In case there is still any confusion:
"Prices are unlikely to return to pre-Covid levels. It would probably take a historically painful recession to engineer that degree of deflation. In other words, past inflation is mostly water under the bridge for the Fed." – BofA
— zerohedge (@zerohedge) December 26, 2023
The survey, which polled over 4,000 adults in the U.S., finds that:
*three quarters of working Americans (74%) say they are stressed about their personal finances these days, which is slightly higher than the last Your Money survey (70%),
*more than half of Americans (61%)…— floridanow1 (@floridanow1) December 26, 2023
Pending home sales, a measure of signed contracts on existing homes, dropped 1.5% in October from September. They hit the lowest level since the National Association of Realtors began tracking this metric in 2001, meaning it's even worse than readings during the financial crisis… pic.twitter.com/Hu00ezV6df
— floridanow1 (@floridanow1) December 26, 2023
October home prices post biggest gain of 2023, despite higher mortgage rates, says S&P Case-Shiller
- Home prices rose 4.8% nationally in October compared with October 2022, according to the S&P CoreLogic Case-Shiller home price index.
- That’s a jump from the 4% annual increase in September and marks the strongest annual gain seen in 2023.
- Among the top 20 cities, Detroit reported the largest year-over-year gain in home prices at 8.1% in October.