CNBC's "Fast Money" America’s Housing Affordability Crisis… Plus Lululemon Downward Dog 5/21/24
May 21, 2024
The podcast delves into America's housing affordability crisis, discussing soaring prices and mortgage rates affecting potential homebuyers. It also explores the challenges facing Lululemon as a company, with predictions of downward trends. Additionally, topics include interest rates' impact on the housing market, university protests, Eli Lilly's market news, ETF approval effects on Ethereum, and anticipation surrounding Nvidia's earnings.
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Housing Affordability Crisis
- Over 100 million American households cannot afford newly built homes.
- This number has increased by over 30 million in three years due to high home prices and mortgage rates.
Homebuilder Trade Outlook
- Homebuilders are currently experiencing a Goldilocks period, benefiting from favorable conditions.
- However, rising unemployment rates could impact the housing market.
Housing Market Dynamics
- High mortgage rates discourage existing homeowners from selling.
- This leads to weak existing home sales, benefiting new home sales.