GDP -1.4 %
- Thread starter SIXERS24
- Start date
the continued erosion in economic data has prompted The Atlanta Fed to slash its forecast for Q2 GDP growth from +1.3% to 0.9+%, meaning the US is now less than 1% away from a technical recession (after Q1's contraction).
According to the Atlanta Fed's GDPNow model estimate for real GDP, growth in the second quarter of 2022 has been cut to just 0.9%, down from 1.3% on June 1, and down from 1.9% on May 27.
According to the Atlanta Fed's GDPNow model estimate for real GDP, growth in the second quarter of 2022 has been cut to just 0.9%, down from 1.3% on June 1, and down from 1.9% on May 27.
Another week, another collapse in the pace of mortgage applications as the Mortgage Bankers Association (MBA) reports a 6.5% week-over-week drop in mortgage applications - the fourth straight weekly drop - to its lowest since 2000. Purchases fell more than refis, tumbling 6.1% WoW (refis fell 5.6% WoW)...
The median new home in the U.S. became even less affordable for the typical American household in April 2022.
That's especially clear in the following chart. It shows the basic mortgage payment for a median new home as a percentage of median household income rocketed up from 33.8% of that income March to 37.8% in April 2022.
April 2022's median household income was just 17.4% of the value of the median new home sold during the month. By this raw measure, new homes have never been less affordable for the period where we have data available.
The median new home in the U.S. became even less affordable for the typical American household in April 2022.
That's especially clear in the following chart. It shows the basic mortgage payment for a median new home as a percentage of median household income rocketed up from 33.8% of that income March to 37.8% in April 2022.
April 2022's median household income was just 17.4% of the value of the median new home sold during the month. By this raw measure, new homes have never been less affordable for the period where we have data available.
Sure it is a mess, but it’s been a mess for 50 years!
building a wall would slow the mess, but until we change policies on, it won’t eliminate it!
It's lost 200 points since I posted that. .. hang on to your hats fellas.
Nasdaq now down 20% for year.
We elected a vegetable.
Haha.... I am soooo far away from a wise guy. I don't know shit about shit, but I'm trying to learn.
*I had to look that up.
Possibly people are keeping it somewhat afloat thinking this is the new low point to buy in at. Supposedly the Rate conversation this morning helped stability but we have dropped 100 points since then.
Now at 30400ish. Looks like we set a new 52 week low today already also.
Dow with a nice little 350 point jump this morning to go to 30750ish. Must like the rate increase amount picked.
Dow under 30,000 briefly. Now hovering just above. I think we have a ways to go before hitting the bottom.
Sitting under 30k currently. 29980. I don't think we are at the bottom but I have to believe some people will start putting money in thinking long term.
It would really be helpful if the White House and Biden would STFU. Continuing to blame Putin, the oil companies, everyone in the supply chain, and corporate greed isn't helping. Investors would like to think the White House actually understands what's happening. Instead the Biden and the White House keep saying how wonderful everything is, and they just need to have more government spending to make things even better.
We you have no solutions and are way in over your head, you simply point fingers
When I find myself in over my head, I STFU and digging my hole deeper. I try to focus on listening and learning rather than spin control.
S&P 500, Dow and Nasdaq drop on recession fear, mortgage rates rise.
U.S. stocks slid after a handful of banks around the world followed the Fed and raised rates to fight inflation. The rate hikes fed recession fears.
www.usatoday.com
