Investor euphoria persists despite recent market drops, raising concerns about the absence of hard lessons since 2009. Glenn Kelman’s insights resonate deeply with real estate professionals, highlighting a housing recession amid a booming economy. As monetary policy falters and debt cycles override business cycles, the strain on households becomes palpable, reflected in record-high credit card debt and stagnant income growth for most Americans.
Investor sentiment remains firmly in 'euphoric' territory, even following the drop last week. #MacroEdgeVision pic.twitter.com/NfXLelSNIS
— MacroEdge Vision (@MacroEdgeVision) April 21, 2024
The things @glennkelman says in this Fortune article hit hard with what every Real Estate Professional has experienced in the last 3 years
Housing is in a recession while the rest of the economy booms 💥
The rate hikes are “not working” in terms of housing affordability
➡️… pic.twitter.com/n1y0F7r5Bz
— Amy Nixon (@texasrunnerDFW) April 21, 2024
fortune.com/2024/04/17/housing-market-economy-booming-housing-recession-redfin-ceo/
"8 days in a row of new lows > new highs. This has not been a smiley face week for stocks."@WillieDelwiche @HiMountResearch pic.twitter.com/C1pFwcYwHw
— Daily Chartbook (@dailychartbook) April 20, 2024
This is beyond the wildest imagination:
Nvidia, Amazon, Meta, and Google earnings combined are expected to grow by 79.7% in Q1 2024.
The remaining 496 S&P 500 companies are estimated to report profit growth of JUST 0.3% for Q1.
S&P 500 profit is not growing without the Big 4. pic.twitter.com/65H4sPgRia
— Global Markets Investor (@GlobalMktObserv) April 21, 2024
The US credit card debt has already reached $1.1 trillion in March, an all-time high.
Moreover, even when adjusted for inflation credit card debt has hit a record, surpassing the 2020 levels.
Are US consumers' finances seriously stretched?
Read below👇t.co/ivOy8TaVSj
— Global Markets Investor (@GlobalMktObserv) April 21, 2024