The death of the housing market is greatly exaggerated. Home sales will come off but just a bit.
More Quotes from Kurt Karl:
We have a housing valuation issue. The time is now for raising interest rates and defusing these problems potentially by slowing down the economy a bit and avoiding a big necessary increase later and a consequential recession.Kurt Karl
It is unclear if things are slowing down or speeding up given all the volatility we've had in weather and oil prices.
Kurt Karl
It's a solid, strong report. But we have to remember we are coming from a very weak fourth quarter, so this is mainly a rebound from those weak levels. Consumption and investment remain strong and inflation keeps ticking up, but most of it is still related to oil prices. This could bode well for markets this Friday.
Kurt Karl
We had expected a rebound. Gasoline prices are down a lot, so that is good news, but they are still very high and that may be what is weighing on people's minds at this point.
Kurt Karl
Oil prices are higher and there's a constraint on the consumer because of that. You've also got rising interest rates and a slowing housing market.
Kurt Karl
My view on inflation is we'll continue to get reports like this, and the biggest numbers we'll get are 0.1s and 0.2s. U.S. consumers just turn it off when they see the prices go up, as happened last month with cars, so it's going to be hard for retailers to sustain any major price increases.
Kurt Karl
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