Fed continues to fail to achieve it’s 2% target:
No sign here of housing growth picking up from where it’s been:
The new home sector picked up steam in the third quarter and looks to end the second half with strength. The housing market index held on to the bulk of its 6-point surge in September, coming in at 63 for October in only a 2 point slip. Home builders are very optimistic about future sales, the leading component of the report which is at 72 and up 1 point in the month. Current sales are down 2 points but are very strong at 69. Traffic continues to lag, down 1 point to 46 but with the trend still showing slight improvement.
Regional data show the West out in front, at a 3-month composite average of 75 followed by the South at 65. These two regions are top priorities for the nation’s home builders. The Midwest is also positive at 56 while the Northeast, which is already densely developed, remains well below the break-even line, at 43.
The lack of traffic is a concern, perhaps reflecting the lack of new homes coming on the market and also a lack of prospective first-time buyers many of whom are content to rent. But the new home market is a major highlight of the economy right now, where expansion is being limited by construction constraints but is still pointing to spillover into the still muted resale market.
By Aaron Zitner
Oct 17 (WSJ) — Overall, 72% of registered voters rate themselves highly interested in the election, down 4 percentage points from this point in 2012 and 15 points from 2008. Some 65% of African-Americans rate themselves as highly interested in the election, down 18 points from the 2012 election and down 28 points from 2008, the Journal/NBC News survey found. Only 54% of voters under age 35 say they have high interest in the election, down 6 points from the 2012 election and nearly 30 points from 2008. Some 69% of Hispanic voters rate themselves as highly interested in the campaign, up 1 point from 2012 and nearly equal to the electorate overall.