Regulatory & Institutional Adoption - Guotai Junan receives approval, marking the first Chinese state-backed Bitcoin trading [1] - Deutsche Bank launches custody services [1] - Sparkassen reverses its 3-year ban on Bitcoin [1] - Fannie Mae and Freddie Mac now consider Bitcoin in mortgage assessments [1] Market Dynamics & Investment Flows - Corporate Bitcoin holdings show companies bought 160,000 BTC versus 40,000 BTC mined in Q2, indicating strong demand [1] - Spot ETF inflows reached $46 billion last month [1] - Daily Bitcoin flows surpass gold, with $117 billion compared to $95 billion [1] Price Impact - Stock experiences a +200% increase [1] - $15 trillion in Assets Under Management (AUM) is potentially unlocked [1] - A potential supply shock is anticipated [1]

.@Pulte’s directive could bolster both crypto and housing significantly. I do not believe that the ramifications of this move are well-understood. Find @GrousARK’s early analysis in our ARK Disrupt newsletter on Monday at https://t.co/4GzS1p9lDa.Pulte (@pulte):After significant studying, and in keeping with President Trump’s vision to make the United States the crypto capital of the world, today I ordered the Great Fannie Mae and Freddie Mac to prepare their businesses to count cryptocurrency as an asset fo ...

Investment Rating - The report does not explicitly provide an investment rating for the housing market but discusses various trends and dynamics affecting housing prices and affordability globally. Core Insights - Global home price gains persist despite rising policy rates, although the pace of home price appreciation is slowing [20] - The global housing affordability crisis is deepening due to supply/demand imbalances and elevated rents [21] - The US housing market is characterized as frozen, with declining demand and homebuilder sentiment alongside high mortgage rates [23] - Shelter inflation is likely to return to pre-pandemic levels, but rising rents have compounded cost-of-living challenges [20] - Demographics and household formation support long-term demand, and any housing correction in the short term would likely be modest [20] Summary by Sections Global Housing Market Trends - Home prices have increased by 37% on average over the past decade, with significant growth recorded in countries like Iceland, Portugal, and Hungary [32] - The OECD reports that real home prices have increased by 16% relative to income [32] - The global housing affordability crisis is now a common theme, with many OECD countries facing worse issues than the US [49][56] US Housing Market Dynamics - The US housing market is experiencing a significant decline in demand, with home sales in 2024 being the lowest since 1995 [23] - Housing starts fell approximately 9.8% in May, and the issuance of building permits hit a five-year low [23] - The median sales price of existing homes rose by 1.8% despite fewer home sales [23] Affordability Challenges - Housing affordability in the US has declined almost 30% since December 2021, nearing levels last seen in the late 1980s [51] - The housing affordability index in the US plunged from about 150 in 2021 to the mid-80s by 2024 [49] - Many households are spending over 40% of their income on housing, indicating a severe affordability crisis [51] Regional Disparities - The report highlights divergent trends across the US, with densely populated urban centers facing decreases in demand while suburban and rural areas see demand increases [84] - The Sunbelt region is experiencing higher vacancies and an oversupply of luxury apartments compared to coastal markets [88] Future Outlook - Despite the current challenges, the report suggests that risks to financial stability from the housing market appear manageable [21] - The report anticipates that any housing correction in the short term would likely be modest due to ongoing demographic support for demand [20]

🗞️ Metaplanet buys more bitcoin, surpassing Tesla to become 5th largest corporate holder🗞️ Bill Pulte orders Fannie Mae & Freddie Mac to consider Bitcoin holdings for mortgages.🗞️ SEI prices soar 50% amid Wyoming stablecoin pilot.@jennsanasie hosts "CoinDesk Daily." 🔗👇Thank you @hodlwithledn 🤝 : for being a sponsor of the CoinDesk media network. ...

Market Trend - Fannie Mae and Freddie Mac are preparing to count crypto as assets for mortgages [1] - Industry anticipates potential for tokenization and limited supply strategies in the crypto market [2] Investment Opportunity & Potential Risk - Potential strategy to short the housing market using crypto assets is being discussed [2] - Market participants are considering scenarios involving supply manipulation and subsequent market flooding [2]

Investment Strategy & Portfolio - Pentwater Capital, an event-driven hedge fund, manages $7 billion in assets [1] - The fund held an economic interest in US Steel exceeding $1 billion [5] - Pentwater Capital has a $1.3 billion face value position in Fannie and Freddie preferred stock [16] Fannie and Freddie Privatization - The fund believes the Trump administration will release Fannie and Freddie from conservatorship and allow them to be relisted [8] - The fund believes the preferred stock has more appreciation potential than the common stock due to potential dilution of common shareholders [9][13][14] - The fund anticipates the government might convert its senior preferred shares into common stock, potentially diluting common shareholders [12][13] - The fund believes privatizing Fannie and Freddie will occur before the end of the current administration [14][15] US Steel Acquisition - The fund correctly predicted the closing of the US Steel acquisition by Nippon at $55 [2] - The acquisition involved a "golden share" provision, a novel concept in the United States [4] - The fund actively engaged with senators and the administration to advocate for the US Steel deal, highlighting Nippon's $14+ billion investment in Pennsylvania [3][4]

Regulatory Action - Federal housing regulator instructs Fannie Mae and Freddie Mac to study cryptocurrency evaluation in mortgage applications [1] Potential Impact - The move could help more crypto holders qualify for home loans [1]

Policy & Regulation - Fannie Mae and Freddie Mac are ordered to prepare their businesses to count cryptocurrency as an asset for a mortgage [1] - The order aligns with President Trump's vision to make the United States the crypto capital of the world [1]

We're back with some news on the housing front. We'll go to Washington. Diane Olic has that for us.Hey D. Hey Scott. Yeah, this is from the FHFA director Bill PY.He is the conservator of Fanny May and Freddy Mack. He just posted on X after significant studying and in keeping with President Trump's vision to make the United States the crypto capital of the world today. I ordered the great Fanny May and Freddy Mack to prepare their businesses to count cryptocurrency as an asset for a mortgage.Interesting. In ...

Imagine using your Chillhouse as collateral for getting a Chill HousePulte (@pulte):After significant studying, and in keeping with President Trump’s vision to make the United States the crypto capital of the world, today I ordered the Great Fannie Mae and Freddie Mac to prepare their businesses to count cryptocurrency as an asset for a mortgage.SO ORDERED https://t.co/Tg9ReJQXC3 ...