New Home Inventory: A Chart Worth Looking At
Regular readers of this blog know I point out the huge increases in home builder inventory. This information is available on company balance sheets. So it is a little frustrating to read over and over how there just aren't enough homes on the market.
The folks over at PrudentBear put up a chart, based on Census Bureau data, that should put the issue to rest. I understand that supply is slim in San Francisco and other places, but the housing boom is all over the country, not just in land locked coastal cities.
The PB piece addresses several interesting topics, one is the big run-up in credit issued. "Bank Credit has expanded a stunning $293.7 billion during the first 11 weeks of the year (20.6% annualized), in what is demonstrating all the characteristics of a classic Credit blow-off." So much for Fed tightening.