Friday: Personal Income and Outlays, Employment Cost Index, Chicago PMI, Consumer Sentiment

Earlier today, the UCLA Ziman Center for Real Estate released some predictions for 2016: [W]e are forecasting housing starts of 1.14 million units this year and 1.42 million units and 1.44 million units in 2016 and 2017, respectively. ... Our forecast is underpinned by continued growth in real GDP that will likely run at 3% in 2016, continued jobs gains in excess of 200,000 a month for most of the forecast period, relatively low mortgage rates at least through 2016 and household formations in excess of one million a year in 2016 and 2017. This housing start forecast for 2016 seems way too......(read more)

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