These two articles, combined with yesterday’s on sales of existing homes, (which seem to contradict each other)should be a good lesson for your students on the fact that markets are often difficult to read. The nice thing about the first of these articles is that it points our regional differences. Obviously, data for the national market hides these differences. Also, there is a different market for high end homes than for low end homes.
While this may be much more than you want to get into, it is a great lesson for a deeper understanding of markets and national data.
By the way, one of the reasons that analysts pay so much attention to the construction and auto industries is that, together, both directly and indirectly, they account for up to 40% of total employment in the nation.
Both articles are from the WSJ.
Housing Momentum Builds but Perils Persist
Low Inventories Spark Bidding Wars in Some Neighborhoods, but Job and Mortgage Woes Threaten New Foreclosure Wave
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