And with the news, look for markets to back off on silly-talk of rate cuts. Because the Fed wants 2 percent inflation, not the four-something percent of now:
NEW YORK, NOVEMBER 28, 2023: S&P Dow Jones Indices (S&P DJI) today released the latest results for the S&P CoreLogic Case-Shiller Indices, the leading measure of U.S. home prices. Data released today for September 2023 show that 15 of the 20 major metro markets reported month-over-month price increases.
The report continues:
YEAR-OVER-YEAR
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 3.9% annual change in September, up from a 2.5% change in the previous month. The 10-City Composite showed an increase of 4.8%, up from a 3.0% increase in the previous month. The 20-City Composite posted a year-over-year increase of 3.9%, up from a 2.1% increase in the previous month. Detroit surpassed Chicago, reporting the highest year-over-year gain among the 20 cities with an 6.7% increase in September, followed by San Diego with a 6.5% increase. Three of the 20 cities reported lower prices in September versus a year ago.”
For the Month?
Before seasonal adjustment, the U.S. National Index,10-City and 20-City Composites, all posted 0.3% month-over-month increases in September, while the 10-City and 20-City composites posted 0.3% and 0.2% increases, respectively. After seasonal adjustment, the U.S. National Index, the 10-City and 20-City Composites each posted
month-over-month increases of 0.7%.
You don’t need a finance degree to see that inflation is alive and well:
If you think this looks like inflation is under control, I have a bridge out west I’d like to sell you.
Writer when someone gets rich,
George@Ure.net (the rest of today’s column is here)
