y-o-y, spending is flat (up 0.1%) for june.
i see this as good news. especially since gdp is reported to be down by more than 30%.
here, n.w. of tucson, there is still plenty of single family home construction going on.
single family homes both new and existing are selling like hotcates here in Cincinnati area. I am expecting a slow down some time as lumber cost are very high. Some components are out of stock. Home prices should rise.
JMHO
Unless you have some sort of gov't backing the banks require a 20% down payment and a RICO score of 700, which means they have very few new house loans
Does Freddie and Fannie do a lot of housing loans
Are they very lenient on new loans
1st time buyers or down sizing???