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IWL - August Housing Permits And Starts Continue To Support 2021 Economic Growth
iShares Russell Top 200
Introduction
Housing is a long leading indicator for the economy, typically forecasting conditions a year or more in advance. Although it is not always the case, advances - and especially declines - in housing over the past 25 years (blue in the graph below) have tended to lead advances or declines in the stock market (red, represented below by the Wilshire 5000):
Yesterday, housing permits and starts for August were released, so let’s take a look.
The positive effects of record-low mortgage rates continue
As I say almost every time I report in these numbers,