It looks like the consumer is in a virtuous cycle and it shows with a surge in consumer confidence in September to 103 defying expectations of a drop from last month's rise. Yesterday's numbers also bolstered this view of a resurgent consumer with the August Personal Consumption Expenditure beating expectations, up .4% last month and 3.5% over last year, along with a healthy Personal Income rise of 0.3%.
"Housing prices rose 5% year over year in the last 12 months through July according to the Case Shiller index with every city in the survey notching gains", says Voya Global.