Existing Homes Sales Have Declined For Six Straight Months

Sales of existing homes have been declining for the past half year:

The Wall Street Journal has more:

“Without a doubt there is a clear shift in the market, as evidenced by lower sales and more inventory,” said Lawrence Yun, the trade group’s chief economist. “We’re also seeing soft data in foot traffic. [It] has notably slowed in previously super heated markets.”…Meanwhile, mortgage rates have risen in the past year and appear to be nearing 5%, a threshold analysts say could deter many from purchasing a home. The average interest rate on a 30-year fixed-rate mortgage in September was 4.63%, up from 4.03% in January, according to Freddie Mac.

Hum de hum. Just another data point in our strong yet somehow skittish economy.

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Truth #1: The chaos is the point.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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