The last week or two of the season can make or break it.
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
They're moving away from bank cards and credit cards -- short-term installment debt -- into various forms of mortgage borrowing with lower interest rates and long terms.
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
We're assuming January was all about the weather.
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
Low interest rates and rampant house price appreciation have really been driving borrowing. As long-term rates finally start to rise, the pace of debt accumulation will slow.
Scott Hoyt
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