Chillin' out till it needs to be funded
Housing completions, neglected in the statistics and a repugnant first feeling when you lool at those single digit numbers in the Total US completions in Multi Family housing yet 100,000 single Family units were completed in Q4 and 49,000 multifamily units all over the US. It’s quite an achievement as most of the completions in the multi family units are for units on rent and have been in the skyrise category or buildings with more than 20 units for rent and that is catchy with 880,000 families moving into flats with an average 1100 sft area and probably many with community facilities as further detailed analysis might show. the sentiment is “catchy” with more quarters with the consistent completion data good for a rise to
the next level of economic harmony/mayhem as growth actually kicks in. a million new families in one quarter is actually a sizable number finding themselves new dwellings.
Also I don’t know why I should be optimistic about a retail sales clip of 3.3% in the Goldman number and 3.6$5 in the rEdbook with womens apparel doing well. Luxe sales, however, look set for a rise as Tiffany’s kicks in a new 10% annual growth outlook and Bloomingdales’, Saks and Nordstrom doing exceedingly well in the preceding quarters as well.
Meanwhile if you believe the Wonkpeople (Washpo’s Wonkbook writers) GOP are more embarrassed about the House Budget Chairman’s Shadow Budget where he cuts the deficit by cutting taxes from 6 tiered structure to a flat structure with two rates of 15% and 25% and a You Tube video to introduce the budget docu=ment – at least we havea budget, the President does not!