💥BREAKING:🇺🇸 US HOUSING PULTE SAYS BIG NEWS ON LISA COOK JUST RECEIVED MAJOR NEWS COMING SHORTLY. https://t.co/Z7VggbIjKG ...

Consumer Spending & Economic Indicators - Consumer spending rose by 051% month-over-month, and income increased by 04% month-over-month [4] - Wages are growing at an annualized rate of 5% [4] - Chase card spending showed an acceleration in August compared to July, indicating continued consumer spending [4] - Weekly jobless claims remain under control, below 230000, serving as a leading indicator [3] Earnings & Revenue Performance - Earnings came in at 11%, surpassing the expected 5% [7] - Revenues grew by 6%, exceeding expectations of low single-digit growth [8] Investment Opportunities - The financial industry favors banks, Freeport, and housing sectors [9][13] - Freeport's guidance for copper was raised for the second half of the year, with the stock considered cheap at seven times EBITDA [10] - Sees a recovery in housing [10] - Discretionary spending, particularly back-to-school, performed well [14] Market Outlook & Strategy - Expects a potentially rocky six weeks, particularly in September and October, but advises buying into any pullbacks [12] - Anticipates a strong fourth quarter [12] - Believes the market is broadening out, presenting opportunities in sectors beyond just tech [19][20] - Suggests ignoring political noise and focusing on deregulation, low taxes, and potential fiscal stimulus [17][18][19]

Federal Reserve & Nomination - A legal challenge is anticipated regarding Fed Governor Lisa Cook [1] - The nominee for Lisa Cook's replacement should be 100% above board, especially concerning mortgages [2] - The decision for the position is very important, with multiple individuals involved in the selection process [3][4] Economic Impact & Housing Market - High interest rates are negatively impacting the housing market's potential [4] - The current administration aims to rectify the situation quickly [5]

Core Insights - The U.S. housing market is experiencing a collective slowdown affecting buyers, sellers, and builders, leading to a sense of frustration across all groups [2][11] - Home sales are near multi-decade lows despite a 28% increase in inventory this summer, with over 1 million homes available for three consecutive months [2][11] - Elevated mortgage rates and economic uncertainty are causing stakeholders to retreat, resulting in a market characterized by a collective pause rather than a crisis [2][11] Buyers - Affordability remains a significant challenge for buyers, with the national median list price around $440,000 and monthly payments over $1,200 higher than in 2019 [3][4] - Only 28% of homes on the market are affordable for the typical household earning the U.S. median income of $78,770 [4] Sellers - Sellers are hesitant to lower prices, leading to an increase in the delisting-to-new listing ratio, which rose to 0.21 in June 2025 [5][6] - This reluctance to adjust prices is contributing to stalled transactions and maintaining elevated prices, exacerbating affordability issues [6] Builders - Builders are facing declining activity, with single-family home construction down and permits falling by 4.4% compared to last year [7][8] - High financing costs, weak buyer demand, and new tariffs on building materials are causing developers to be cautious, despite a national shortage of approximately 4 million homes [8] Regional Divergence - The housing market shows significant regional differences, with the South and West experiencing an oversupply leading to slower sales and price declines, while the Northeast and Midwest maintain tight markets with resilient demand [9][10] Outlook - The housing market is not in crisis, as most homeowners have substantial equity and are locked into low interest rates, suggesting potential for a healthier market as interest rates ease [11]

Core Insights - Boxabl Inc. has acquired 10 Bitcoin as part of its treasury reserve strategy, which was first announced in May 2025, highlighting the company's commitment to diversifying its financial reserves [1][2] - The purchase of Bitcoin is aimed at hedging against inflation, diversifying the portfolio, and preserving long-term value, with the 10 BTC acquired at an average price of approximately $107,800 each [2] - Boxabl is in the process of merging with FG Merger II Corp., which will allow it to become a publicly traded company on Nasdaq with a valuation of approximately $3.5 billion [3] Financial Position - The company has raised over $230 million from more than 50,000 investors, strengthening its financial foundation for long-term growth [3][4] - The integration of Bitcoin into its treasury reflects a forward-thinking financial strategy, reinforcing confidence in Bitcoin's long-term value [3] Operational Goals - Boxabl aims to balance traditional assets with innovative investments, including Bitcoin, to support its operational goals, particularly in producing its flagship Casita modular home and expanding into new markets [3] - The company's patented technology focuses on affordability, sustainability, and scalability in the housing industry [4]

