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Vehicle sales, real estate loans

Summary:
Still very weak: Since April, sales have increased, but are still down 4.3% from last year. The second graph shows light vehicle sales since the BEA started keeping data in 1967. Note: dashed line is current estimated sales rate of 16.34 million SAAR. Sales-to-date are down 18.8% in 2020 compared to the same period in 2019. In 2019, there were 12.70 million light vehicle sales through September. In 2020, there have been 10.31 million sales. Real estate loan growth is headed back towards 0 from already low levels, and note that with ultra low mortgage rates for the last 10 years or so lending growth hasn’t picked back up to where it was when rates were twice as high:

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Still very weak:

Vehicle sales, real estate loans

Since April, sales have increased, but are still down 4.3% from last year.

The second graph shows light vehicle sales since the BEA started keeping data in 1967.

Note: dashed line is current estimated sales rate of 16.34 million SAAR.

Sales-to-date are down 18.8% in 2020 compared to the same period in 2019.

In 2019, there were 12.70 million light vehicle sales through September. In 2020, there have been 10.31 million sales.

Real estate loan growth is headed back towards 0 from already low levels, and note that with ultra low mortgage rates for the last 10 years or so lending growth hasn’t picked back up to where it was when rates were twice as high:

Vehicle sales, real estate loans

WARREN MOSLER
Warren Mosler is an American economist and theorist, and one of the leading voices in the field of Modern Monetary Theory (MMT). Presently, Warren resides on St. Croix, in the US Virgin Islands, where he owns and operates Valance Co., Inc.

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