Simple solution: raise rates, which will in turn lower home prices. Or keep going down this never-ending rabbit hole of lowering rates which will in turn raise home prices even more. Your choice. Call it. Bullish for housecoin either way.
The Kobeissi Letter
The Kobeissi Letter25.7. klo 06.45
BREAKING: US existing-home sales fell -2.7% MoM in June, to an annual rate of 3.93 million, the lowest in 9 months. Existing-home sales are now near their lowest level in 15 years. By comparison, the pre-pandemic average was ~37% higher. This comes as high mortgage rates are keeping home sales stuck at cyclical lows. Meanwhile, the median sales price rose +2% YoY last month, to a record of $435,300. The housing market remains historically unaffordable.
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