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https://www.nahb.org/news-and-economics/housing-economics/indices/housing-market-index This is single family only I believe…so may have to check multi-family. Case-shiller YoY price movement gives same results. Peak was Apr 2006 and bottom was May 2013 or 7.2 years (the often quoted real estate cycle). Current peak … Continue reading →

Despite QE and stimulus …all reflected in XLE ! For TLT, two considerations- ‘flight to quality’ XLE

When year over year case shiller turns negative…bear market real estate. When it crosses to positive…back to bull. Real estate is the primary asset of middle class and reflects true state of consumer confidence and economy. Case Shiller YoY

After credit cards started growing again in Jan 2012, real estate picked up 1 year later. And stocks picked up Jan 2013.

Bear market begun in Jan and now jobs start to go…

Back to middle of 2019

Inflation pressure comes off despite oil prices peaking. Income also weak.

Manufacturing ism prices paid drops significantly for first time in a year…

https://fred.stlouisfed.org/graph/fredgraph.png?g=CcIe The reason core inflation dipped in Dec and Jan is the drop in shelter inflation. But now as things open up again, shelter inflation rises. The blue line shows the oer rate needed (0.25) to achieve core inflation 2.0.