Credit data shows no housing crash, single-family permits rise in September, and U.S. inflation climbed slightly to 2.6% in October.
Daniel McCullum November 20, 2024
Credit data shows: There’s no housing crash coming
Recent credit reports indicate that homeowners are in a strong financial position, with minimal signs of distress.
Mortgage delinquency rates remain historically low, reflecting strong borrower financial health.
Current environment contrasts sharply with pre-2008 period, suggesting low likelihood of a housing crash.
Read more at HousingWire
Single-family permits higher in September 2024
The first nine months of 2024 saw a 10.1% year-over-year increase in single-family permits.
All four U.S. regions experienced growth in single-family permits, indicating robust demand for new housing.
The South led with the highest number of permits, highlighting regional population growth trends.
Read more at NAHB Eye on Housing
Annual inflation rate hit 2.6% in October, meeting expectations
The Consumer Price Index (CPI) rose by 2.6% year-over-year in October, up from 2.4% in September.
Despite signs of inflation moderating elsewhere, shelter prices continue to put upward pressure on CPI.
Average hourly earnings for workers increased faster than inflation: 0.1% for the month,1.4% year over year.
Read more at CNBC