People feel rich because of their real estate. If they can meet their wealth accumulation goals just by watching their houses appreciate, why save
More Quotes from Scott Hoyt:
The surge in building supplies is definitely tied to favorable weather as were increases in restaurant, furniture and department store sales.Scott Hoyt
Consumer spending is likely to become much more dependent on jobs and confidence by the third quarter, ... If labor markets have not turned, boosting confidence by then, the risk of a significant slowing in consumer spending will be very high.
Scott Hoyt
Year over year, the data shows, this will be the strongest holiday season since 1999. But because consumers have been spending since September, there's not much pent-up demand. Consumers have already spent up demand.
Scott Hoyt
It just suggests that consumers, particularly lower-end consumers, are going to be more stretched when these loans reset, with potentially negative implications for spending growth.
Scott Hoyt
A lot of the weakness in consumer spending in the fourth quarter was because auto sales were weak in December after surging in the third quarter. It's important to look beyond auto sales. At least for the first quarter, it's not going to take much for consumer spending to look good.
Scott Hoyt
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Peter Nivio Zarlenga
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Ed Miliband