Heterodox
– by New Deal democrat One item I meant to address with this week’s existing and new home sales data was the relative difference in price in the two, and the effect on the relative share of the market. I am following up now because yesterday Kevin Drum put up a post yesterday in which he concluded that “The price of a new house is now below its pre-pandemic trendline and heading toward its 2020 level . . . When the Fed finally gets around to...
Read More »House prices – especially for existing homes – compared with wages remain near or at all-time highs, so existing homes make up less of the market
