Richard DeKaser
Richard DeKaser
clear declined demand few figure housing interest large market past rates rising
I think it's indisputable that demand in the housing market has declined in the past few months. It's very clear that rising interest rates figure very large in that decline.
equally expect mean orderly
For the U.S. as a whole, I expect we're going to have an orderly correction. But that doesn't mean it's going to be equally orderly in all places.
continue economic half hold levels likely lower maybe mortgage next pace past period quite rates
If we see economic indicators continue to weaken at the pace they have weakened in the past month, then I'm wrong. We could not only see mortgage rates continue to soften, but hold at lower levels for quite a substantial period -- maybe the first half of next year. But I don't think that's likely to happen.
average coming consumer fairly healthy months picture
Look at the two months together, average them out, what we still get is a fairly healthy picture of the consumer coming out of the fourth-quarter doldrums.
context favorable fed gives inevitable inflation latitude past rate recent seen
This is a very favorable report. In the context of what we've seen in the recent past, the Fed is right to say that inflation has been quiescent. It gives them more latitude to forestall an inevitable rate hike.
addition final inventory looks outside quite rebuilding strength
If you go outside of autos, manufacturing still looks quite healthy. There is a need for inventory rebuilding in addition to the strength in final demand.
concerned economy economy-and-economics fed inflation lean raising rapidly rates toward
The economy is rapidly getting back on course. The Fed is going to be concerned with inflation risks, and will lean toward raising rates further.
areas future high price risk
These areas are at an especially high risk of future price corrections,
credible talking
If you go back just 90 days, there were credible assertions of $100-a-barrel oil. No one is talking about that anymore.