Consumption is the typically the last sector hit by an economic recession. In the U.S., consumption is holding up, but much of it is coming from credit-backed auto sales.
See Bloomberg for a discussion: The U.S. Economy Needs to Kick Its Car Habit
"The Lock-In Effect of Rising Mortgage Rates"
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Today, in the Calculated Risk Real Estate Newsletter: "The Lock-In Effect
of Rising Mortgage Rates"
A brief excerpt:
Here is new working paper from Feder...
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