from #MarkZandi

this is the worst way to gauge a strong economy. when “homes are up”, people who don’t own a home are poorer, will shell out more to buy or rent shelter.

when “stocks are up” — trade at higher valuations — the public will be squezed for profits to ratify nosebleed share prices.

these prices are “wealth” to individual assetholders, but they are often the opposite of wealth in a substantive sense of wellness to society as a whole.