This morning on The Call @ Hedgeye, Macro & Housing analyst Josh Steiner and Hedgeye CEO Keith McCullough discuss recent housing data that continues to slide downward in #Quad4.
“What’s interesting about that drawdown in mortgage demand is that it’s in-line with the drawdown on a percentage basis for the price of Copper and Oil,” explains McCullough. “Things are getting worse at a much faster rate here in the last three weeks.”
“This isn’t just happening randomly, this is also what the Fed wants,” notes Steiner. “The Fed wants to destroy the housing market and slow broad-based consumption in a controlled demolition of the economy. The problem is at a certain point is it will go from controlled to uncontrolled.”