Market Trends & Rotation - Big tech names like Palantir, Oracle, and Coinbase are selling off, underperforming on the S&P 500 [1] - The equal weight S&P 500 ETF (RSP) is starting to outperform the MAG7 heavy S&P 500 ETF [1] - Small cap value, midcap value, and large cap value are trading around or below their historic multiples, making them potentially attractive compared to expensive large cap tech [3] - The market is heavily anticipating Fed rate cuts starting next month, but core inflation remains around 3%, a range where the Fed historically holds or increases rates 94% of the time [5][6] Investment Opportunities & Strategies - Value stocks are poised to outperform due to lower entry multiples [4] - Focus on consumer stocks in the high-end (>$100,000 income) and low-end segments, while being cautious on the mid-tier consumer ($50,000-$80,000 income) due to tariff impacts [12][13][14][15] - Home Depot and Costco are favored in the higher-end consumer segment, while Walmart is favored in the lower-end [13][14] - Housing-related names like Residio and Mohawk are attractive due to pent-up demand and low multiples [16][17] Economic Factors & Risks - Short-term bearishness on inflation is expected over the next 6-9 months due to tariffs impacting prices [10] - Longer-term optimism is driven by the potential for AI to increase productivity [10] - Interest rate cuts are important for value names, especially those sensitive to interest rates and housing-related sectors [9]

value has been quietly outperforming growth this month. He says the shift is real. Joining me now, Charles Bravinskoy, vice chairman of Aerial Investments.It's good to see you today, Charlie. Okay, first of all, what do you make of the investments in uh Dr. . Horton and Lenar because you know I was looking at the front page of the Wall Street Journal right before I came on.Nobody's buying homes. Nobody's switching jobs. That's the headline.Yeah, I think uh it's clearly Buffett related here. He Buffett think ...

Housing Affordability Challenges - Regulatory issues, particularly at the state and local levels, contribute to the difficulty in loosening up housing market constraints [1] - Regulatory pressures, including impact fees and other costs absorbed by builders, significantly add to the cost of housing [2] - High land prices necessitate builders to renegotiate with land developers on option contracts to price homes more affordably [2] Potential Solutions and Considerations - Renegotiating land option contracts can help builders price homes more affordably [2] - Simply building more rental housing may not solve the inequality gap [3]

Core Viewpoint - The article discusses the decision-making process for purchasing either one 140 square meter apartment or two 70 square meter apartments, emphasizing the importance of individual circumstances and goals in making this choice [1]. Group 1: Purpose of Purchase - The choice between a 140 square meter apartment and two 70 square meter apartments should be based on the buyer's purpose. If the buyer has a large family and sufficient financial resources, a larger apartment may be preferable. Conversely, if the intention is to rent out one unit to cover mortgage payments, two smaller apartments may be more advantageous [3]. Group 2: Financial Situation - The financial capability of the buyer plays a crucial role in the decision. For those with a strong financial position, a single larger apartment may provide a more comfortable living situation. However, for buyers with average financial means, investing in two smaller apartments can serve as a better investment strategy, potentially benefiting from future price appreciation [5]. Group 3: Family Size Consideration - The size of the family is a significant factor in the decision. For a family of three, a 70 square meter apartment may suffice, while the second unit can be rented out, generating additional income. In major cities, the rental income from a 70 square meter apartment can reach 4,000 to 5,000 yuan per month. If the family prioritizes living quality, a larger 140 square meter apartment may be the better choice [7].

Core Viewpoint - The report from Linping Housing Big Data Research Institute indicates that the housing price-to-income ratio in 100 key cities is projected to be 10.0 in the first half of 2025, a decrease of 2.9% compared to 2024, marking a continued decline since 2019, with a nearly 30% drop since then [1][3]. Summary by Sections Housing Price-to-Income Ratio Trends - The decline in the housing price-to-income ratio since 2023 has shifted from being driven by "income growth" to "housing price decline," leading to reduced household assets and impacting purchasing confidence and income expectations [3]. - The rate of decline in the housing price-to-income ratio for the first half of 2025 is significantly smaller than the sharp declines observed in 2023 and 2024 [3]. Regional Performance - The housing price-to-income ratio is positively correlated with the economic conditions of the regions, with economically developed areas generally exhibiting higher ratios. The top three economic circles with the highest ratios are the Straits Economic Circle (15.1), the Pearl River Delta (13.9), and the Yangtze River Delta (10.8), indicating significant purchasing pressure for residents [4]. - Xiamen and Fuzhou, both located in the Straits Economic Circle, rank among the top 15 cities with the highest housing price-to-income ratios for the first half of 2025, with ratios of 21.1 and 16.7, respectively [5][6]. Overall Market Outlook - Overall, the housing price-to-income ratios across eight major regions are expected to continue declining in the first half of 2025, with decreases ranging from 1.5% to 3.4%. The Straits Economic Circle is noted as having the highest ratio and the largest decline, influenced by significant price drops in cities like Xiamen and Fuzhou, as well as a slowdown in income growth [8].