And more bad news for housing
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| | | | "I don’t like the clean-shaven boy with the necktie and the good job. I like desperate men, men with broken teeth and broken minds and broken ways. They interest me. They are full of surprises and explosions."
- Charles Bukowski | | | | |
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| | | | Markets Today
🌏 Asia-Pacific: Down 🇪🇺 Europe: Down
🇺🇸 United States: Down
🛢️ Oil: Down
⚡ Crypto: Up | | | | |
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| | | | Major Market Events
| | • | | Home sales freeze...again! Yesterday, it was existing homes. Now it's new homes. (link)
| | | • | | Volatility is back! It was a long slow summer (link)
| | | • | | How much longer can OpenAI exist: They're burning money like a California wildfire (link) |
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| | | | 🤔 My Thoughts
Yesterday, existing home sales fell hard. Today, new home sales fell hard. As it stands, the housing market is pretty much grinding to a halt. Another data point to consider:
In June, 14.9% of all home transactions that went under contract were canceled before closing. That's the highest since 2020, which was the highest since the GFC. So, the housing market is not looking good. | | | | |
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| | | | To Better Trading,
Alex Reid
Wealthpin | | | | |
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______________________________________________________ "I don’t like the clean-shaven boy with the necktie and the good job. I like desperate men, men with broken teeth and broken minds and broken ways. They interest me. They are full of surprises and explosions."
- Charles Bukowski ______________________________________________________ 🌏 Asia-Pacific: Down 🇪🇺 Europe: Down
🇺🇸 United States: Down
🛢️ Oil: Down
⚡ Crypto: Up ______________________________________________________ - Home sales freeze...again! Yesterday, it was existing homes. Now it's new homes. (link)
- Volatility is back! It was a long slow summer (link)
- How much longer can OpenAI exist: They're burning money like a California wildfire (link)
______________________________________________________ Yesterday, existing home sales fell hard. Today, new home sales fell hard. As it stands, the housing market is pretty much grinding to a halt. Another data point to consider:
In June, 14.9% of all home transactions that went under contract were canceled before closing. That's the highest since 2020, which was the highest since the GFC. So, the housing market is not looking good. To Better Trading,
Alex Reid
Wealthpin |
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