Click to enlarge.
August 23, 2013
Calculated Risk: Comments on New Home Sales
And even though there has been a large increase in the sales rate, sales are just above the lows for previous recessions. This suggests significant upside over the next few years. Based on estimates of household formation and demographics, I expect sales to increase to 750 to 800 thousand over the next several years - substantially higher than the current sales rate.
For what it is worth, I shall take the under.
Source Data:
St. Louis Fed: Custom Chart
Your chart does a great dis-service to all the 25 to 34 year old NINJAs that bought houses during the housing bubble that didn't exist.
ReplyDeleteNot including them in the chart is down right mean. Kinda like not giving them a mortgage today. NINJAs have feeling.
Anyway, we've got to get credit flowing! It's the key to our Ponzi economy. Seriously!
mab,
ReplyDeleteAmerican Ninja (1985)
Jackson: Listen to what I'm saying. With your skills, we could make some easy money.
Joe: Jackson, I don't want to fight, I hate crowds, and I don't need money.
Don't need money, don't need income, don't need job, don't need assets! American Ninja style!
And if you've seen the movie, he's very impressive with a bucket over his head. Seriously. Might even be able to fog a mirror! ;)