The Real Signal #115 - Homebuilder Spec Inventory Highest Since 2008
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Homebuilder Spec Inventory Highest Since 2008
“Home builder spec homes for sale just hit 2nd highest level ever.
Quite the rebound from the shortage experienced from 2012-22.
Builders are doing their part to inundate the housing market with supply.
Only other time there has been more builder spec inventory was 2008 bubble.”
Massive Downward Revisions In Job Data
“The massive downward revisions to jobs data are set to continue: latest from PHL Fed has early benchmark indicating jobs DECLINED in Q2 of this year while the initial monthly job reports estimated gains of 653k - the labor market's strength is a fiction...And yes, there are different methodologies for these three estimates, but they usually track very closely; after '20, there have been significant divergences that still haven't been rectified, leading to the abnormally large and consistently downward revisions to jobs data”
Large and Ongoing Deficit
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