ITB iShares Dow Jones US Home Construction

The using your house as a piggy bank refinance trade that has been a tailwind over the last 40 years, is now turning into a HEADWIND! Mortgage interest rates staying high and continuing higher, is taking away the ability for homeowners to refinance their homes to a lower rate and using that refinance cash to spend money. Now, the only other option for current homeowners to get access to more cash is to do a HELOC or rack up more credit card debt.... This is a major reason why I'm bearish on the stock market for the remainder of the decade and will NOT be surprised to see almost all of the gains seen since 2023 WIPED out! Good luck. $ITB $XHB $SPY $QQQ $XLF

The median price of New Homes Sold has declined by 8.3% (NSA) year-to-date. This is the second weakest performance in the past two decades, lagging only the performance that was recorded in 2009, amidst the Great Financial Crisis. The precedent is certainly concerning. $ITB $XHB