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JUST IN: US home prices rise by 0.9% in July according to Case-Shiller data, marking a fresh ALL TIME HIGH.
Despite mortgage rates soaring to 7.5%+, their highest since 2000, home prices are up 5 STRAIGHT months.
Year-to-date, home prices are up 5.3% which is more than the…
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The Kobeissi Letter
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JUST IN: US home prices rise by 0.9% in July according to Case-Shiller data, marking a fresh ALL TIME HIGH.
Despite mortgage rates soaring to 7.5%+, their highest since 2000, home prices are up 5 STRAIGHT months.
Year-to-date, home prices are up 5.3% which is more than the median FULL year average.
This means that home prices are outperforming the S&P 493, which is the S&P 500 minus 7 tech stocks, on a YTD basis.
All as 8%+ mortgages are on the way and existing home sales hit 2010 lows.
How can this end well?
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🚨 Not Breaking: I did not read 24,000 lines of X algorithm code on GitHub in an hour because I am not full of sh*t like the people who said they did.
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🚨 Not Breaking: I did not read 24,000 lines of X algorithm code on GitHub in an hour because I am not full of sh*t like the people who said they did.
They asked Grok to summarize it and some just made stuff up.
Here’s what I know:
1. If you post more than 9 times a day, the
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twitter.com)
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Sovey
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