"Inflation is coming down"

[Elliott]

(WSJ 7/23/24) "Home prices hit a new high in June for the second straight month, the latest sign that the housing market is unaffordable to millions of Americans. "

The national median existing-home price in June rose to $426,900, a record in data going back to 1999 and a 4.1% increase from a year earlier, the National Association of Realtors said Tuesday. Prices aren’t adjusted for inflation. “We are seeing more inventory, but we are not seeing increased sales,” said Lawrence Yun, NAR’s chief economist. “We may be moving away from a sellers’ market towards balance, and may be entering a buyers’ market.”

 

[Terrel L. Shields]

Sales down, prices up. Contrary to expectations. So, inflation is finally 'flattening the curve' at a ghastly high level that is unlikely to ever fall.

Does anyone expect that with food prices falling, that restaurant prices will follow? I'd be shocked if true. Meanwhile wages languish.

 

[shrubberyvaluation]

It's about 35% of the voting public, liberal arts graduates one and all.

You mean the loan forgiveness grift?

 

[TerryRohrer]

You mean the loan forgiveness grift?

Lost in all the recent excitement was a court ruling slowing that theft, at least for now. With appeals, should be in Trump's court to stop it.

https://www.forbes.com/sites/adamminsky/2024/07/19/student-loan-borrowers-face-devastating-impacts-after-court-halts-loan-forgiveness-plan-says-official/

 

[Fernando]

(WSJ 7/23/24) "Home prices hit a new high in June for the second straight month, the latest sign that the housing market is unaffordable to millions of Americans. "

The national median existing-home price in June rose to $426,900, a record in data going back to 1999 and a 4.1% increase from a year earlier, the National Association of Realtors said Tuesday. Prices aren’t adjusted for inflation. “We are seeing more inventory, but we are not seeing increased sales,” said Lawrence Yun, NAR’s chief economist. “We may be moving away from a sellers’ market towards balance, and may be entering a buyers’ market.”

View attachment 89368

Back in 2012 I was predicting the bottom was near and I was right.
if you look at the market from recent past and at current real time, you can sense where the market is heading.

 

[Joe Flacco]

Where active listings are increasing is very concentrated. There are pockets and places where active listings are skyrocketing and most places it not moving meaningfully from lows.

 

[Joe Flacco]

This is what my area looks like. Active listings still sitting near lows in the suburbs but most listings since 2010-2011 in the city.

 

[Fernando]

Stock market back up. Past declines were a worrisome sign of a downward trend but everything is fine again.

 

[OSU Beavers]

Good news everyone, used car prices drop as dealer lots are full of repos from people who could not afford their payments.

More good news, new car prices are also down inspite of low rate manufacturers financing because people just don't have the money for a new car. Another win for Bidenomics.

Heck, people can't even afford cheap pizza!

Domino's Stock Falls After Pizza Giant's Sales, Net Income Miss Estimates

The pizza-delivery giant reported second-quarter revenue that missed expectations, and pulled back expansion plans overseas.

www.investopedia.com

 

[OSU Beavers]