US pending home sales just crashed back near record lows in July.
Housing market remains frozen. High rates + elevated prices = nobody's moving. Inventory stays tight, transactions dry up, and the "soft landing" narrative conveniently ignores that housing—the largest household asset—is completely locked up.
Fed's still acting like everything's fine while the real economy shows serious cracks. This isn't bullish for consumer spending or economic momentum.
Watch mortgage REITs, homebuilders like $DHI $LEN, and housing-related ETFs. If this weakness persists into fall, it's a macro red flag.
Housing market remains frozen. High rates + elevated prices = nobody's moving. Inventory stays tight, transactions dry up, and the "soft landing" narrative conveniently ignores that housing—the largest household asset—is completely locked up.
Fed's still acting like everything's fine while the real economy shows serious cracks. This isn't bullish for consumer spending or economic momentum.
Watch mortgage REITs, homebuilders like $DHI $LEN, and housing-related ETFs. If this weakness persists into fall, it's a macro red flag.