Animal Spirits: One thing Has to Break

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Austin:

RWM is coming to Austin, TX June Twelfth-14th‼️

@Downtown with extra particulars⬇️Electronic mail us at [email protected] topic line “Austin” to order a gathering slot! pic.twitter.com/9iSdG4HFf3

— Ritholtz Wealth (@RitholtzWealth) Could 19, 2023

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To paraphrase myself from one other time:

Investor frustration typically stems from not having the ability to bridge the hole between what they suppose *ought to* occur versus what *is* taking place.

— Ed Borgato (@EdBorgato) Could 26, 2023

Apple and Microsoft, with market valuations of roughly $2.7T and $2.3T respectively, maintain such substantial positions within the S&P 500 that if mixed, they might rank because the third-largest sector throughout the index, surpassing each the power and monetary sectors in measurement.… pic.twitter.com/q3EfG3eQ78

— Beth Kindig (@Beth_Kindig) Could 26, 2023

* U.S. SCREENED NEARLY 9.8 MILLION AIRLINE PASSENGERS OVER FOUR-DAY HOLIDAY WEEKEND, TOPPING PRE-COVID 2019 LEVELS BY 300,000 — @TSA@reuters

— Carl Quintanilla (@carlquintanilla) Could 30, 2023

🚨 The common 30-year fastened mortgage price ticks as much as 7.01%—that is the best studying since SVB failed.

Unfold: 329 bps 👀 pic.twitter.com/QIUHFN5wF7

— Lance Lambert (@NewsLambert) Could 23, 2023

Mortgage charges again to 7%.

Which means that the associated fee to purchase a home in America is now approaching $2,700/month when together with mortgage, tax, insurance coverage, and upkeep.

In the meantime, value to hire is $1,850.

Greatest hole we have ever seen. One thing has to interrupt. pic.twitter.com/gC1ffJXKmL

— Nick Gerli (@nickgerli1) Could 22, 2023

Pandemic dwelling value bubble deflating

U.S. dwelling costs rose 0.7% for the yr ending March, the smallest 12-month enhance since 2012 https://t.co/S7BhlqAC6R

YoY declines in:
Seattle (-12%)
San Francisco (-11%)
Las Vegas & Portland, Ore. (-5%)
Phoenix & Denver (-4%)
LA (-3%) pic.twitter.com/3l3w5gIKw8

— Nick Timiraos (@NickTimiraos) Could 30, 2023

$TOL (Toll Brothers) really raised dwelling costs by a mean of $25,000 per dwelling over the previous quarter.

They’re additionally elevating their steerage for gross margins, new dwelling deliveries & new dwelling costs for the remainder of the fiscal yr.

Planning for continued group depend development

— Chase Emmerson (@AZLandInvestor) Could 24, 2023

$UBS analyst: “Have you ever seen any impression to demand to this point and if charges kind of keep at 7% would you count on incentive exercise and cancellation charges to choose again up once more for the trade?”$TOL CEO: “We’ve not seen any drop in exercise over the previous couple of weeks…”

— The Transcript (@TheTranscript_) Could 29, 2023

Ouch: 1 in each 5 flipped houses was offered at a loss in 1Q23.

Arduous for anybody on the resale facet to compete in a market the place builders can provide charges underneath 5.5%. pic.twitter.com/pHO53xwh6B

— Alex Thomas (@housing_alex) Could 23, 2023

Netflix revealed 5M ad-tier subscribers final week, per @Reuters – at $7/mo, the tier is already at a >$100M quarterly run price and can monetize at the next price than different plans, doubtlessly boosting the underside line.$NFLX

— Beth Kindig (@Beth_Kindig) Could 22, 2023

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