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Source Data:
ESRI: Consumer Confidence
St. Louis Fed: University of Michigan: Consumer Sentiment
Real Estate Newsletter Articles this Week: Existing-Home Sales Increased to
4.15 million SAAR in November
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At the Calculated Risk Real Estate Newsletter this week:
[image: Existing Home Sales]*Click on graph for larger image.*
• NAR: Existing-Home Sales Increase...
17 hours ago
5 comments:
Warning: I made my girlfriend watch the first minute of the video and it may have permanently scarred her, lol.
It's really quite remarkable that Americans were so CONfident while they were being impoverished with debt.
Madoff writ large. All ponzi schemes are based on CONfidence.
mab,
Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one. - Charles Mackay
They may recover their senses slowly and individually, but there comes a tipping point. Student debt loans acquired in college have been discussed for years on econ bogs. Suddenly the mismatch of starting adulthood with debt in the tens of thousands, non-dischargeable even in bankruptcy and the lack of entry level jobs that pay decently is finally getting national attention. I won't even mention the competition for unpaid "internships".
Why even note that living in your parents basement might impede household formation, first-time home buying and even demographics?
No that would be a downer. Instead, I do see a suggestion of of indentured servitude, an old American custom.
But then, I'm a crank.
fried,
Why even note that living in your parents basement might impede household formation, first-time home buying and even demographics?
I resemble that remark! Seriously.
I lived in the dorms and an apartment for my first year in college. Moved back in to my parent's basement for the remaining years.
Married at 33 (divorced shortly thereafter) and bought my first home (still living in it). Never had children.
Plenty of uneducated pets though! D'oh! ;)
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