Credit data shows: There’s no housing crash coming
Recent credit reports indicate that homeowners are in a strong financial position, with minimal signs of distress.
Mortgage delinquency rates remain historically low, reflecting strong borrower financial health.
Current environment contrasts sharply with pre-2008 period, suggesting low likelihood of a housing crash.
Single-family permits higher in September 2024
The first nine months of 2024 saw a 10.1% year-over-year increase in single-family permits.
All four U.S. regions experienced growth in single-family permits, indicating robust demand for new housing.
The South led with the highest number of permits, highlighting regional population growth trends.
Annual inflation rate hit 2.6% in October, meeting expectations
The Consumer Price Index (CPI) rose by 2.6% year-over-year in October, up from 2.4% in September.
Despite signs of inflation moderating elsewhere, shelter prices continue to put upward pressure on CPI.
Average hourly earnings for workers increased faster than inflation: 0.1% for the month,1.4% year over year.
