US Housing Market Starting to Rebound

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This post is dedicated to Karl Smith:

Sales of newly built single-family homes rose to their highest level in more than two years last month, adding to evidence that the U.S. housing market is on the mend and no longer dragging down the broader national recovery.

…”This is the first time I have heard any kind of pulse in the home building business in the last five years, and I think it is legitimate,” said Stuart Hoffman, chief economist for PNC Financial Services Group. “The housing market will be a source of strength to the economy for the first time in years.”

Karl has been trying to figure out for a while why his prediction of a resurgent housing market turned out to be incorrect, but perhaps he was only off on the timing a bit. I’m still on the fence about his theory that pent-up demand for housing will drive economic recovery, but this is a data point in its favor.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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