Tuesday, March 28, 2017
Consumer Confidence Hits Highest Level Since 2000; Home Prices Up 5.9%
Consumer confidence surged to a new 16-year high in March.
The Conference Board Consumer Confidence Index jumped to 125.6 – highest since December 2000.
Meanwhile, US home price gains reached a 31-month high in January, according to the S&P/Case-Shiller U.S. National Home Price Index.
The index, which measures all nine U.S. census divisions, found that home prices rose 5.9 percent year-over-year in the month, up from December's 5.7 percent annual gain.
Of the nation's 20 largest cities, three reached their all-time highs in January: Seattle, Portland, and Denver. And 12 cities reported greater price increases in the year ending January 2017 versus the year ending December 2016, the report said.
This, of course, has occurred despite 3 Fed rate hikes and Austrian-lites warning of an imminent crash in the economy after the first hike more than 2 years ago.
This is not what a recession looks like.
at 11:54:00 AM