The US housing market is flashing warning signs, with pending home sales dropping to their lowest levels in over a decade. As buyers retreat and inventory sits, record cancellation rates on purchase contracts indicate a shifting dynamic that favors renters in the short term while placing immense pressure on sellers.
Coupled with sticky inflation data driven by fuel costs, the Federal Reserve is heavily favored to pause rate hikes at their next meeting. Meanwhile, major banks are reporting mixed earnings, and technological leaps from companies like Tesla could soon create entirely new income-generating asset classes for everyday investors.
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