Rebel Capitalist News Home Sales Hit Lowest Level EVER, Jobless Claims Spike, Feds Recession Indicator Tiggered
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Feb 28, 2025 In this insightful discussion, Chris Irons, a Contributor to Fringe Finance, dives into alarming trends in home sales hitting their lowest levels since 2001, questioning the impact of weather and interest rates. He explores the rise in jobless claims and the Fed's recession indicators, painting a grim picture of economic uncertainty. Irons criticizes the overvaluation of stocks like NVIDIA, emphasizing the need for cautious investing. The conversation encourages skepticism toward overly optimistic investment advice, advocating for independent research in today's volatile market.
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Record Low Home Sales
- Pending home sales hit their lowest level ever, unadjusted for population growth.
- This signals a significant downturn in the housing market.
Weather as a Scapegoat
- George Gammon and Chris Irons criticize the common practice of blaming weather for poor economic indicators.
- They compare it to biotech companies cherry-picking data from successful trials.
Housing Market Weakness
- High mortgage rates, combined with increased sellers and struggling consumers, point to a weakening housing market.
- Refinancing won't provide substantial relief due to small interest rate changes.