"Minneapolis Fed President Neel Kashkari's recent claims about high housing demand are misleading, as housing starts and permits are currently at recession levels, far from what the data suggests."
"While Kashkari asserts higher clearance rates should reflect increased housing demand, the reality is that existing home sales have hit record lows for three consecutive years, which contradicts his statement."
"Data indicates that builders are more likely to increase the construction of new homes when mortgage rates approach 6%. However, there is a noticeable slowdown when rates rise above 6.75%."
"Current housing starts and permits report from Census reveals a troubling trend with rates falling and existing sales remaining dismally low, indicating a severe lack of market confidence."
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