Sales of second-hand homes are on the up, hitting an annualized level of 5.48 million in October, better than 5.42 million expected and 5.37 million beforehand. The rise is accompanied by another interesting fact: the level of inventories is at its lowest since 1999 – yes before the previous crisis and also 18 years ago.
The good news fails to impress the US dollar, which is not rising even against weak currencies.
Why is the dollar weak? Perhaps worries are mounting. Congress is now in recess ahead of Thanksgiving. The hot topic on the agenda is the tax reform. As time passes by, opposition to the tax bill can accumulate, as it was never popular.
