Monday, October 07, 2019

Not for long.

"The US consumer "remains healthy" despite growing fears of economic recession, the team of BAML analysts said. Should the retail industry face a holiday headwind, certain value stores could benefit from discount-seeking customers, they added." Source.

I think it is sort of funny how the "everything is fine" goalpost keeps being moved back. Said in the most sarcastic way.

Last week it was - everything is fine because wage growth is fine. Then it came in weak. Now it's everything is fine because the consumer is fine. And I can tell you - judging from the recently sold houses in my city - everything is NOT fine.

Of 76 houses - only 16 sold for above asking. 15 sold for asking. 45 sold for under asking. And I only went through the first page of the MLS. The most recent sales since 9/4/19.

1 comment:

  1. It's ok and I don't mean the awesome white power symbol.

    We can all just blame Trump and elect one of those idiots that will put illegal aliens first, trample the 2nd Amendment even more, let in more illegal turd world people, and start a green energy program.