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Rebel Capitalist News
Home Sales Hit Lowest Level EVER, Jobless Claims Spike, Feds Recession Indicator Tiggered
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.
59:31
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Quick takeaways
- Pending home sales have plummeted to the lowest levels since 2001, driven primarily by high mortgage rates and economic factors.
- Jobless claims have spiked unexpectedly, indicating a potential softening in the labor market that could affect consumer spending patterns.
Deep dives
Record Low Home Sales
Pending home sales have dropped to their lowest level since tracking began in 2001, with a recorded decline of 4.6% from December. This decline appears to be inconsistent with expected seasonal influences, particularly because sales rose in the Northeast, indicating that other factors may be at play. Analysts have pointed to high mortgage rates as a significant barrier for buyers, with rates hovering around 8%. This suggests that the broader economic context, including consumer purchasing power and housing market dynamics, may be driving the significant drop in sales.
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