What I’m Reading
Contagion: The housing affordability crisis used to be a coastal, blue state issue. It has now gone nationwide. New York Times
When it Rains, It Pours: America is facing the twin threats of rail and trucker strikes just as signs emerge that its ports on both coasts are getting overloaded once again. The ongoing negotiations between dockworker unions and employees on the US west coast is also fraying nerves for many involved in supply chains. Splash 247
Warning Sign: The 2-10 yield curve has inverted for the third time this year. It has now hit its most heavily inverted level since 2000. Morningstar
Turning Point? Contractors and their customers might have seen the peak in materials prices, according to the Associated Builders and Contractors (ABC) analysis of US Bureau of Labor Statistics’ Producer Price Index data released last week. Globe Street
Returning to Balance: Worker shortages that drove up wages during the pandemic and in the economic reopening are fading as at least some industries return to employment stability. Bloomberg
Chart of the Day
Owners Equivalent Rent trails asking rent by months. It is now surging and certain people (looking at you Goldman Sachs) are claiming that its surprising. Its not. Even casual market observers saw this coming a mile away.
Source: The Daily Shot
WTF
Taking a Dip: A woman found an iguana swimming in her toilet because Florida. Tampa Free Press
On the Run: A convicted felon who took off running from the podium at a courthouse was apprehended by three bailiffs because Florida. Tampa Free Press
Basis Points – A candid look at the economy, real estate, and other things sometimes related.
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