US Existing Home Sales fell for the 11th consecutive month, down 34% over the last year. This was the 2nd largest YoY decline on record (largest was last month).

US Existing Home Sales fell for the 11th consecutive month, down 34% over the last year. This was the 2nd largest YoY decline on record (largest was last month).

Following the same pattern as the last housing bubble: Affordability collapses -> Sales plummet -> Prices decline... pic.twitter.com/m5K0Skpmd7

— Charlie Bilello (@charliebilello) January 20, 2023

38,815 tech workers have been laid off in 2023

Good Morning Everyone! Layoffs announced YTD:

- Google: 12,000 (6% of workforce)
- Microsoft: 10,000 (5%)
- Salesforce: 8,000 (10%)
- Amazon: 8,000 (2%)

38,815 tech workers have been laid off in 2023 pic.twitter.com/dN1RCD8Phe

— Genevieve Roch-Decter, CFA (@GRDecter) January 20, 2023

The labor rotation out of useless zero-risk money created Millennial make work jobs, what Obama calls 'shovel ready,' and into jobs where you shovel dirt and not woke bullshit.  https://t.co/8eOrfYVbRl

— Tom Luongo (The Bots Have Returned!) (@TFL1728) January 21, 2023

"median American household would need to spend 46.4% of their income to afford payments on a median-priced home in the US"

The median American household would need to spend 46.4% of their income to afford payments on a median-priced home in the US, the highest % on record with data going back to 2006. pic.twitter.com/xHpjivN0J5

— Charlie Bilello (@charliebilello) January 18, 2023

Applications to refinance a mortgage have collapsed by 86% from a year ago 🚨

Refinance mortgage volume has died ☠️

Applications to refinance a mortgage have collapsed by 86% from a year ago 🚨

Raising rates has consequences.
But don't worry, the Fed is going even higher. 🔥

They want you unemployed and homeless, THEN they might consider cutting rates. pic.twitter.com/aQR4FbOlBG

— Wall Street Silver (@WallStreetSilv) January 11, 2023

AUSTIN, TEXAS HOUSING PRICES: Down 21% in 6 Months

Austin, Texas Housing Prices Are Crashing Fast
- Down 21% in 6 months 🔥🔥🔥

Is this spreading to other areas in the coming months?
What does you area look like? pic.twitter.com/n6n5Yk9AtL

— Wall Street Silver (@WallStreetSilv) January 7, 2023