The impact of stronger job growth more than overcomes the impact of higher mortgage rates. It doesn't mean we'll have a month like March every month. But home sales should remain strong even with mortgage rates about a percentage point above the low point.
More Quotes from Mark Vitner:
Coming on the heels of stronger reports on retail sales and durable-goods orders, as well as a sharp drop in first-time claims for unemployment, this ... drop in consumer confidence was a cold slap in the face to all of those economists, including ourselves, that are looking for a second-half rebound.Mark Vitner
The prices paid is still way up there, inflation is still running a little hot, enough that the Fed will continue to raise interest rates.
Mark Vitner
All of Florida is doing well. Its economy is outperforming the nation by the largest margin in recent memory. You'd be hard pressed to find a weak area anywhere in the state.
Mark Vitner
We're going to have plenty of weak economic reports over the coming months. If they respond to every one, they'll get down to zero percent interest rates pretty damn quick.
Mark Vitner
If you wait for the wage increases to show up in the report, they're behind the curve.
Mark Vitner
We're shifting from an economy driven by consumer spending and home building to one driven by business investment.
Mark Vitner
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