Waning Confidence

I am back in the saddle after a two week hiatus; only one of which weeks was actually spent on vacation and the other week was spent preparing for and catching up from said time away.  We took the family to San Francisco to walk the streets, bike the bridge, explore the woods, and take in a couple of ballgames.  I didn’t think that I would enjoy the city as much as I did and can’t wait to get back.

But enough about me, let’s talk about boring stuff.  The nation’s home ownership rate declined yet again to a paltry 63.4%.  This is the lowest percentage of Americans who have owned homes since 1967–back when you had to have a 20% down payment to get financing.  It might have something to with the collective mentality of the consumer.  The numbers out today show that Consumer Confidence slipped 10% from last month’s reading.