But did you hear the spin? "That's good... as prices fall, sales pick up". What about all of the existing homeowners who lose equity?
Lets see how things play out, I am not going to try and predict, thats just silly. I will listen to the market, its my friend!
rate hike is imminent now ALl this one year rally was based on rate cuts. Now housing is fine, dollar down, profits up, stockamarket booming, CPI up there is no execuse to avoid rate hike although our lovely Fed may still rate cut
there is no international money in US -look at exchange rates and you will understand it's all yen carry trade. I really can't understand why Japan doesn't have any inflation with rates below 1% fr 15 years but from time to time carry trade stops and happens what you saw on February 27
One thing is certin, a rate cut is now off the table. Market may not like this, as the housing put is gone.
Japaneese retail investors have record yen short positions. The world is in a battle to see who can get rid of there currency the quickest.
Looks like most of the balls the market had before have gone to rest for a while...whether they return in short order is another question...but the past few sessions have been sold down and over the last few months anything that got bought got held...looks like the lack of sellers is no longer a reality.