E Housing Stock Indexes Continue To Fall

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The chart below shows the performance of three U.S. housing stock indexes this year. They are all down YTD, with the Home Construction Index down the most (almost 25%). If the high in January is used as a reference level, then both the Home Construction Index and the Housing Sector Index are in bear market territory (given one defines a bear market as a 20% decline from highest close). To me, this performance is of great concern.



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