Click to enlarge.
What's the worst that could happen from here? Okay, sure. The growth rate is currently negative and has been falling for 18 months. That's just this winter's East Coast's polar vortex temporarily rippling back through space and time though. Any rational optimist can see that.
Further, we already knew that the East Coast's weather would carry over to existing home sales in the West. To think otherwise is just crazy talk!
In all seriousness, the housing optimists better hope we not only stay in the channel but move back above 0% soon, or speculators may someday wish that they had embraced their fistfuls of dollars instead.
Source Data:
St. Louis Fed: Custom Chart
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Posted by: Tukiyooo
The Optimist's Guide to Western Housing Certainty (Musical Tribute) Updated at :
1:28 PM
Friday, February 21, 2014
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