Has The Homebuilder Rally Gotten Ahead of Itself? And Are Psychedelics the Next Cannabis Trade? 6/27/23
CNBC's "Fast Money"
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The Reset of Mortgage Rates
The new home market looks really strong with a huge backlog in terms of existing homes. We saw that peak as you mentioned in June of last year, and then it went down to January of this year sort of recovered from there. So now we came back to maybe negative 2.2% or perhaps next month we're going to see home prices flat. This is not some kind of crash in prices that people thought were going to reset the market and help buyers get back in.
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