because a person's house / home is a big source of his personal wealth, whatever happens there will soon be felt in the stock market.
"previously occupied single-family home sales dipped by 1.1%. Meanwhile, the Commerce Department said the median price of a new home fell last month by nearly 5% to $249,700."
Could be. Probably not though. New home sales surged in June to the highest level since May of 2008.
May of 2008? Excellent-that was when pundits called the steepening yield curve an indication that an economic boom is just beginning-a few months later the debt riddled financial system was crushed.
Sentiment: Strong Sell