Richard DeKaser
Richard DeKaser
clear declined demand few figure housing interest large market past rates rising
I think it's indisputable that demand in the housing market has declined in the past few months. It's very clear that rising interest rates figure very large in that decline.
becoming far income increases price
It is a little concerning. The implication here is that over-valuation is becoming more prevalent. There is no disputing that price increases are far outstripping income gains,
increased market perception responding
I think the market is responding now to a perception of the increased possibility of recession, which I do not see.
addition final inventory looks outside quite rebuilding strength
If you go outside of autos, manufacturing still looks quite healthy. There is a need for inventory rebuilding in addition to the strength in final demand.
economy economy-and-economics effects exclude extremely solid
It's a very solid quarter. The fundamental of the economy is extremely robust, which doesn't exclude the effects of the hurricanes.
areas conditions labor outside sustained welcome
It's still a welcome number. It showed sustained labor conditions outside of the areas impacted by the two hurricanes.
believe demand housing leads likely minimum mortgage recent rise weakness
There's already been a considerable softening in housing demand which preceded the recent rise in mortgage rates. Which leads me to believe that the weakness at a minimum will continue, and may likely accelerate.
average coming consumer fairly healthy months picture
Look at the two months together, average them out, what we still get is a fairly healthy picture of the consumer coming out of the fourth-quarter doldrums.
although businesses condition correction economic indicate optimistic outlook results slight small stance
Although there was a slight correction in the outlook index, the results still indicate an optimistic stance on the economic condition for small businesses in the Midwest.