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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…
时政
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由
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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Chinese Flight Cancellations Brushed Off as “Global Issue” — While Propaganda Shows Ships Crossing Hormuz
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Chinese Flight Cancellations Brushed Off as “Global Issue” — While Propaganda Shows Ships Crossing Hormuz
Flight cancellations are surging across China.
Instead of addressing the real pain at home, the narrative is “it’s just a global problem.”
Meanwhile, state media floods
时政
(
twitter.com)
00:01:32