BREAKING: China
Chinese Home Prices declined by the largest amount in history last month Source: Barchart
Value of U.S. Housing Market hits all-time high of $49.6 Trillion
Source: Barchart
U.S. Home prices hit record high of $426,900!
Source: Barchart
BREAKING: US new home sales plummeted -11.3% month-over-month to 619,000 in May, well below the estimated -0.2% decrease.
This was the largest decline since September 2022 when new home sales fell by ~14%. Year-over-year sales dropped by a whopping 16.5%, the most since February 2023. This also follows the Pending Home Sales decline to their lowest level since April 2020. Meanwhile, the supply of homes available for sale rose to 481,000, the highest since the 2008 Financial Crisis. The US housing market is slowing. Source: The Kobeissi Letter
% Increase over the last 5 years...
US Money Supply (M2): +42% Average US New Home Price: +44% "Inflation is always and everywhere a monetary phenomenon." - Milton Friedman Source: Charlie Bilello
Lumber prices continue to sink amid a soft US housing market
Source: The Daily Shot
Starwood Capital limits investor redemptions by up to 80% in its 10 Billion Property Fund...
Source: FT, Barchart
Want to buy a home?
1980: save for a couple years 2024: forget about it Source: Michael Burry Stock Tracker
