New home sales plummet 14.5% in March

New home sales plummet 14.5% in March

Spring buying season off with a whimper

4 metrics reveal California's true housing market

Foreclosures dwindle as home prices skyrocket

HUD’s Donovan: This is the worst rental crisis in this nation, ever

Says administration is very pleased with Johnson-Crapo
W S
Investments / The Ticker

Federal borrowing fills in instead of 'crowding out'

/ Print / Reprints /
| Share More
/ Text Size+

UBS's (UBS) Maury Harris, who is frequently recognized as the most accurate economist on Wall Street, shared an important chart with Business Insider when we had lunch with him last week.

It compares the year-over-year change in U.S. Federal government debt and home mortage debt for each year since the heyday of the housing bubble.

"Over the past six years, an around $1 1/8 trillion downsizing in per annum net home mortgage financing has accompanied an around $7/8 trillion upswing in federal borrowing per annum," said Harris.

In other words, the size of the mortgage bond market has shrunk by much more than the Treasury bond market has grown.

Read full story

Recent Articles by HousingWire Staff

Comments powered by Disqus