U.S. Economic News
November 30, 2020
U.S. Economic Indicators
The National Association of Realtors Pending Home Sales Index fell 1.1% in October (up 20.2% Y/Y). NAR reports that the combination of scarce housing, low mortgage rates, and strong demand are starting to push home prices to levels that may hurt affordability. NAR Report
U.S. News
The Wall Street Journal reports that President-elect Joe Biden intends to nominate a series of both liberal and centrist economic advisers to fill out the top economic policymaking positions in his administration. Several of these advisers played key roles in dealing with the aftermath of the last financial crisis, and many members of the new team have stated that aggressive stimulus is necessary to get the economy back to its pre-pandemic health and the benefits of spending now far outweigh the risks of spending or borrowing too much. WSJ