Today’s podcast covers the recent CPI inflation report and the market reactions. As someone who isn’t a Fed pivot person, I must remind everyone that my Fed won’t pivot stance has more to do with the labor market than inflation. I believe the Fed will gain more confidence in rate cuts when jobless claims break higher, especially once we hit my crucial level of 323,000 on the four-week moving average, which isn’t happening today. Also, wage growth is cooling down, but not at the levels where I believe the Fed will be more comfortable about the labor market; running at 4.1%, they would love to see wage growth between 3%-3.5%.
For those who prefer a YouTube channel, HousingWire has its YouTube channel, and both podcasts each week will be there now.
Also, today, I spoke on Yahoo Finance about a host of topics: the economics of the NAR lawsuit, mortgage rates, inventory, and why some places in the U.S. will have affordability issues that don’t involve home prices or mortgage rates.
Every weekend for HousingWire, we bring out the weekly HousingWire Tracker report, where I take a deep dive into the current and forward-looking housing data lines so you can be up to date with the data lines that matter in housing. If you would like to join HW Plus to have access to the tracker, please use my LoganVIP20 code.
“In three words I can sum up everything I’ve learned about life: it goes on.” -Robert Frost
Logan Mohtashami is a Lead Analyst for Housing Wire, a financial writer, and a blogger covering the U.S. economy with a specialization in the housing market. Logan Mohtashami, now retired, spends his days and nights looking at charts and nothing else.