This is one reason why we expect Global EPS growth to come under real pressure in the coming year pic.twitter.com/ngGq7AYbpk
— Ian Harnett (@IanRHarnett) September 11, 2022
Housing has taken it on the chin as the Fed hits the brakes hard and fixed mortgage rates surge to over 6%. Home sales have crumbled, housing starts are slumping, and house prices have rolled over. But the fallout on the broader economy from the housing downturn is just starting. pic.twitter.com/Lk7QIkBHHd
— Mark Zandi (@Markzandi) September 11, 2022
World’s Hottest Housing Markets Are Down As Interest Rates Rise
Homebuyers globally are pulling back as central banks raise interest rates at the fastest pace in decades, sending house prices falling.
Americans Are Feeling Poorer: Household Wealth Shredded by Inflation and Fed Tightening: MW
Net worth falls by a record $8.7 trillion as high inflation and the stock-market crash offset gains in house prices.
https://twitter.com/MFHoz/status/1568987084395872257
https://twitter.com/MFHoz/status/1568987096983150593
https://twitter.com/MFHoz/status/1568987106025897986
https://twitter.com/MFHoz/status/1568987115672817668
Cramer and others claim we've seen the lows for this bear market.https://t.co/koPULOwmNU
The laziest pile of shit I've read in a long time. Not ONE mention of recession.
There was not one time in 75 years the market low came BEFORE the Fed stopped hiking: pic.twitter.com/Lw0XS0pou6
— Mac10 (@SuburbanDrone) September 12, 2022
Aussie house prices now falling at more than a 15% annual rate https://t.co/wcJR9Pakxe pic.twitter.com/tfnKVhFt4k
— christopher joye (@cjoye) September 11, 2022
The question isn’t IF U.S. home prices will fall, it’s HOW FAR will it fall.
— Lance Lambert (@NewsLambert) September 11, 2022
Nothing to see here, please move on. (bbg) pic.twitter.com/ATlbmnoVEK
— Michael A. Arouet (@MichaelAArouet) September 11, 2022
This kind of dollar strength runs the risk of something breaking as well… pic.twitter.com/BBzn6GDKZB
— Ian Harnett (@IanRHarnett) September 11, 2022
* GOLDMAN SACHS PREPARES FOR LAYOFFS AS DEAL-MAKING SLOWS – NYT@Reuters $GS
— Carl Quintanilla (@carlquintanilla) September 12, 2022
Yellen says she "still believes that the U.S. economy (Stonk Matrix) could have a soft landing."
*Check out this New York Times headline from 2007 right before financial crash. "Fed Chairman projects soft landing for U.S. economy." It's a fools paradise. pic.twitter.com/uG3gFyZcgH
— Minsky Moment (@BP_Rising) September 11, 2022
Sundown? Freddie Mac 30Y Mortgage Rate Highest Since Financial Crisis And Advent Of Fed Quantitative Easing (CORE US Inflation For August Expected To Rise To 6.1% YoY) https://t.co/vRrH4j4I3V
— Anthony Sanders (@AnthonyBSanders) September 12, 2022
U.S. household net worth fell in 2Q22 by $6.1 trillion; steeper drop than $143.8 billion lost in 1Q22 and $6.07 trillion lost in depths of pandemic (1Q20) … in % terms (shown in chart), -4.1% drop was among worst on record pic.twitter.com/FPq7PlnnfW
— Liz Ann Sonders (@LizAnnSonders) September 12, 2022