MaxedOutMama
Monday, June 30, 2014
Pendings
Once when one cuts through all the shouting, the upshot is that Pending Home Sales remain significantly below last year's levels. On an NSA basis, -6.9%, with all regions clocking in negatively. The Northeast and South have relatively small declines at -2% and -4%. The Midwest and West are a little more decided on the matter, coming in at -8.4% and -14.3%.
So the upshot is still that we cannot look to home sales to carry the recovery forward into 2015.
Construction takes a while to peak and fade, so 2015 is the danger point.
Hobby Lobby/Conestoga decision is out, holding that closely held corporations do have religious protection under RFRA It seems to be about what I expected - a narrow ruling. The fun is going to be in the concurrences and dissents.
Perhaps the next Obama legislative initiative will be to mandate that anybody above a certain net worth must buy a car? In that case, and in that case only, the Hobby Lobby decision might have a national impact.
So the upshot is still that we cannot look to home sales to carry the recovery forward into 2015.
Construction takes a while to peak and fade, so 2015 is the danger point.
Hobby Lobby/Conestoga decision is out, holding that closely held corporations do have religious protection under RFRA It seems to be about what I expected - a narrow ruling. The fun is going to be in the concurrences and dissents.
Perhaps the next Obama legislative initiative will be to mandate that anybody above a certain net worth must buy a car? In that case, and in that case only, the Hobby Lobby decision might have a national impact.
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Anon - that's just a guess, but looking at China and India, and looking at the trend in US profits, we can't expect too damned much, can we?
Companies only spend when they can make money off of it.
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Companies only spend when they can make money off of it.
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