Richard DeKaser
Richard DeKaser
clear declined demand few figure housing interest large market past rates rising
I think it's indisputable that demand in the housing market has declined in the past few months. It's very clear that rising interest rates figure very large in that decline.
becoming far income increases price
It is a little concerning. The implication here is that over-valuation is becoming more prevalent. There is no disputing that price increases are far outstripping income gains,
increased market perception responding
I think the market is responding now to a perception of the increased possibility of recession, which I do not see.
equally expect mean orderly
For the U.S. as a whole, I expect we're going to have an orderly correction. But that doesn't mean it's going to be equally orderly in all places.
average coming consumer fairly healthy months picture
Look at the two months together, average them out, what we still get is a fairly healthy picture of the consumer coming out of the fourth-quarter doldrums.
apparent bush changed economists house influence quite small throughout white
The apparent influence of White House economists has been quite small throughout the Bush administration, which hasn't changed much of late.
caused concern economic increase january marked oil related
January marked an end to the economic concern caused by the hurricanes ... and the related increase in oil prices.
continue economic half hold levels likely lower maybe mortgage next pace past period quite rates
If we see economic indicators continue to weaken at the pace they have weakened in the past month, then I'm wrong. We could not only see mortgage rates continue to soften, but hold at lower levels for quite a substantial period -- maybe the first half of next year. But I don't think that's likely to happen.
due exactly february january knew mild month spending surprises
There are not a lot of surprises here. We knew February will be a down month in spending after a torrid January due to mild weather. This is exactly what we got.
coming family market peaked report
Today's report confirms that the single-family market has peaked this summer, and it's coming off gradually.
carrying course firm likely momentum sustained
We're carrying firm momentum into 2006 which is likely to be sustained over the course of the year.
area cards demand expect likely side supply sync takes time
When demand shifts, it often takes time for supply side to get in sync ... I would still expect some softening is likely in the cards in the Dayton area as we go through this year.
credit guides industry markets reassuring sending signals useful whatever
The credit markets have been very useful guides to industry prospects. Whatever reassuring signals they are sending shouldn't be ignored.
housing peak recognize summer year
When we look back a year from now I think we'll recognize the summer of 2005 as the peak of the housing boom.