It is a little early to eulogize the housing sector. Look for any deterioration in starts, sales, etc., to be more gradual than the weather-depressed December starts tally would suggest.
More Quotes from Stephen Stanley:
We're in a pretty quiet time of the year. We've been pretty directionless today. Oil hasn't been doing much.Stephen Stanley
One-year inflation expectations spiked from 3.1 percent to 4.6 percent, by far the highest reading since 1990.
Stephen Stanley
It is definitely clear that (housing) is one area where you will see less growth,
Stephen Stanley
Today's report should convince most market participants that the March softness in the data was primarily a one-month phenomenon. Sounds like a recipe for continued 25 basis-point rate hikes for the foreseeable future.
Stephen Stanley
The Fed will have to take rates beyond neutral to a somewhat restrictive pace. Today's data totally supports that view of the world and should...eliminate any doubts about the near-term course of monetary policy.
Stephen Stanley
If what we see in these surveys is truly the case, then there will be a clash in the boardroom as these two decide how best to move the company forward.
Stephen Stanley
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