Industry NewsMarkets & Economy

Rising prices will drive housing sales for years to come

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

The market response to QE3 has been different than to the first and and second rounds of "quantitative easing." It's subdued this time. The initial upward burst in stocks has fizzled, and the run to commodities by those either fearful of inflation or hoping for it has also stalled. The 10-year Treasury note jumped almost to 1.9 percent from summer in the 1.5s, but has now retreated to 1.75 percent.Only mortgages have behaved as expected, sitting at or slightly below the 3.5 percent all-time low, depending on the deal.The usual weekly run of data on the current economy shed no new light, but deeper reports on credit and housing did enlighten, as did -- may the saints preserve us -- news from domestic politics.Republican columnist David Brooks this week nailed Mitt Romney as behaving like Thurston Howell III, the clueless ascot-throated boob of "Gilligan's Island." Romney had done poorly while cast as a Wall Street sharpie. Boob is fatal. Me...