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Housing Stats Can Be Misleading (Long Live The Fed)

Well, the bad news is that we have to work today (well, most people) but the good news is that we have a long weekend ahead of us (and a lot of kayaking to do). I prospose we use the time to ponder how the housing market is really doing.

The housing stats and the anticipation of the Fed’s next move, seems to be largely reliant on misleading data. The Fed has ready indicated that they themselves are waiting to see what the data tells them before the next FOMC meeting. That in and of itself is reasonable, but the message seems to be that they are not in the driver’s seat. That is a big concern for the consumer.

I still contend that the weaker housing data has not yet impacted the overall economic stats in any significant way. When it does, the Fed may find itself needing to loosen monetary policy again after two years of belt tightening.

Housing Stats

Fed Commentary