Paul Krugman

@paulkrugman ↗

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Last Checked Dec. 5, 2022

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Thu Oct 27 12:57:56 +0000 2022

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Paul Krugman @paulkrugman

It's useful to compare the latest numbers with 2021Q4, before the tightening began. Real residential investment is down 12.5%, not trivial but still fairly small given the surge in mortgage rates and the collapse in mortgage applications 3/ https://t.co/Ve3FrougOb — PolitiTweet.org

Posted Oct. 27, 2022

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Paul Krugman @paulkrugman

Since the beginning of this year, we've seen soaring mortgage rates and a soaring dollar, both largely reflecting Fed tightening. Both should exert strong contractionary effects over time 2/ https://t.co/0eEewwdgTh — PolitiTweet.org

Posted Oct. 27, 2022

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Paul Krugman @paulkrugman

So there's probably a significant amount of housing contraction still ahead. And real net exports were actually less negative in 2022Q3 than in 2022Q4; this isn't sustainable given the surging dollar, which will hit trade flows but with a long lag 4/ — PolitiTweet.org

Posted Oct. 27, 2022