The unemployment rate held steady at 5.1% in September, but only because we hit a 38-year low in terms of the total number of people who are either employed or looking for employment (i.e., people not looking for jobs don’t count towards unemployment). That’s not good news for America as a whole — but it’s great news for those of you who are employed, because it means that mortgage rates fell again. With the 30-year average approaching the all-time, historical lows of 2012.

This blog has written a few times over the last months on the influx of foreign capital into the U.S. housing market. This weekend, the major news sources are covering that again, because of the new statistic that almost 50% of these purchases are all cash. But, what is actually happening to the market as a whole? Adam Taggart did a fairly thoughtful analysis on the market as a whole in the context of supply, demand, and the global economy. I don’t know how reliable a forecaster he is, never having followed his stuff before, but it makes for a very interesting read.

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