most felt in luxury sales.

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Elliot F. Eisenberg, Ph.D.
GraphsandLaughs, LLC
elliot@graphsandlaughs.net
Cell: 202.306.2731
http://www.econ70.com

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