The consumer confidence index reached the highest level in 5 years in the report issued October 12th. Some gave credit to the drop in unemployment. But despite the 7.8% headline, the underlying numbers were only a slight improvement. Consumers respond to what they see and feel. We now have the answer.
The home market is improving. A reduction in foreclosures, and a flurry of sold signs, improves the mood of a neighborhood. Romney proving, in the first debate, that he was not a troll under a bridge, overwhelmed the initial impact of the housing trend. But this trend, combined with a good final debate for Obama, could put Romney on a bridge to nowhere. At least he can be heartened that his four houses have gained value.
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