US housing has become the most expensive in history:
The median sale price of houses sold in the US hit another all-time high of $387,600 in May, measured as a 4-week average.
Prices increased 4% year-over-year and exceeded the June 2023 record.
Since 2021, the median home… pic.twitter.com/K9ltjcfI85
— The Kobeissi Letter (@KobeissiLetter) May 30, 2024
Pending Home Sales (leading indicator) fell to the lowest levels on record but rate hikes are somehow stimulus because people get HY returns on treasuries? Check your data. pic.twitter.com/Q8MBrjXYjW
— Don Johnson (@DonMiami3) May 30, 2024
Pending home sales, a leading indicator, plunged 7.7% in April to the lowest level since the economy was in pandemic-lockdown recession mode in April 2020. Nice to see how ineffective Fed policy is, right? pic.twitter.com/kaT8nPCig6
— David Rosenberg (@EconguyRosie) May 30, 2024