- by New Deal democratThe two consumer goods which turn down before recessions, and up before recoveries, are houses and motor vehicles, in that order.Since January housing permits and starts came out yesterday, let’s take a look at both.First, while housing starts retreated slightly from their December levels, the more leading and less volatile permits, and the even less volatile single family permits, both made new 14 year highs. The below graph normalizes all three series to 100 as of yesterday’s report, better to show the long term context:Starts were not so high as in prior booms, but permits were higher than at virtually all past periods except for the early 1970s and the early 2000s bubble.That’s really strong, and as I’ve said many times over the past half a year, bodes really
[email protected] (New Deal democrat) considers the following as important:
This could be interesting, too:
Tyler Durden writes Global Military Spending Hit Record High In 2020 With US In The Lead
James Picerno writes The ETF Portfolio Strategist: 26 Feb 2021
Tyler Durden writes The Ten “Peaks” Behind BofA’s Call For A Second Half Crash
Tyler Durden writes Trump Is “Still The Future Of The Republican Party” Says Don Jr.
- by New Deal democrat
The two consumer goods which turn down before recessions, and up before recoveries, are houses and motor vehicles, in that order.
That’s really strong, and as I’ve said many times over the past half a year, bodes really well for the broader economy in 2021 once the pandemic is brought under control.