Rich’s latest report is out!
The worrisome spike last month did flatten out, but it does make you wonder if we should adjust our sights.
I agree with Rich that the months of active inventory will probably be rising from now on. But if the coastal market had 3 or 4 months of active inventory, it wouldn’t be a bad thing. Rancho Santa Fe is 7+ and doing fine.
Click here for the full report:
https://www.piggington.com/october_2018_housing_data
Speaking of adjusting our sights…..
Goldman Sachs sees unemployment falling to 3% by early 2020 and wage growth to hit the 3.25 – 3.5% range over the next year or so.
“Labor market tightness is moving to levels rarely seen in postwar history at the national level, and our analysis of city-level data suggests that such extreme readings typically push inflation notably, not just slightly, higher.” – Jan Hatzius, Goldman Sachs’ chief economist
Wall Street has been predicting higher wages for about 7 years now and wage growth is higher than its been but much lower than before financial crisis.
3.5% increase in wage growth over the next year!!??!?! sweet!!! remind me again how much health care, food costs, and home prices have gone up since the recession?