Today's Economic Data Highlights
10:00: Homeownership and homeowner vacancy rates for Q3….This quarterly release is not widely followed by the markets, but we pay attention to it for both the homeownership rate and the homeowner vacancy rate for reasons reviewed most recently in last Friday’s US Economics Analyst. We expect the homeownership rate to trend down by about ½ point per year. It was most recently reported at 66.8% for Q2. The homeowner vacancy rate should also come down over time from its latest 2.5% reading, but progress on this score will be difficult as long as foreclosures remain high and demand stays low for cyclical reasons. For more, see https://portal.gs.com/gs/portal/home/fdh/?st=1&d=9926417.
17:00: ABC consumer comfort index…It’s been bouncing between -47 and -45 lately, last at -47.
From GS and ZH