One of the pillars of strength of the housing market is the fact of the tax-advantaged nature of the asset. To the extent that you chip away at that, you would see housing somewhat negatively impacted.
I think it was interesting that sales fell despite the fact that we had limited auto incentives in November. It raises the question of what is likely to happen once these incentives disappear entirely.
Today's Fed rate cut and directive clearly reflects the fact that the Fed is coming to the end of its rainbow and therefore wants to ensure that it still can convince financial markets that it still has further flexibility to do more if it needs to.
The fact that unemployment is getting worse is not a surprise. But the fact that it's deteriorating at this pace is a surprise.
The fact that U.S. officials cannot rule out further attacks will keep consumers here and abroad in a deeply uncertain state.
We can't lose sight of the fact that energy restricts growth. It is doing so.
These claims numbers confirm the notion that things may improve sometime in the future. The fact that we didn't go over 400,000 was very encouraging.
Even though the gains this month are in fact indicative of a sustainable economic expansion, the magnitude of the gain was a bit exaggerated.
Despite the fact that the unemployment rate remains low relative to prior economic downturns, the burden on the unemployed population has been the most severe, by one measure, since at least 1972.
Although it's not particularly good news for the housing market, the fact that you're seeing weakness here shows that monetary policy is working and the (Fed) would not have to blunt the economy with more hikes than the market has been anticipating.
The report illustrates the fact that housing is not defying gravity and is not likely to do so this year. We're going to see chipping away of housing.