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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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Just because AOC, Kerry, or Gore absurdly predict the end of the world is near or some other bonkers climate claim of the day, doesn’t mean the rest of us must play along, or that extreme economic pain should be forced upon Americans who can least afford it. Discussed this and
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Just because AOC, Kerry, or Gore absurdly predict the end of the world is near or some other bonkers climate claim of the day, doesn’t mean the rest of us must play along, or that extreme economic pain should be forced upon Americans who can least afford it. Discussed this and
btc
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twitter.com)
00:01:27