It will be a busy week … a few coming highlights: Tuesday: Case-Shiller Home Price Index for August (expect another increase). Wednesday: Durable goods orders and New Home Sales. Thursday: Q3 GDP (Consensus is 3.0%). *************************************** A few articles and graphs from last week: A comment: Existing Home Sales: More Activity, Little Achievement From Dave Altig at Macroblog: The growing case for a jobless recovery Freddie Mac: Delinquency Rate Rises to 3.33 Percent Problem Bank List (Unofficial) Oct 23, 2009 From Tami Luhby at CNNMoney: 7,000 unemployed Americans lose their lifeline every day *************************************** Click on graph for larger image in new window. This graph shows the builder confidence index from the National Association of Home Builders (NAHB). The housing market index (HMI) decreased to 18 in October from 19 in September. The record low was 8 set in January. Note that Traffic of Prospective Buyers declined sharply. This is still very low – and this is what I’ve expected – a long period of builder depression.

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