Financial News Update
| ⦁ Housing starts increased 11.8% in November from October. Starts are up 8.3% from last year. ⦁ In the past year, single-family starts are down 0.8% and multi-family starts are up a whopping 37%! ⦁ Building permits (a great sign of new housing to be started soon) were up 3.6% in November from October. ⦁ In the past year, single-family starts are down 4.5%, while permits for multi-family are up 12.6%. ⦁ This is more evidence that the single-family housing supply crisis isn’t going to end anytime soon. ⦁ The PCE index, the Fed’s favorite inflation report revealed that inflation year over year increased from 4.4% last month to 5.3% in November. ⦁ The Core PCE saw prices increase by 4.4% year over year. ⦁ The Producer Price Index rose 0.8% in November from October and wholesale prices are now up 9.6% over the last 12 months!! !⦁ The Core PPI rate rose 0.7% last month and prices are 7.7% year over year. |