m i k e y

Cracks are showing in the real estate market. I’ve been tracking vacation house prices in a few markets, and this is the story almost everywhere. Listed high, cut, cut, cut. Every cycle it’s always the vacation homes that come down to earth first, then “normal” markets next. Unless you’re in an urban market with fundamental supply or demand pressure, the combo of high rates and a softening economy is pressuring prices. If you’re frustrated about housing affordability lately - I think the next 12-18 months is going to afford some opportunity.

Why is the core PCE rate expected to show half of the month-to-month increase that the core CPI did for August? Several areas of strength in the Aug CPI were not quite so strong in the Aug PPI components that feed into the PCE calculations. Aug PCE will be released Sept 29.

Drake “Zodiac Sign” Ft. Jessie Reyez (Full unreleased).