Folks on the ground are already reporting that residential construction is starting to roll over, but it is a gradual process and there are lags in reporting. Being data dependent on lagging data will continue to lead to policy errors. I'll front run it no problem, but for those living paycheck to paycheck, this is going to be painful and possibly lead to additional fiscal and monetary errors.
Anecdotally, this week I had a roofer knock on my door offering a "free inspection" and then a different one call me with a similar deal. # of roofers reaching out prior to this week (going back a decade). Zero.
Folks on the ground are already reporting that residential construction is starting to roll over, but it is a gradual process and there are lags in reporting. Being data dependent on lagging data will continue to lead to policy errors. I'll front run it no problem, but for those living paycheck to paycheck, this is going to be painful and possibly lead to additional fiscal and monetary errors.
Baffling!
Anecdotally, this week I had a roofer knock on my door offering a "free inspection" and then a different one call me with a similar deal. # of roofers reaching out prior to this week (going back a decade). Zero.