The Wall Street Journal is reporting that it was more expensive to buy a U.S. home in June than it has been in three decades, as record-high home prices collided with a surge in mortgage rates. The National Association of Realtors’ housing-affordability index, which factors in family incomes, mortgage rates and the sales price for existing single-family homes, fell to 98.5 in June, the lowest it’s been since 1989. On the other hand, just 24 hours earlier, the WSJ reported that home prices had hit a new record high in the second quarter.

In today's episode of The Higher Standard, Chris and his co-host offers thoughts and insights on this new report, particularly the way it seems to be cutting through the current rhetoric of things being all sunshine and rainbows.

They discuss the confusion many people seem to have about leading, lagging, and coincident indicators and the actual effect they have on the economy.

Chris offers some insight into the massive fall off of demand for housing, even as house prices are increasing, citing it as pent up demand from people who are trying to buy homes that couldn't do it previously.

They also offer some thoughts on recent comments by Dr. Robert Dietz, Chief Economist and Senior Vice President for Economics and Housing Policy for the National Association of Home Builders about why he thinks a tighter monetary policy from the Fed and persistently elevated construction costs have brought on a housing recession.

This is a show you do not want to miss! Join Chris for this fascinating conversation.

Enjoy!

What You’ll Learn in this Show:

• What leading, lagging, and coincident indicators really mean and how they affect the economy.
• Insights into the massive fall off of housing demand even as house prices are rising to record levels.
• Thoughts on recent comments by Robert Dietz, Chief Economist for the NAHB, and what he thinks is causing a housing recession.
• And so much more...