The percentage of Americans who think now is a good time to buy a house because “times are good/prosperity" is at a record high. The NFIB small business survey indicates small businesses are the most optimistic in the 45 year history of the survey.

Small businesses are more optimistic when a Republican is President. Whenever any data point makes a 45 year record or something of similar proportions there needs to be a confluence of factors to make it happen. Small businesses love the growth rebound, the tax cuts, the regulatory reform, and they are politically biased to favor Republicans.

It’s interesting to see how the metric of saying times are good didn’t get that high during the peak of the housing bubble as Americans weren’t necessarily euphoric about the economy even though they were euphoric about house prices. In conclusion, buying conditions are poor because prices aren’t affordable, but it’s a good time to buy a house because the economy is strong. You would think if the economy was very strong, people would be able to afford expensive housing.

Optimism Doesn’t Match Economic Growth

Submitted September 18, 2018 at 01:13AM by AlexPitti https://ift.tt/2DdS9eW