Joel Naroff
Joel Naroff
buying decline demand forget june level market mortgage people rates showing sign wonder
Forget the decline from the June pace. What is important is the level of activity, and that is extraordinarily high, ... This market is showing no sign of weakness. With mortgage rates so low, it is no wonder that people are still out there buying homes. And with demand strong, construction is not going to fail.
condition confidence continue failure firm levels markets near questions raises remain september true
If the markets continue to firm in September and confidence does rebound, then we will have dodged the bullet, ... But the failure of confidence to remain at least near July's levels raises some questions as to the true condition of the economy.
behind days drop extent home levels record sales seems surprised though
The extent of the drop seems overdone, ... I would not be surprised if home sales rebound, though the days of record sales levels may be behind us.
extra fed insurance june looks report wants
The Fed wants to see results, and this report didn't give it to them, ... It looks right now as if the Fed will take out some extra insurance on June 25.
housing mother nature slow
Not even Mother Nature can slow the housing market.
across building pressures
Slowly, but inexorably, inflationary pressures are building across the economy.
bunny deficit describe growing keeps small steroids term trade
The trade deficit, if you can still use the term deficit to describe the GDP of a small country, just keeps getting wider. This is the Energizer bunny on steroids as it keeps growing and growing and growing.
causing high house people prices pull question turned twice
Some people are being turned off by the high house prices and they just can't pull the trigger. Without question that's causing some people to think twice about buying.
confidence despite remains
Despite the faltering confidence numbers, consumption remains strong, and that is all that really matters,
cash flow help
You need to help the cash flow to businesses, just to make them a little better off.
costs earnings further input limited pressure pricing rise sharp
The sharp rise in input costs can only further pressure earnings in those sectors where there is limited pricing power, which is still most of the economy.
basis cut movement rest shows yield
If they cut by 50 basis points, we may also see some movement down in the rest of the yield curve, ... If they cut by 25 basis points, I don't think it shows up in the rest of the curve.
against bid businesses capacity choice creeping inflation pressures running
Businesses are running up against capacity constraints and have no choice but to hire, and that may bid up wages. Productivity is decelerating and inflation pressures keep creeping up.
boss cannot good worries
Basically, the new boss has the same worries as the old boss. For the markets, this cannot be good news.