With the markets being closed today for Juneteenth, I am happy to report that The Family Office's sole position (long XOM at $96) was unable to go down any further.
(Wait for it…)
That will probably change tomorrow, and Tyler seems downright giddy about this week's newest investment opportunity, so I expect There Will Be (more) Blood by week's end…
Meanwhile, some idiot paid $19 million to have lunch with Warren Buffet, making it the most expensive buffet lunch of all time, and Bitcoin dips below $18,000 before rallying over the break on what the kids now call FOMO.
This week is a big one for economic data surrounding the real estate market…
- Tuesday, we get existing home sales.
- On Wednesday, the Mortgage Bankers Association will release weekly mortgage applications. Last week’s total mortgage application volume was down 52.7% year-over-year, and I would expect that trend to accelerate following the Fed’s latest rate hike.
- And Friday, May’s new home sales will be published.
Couple that with earnings from KBH and last week’s home builder sentiment index dropping to its lowest level in two years, and we'll see just how fucked the housing market might be in an environment of falling demand and increased costs.
What a fucking time to be alive.
Tune into tomorrow morning's edition of "The Water Coolest" to be kept up to date with whatever Tyler thinks is sexy…
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